Frasers Property closes €285M European deal for 22-asset portfolio Frasers Property Ltd. completed the acquisition of a 94% stake in AI Gewerbepark Tamm GmbH, marking the closing of a €285.2 million deal signed in February for a portfolio of properties in Germany and Austria. The first phase of the acquisition closed...
Capitaland Commercial Trust (CCT) has announced the completion of the divestment of Twenty Anson. The sale was originally announced on 29 June 2018, with CCT mentioning the sale consideration of S$516 million or S$2,503 per sqft based on the building's net lettable area. On the divestment, Mr Kevn Chee, CEO of...
FPL’s 3QFY18 core PATMI of S$157m (-13% YoY) came in above estimates, due to faster-than-expected recognition of development profits in Singapore. Net gearing improved 6%pts QoQ but remains high at 89% and suggests that more properties are likely to be injected into its listed S-REITs. Also read: Parc Esta new launch...
Capitaland released a respectable set of results for 2Q2018. The following are excerpts from various equity research houses on the company's performance. CapitaLand reported 2Q18 net profits of S$605.5m, EPS of 14.4cts, +5.1% YoY. Core net profit of S$196.0m (-5.6% YoY) was below our expectation of S$226m, due mainly to...
2Q results highlights PREH reported a 2Q18 EBIT of S$41.9m, -26.5% yoy, on a 1.6% improvement in revenue to S$18.1m. Stripping out revaluations and other one-off gains, EBIT would have been marginally higher yoy. Net profit fell a greater 49.5% yoy to S$8.6m, eroded by lower EBIT and higher finance...
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