Extension of HGB title for Mochtar Riady Comprehensive Cancer Centre

Extension of HGB title for Mochtar Riady Comprehensive Cancer Centre (MRCCC):

• Press Release

Key Points

• This announcement is further to:
• the announcement dated 9 November 2010 in which Bowsprit Capital Corporation Limited,in its capacity as manager of First Real Estate Investment Trust (“First REIT” and asmanager of First REIT, the “Manager”), proposed the acquisition by First REIT of MochtarRiady Comprehensive Cancer Centre (“MRCCC” and the proposed acquisition of MRCCC,the “MRCCC Acquisition”) subject to, among others, the condition precedent that the in-principle approval for the renewal of the “Right to Build” (Hak Guna Bangunan or “HGB”1)title in relation to MRCCC be obtained from Badan Pertanahan Nasional (or the NationalLand Office of Indonesia).
• the circular dated 10 November 2010 issued to unitholders of First REIT (“Unitholders”) to seek Unitholders’ approval for, among others, the MRCCC Acquisition.
• the approval by Unitholders of the MRCCC Acquisition at First REIT’s Extraordinary General Meeting on 29 November 2010.
• the National Land Office of Indonesia has extended the HGB title in relation to MRCCC (which was scheduled to expire on 27 August 2015) for a period of 20 years subject to, among others, the payment of a nominal premium and certain other standard conditions, and therefore the condition precedent described above has been satisfied. 
• The amount of premium payable is approximately 193.2 million Indonesian Rupiah (approximately S$28,006.252) and is payable by the vendor of MRCCC. 

Related Posts

• First Reit - Lodgement and despatch of offer information statement - 6 DEC 2010
• First Reit - Notice of Rights Issue Books Closure Date
• The Expanded First Reit Post Rights Issue and Acquisitions
• First Reit - Follow up details of the proposed acquisition and rights issue - 10 NOV 2010
• First Reit - proposed acquisitions and rights issue - 9 NOV 2010

Singapore commercial property rents to rise 15-20% next year: CBRE

Singapore commercial property rents to rise 15-20% next year: CBRE:

Source of News

Singapore's commercial property sector will likely see a 15-20 per cent increase in rental values next year, after a 22 per cent growth this year, according to CBRE.

This will be driven by strong occupier demand for office space in Singapore despite plenty of supply coming on stream.

CBRE points to the Marina Bay Financial Centre (MBFC) as one example of strong demand. The first phase of MBFC was fully let out by the time its doors opened this year.

The property consultant said the supply pipeline is reasonable next year, with over 5 million square feet of office space currently under construction in the central business district. Half of the supply has already found tenants.

"From a relative standpoint, Singapore is quite competitive in terms of office occupation costs... Hong Kong office space is commanding almost double the rents Singapore is currently set at, so I think there is room for rental growth in Singapore, without it becoming uncompetitive," said Moray Armstrong, Executive Director, Office Services, CBRE.

Related Posts

• K-Reit's proposed acquisition of a one-third stake in MBFC phase 1 and proposed divestment of KTGE - 11 OCT 2010 
• SUNTEC Reit completes acquisition of a one-third interest in MBFC Towers 1 and 2, and the Marina bay Link Mall - 9 DEC 2010
• SUNTEC Reit proposed acquisition of a one-third interest in Marina Bay Financial Centre Towers 1 and 2 and the Marina Bay Link Mall - 26 OCT 2010

SUNTEC Reit completes acquisition of a one-third interest in MBFC Towers 1 and 2, and the Marina bay Link Mall - 9 DEC 2010

SUNTEC Reit completes acquisition of a one-third interest in MBFC Towers 1 and 2, and the Marina bay Link Mall:

• Press Release
• Use of Proceeds Announcement

Key Points

• SUNTEC Reit completes acquisition of a one-third interest in MBFC Towers 1 and 2, and the Marina bay Link Mall on 9 DEC 2010.
• The Acquisition was partly financed with a S$1,105 million term loan facility entered into with Citibank, DBS Bank and Standard Chartered Bank, and partly financed with S$417.9 million of net proceeds derived from the private placement of 313,000,000 new units in Suntec REIT (“New Units”) at an issue price of S$1.37 per New Unit.
• With this acquisition:
• Suntec REIT’s office portfolio NLA has increased from approximately 1.9 million sq ft to approximately 2.4 million sq ft.
• further strengthened its foothold in the Marina Bay precinct.
• the value of Suntec REIT’s assets under management has increased to approximately S$6.8 billion.

Related Posts 

• SUNTEC Reit issues 313,000,000 new units for Private Placement - 9 DEC 2010
• Suntec Reit successfully raised S$428.8 million through private placement - 29 NOV 2010
• SUNTEC Reit - Circular to shareholders in relation to proposed acquisition of a one-third stake in MBFC 1 - 8 NOV 2010
• SUNTEC Reit proposed acquisition of a one-third interest in Marina Bay Financial Centre Towers 1 and 2 and the Marina Bay Link Mall - 26 OCT 2010

SUNTEC Reit issues final tranche of 34,500,360 deferred units - 9 DEC 2010

SUNTEC Reit issues final tranche of 34,500,360 deferred units.

• Press Release

Key Points

• 34,500,360 units in Suntec REIT (the “Deferred Units”) has been issued to Suntec City Development Pte Ltd, the last of six instalments of deferred units in Suntec REIT in part satisfaction of the purchase consideration for Suntec REIT’s initial portfolio of properties in its initial public offering.
• With this issue of Deferred Units, together with the private placement of 313,000,000 new units in Suntec REIT (the “New Units”) issued at an issue price of S$1.37 per New Unit (the “Private Placement”) today, the total number of units in Suntec REIT (“Units”) in issue is 2,194,862,143.
• The Deferred Units and New Units will commence trading on the Main Board of Singapore Exchange Securities Trading Limited (the “SGX-ST”) at 2.00 p.m. today.

Related Posts

• Suntec Reit successfully raised S$428.8 million through private placement - 29 NOV 2010
• About a Reit - SUNTEC Reit and its deferred units

SUNTEC Reit issues 313,000,000 new units for Private Placement - 9 DEC 2010

SUNTEC Reit issues 313,000,000 new units for Private Placement.

• Press Release

Key Points

• Further to its announcements dated 29 November 2010 in relation to the private placement of 313,000,000 new units (“New Units”) in Suntec REIT at an issue price of S$1.37 per New Unit (the “Private Placement”), the Board of Directors of ARA Trust Management (Suntec) Limited, in its capacity as manager of Suntec REIT (the “Manager”), wishes to announce that the Manager has today issued the New Units. The New Units will commence trading on the Main Board of Singapore Exchange Securities Trading Limited
  (the “SGX-ST”) at 2.00 p.m. today.
• The New Units issued pursuant to the Private Placement will, upon issue, rank pari passu in all respects with the Suntec REIT units in issue immediately prior to the issue of the New Units (“Existing Units”), other than in respect of the Advanced Distribution (as defined herein).

Related Posts

• Suntec Reit successfully raised S$428.8 million through private placement - 29 NOV 2010

K-Reit Updated Target Price

K-Reit Updated Target Price:

CIMB

UNDERPERFORM

1.43

19/10/10

Latest updates at Stock Target Price.

Related Posts

• K-Reit's proposed acquisition of a one-third stake in MBFC phase 1 and proposed divestment of KTGE - 11 OCT 2010