News by PC Lee

CIMB is maintaining its “underweight” on S-REITs, forecasting DPU growth to be muted in view of the uptick in Fed fund rates and wary of capital depreciation.

Following the acquisition, Yanlord’s indirect interest in Shenzhen Long Wei Xin has increased to 94.9% from the initial 75% which was acquired in 2007 for RMB238.7 million.

Oxley Holdings says wholly-owned subsidiary, Oxley Holdings (Cyprus), and Planetvision Properties (CY) have incorporated a joint venture company, Oxley Planetvision Properties, in Cyprus.

DBS Group Research has upgraded CapitaLand Retail China Trust (CRCT) to “buy” from “hold” with S$1.60 (RM5.00) as it believes the stock is oversold following the recent price correction.

Banyan Tree Holdings and China Vanke Co have agreed to create Banyan Tree China, a new joint venture between Banyan Tree and Vanke, to consolidate the ownership of Banyan Tree-branded hotels and assets in China.

The growth in revenue and NPI was mainly driven by contributions from acquisitions, asset enhancement/redevelopment projects completed last year and a stronger performance in Hong Kong...

Revenue recognition on the sold units of five of its mixed projects in Singapore and rental income mainly from the group’s 70% stake in Space@Tampines (the industrial property was completed in June 2015 and has occupancy rate of 95%) also lifted sales.

Founded last January, Distrii already has capacity for more than 2,200 members across nine locations in Shanghai, with 80% of this capacity being taken up already.

This was a result of CapitaGreen’s contribution to CCT’s 4Q2016 gross revenue and NPI after becoming a wholly-owned property of the trust.

CapitaLand will reap a net gain of S$161 million after completion of the transaction.