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Author: traderhub8   |   Latest post: Wed, 13 Nov 2019, 12:49 PM

 

Phillip Capital Morning Note - 17 Sept 2019

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Sydney-headquartered Lendlease Group has lodged a prospectus to list a new Reit (real estate investment trust) - Lendlease Global Commercial Reit - on the Singapore Exchange's (SGX) main board. About 387.5 million units at $0.88 each will be offered under the initial public offering (IPO) and a placement tranche. The Reit will initially consist of leasehold retail mall 313@Somerset in Singapore and freehold office property Sky Complex, which comprises three buildings, in Milan, Italy. The Reit's portfolio has an appraised value of about $1.41 billion.

Regional property and lifestyle group Wing Tai Holdings said on Monday that a trustee of its wholly-owned subsidiary WT DC Trust II has agreed to buy a freehold data centre in Australia for A$51 million (S$48.2 million). Evergreen Nominees (Victoria) is the seller of the data centre, which is located within Tally Ho Business Park in Victoria.

Moody’s has downgraded Hong Kong’s rating outlook to negative, citing growing risks to the Asian financial hub’s institutional strength, but maintained its current rating in a break with the recent downgrade by rival Fitch Ratings.

Developers in Singapore moved 1,122 private homes in August 2019, down 4.8 per cent from the 1,179 units they sold in the previous month, but 81.8 per cent higher than the the 617 units sold in August 2018.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR

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