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Posts Tagged ‘Ara’

Credit Suisse raises ARA Asset Management target to $1.74

Credit Suisse lifts ARA Asset Management (D1R.SG) target to $1.74 from $1.18 after increasing FY10-FY12 EPS estimates by 10%-25% to account for higher acquisition fees and a larger asset portfolio. 

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CIMB downgrades ARA Asset Management to Neutral

CIMB downgrades ARA Asset Management (D1R.SG) to Neutral vs Outperform on limited upside to $1.58 target; “although next year’s outlook is positive with acquisition fees and recurrent real estate management fees set to surge, we believe the stock is fully-valued.” 

Adds, fee income will get boost once Suntec REIT (T82U.SG), managed by ARA, seals last month’s proposal to acquire one-third stake in phase 1 of Singapore’s Marina Bay Financial Centre for $1.5 billion. Stock +0.6% at $1.57.

 
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ARA Asset Management posts 11% higher 3Q net profit of $38.1m on revenue of $70.8m

ARA Asset Management has reported an 11% increase in net profit for the nine months ended 30 September 2010 (YTD 3Q2010) to $38.1 million.

Total revenue rose 19% to $70.8 million during the period, driven by a 28% jump in recurrent management fees from $48.8 million in YTD 3Q2009 to $62.4 million in YTD 3Q2010. The increase was primarily due to contributions from the group’s real estate management services business division and the ARA Harmony Fund which were established in 4Q2009 and Cache Logistics Trust, which was listed on the SGX on 12 April 2010.

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ARA Asset Management raised to Outperform by CIMB

CIMB upgrades ARA Asset Management (D1R.SG) to Outperform from Trading Buy as brokers says that outlook for REIT looks increasingly positive as the impending launch of the US$1 billion ($1.36 billion) Asia Dragon Fund II would “significantly” enlarge its recurrent management fee base, says Dow Jones.

ARA management has said that ADF II fund will launch by 1Q11, which is in line with broker’s expectation of a half year contribution from ADF II management fees.

Raises target price to $1.35 vs $1.12. Stock up 0.9% at $1.13.

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ARA Asset Management acquires 15% stake in Aussie real-estate fund manager

ARA Asset Management says it has acquired a 15% interest in boutique Australian real-estate fund manager, APN Property Group, for A$4.6 million ($5.6 million) via a share placement.

APN is a specialist real estate fund manager listed on the Australian Securities Exchange (ASX) with total assets under management of A$2.6 billion as at 31 March 2010. APN currently manages real estate securities funds, private equity real estate funds, a listed real estate investment trust (REIT) and unlisted property funds investing primarily in Australian real estate.

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ARA Asset Management rated buy

DBS Vickers Securities in a July 12 research report says: “The group remains focused to achieve its target of S$20bn by end 2012, which we believe is a possibility, looking at the various growth initiatives they have put in place.

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ARA Asset target raised to $1.30 by DBS Vickers

DBS Vickers has lifted ARA Asset Management (D1R.SG) sum-of-parts target price to $1.30 from $1.14 on optimism over recurring income stream as real estate fund manager seeks to achieve $20 billion worth of assets under management by 2012, says Dow Jones.

DBS Vickers says target achievable given ARA’s various growth initiatives, including REIT acquisitions, setting up of new REITs and private equity funds.

Broker notes Cache Logistics Trust (K2LU.SG), REIT managed by ARA, likely to acquire assets worth up to $100 million by end-2010. Keeps Buy call. Stock flat at $1.12.

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CWT, ARA may gain as REIT listing takes shape

CWT (C14.SG) and ARA Asset Management (D1R.SG) may rise as planned listing of Cache Logistics Trust in Singapore takes shape, reported Dow Jones Newswires.

Cache has filed draft prospectus seeking to raise up to $417.3 million through sale of 474.2 million units at indicative price range of $0.84–$0.88, making it largest IPO in Singapore so far this year.

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ARA Asset Management initiated a ‘trading buy’ by CIMB

CIMB starts ARA Asset Management at “trading buy” with $1.36 target price, based on sum-of-parts valuation. Expects more upside for shares of REIT and fund manager, citing contributions from more planned listings this year, growth potential of fund management business.

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ARA Asset Management posts 32% rise in net profit to record $48.3m for FY09

ARA Asset Management has announced a record net profit of $48.3 million for the full year ended 31 December 2009 (FY2009), a 32% increase from the previous record of $36.7 million achieved in FY2008.

ARA Asset Management’s board has proposed a final cash dividend of 2.5 cents per share for FY2009 and a bonus issue of up to 116,412,000 new shares at 0.2 cents each on the basis of one bonus share for every five existing shares held.

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ARA plans Singapore Islamic REIT with Qatar property: Update

ARA Asset Management (ARAM.SI) and Qatar’s Regency Group plan to launch the first real estate investment trust in Singapore that will comply with Islamic principles, as investor interest returns to the REIT sector. 
 
The proposed Islamic or sharia-compliant REIT will comprise hotels and service apartments in Qatar with an initial portfolio of around 164,000 square metres of gross floor area, said ARA, which is part-owned by Hong Kong property giant Cheung Kong. 
Islamic finance is one of the world’s fastest growing banking sectors 

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ARA signs MOU with Qatar-based Regency Group to set up first Shariah-compliant REIT in Singapore

ARA Asset Management (ARA) says it has signed an Memorandum of Understanding with Qatar-based Regency Group to jointly manage a Shariah-compliant real estate investment trust (REIT) to be listed on the Singapore Exchange.

The proposed REIT is expected to comprise primarily of hospitality properties, including hotels and serviced apartments, located in Qatar, which will be contributed by the Regency group as the sponsor of the REIT.

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Singapore’s ARA, Qatar’s Regency to launch Islamic REIT

ARA Asset Management (ARAM.SI) said on Monday it plans to launch a real estate investment trust in Singapore that will comply with sharia, or Islamic, principles. 

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Off with their lordships

Just because No 10 wants a little expert help is no reason to grant outsiders a lifetime in ermine

It is hail and farewell time around Whitehall. Hail to Baron Sugar of Clapton, but farewell to Baron Darzi of Denham, not to mention Baron Carter of Barnes. Let the great big world keep turning without you, Baron Malloch-Brown of St Leonard’s Forest. And cheerio Baron Jones of Brum (though you’ve been gone quite a while already).

The last four were the leaders of Gordon Brown’s new pack, trailblazers for his government of all the talents. But now it’s the government of all the exits. Digby Jones vanished in under a year, talking about his “dehumanising, depersonalising” time as a junior functionary. Mark Malloch-Brown and Ara Darzi did rather better, notching two years apiece – until this month. Stephen Carter, Lord Broadband, wins the palm for a headlong transition. Appointed to a ministerial post in the Department of Culture, Media and Sport, October 2008: announced resignation, June 2009.

More comings and goings than Manchester City in the transfer window. More drama than an absurd BBC Trust meeting trying to decide whether Lord Hired of Fired can play apprentice finder in an election season. More dilemmas of a wholly ridiculous kind: first, why do talented outsiders wither and die in ministerial smog? But second, why do we have to give these chaps a job for life – attendance money, expenses, office costs, title – to sign them up for a few bare months of public service? What have they done to deserve decades of squirming in ermine?

Now, of course, it’s not quite possible yet to guess where the new, independent fees office will finally pitch their lordships’ expenses, beyond daily subsistence of £82.50 a day. Perhaps the four barons just departed won’t attend, won’t claim, won’t want to play the game at all. But it’s still a great game, eternal membership of a club that leaves the Garrick standing.

But why, pray, is it necessary to offer such enduring beneficence in order to get a little specific on board? There’s no reason for Downing Street not to add a noted surgeon or distinguished UN official to the team: reinforcements both sensible and necessary. A Commons full of professional members – no second jobs, no experience of life outside Central Office or some trades union HQ – isn’t likely to throw up much in the way of ministerial talent.

And this is a bind that will grow worse if David Cameron gets his way and reduces the number of MPs. Do we trust the people we elect to govern us? No: and we’re not exactly awed by them either. The wellsprings are running dry – and the true need for constitutional change has never been clearer.

Why go through the flummery of titles and bounteous cash flowing the wrong way in order to import expert ministers to do expert jobs? Why pavilion them with phoney baronies if they can just turn up in the Commons, make statements, answer questions and do the normal thing? Why pension them off to the Lords, where expense streams always run and nothing is truly proactive (or particularly democratic)? Let Mr Carter arrive, appear at the Commons dispatch box as requested, do his stuff – and then go back to being plain Steve again.

That’s the submerged logic of the new constitutional reform bill as tabled. What No 10 gives, life peers can henceforth shuck off. What heredity bestows no longer matters. But, why then deem that any of it matters? Choose a pragmatic version of the American cabinet system, fit for modern purpose. Spare Lord Mandelson months thinking up his title. Leave Lord Adonis in the right traffic lane. Impose no legacy for groaning generations to come. Here’s a very modest proposal that abolishes mindless contortions and futile cost. Watch Mark MB junk that upper house hyphen. Call My Lord Darzi just Dr once more. Lord Suralan, you’re terminated. That’s what you might call real reform.

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