K-REIT Asia (K71U.SG) fails to hold on to early gains, flat at $1.13 vs $1.14 earlier, as investors reluctant to chase after recent outperformance vs peers, says Down Jones.
Posts Tagged ‘kreit’
K-REIT Asia posts 14% rise in 1Q distributable income to $17.8m
April 19th, 2010 |
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K-REIT Asia says it achieved a distributable income of $17.8 million for the period from 1 January 2010 to 31 March 2010 (1Q 2010), a 13.8% increase from that for the same period in 2009. This was due mainly to the higher net property income and income contribution from One Raffles Quay Pte Ltd.
Net property income rose 28.4% year-on-year to $13.9 million in 1Q 2010. This was due to higher rental income from the additional six strata floors of Prudential Tower and the one-month income contribution from 275 George Street, Brisbane, Australia. The average gross monthly rent of K-REIT Asia’s portfolio in Singapore, including K-REIT Asia’s one-third interest in ORQPL, rose to $8.30 psf in March 2010, up from $8.16 in December 2009.
K-REIT Asia cut to sell by Daiwa with $0.96 target
March 15th, 2010 |
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Daiwa has downgraded K-REIT Asia (K71U.SG) to “sell” from “underperform” saying recent share price performance looks unjustified, reported Dow Jones Newswires.
Says current market value of office REIT is assuming valuations for office assets that look too high, given Singapore office market volatility, large new supply of office space coming on stream.
Feb 1: SGX, K-REIT, SIA, ST Engineering
February 1st, 2010 |
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The following companies may have unusual price changes in trading today, say Bloomberg and Thomson Reuters. Share prices are from the previous close. Singapore’s Straits Times Index lost 0.5% to 2,745.35.
US stocks dropped last Friday, as worries about fiscal turmoil in Europe and a drop in technology stocks pushed the S&P 500 to its worst monthly decline since February 2009.
K-Reit Asia rated fully valued
January 25th, 2010 |
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DBS Vickers Securities in a Jan 21 research report says: “Kreit’s 11.4% y-o-y jump in distribution income to $19.4 million (DPU 1.45 cents) is in line with expectations. This was achieved on a 13.8% rise in net property income to $13.4 million while revenue increased a higher 19.1% to $17 million.
Jan 21: China Fishery Group, City Developments, Genting, K-REIT
January 21st, 2010 |
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The following companies may have unusual price changes in trading today, say Bloomberg and Thomson Reuters. Share prices are from the previous close. Singapore’s Straits Times Index dropped 0.7% to 2,893.13.
The Dow suffered its worst drop of 2010 on Wednesday as US stocks succumbed to fears that China’s curbs on bank lending may jeopardise the global economic recovery while IBM’s outlook sparked caution about technology sector.
K-REIT Asia posts 11.5% rise in 4Q distributable income to $19.4m, brings full-year total to $70.5m
January 20th, 2010 |
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K-REIT Asia says it achieved a distributable income of $70.5 million for the full-year Jan 1 to Dec 31 2009 (FY2009).
This was 21.2% higher than that for the same period in 2008, due mainly to higher rental rates achieved for new and renewed leases and income contribution from one-third interest in One Raffles Quay Pte Ltd.
Net property income rose 23.2% year-on-year to $48.9 million in FY2009, due mainly to positive rental reversions and contribution from the additional six strata floors of Prudential Tower, which were acquired in November 2009. The average gross monthly rent of K-REIT Asia’s portfolio, including K-REIT Asia’s one-third interest in One Raffles Quay, was 7.2% higher at $8.16 psf in December 2009 compared with $7.61 psf in December 2008.
K-REIT Asia uses $99.7m of net proceeds from rights issue to repay bridging loan
November 20th, 2009 |
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K-REIT Asia says it used $99.7 million of the net proceeds of $616 million from its recent rights issue to fully repay a bridging loan facility of $110 million from Kephinance Investment.
The loan partially drawn down on Nov 2 for the purpose of financing the acquisition of levels 20 to 25 of Prudential Tower located at 30 Cecil Street.
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