Parkway Holdings, the Singapore hospital operator, said it will lease and operate a 200 million-ringgit ($83.2 million) private hospital that will be built in Kota Kinabalu in Malaysia’s eastern Sabah state.
Posts Tagged ‘parkway’
Parkway Life Reit rated ‘buy’ by DBS
January 25th, 2011 |
No Comments
DBS Vickers Securities in a Jan 24 research report says: “4Q10 DPU of 2.38 cents (+16% y-o-y; 6% q-o-q) was within our expectations. Gross revenue grew 21% y-o-y to $21.5 million, driven largely by additional contributions from a total of 19 nursing homes acquired and higher revenue from Singapore properties.
Parkway Life REIT announces 16.6% rise in 4Q distributable income for $14.4m
January 24th, 2011 |
No Comments
Parkway Life Real Estate Investment Trust (PLife REIT) says it registered a 21.1% increase in gross revenue from $17.7 million in the previous corresponding period (4Q 2009) to $21.5 million for the fourth quarter (4Q 2010) ended 31 December 2010.
PLife REIT says this was primarily due to the full quarter revenue contribution amounting to $0.9 million from the eight Japan nursing home properties acquired in November 2009, and recognition of revenue contribution amounting to $2.5 million from the 11 Japan nursing home properties acquired in June and July 2010.
Parkway unit links deal to build Gleneagles hospital in Iskandar
December 7th, 2010 |
No Comments
Global Capital & Development (GCD), a consortium whose members include Malaysian state investor Khazanah (KHAZA.UL) and Abu Dhabi’s Mubadala (MUDEV.UL), will develop a 300-room private hospital in Malaysia’s Iskandar region, GCD said on Tuesday.
Parkway Holdings – Corporate moves
November 15th, 2010 |
No Comments
Ahmad Shahizam Bin Mohd Shariff has been appointed ED wef Nov 1
Work experience: Director, investments, Khazanah Nasional Bhd; head, communications & external relations, Khazanah Nasional Bhd
DMG downgrades Parkway Life REIT to Neutral
November 11th, 2010 |
No Comments
DMG downgrades Parkway Life REIT (C2PU.SG) to Neutral vs Buy as $1.66 target price breached. Says, prospects priced in with REIT now trading at 5.4% yield, tad higher than previous 5.5% peak yield.
Phillip Securities cuts Parkway Life REIT to Hold
November 9th, 2010 |
No Comments
Phillip Securities downgrades Parkway Life REIT (C2PU.SG) to Hold vs Buy, raises target to $1.78 vs $1.66. “Although we like the fundamentals of Plife, we think price action will be taking a breather.” Adds, improved earnings (3Q NPI of $19.4 million +26.5% on-year, +12.3% on-quarter) due to Japan buys (11 purchases in Japan this year), rental reversions in Singapore.
UBS ups Parkway Life REIT target to $1.89; Buy
November 9th, 2010 |
No Comments
UBS raises Parkway Life REIT (C2PU.SG) target price to $1.89 from $1.77, keeps Buy rating. Says 3Q DPU of 2.25 cents, +18% on year, +8% on quarter, in line with estimates, boosted by Japanese acquisitions, while net property income boosted by contribution from Japanese nursing homes acquired in June, July as well as rental growth of 1.73% from 23 August.
Parkway Holdings signs $750m murabaha facilities
October 29th, 2010 |
No Comments
Parkway Holdings has signed a master murahaba agreement with The Islamic Bank of Asia for debt facilities of up to $750 million. The participants in the facility are DBS Bank, Malayan Banking Bhd, Oversea-Chinese Banking Corp., Standard Chartered Bank and United Overseas Bank.
{jcomments on}
Kim Eng ups Parkway Life REIT target to $1.94
October 5th, 2010 |
No Comments
Kim Eng Securities lifts Parkway Life REIT (C2PU.SG) target price to $1.94 from $1.64 after rolling over estimates to FY11 valuations, says Dow Jones.
Keeps Buy call. Notes healthcare REIT stepping up efforts on its asset enhancement initiatives, eyeing acquisitions in Australia, Malaysia. Says long waiting list for PLife’s nursing homes in Japan is clear evidence of robust underlying demand; “this renders PLife the benefit of a stable rental income.”
Expects PLife to pursue another $200 million worth of acquisitions over next 2 years. REIT flat at $1.64.
{jcomments on}
Parkway Life down 5.4%; TPG sells 9.3% stake
September 23rd, 2010 |
No Comments
Parkway Life REIT (C2PU.SG) down 5.4% at more than 2-week low of $1.58 on robust volume, driven by married deal of 56.2 million units done at $1.56 each in early trade, says Dow Jones.
According to brokers, private equity group TPG behind sale, offloading its 9.3% stake in hospital REIT of Parkway Holdings (P27.SG), which Khazanah Nasional recently acquired.
TPG to sell up to $91m stake in Parkway Life: IFR
September 22nd, 2010 |
No Comments
Private equity firm TPG (TPG.UL) is selling its 9.3% stake in Parkway Life REIT (PWLR.SI) in a deal that could raise as much as $91.1 million, IFR Asia reported on Wednesday.
TPG is offering 56.25 million shares at a guidance range of $1.56-$1.62 each, representing a discount of 6.6% to 3% to Parkway Life’s last traded price.
Goldman Sachs (GS.N) is sole bookrunner for the deal.
TPG had been expected to sell its stake in Parkway Life after Malaysian state investor Khazanah took control of Parkway (PARM.SI), which runs some of the properties owned by Parkway Life.
Khazanah trumped India’s Fortis Healthcare (FOHE.BO) in a takeover battle for Asia’s biggest listed hospital operator in a deal that could cost the state firm $3.5 billion.
Parkway Life and TPG declined comment while Goldman was not immediately available.
{jcomments on}
Parkway Life REIT target lifted to $1.91 by CIMB
September 7th, 2010 |
No Comments
CIMB lifts Parkway Life REIT (C2PU.SG) target price to $1.91 from $1.57 after increasing 2011-2012 DPU estimates by 4.0%-20% to reflect assumptions for additional $200 million in acquisitions next year, lower cost of debt, says Dow Jones.
CIMB notes REIT’s unique rental escalation clause, pegged at inflation rate +1.0%, bodes well for its Singapore portfolio: “With the Singapore economy expected to expand 13%-15% this year, inflation risks remain. What’s more, food prices may be higher in 2H10 as a result of inclement weather.”
Keeps Outperform call. REIT +0.7% at $1.55.
{jcomments on}
Parkway Holdings – Corporate moves
September 2nd, 2010 |
No Comments
Mohammed Azlan bin Hashim has been appointed non-executive chairman wef Aug 25
Work experience: Executive chairman, SILK Holdings Bhd; executive chairman, Kuala Lumpur Stock Exchange Group
Aug 26: Sembcorp, Yangzijiang, Sim Lian, Parkway, Olam, Cosco
August 26th, 2010 |
No Comments
Singapore stocks may open higher on Thursday after Wall Street shares broke a four-day losing, as key technical support triggered bargain hunting that offset weak economic data. Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.13% on Wednesday to 2,926.55 points. Here are some stocks and factors to watch:
Sembcorp Industries (SCI SP): The conglomerate which gets 44 percent of revenue from utilities said it will invest $800 million to build a multi-utility facility and a power plant for Jurong Aromatics Corp., which signed a 20-year deal to use the facilities. Sembcorp Industries gained 1% to $4.13.
Khazanah controls 95% of Parkway
August 17th, 2010 |
No Comments
Malaysia’s state investor Khazanah said its Integrated Healthcare unit controls 95% of Singapore hospital operator Parkway Holdings (PARM.SI) and it would make a decision soon on its listing status.
Shares of Parkway were suspended from Tuesday as less than 10% of its shares are in free float, Parkway said in a separate statement.
Parkway Holdings’ 2Q net profit falls 9% on year to $36.8m
August 12th, 2010 |
No Comments
Parkway Holdings (P27.SG) says its second quarter net profit fell 9% to $36.8 million from $40.3 million in the year-earlier period when the Singapore-listed healthcare company had booked a one-off gain.
Revenue increased 9% to $271.6 million, Parkway, which was recently at the centre of a bidding war between two key shareholders, said in a statement.
Khazanah Holdings launched a full takeover offer for Parkway on July 26, prompting Indian rival Fortis Healthcare (532843.BY) to abandon its bid for control of the Singapore healthcare group and sell its 24.9% stake to the Malaysian sovereign wealth fund.
{jcomments on}
Parkway Holdings reports 2Q net of $36.8m
August 12th, 2010 |
No Comments
Parkway Holdings said net income in the second quarter was $36.8 million, down 9% from the same period a year earlier, according to a statement sent to the Singapore stock exchange.
{jcomments on}
Khazanah seals $1.85b loan to fund Parkway: Basis Point
August 6th, 2010 |
No Comments
Malaysian state investor Khazanah has secured a $1.85 billion three-year loan to partly finance its takeover of Parkway Holdings (PARM.SI), Basis Point said, quoting banking sources.
The eight lenders providing the club loan are ANZ, BNP Paribas, CIMB Bank, DBS Bank, HSBC, Maybank, OCBC Bank and UOB.