Evergrande’s Xu Jiayin enjoys strong support from state investors
Leading the region’s real estate news today is the latest Singapore-based listed trust, which now offers investors units representing retail properties across Greater China. Also in the headlines, GLP leases more sheds, and the state-backed investors behind Evergrande’s privatisation plan. Read on for all these stories and more.
Dasin Retail Launches $85M Singapore Listed Trust
Dasin Retail Trust Management Pte. Ltd, trustee-manager of Dasin Retail Trust, has launched its S$121-million (about $85 million) initial public offer (IPO) in Singapore, following its final prospectus being registered with the Monetary Authority of Singapore (MAS) late last week (January 13).
Dasin Retail Trust’s invests and develops income-producing real estate projects in Greater China. DBS Bank Ltd. is the financial adviser, global coordinator and issue manager of the offering. Read more>>
Evergrande Re-Listing Deal Reveals SOE Ties
Few people seem to have figured out how Hui Ka-yan and his heavily indebted property leviathan China Evergrande Group always seems to able to secure financial support.
But a recent eye-catching deal has opened a small window into some of the 58-year-old tycoon’s mysterious circle of friends and highly influential connections. Read more>>
GLP Signs 128K Sqm of New Leases
GLOBAL Logistic Properties (GLP) has signed 128,000 sq m of new leases in China and Japan the past two months, fuelled by domestic demand from car parts, e-commerce and consumer goods industries.
The Singapore-listed warehouse group said that 90 per cent of its portfolio globally is occupied by customers catering to domestic consumption demand. Read more>>
Yanlord Land, Frasers Centrepoint Among Rush of SG Bond Issues
Healthway Medical, Yanlord Land, DBS Bank and Frasers Centrepoint are raising funds through note issues.
Healthway Medical announced before the opening of Tuesday trading that it has entered into an agreement with GW Active on Monday to issue S$10 million in convertible notes and S$60 million in non-convertible notes. Read more>>
HK Officials Say Stamp Duty Successful in Cooling the Market
The government’s increased stamp duty on property transactions for non-first-time buyers (to 15 from the lowest rate of 1.5 per cent) introduced in November has cooled the Hong Kong property market.
But acting Financial Secretary Chan Ka-keung said on Monday the government has not yet decided on any other major changes to its property policies. Read more>>
Wanda Eyes More Theatres, Parks in 2017
Conglomerate Wanda Group forecast a slight acceleration in revenue growth this year on a rapid expansion of its newer movie and cultural businesses to offset its sputtering property unit.
Wanda has been transforming itself into a more-diversified company over the last five years, seeking to lessen its dependence on the cyclical real estate market. That drive has been focused mostly on entertainment-related assets, including billions of dollars in overseas buying of film production companies and movie theaters, and a series of theme-park openings in China. Read more>>
Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for headlines as they happen.
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