In Mingtiandi’s latest roundup of regional news headlines, Hong Kong’s Ginza-style towers clear out as COVID-19 keeps diners at home, sustainability-linked financing fills the coffers of Surbana Jurong and Sunlight REIT, and Brookfield India REIT is 77 percent subscribed on its second day of subscription.
Landlords of Hong Kong’s “Ginza-style” high-rises are struggling to retain tenants as restaurants and bars — normally their bread and butter — battle to stay afloat during the pandemic.
Four such buildings — typically found on narrow lots with one retail business on each floor reached directly by a lift — in the commercial districts of Mong Kok, Tsim Sha Tsui and Causeway Bay were largely empty when the Post visited on Tuesday. Read more>>
Surbana Jurong on Wednesday sold the first Singapore-dollar sustainability-linked bond to a rousing reception, reflecting growing investor appetite for assets related to sustainable and socially responsible agendas.
The Temasek-owned provider of consultancy services for infrastructure and urban development pulled in S$1.7 billion ($1.28 billion) worth of orders from 120 accounts for its S$250 million 10-year bond that priced at par to yield 2.48 percent. Read more>>
Henderson Sunlight Asset Management and DBS Hong Kong jointly announced that Sunlight REIT secured a HK$500 million ($64.5 million) sustainability-linked loan on 2 February.
The sustainability-linked loan is unsecured and has a tenure of five years. DBS Hong Kong will offer interest margin privileges based on the satisfaction of pre-determined sustainability performance targets relating to environmental and social aspects. The proceeds of the loan will be used for general working capital. Read more>>
Sunac China Holdings has executed its offering of $600 million in 5.95 percent senior notes due in 2024 and $500 million in 6.5 percent senior notes due in 2026.
The initial purchasers included HSBC, Morgan Stanley, China CITIC Bank and others. Read more>>
The initial public offering of Brookfield India REIT was 77 percent subscribed on Thursday, the second day of subscription. It received bids for 58,818,600 units against 76,278,200 units on offer, according to an update on the NSE.
Brookfield India hit the capital market with its REIT public issue on Wednesday to raise up to INR 3,800 crore ($520 million). Read more>>
Chinese property developer Yanlord Land Group recorded S$1.1 billion ($820 million) in total contracted pre-sales from residential units, commercial units and car parks in January, more than twice the sum it recorded in the previous year.
The pre-sales were for a contracted gross floor area of 159,718 square metres (1,719,190 square feet), a 161.8 percent increase from the year before. The figures are from the company’s unaudited key operating figures it released on Thursday. Read more>>
Centara Hotels & Resorts, owned by one of Thailand’s richest families, is preparing to reopen properties shuttered in the wake of a new wave of coronavirus outbreak, betting that wider global vaccine availability and easing containment measures will revive tourism.
Centara, the hospitality unit of Bangkok-listed Central Plaza Hotel, will also open eight new properties in countries including Thailand, Turkey and the United Arab Emirates, deputy chief executive Markland Blaiklock said. Read more>>
GuocoLand’s half-year net profit has more than halved year-on-year to S$22.9 million ($17.1 million), thanks to higher tax expenses on its project in Shanghai.
On Thursday, Guocoland reported that its net profit fell 69 percent from S$74.5 million for the six months ended 31 December 2020. The top line dropped 44 percent to S$319.6 million from S$572.1 million a year ago. Read more>>
The total amount for distribution of Ascendas REIT climbed 6.7 percent year-on-year in FY2020 to S$538.4 million ($402.3 million), according to a report by REIT manager Ascendas Funds Management.
The distribution amount has been partially offset by an increase in non-property operating expenses related to new acquisitions, as well as higher net finance costs caused by higher average debt balances. Read more>>