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CapitaCommercial Trust (CCT) has announced a renounceable 1-for-1 rights issue at S$0.59/share, representing 44.3% discount to yesterday's closing price.The exercise will raise S$828.3m to be used primarily for reducing existing borrowings. The rights issue will reduce gearing from current 43.1% (after taking into account fresh valuation dated 22 May …
FCOT, formerly known as Allco Commercial Reit, has done the inevitable: 3-for-1 rights at 9.5 cents to raise $205.5 mln net of expenses. F&N will subscribe for its 22.2% entitlement. It will underwrite up to a further 10.5% for a total subscription of up to 32.7%. (The discount to the theoretical ex-rights price, TERP, of 13.1 cents, based on the last traded price of 24 …
Following the successful launch of Verdure (FH, 75 units) — 64 out of the 75 units launched in April were sold at an average price of circa S$1,400psf — Bukit Sembawang (BS) could release …
Jaya Holdings Ltd., a vessel-chartering company majority owned by Affinity Group’s Nautical Offshore Services, soared to its highest level in seven months amid hopes charter rates will rem …
Golden Agri-Resources Ltd r proposed underwritten renounceable rights issue of up to 1,763,739,384 new ordinary shares in the capital of the Company (“Rights Shares”) at the issue price of …
We are downgrading Olam from NEUTRAL to SELL. With Temasek taking a 13.8% stake in Olam (pending Olam shareholders' approval) and the additional capital providing scope for more acquisitions, we have raised our target price from S$1.83 to S$1.90. However, the recent surge in Olam's share price has made it more susceptible to possible weakness in global equity markets.Temasek …
Golden Agri share price will go ex of its proposed rights issue today. To recap, Golden Agri has proposed a fully underwritten 17-for-100 rights with free detachable warrants at S$0.18 per share. We are raising our net profit forecasts by 1-2% for FY09-FY11 to account for the net interest savings from the US$215m proceeds raise from the rights issue. However, we lowered our …
Meadows @ Pierce launching soon. Following the successful launch of the Double Bay Residences (DBR), UOL will be launching another mass market project - Meadows @ Pierce, in 2-3 weeks' time. According to Knight Frank, the marketing agent for the project, this 479-unit freehold residential development at Upper Thomson Road consists of a refurbished tower block (14 storey) and …
Strategic investment by the Kuok Group: In an announcement yesterday evening by Wilmar International (WIL), Wilmar China Limited (WCL) – a wholly-owned subsidiary and the entity for the Ch …
According to the South China Morning Post, Wilmar has chosen to list its China subsidiary on the Hong Kong market instead of Shanghai. The offering is expected by 1H 2010, and aims to rais …
Petrobras to bid out US$4billion worth of hull contracts by July- end: Keppel Corp along with 4 other companies (namely Atlantico Sul, 10% Samsung owned, Engevix Engenharia SA and UTC Enge …
CapitaLand’s much awaited project launch of The Interlace (former Gillman Heights) in October is expected to receive a warm response and further boost the sales volume in the already buoya …
According to media sources, DBS has slashed its deposit rates. Interest rates on the savings accounts at both DBS Bank and POSB will be trimmed by some 2.5- 12.5 bps depending on the diffe …
We maintain our 1 (Buy) rating for CapitaCommercial Trust (CCT) after the announcement on 22 May of a one-for-one rights issue (at S$0.59 per rights unit) that would raise gross proceeds o …
RMT’s management is still evaluating options for the funding of four containerships of US$712m to be chartered out to Maersk in 2H10. Should this funding issue be resolved, its share price …
IFAR reported 2Q09 results that were slightly ahead of our expectations. On a YoY basis, net profit fell 4.4% to Rp. 682.4b; stripping out its biological revaluation of Rp. 593.2bn, we est …
Size: Up to 84,000,000 new shares, (approx 19.9 % of existing share capital)(Note 30m shares anchored and the balance will be on an accelerated book building process)In view of the recent rally in the market, the Swiber Management has agreed to price the placement of the 10-day VWAP which works out to a 7.7 % discount to the 10-day VWAP off S$0.9531.This is a 16.2% discount …
CapitaLand unveiled designs for The Interlace last Friday, its latest project to be developed on the former Gillman Heights. Designed by Ole Scheeren from The Office of Metropolitan Architecture (OMA), The Interlace has an avant-garde design and will comprise 1,040 units on a site of 871,884 sq ft. CapitaLand has a 60%-stake in the project.The Interlace is scheduled to be …
Top picks DBS, UOB — Banks still trade 8-27% below mid-cycle P/B despite rising 75-82% from March lows (STI +57%). Banks outperform the STI in the first 9-12 months of a new cycle as the e …
We initiate coverage on CDL Hospitality Trust (CDL HT) with a BUY recommendation and fair value of $1.72. CDL HT currently owns hospitality related properties in Singapore and New Zealand. We believe the Trust is poised to benefit from the economic recovery coupled with the government efforts to boost the local tourism industry.Tail-end of economic recession? Singapore …
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