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CapitaLand: Too early to bottom fish
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tanglinboy
Elite |
27-May-2009 14:20
Yells: "hello!" |
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CHEONG AR !!! Solid gains today!! 17% gains over 2 weeks! |
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Blastoff
Elite |
26-May-2009 20:23
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News Release - "Ascott opens second Somerset Serviced Residence in Tianjin, China" http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_BE14A8BD1656AA0B482575C200181B2D/$file/AscottNewsRelease.26May2009.pdf?openelement |
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ticklish8
Senior |
22-May-2009 14:05
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May 22 (Bloomberg) – CapitaCommercial Trust, the office landlord partly owned by Southeast Asia’s largest developer, plans to raise S$828.3 million ($572 million) by selling shares to existing shareholders to help repay debt. The company will sell 1.4 billion shares at 59 Singapore cents apiece, or a 44 percent discount to the last traded price of S$1.06, CapitaCommercial said today in a statement. CapitaLand Ltd., which has a 31.4 percent stake in the trust, will subscribe to its full entitlement for S$260.4 million. “It seems CapitaCommercial is building up capacity to refinance debt, and creating a buffer against potential asset writedowns,” said David Lum, analyst at Daiwa Institute of Research in Singapore. The worst global recession since World War II has battered Singapore’s exports, prompting the government to cut taxes and hand cash to businesses to help them cope with the slowdown. The cost of leasing offices fell 11 percent in the first quarter, and retail and industrial rents slid 3.3 percent and 5.6 percent, respectively, the Urban Redevelopment Authority said April 24. CapitaCommercial joins Singapore companies including DBS Group Holdings Ltd. in turning to investors for cash as the global financial crisis tightens the availability of credit. CapitaLand earlier this year raised S$1.84 billion in a rights offer, and its CapitaMall Trust unit raised S$1.23 billion by selling stock to shareholders. Lower Asset Values CapitaCommercial has S$2.28 billion of outstanding bonds and loans, according to data compiled by Bloomberg. The company’s gearing of 38 percent is below the 60 percent threshold set by the Monetary Authority of Singapore, though a decline in asset values may push its gearing above 40 percent, Daiwa’s Lum said. The value of CapitaCommercial’s properties fell 10 percent to S$6.03 billion as of May 22 from Dec. 1, according to a separate statement. The property trust said the rights sale will cut its gearing to the “low end” of its target of between 30 percent and 45 percent, boost its balance sheet and improve its credit profile. CapitaCommercial has a “negative” outlook and a Baa2 rating, the second-lowest investment grade, on its long-term corporate debt, according to Moody’s Investors Service CapitaCommercial hired DBS Group Holdings Ltd., Cazenove & Co., Standard Chartered Plc and United Overseas Bank Ltd. to help sell the shares. Shares of CapitaCommercial and CapitaLand were halted for the announcement. CapitaCommercial stock has gained 18 percent this year, and CapitaLand shares have risen 32 percent. Singapore’s benchmark Straits Times Index is up 25 percent in the same period. CapitaCommercial’s rights shares are scheduled to start trading on July 3. CapitaCommercial said last month that a three-year loan secured from DBS Bank Ltd., Standard Chartered Bank, United Overseas Bank Ltd. and the Bank of Tokyo-Mitsubishi UFJ Ltd. had been fully drawn down to repay S$580 million of mortgage-based securities that came due in March. It also said it obtained a “commitment letter” from an unidentified bank for a three-year loan of as much as S$160 million to refinance remaining debt maturing this year. CapitaCommercial paid shareholders S$45.4 million, or 3.24 cents a share, for the three months ended March 31, up from S$35.9 million, or 2.59 cents, a year earlier, the company said April 30. For Related News and Information: CapitaCommercial Debt: CCT SP Equity DDIS GO Singapore company stories: TNI SP COS BN GO Most-read Singapore stories: MNI SP GO Today’s top stories in Asia: TOP ASIA GO –With assistance from Bei Hu in Hong Kong. Editors: Tony Jordan, Alan Soughley To contact the reporter on this story: Jonathan Burgos in Singapore at +65-6212-1156 or jburgos4@bloomberg.net; Andrea Tan in Singapore at +65-6212-1325 or atan17@bloomberg.net To contact the editor responsible for this story: Darren Boey at +852-2977-6646 or dboey@bloomberg.net. -0- May/22/2009 05:23 GMT 05-22-09 0124EDT |
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knightrider
Elite |
22-May-2009 13:48
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Oh, then it sound much better, it is Capitalcomm to raise rights to collect $$ and not Capitaland. Then I can rest assure it will not hit this counter. So I can sleep in peace liao. Ha ha, I myself scare myself. So don't worry la. Good Luck. | ||||
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anfield_76
Member |
22-May-2009 13:46
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the announcement is for CapitaComm to raise rights, not for Capitaland to issue rights. how come Capitaland need to call for trading halt? or are there announcements not made yet? | ||||
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knightrider
Elite |
22-May-2009 13:44
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Hope they are not out to collect $$ from shareholder again ! Not Again, issue rights to raise capital again. Don't because the company name is Capitaland, means can everytime raise capital anytime and it is after just 1 round of rising, now 2nd round ! What the !@@##? Hope I m wronged? | ||||
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DnApeh
Master |
22-May-2009 13:35
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action at 2pm | ||||
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anfield_76
Member |
22-May-2009 10:19
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what's wrong?!?!?! |
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rage11
Member |
22-May-2009 09:08
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so...is good news or bad news? i still have few lots on contra leh...will it re-open in time for me to offload haha... |
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aleoleo
Master |
22-May-2009 09:06
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capcommercial need right issue |
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equator2010
Senior |
22-May-2009 08:54
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uh-oh jungoh | ||||
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rage11
Member |
22-May-2009 08:53
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yah, how come suddenly "HALT"? what happen? no news beforehand haha... |
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aleoleo
Master |
22-May-2009 08:44
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oh uh....... capitaland in "HALT" liao ... what happen leh .... good or bad news ???? | ||||
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tanglinboy
Elite |
20-May-2009 19:09
Yells: "hello!" |
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Sorry... I mean 3.15
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tanglinboy
Elite |
20-May-2009 19:08
Yells: "hello!" |
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Yah! I'm wondering the same thing. What's up with this one? I'm not complaining though... I got in at 3.10 !!
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Kassanne
Member |
20-May-2009 11:06
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Any news on capitaland. Share prices seem to be going up for the past few days? | ||||
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knightbridge
Veteran |
12-May-2009 17:22
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BB got deep pocket to set closing price.. Using cloing price to manage expectation and sentimental.. Recession or not.. BB still using sharkfin to wash mouth..
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tanglinboy
Elite |
12-May-2009 17:11
Yells: "hello!" |
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What the hell? I bought this counter at 3.15. It rose up to 3.22 and maintain that level for long time. Then in the last 5 mins of trading it fall to 3.14. Someone playing a fool with this counter? |
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maxcty
Master |
11-May-2009 15:21
Yells: "always a learning day for me in trading" |
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this counter is not performing today, going south..i am out @3.22..will buy if it hits below 3 tmr! good luck to those who still holding... |
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Kassanne
Member |
11-May-2009 14:31
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What show? Can share? | ||||
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