GuocoLand
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27 Aug 2010 - GuocoLand S$532.5 mln rights issue
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GuocoLand referred to the article headlined “GuocoLand eyes its Reits of passage” which appeared in The Business Times on 29 December 2010. GuocoLand wishes to clarify that it currently has no plans to establish a real estate investment trust. It will review this as a possible strategy to extract value from its property portfolio at the appropriate time.
/sgx masnet/
wow up three cents already.
bsiong ( Date: 29-Dec-2010 09:45) Posted:
| Singapore-listed Guocoland may float 2 REITs: report |
| WRITTEN BY THOMSON REUTERS | | WEDNESDAY, 29 DECEMBER 2010 09:23 | Malaysian tycoon Quek Leng Chan’s Singapore-listed unit GuocoLand Ltd (GUOC.SI) may float two real estate investment trusts (REITs) with total assets of up to US$8 billion ($10.4 billion) over the next 3-5 years, The Business Times reported today.
The assets would include one office and the other retail REIT-holding assets in Singapore, China, Malaysia and possibly Vietnam, the newspaper said. The group’s portfolio shows it has a pipeline supply of investment properties -- at various stages of development -- totalling about 4 million square feet gross floor area (GFA) for offices and about 4.6 million sq ft retail space as well as some 5,000 car-park lots, the daily reported.
Most of this portfolio is not completed. Even after the properties are ready, it will take some time for yields to stabilise so that the assets are suitable for injection into REITs.
GuocoLand recently hired Leslie Yee, formerly head of research and funds management of The Link Management, the manager of The Link REIT in Hong Kong.
His appointment at GuocoLand as general manager of special projects has sparked speculation in the industry that the group is laying the groundwork for potential REIT flotations holding its regional office and retail portfolios respectively.
GuocoLand’s share price, which has risen 20% this year, closed on Tuesday up one cent at $2.55.
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//theedge/
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| Singapore-listed Guocoland may float 2 REITs: report |
| WRITTEN BY THOMSON REUTERS |
| WEDNESDAY, 29 DECEMBER 2010 09:23 |
Malaysian tycoon Quek Leng Chan’s Singapore-listed unit GuocoLand Ltd (GUOC.SI) may float two real estate investment trusts (REITs) with total assets of up to US$8 billion ($10.4 billion) over the next 3-5 years, The Business Times reported today.
The assets would include one office and the other retail REIT-holding assets in Singapore, China, Malaysia and possibly Vietnam, the newspaper said. The group’s portfolio shows it has a pipeline supply of investment properties -- at various stages of development -- totalling about 4 million square feet gross floor area (GFA) for offices and about 4.6 million sq ft retail space as well as some 5,000 car-park lots, the daily reported.
Most of this portfolio is not completed. Even after the properties are ready, it will take some time for yields to stabilise so that the assets are suitable for injection into REITs.
GuocoLand recently hired Leslie Yee, formerly head of research and funds management of The Link Management, the manager of The Link REIT in Hong Kong.
His appointment at GuocoLand as general manager of special projects has sparked speculation in the industry that the group is laying the groundwork for potential REIT flotations holding its regional office and retail portfolios respectively.
GuocoLand’s share price, which has risen 20% this year, closed on Tuesday up one cent at $2.55.
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//theedge/
WIll the 10% hotel plus possible addition of up to another 30% turn out to be a JV with sister company GuocoLeisure?
QLC has been accumulating shares under GuocoLeisure which will also delist from London trading in January.
What is the corporate restructure to come?
bsiong ( Date: 23-Nov-2010 12:33) Posted:
GuocoLand Limited announced that the tender submitted for a land parcel at Peck Seah Street / Choon Guan Street , has been accepted by the Urban Redevelopment Authority at a bid price of S$1,708,080,000. The 99-year leasehold Site has a land area of 15,022.6 square metres with an approximate gross floor area of 157,738 square metres and a permissible building height of 280 metres above mean sea level. he proposed development is to comprise at least 60% office and 10% hotel whilst the remaining GFA is for permitted uses such as residential, retail in accordance with the URA’s tender conditions. The Acquisition and development of the Site will be financed from internal resources and borrowings.
/ps
i came i read i posted |
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GuocoLand Limited announced that the tender submitted for a land parcel at Peck Seah Street / Choon Guan Street , has been accepted by the Urban Redevelopment Authority at a bid price of S$1,708,080,000. The 99-year leasehold Site has a land area of 15,022.6 square metres with an approximate gross floor area of 157,738 square metres and a permissible building height of 280 metres above mean sea level. he proposed development is to comprise at least 60% office and 10% hotel whilst the remaining GFA is for permitted uses such as residential, retail in accordance with the URA’s tender conditions. The Acquisition and development of the Site will be financed from internal resources and borrowings.
/ps
i came i read i posted
GuocoLand
Limited
announced that its
wholly-owned subsidiaries, Belmeth Pte Ltd, Perfect Eagle Pte Ltd and Guston Pte
Ltd, have submitted the highest bid of $1,708,080,000 for a land parcel at Peck
Seah Street / Choon Guan Street. The 99-year leasehold Site has a land area of
15,022.6 square metres with an approximate gross floor area of 157,738 square
metres and a permissible building height of 280 metres above mean sea level. The
Site occupies a prime location in the Tanjong Pagar area within the Central
Business District, and fronts onto a key road junction between several major
arterial roads – Maxwell Road , Cecil Street and Anson Road / Robinson Road
.
WOW! check out its closing price! with such low trading volume, how did it managed to be the 3rd top gainer..
Business
Times - 27 Aug 2010
GuocoLand says
in S$532.5 mln rights issue
SINGAPORE - Singapore property developer GuocoLand said on Friday it plans to
raise S$532.5 million (US$393.3 million) through a rights issue to fund
potential acquisitions and strengthen its balance sheet.
GuocoLand has proposed issuing about 296 million new shares at S$1.80 each,
which represents a discount of about 15.9 per cent to its last closing price of
S$2.14.
Under the proposed rights issue, one rights share will be distributed for
every three existing ordinary GuocoLand share.
Its parent, Hong Kong-based Guoco Group, will subscribe for its pro-rata
entitlement of the rights shares and any others which are not taken up by other
shareholders of GuocoLand, it said in a statement. -- REUTERS
PROPOSED RENOUNCEABLE RIGHTS ISSUE OF SHARES TO RAISE GROSS PROCEEDS OF
APPROXIMATELY S$532.5 MILLION
http://info.sgx.com/webcorannc.nsf/vwprint_portal/B5A2A3A7CC38095F4825778C00285C1E?OpenDocument
