Australian lenders expected to withstand housing slump
Big banks in Australia can withstand the severe downturn in the housing market but their reliance on offshore wholesale borrowing markets for financing makes them vulnerable, according to a new assessment.Global credit ratings agency Fitch said home prices in Australia “look high”...
Continue Reading • 24 Jan 2011
Suntec Reit's Q4 DPU drops
Suntec Real Estate Investment Trust (Suntec Reit) saw a 19.8 percent year-on-year drop in its distribution per unit (DPU) in Q4 2010, attributed to higher interest expenses from bank loans and convertible bonds.ARA Trust Management (Suntec) Ltd, the manager of Suntec Reit, said that distribution...
Continue Reading • 24 Jan 2011
First Reit's Q4 revenue down 0.2%
First Real Estate Investment Trust (First Reit) has announced that gross revenue dropped 0.2 percent to S$7.65 million in Q4 2010, while net property income fell 0.3 percent to S$7.56 million.However, the Q4 distributable amount rose 2.8 percent to S$5.43 million. The company’s rights issue...
Continue Reading • 24 Jan 2011
UK mortgage costs to rise by over GBP 1,000
Many home owners in the UK are now suffering the pain of an impending increase in mortgage rates, as mortgage lenders in the country withdraw their affordable fixed-rate loans ahead of the expected increase, said an expert.A UK lender withdrew some of its most affordable mortgage deals last week...
Continue Reading • 21 Jan 2011
Ascott Reit's unitholders distribution up 108%
Ascott Residence Trust (Ascott Reit) has announced that its unitholders’ distribution for the fourth quarter of 2010 reached S$23.9 million, up 108 percent over the same period in 2009.Distribution per unit (DPU) for Q4 2010 stood at 2.16 cents, up 16 percent from Q4 2009.The trust’s...
Continue Reading • 21 Jan 2011
K-REIT Asia's distributable income rose 21.4% in 2010
K-REIT saw a 21.4 percent increase in distributable income to S$85.6 million for the full year 2010 compared to the previous year.The increase was mainly attributed to net property income, which jumped 37.7 percent to S$67.3 million, as well as the share of results of associated companies, which...
Continue Reading • 21 Jan 2011
MapletreeLog's Q4 distributable income up 17%
Mapletree Logistics Trust (MapletreeLog) has posted a total distributable income of S$37 million in the fourth quarter of 2010, up 17 percent from the previous quarter.Q4 gross revenue rose 12 percent to S$61 million in Q4, with the net property income (NPI) reflecting a 13 percent increase from...
Continue Reading • 21 Jan 2011
US mortgage applications continue to rise
US mortgage applications climbed for the third consecutive week, as the number of home owners looking to refinance their mortgages continue to soar from a one-year low.The Mortgage Bankers Association’s index of mortgage applications rose five percent in the week ended 14 January. Purchase...
Continue Reading • 20 Jan 2011
SLA to purchase 600,000 sq ft of land
The Singapore Land Authority (SLA) is acquiring about 600,000 sq ft of land for the construction of the first phase of the North South Expressway, which stretches from Admiralty Road West to Toa Payoh Rise.This is the first major compulsory land acquisition since 2001, when the SLA bought some...
Continue Reading • 20 Jan 2011
CapitaMall Trust's 2010 DPU climbs 4.6%
CapitaMall Trust Management Limited (CMTML), the manager of CapitaMall Trust (CMT), has achieved a distribution per unit (DPU) of 9.241 cents for the financial year ended 31 December 2010, up 4.6 percent compared to the previous year.This was attributed to the rental increases from new and...
Continue Reading • 20 Jan 2011
Asian economies to see modest growth this year
The rapid economic growth in Asia will moderate slightly this year, even as policymakers try to keep local currencies from appreciating sharply and fight soaring prices with higher interest rates, according to a quarterly poll conducted by Reuters.Growth in the majority of the 13 Asia Pacific...
Continue Reading • 20 Jan 2011
SGX Q2 profit up 14%
The Singapore Exchange has posted a 14 percent increase in revenue to S$172.2 million in the second quarter, attributed to increased trading activities in the securities market.Meanwhile, its adjusted net profit stood at S$81.7 million and its net profit without adjustment reached S$74.2 million,...
Continue Reading • 19 Jan 2011
Fixed loans in Australia increase: Mortgage Choice
The number of fixed loans in Australia rose to a 31-month high in December 2010, according to figures released by Mortgage Choice, Australia's largest independently-owned mortgage broker.Data from Mortgage Choice showed that fixed-rate mortgages rose in December for a third consecutive month,...
Continue Reading • 19 Jan 2011
NTUC Income acquires 49% stake in Savu Investments
NTUC Income announced that it has paid S$101 million for a 49 percent equity stake in Savu Investments, which owns 16 Collyer Quay, formerly known as Hitachi Tower.The 999-leasehold office building is valued at around S$626 million or S$2,250 psf. Located close to the waterfront in the Collyer...
Continue Reading • 19 Jan 2011
CCT's 2010 DPU up 11%
CapitaCommercial Trust Management Limited, manager of CapitaCommercial Trust (CCT), has announced that its distributable income rose 11.3 percent to S$221 million in the fiscal year ended 31 December 2010, while estimated distribution per unit (DPU) in FY2010 increased 10.9 percent year-on-year...
Continue Reading • 19 Jan 2011
UK mortgage loans drop: CML
The number of mortgages to purchase homes in the UK dropped 15 percent in November, compared to the same period in 2009, according to figures released by the Council of Mortgage Lenders (CML).However, the 44,000 home purchase loans in November 2010 equalled those in the preceding month of...
Continue Reading • 18 Jan 2011
TCT secures US$120m loan facility
Treasury Holdings Real Estate, the trustee manager of Treasury China Trust (TCT), announced that it has secured a three-year multi-currency loan facility equivalent to US$120 million to refinance its Central Plaza asset in Shanghai.The loan facility finalises the company’s immediate...
Continue Reading • 18 Jan 2011
A-REIT's Q3 gross revenue up 3.7%
Ascendas Real Estate Investment Trust (A-REIT) has announced that its gross revenue for the third quarter ended 31 December 2010 rose 3.7 percent to S$109 million from a year ago, as completed investments produced additional rental income.Additionally, net property income climbed two percent to...
Continue Reading • 18 Jan 2011
HSBC: Government faces risk on property market
HSBC said it is too early to tell if the measures implemented by the government to curb the property market are sufficient.Capital inflows and low interest rates have left financial conditions loose, driving up property prices in the country. The property market has also been the beneficiary of...
Continue Reading • 17 Jan 2011
MAS to get tough on mortgage equity loans
The Monetary Authority of Singapore (MAS) has proposed an imposition of the same lower loan limits as the new real estate measures, in an effort to close a loophole on mortgage equity financing (MEF).MAS proposed that MEF should be subject to the same loan-to-value (LTV) limit of 50 percent for...
Continue Reading • 17 Jan 2011