CapitaMall Trust reports 2.6% rise in Q4 DPU
By Kristie Neo | Posted: 18 January 2013 1821 hrs
SINGAPORE : CapitaMall Trust Management on Friday said its distribution per unit (DPU) was up 2.6 per cent to 2.36 cents in the fourth quarter of 2012.
For the full year, unitholders will receive a total of 9.46 cents for the fiscal year, compared to 9.37 cents in 2011.
CapitaMall Trust Management said that for the fourth quarter of 2012, its distributable income grew 5.7 per cent to over S$79 million.
For the full year, distributable income grew 5.1 per cent to more than S$316 million.
Gross revenue rose 10 per cent to S$173.67 million, while net property income increased 14.3 per cent to S$112.91 million during the same period.
The management attributed this to completed asset upgrades in malls like the "Atrium@Orchard", JCube and Bugis+.
Ongoing enhancements in IMM are also expected to contribute positively this year.
The management added that its new Westgate shopping mall at Jurong Gateway is on track to be completed later this year.
Moving forward, the management said that it will look at some of its older malls for possible upgrading opportunities.
Wilson Tan, CEO of CapitaMall Trust Management Limited, said: "This is something important because last year we (were) able to churn out three new asset enhancement exercises, and this is really going to bring us great profits...for 2013, so asset enhancement is an exercise we will continue to do."
- CNA/ms
- wong chee tat :)
Thursday, January 24, 2013
CapitaCommercial Trust reports 6.8% rise in DPU
CapitaCommercial Trust reports 6.8% rise in DPU
By Kristie Neo | Posted: 23 January 2013 1908 hrs
SINGAPORE: Singapore's CapitaCommercial Trust reported a 6.8 per cent increase on-year in its distribution to unit-holders for Q4 2012. This was mainly due to higher income from some of its buildings, as well as contributions from a newly acquired asset, Twenty Anson.
CCT, which includes buildings like Raffles City Tower, Capital Tower, Six Battery Road in its portfolio, reported a fourth quarter distribution per unit of 2.05 cents
For the full year, the REIT's distribution per unit rose 6.9 per cent to 8.04 cents. Its distributable income for the fourth quarter climbed seven per cent to 58.3 million.
The REIT said its occupancy rate increased to 97.2 per cent during Q4 2012 from 97.1 per cent in Q3, while Singapore's CBD average occupancy rate declined from 93.2 per cent in Q3 2012 to 92.2 per cent in Q4 2012.
Looking ahead, the REIT's manager pointed out that there is little risk of an oversupply in the Singapore office market -- just one new office building will be added to the supply in Singapore this year -- and the office rental market is showing signs of bottoming out.
Lynette Leong, CEO of CapitaCommercial Trust Management, said: "This year's supply is going to be quite low, at 0.8 million square feet. The average for the next three years is also going to be 0.8 million square feet. In the last three years, the demand was about 1.5 to 1.8 million square feet per annum.
"If you examine the rental trend, the rate of decline has also eased, so that is also another signal that the rent is reaching a trough. So we think that this year is a year that is poised for rental growth."
-CNA/ac
- wong chee tat :)
By Kristie Neo | Posted: 23 January 2013 1908 hrs
SINGAPORE: Singapore's CapitaCommercial Trust reported a 6.8 per cent increase on-year in its distribution to unit-holders for Q4 2012. This was mainly due to higher income from some of its buildings, as well as contributions from a newly acquired asset, Twenty Anson.
CCT, which includes buildings like Raffles City Tower, Capital Tower, Six Battery Road in its portfolio, reported a fourth quarter distribution per unit of 2.05 cents
For the full year, the REIT's distribution per unit rose 6.9 per cent to 8.04 cents. Its distributable income for the fourth quarter climbed seven per cent to 58.3 million.
The REIT said its occupancy rate increased to 97.2 per cent during Q4 2012 from 97.1 per cent in Q3, while Singapore's CBD average occupancy rate declined from 93.2 per cent in Q3 2012 to 92.2 per cent in Q4 2012.
Looking ahead, the REIT's manager pointed out that there is little risk of an oversupply in the Singapore office market -- just one new office building will be added to the supply in Singapore this year -- and the office rental market is showing signs of bottoming out.
Lynette Leong, CEO of CapitaCommercial Trust Management, said: "This year's supply is going to be quite low, at 0.8 million square feet. The average for the next three years is also going to be 0.8 million square feet. In the last three years, the demand was about 1.5 to 1.8 million square feet per annum.
"If you examine the rental trend, the rate of decline has also eased, so that is also another signal that the rent is reaching a trough. So we think that this year is a year that is poised for rental growth."
-CNA/ac
- wong chee tat :)
NTUC's My First Skool to lower fees for some children
NTUC's My First Skool to lower fees for some children
Posted: 23 January 2013 1804 hrs
SINGAPORE: NTUC First Campus said more than 60 per cent of parents with children at its childcare arm, My First Skool, can expect to pay lower fees.
It said this in response to the government's move to increase childcare and infant care subsidies for lower- and middle- income families from April.
NTUC First Campus said this will encourage more families to choose full-day childcare and infant care services.
It said My First Skool has done its part to keep fees affordable.
Its median childcare fee of S$642 is 14 per cent below the national median fee of S$750.
My First Skool last increased fees two years ago - by S$30.
- CNA/xq
- wong chee tat :)
Posted: 23 January 2013 1804 hrs
SINGAPORE: NTUC First Campus said more than 60 per cent of parents with children at its childcare arm, My First Skool, can expect to pay lower fees.
It said this in response to the government's move to increase childcare and infant care subsidies for lower- and middle- income families from April.
NTUC First Campus said this will encourage more families to choose full-day childcare and infant care services.
It said My First Skool has done its part to keep fees affordable.
Its median childcare fee of S$642 is 14 per cent below the national median fee of S$750.
My First Skool last increased fees two years ago - by S$30.
- CNA/xq
- wong chee tat :)
SMRT sacks 3 drivers allegedly involved in Nov strike
SMRT sacks 3 drivers allegedly involved in Nov strike
Posted: 23 January 2013 1629 hrs
SINGAPORE: SMRT has terminated the services of three bus drivers who are facing criminal charges for their alleged roles in a strike last November - for absence from work without valid reasons.
It said He Jun Ling, Gao Yue Qiang and Liu Xiang Ying breached the terms of their employment contracts.
The contract of a fourth driver, Wang Xianjie, who had also been charged and had not reported for work, expired on 14 January.
He is no longer employed by SMRT.
SMRT said in a statement on Wednesday that the four drivers had not reported for work since they were released on bail on 6 December 2012.
In the past six weeks, it had actively sought to maintain contact with them.
They had, until recently, refused direct communication with SMRT even though they were still employed and paid by SMRT.
They also moved out of the accommodation provided by the company and rejected SMRT's offers of alternate accommodation.
SMRT said their continued absence from work without official leave is a breach of the company's policy, as well as the terms of their employment contracts.
It suspended them from their duties, pending an internal disciplinary inquiry.
Notices of the inquiry were sent to their lawyers.
The inquiry was held on 17 January for He, Gao and Liu but the three were absent.
After considering the facts and evidence, the SMRT disciplinary board found that the three were absent from work without prior leave or reasonable explanation.
They also failed to inform or attempt to inform SMRT of the reasons for their absence.
Though the men's work permits have been revoked, they will have to remain in Singapore as their case is before the courts.
- CNA/xq
- wong chee tat :)
Posted: 23 January 2013 1629 hrs
SINGAPORE: SMRT has terminated the services of three bus drivers who are facing criminal charges for their alleged roles in a strike last November - for absence from work without valid reasons.
It said He Jun Ling, Gao Yue Qiang and Liu Xiang Ying breached the terms of their employment contracts.
The contract of a fourth driver, Wang Xianjie, who had also been charged and had not reported for work, expired on 14 January.
He is no longer employed by SMRT.
SMRT said in a statement on Wednesday that the four drivers had not reported for work since they were released on bail on 6 December 2012.
In the past six weeks, it had actively sought to maintain contact with them.
They had, until recently, refused direct communication with SMRT even though they were still employed and paid by SMRT.
They also moved out of the accommodation provided by the company and rejected SMRT's offers of alternate accommodation.
SMRT said their continued absence from work without official leave is a breach of the company's policy, as well as the terms of their employment contracts.
It suspended them from their duties, pending an internal disciplinary inquiry.
Notices of the inquiry were sent to their lawyers.
The inquiry was held on 17 January for He, Gao and Liu but the three were absent.
After considering the facts and evidence, the SMRT disciplinary board found that the three were absent from work without prior leave or reasonable explanation.
They also failed to inform or attempt to inform SMRT of the reasons for their absence.
Though the men's work permits have been revoked, they will have to remain in Singapore as their case is before the courts.
- CNA/xq
- wong chee tat :)
Citibank launches new smart banking machine
Citibank launches new smart banking machine
By Brandon Tanoto | Posted: 23 January 2013 2017 hrs
SINGAPORE: Consumers will soon be able to access almost all branch banking services round-the-clock via a smart banking machine.
Citibank's customers can now open bank accounts and even apply for loans using the machine, which is located at Paragon Shopping Mall. In future, this machine can also instantly print and issue ATM, debit and credit cards.
For a personal touch, customers can also communicate with a bank officer via video conferencing.
Citibank said these banking machine will also be equipped with biometric capabilities for customer identity authentication.
The first Citibank Express machines were unveiled in both Singapore and Malaysia on Wednesday.
The smart banking machines will be rolled out at Citibank's nine instant banking centres in Singapore over the next three years. The bank is also looking to install these machines in shopping malls, neighbourhood hubs and commercial hubs to reach out to its customers.
CEO for Citi in the Asean region, Michael Zink, said: "This rollout across ASEAN underlines the importance of this region to Citi, both in Asia and globally.
"ASEAN is home to a fast-growing and dynamic consumer base who wants to bank with a partner that embraces high technology to meet the evolving needs of our customers."
Looking ahead, Citibank plans to add more locations for the new machine across Asia.
-CNA/ac
- wong chee tat :)
By Brandon Tanoto | Posted: 23 January 2013 2017 hrs
SINGAPORE: Consumers will soon be able to access almost all branch banking services round-the-clock via a smart banking machine.
Citibank's customers can now open bank accounts and even apply for loans using the machine, which is located at Paragon Shopping Mall. In future, this machine can also instantly print and issue ATM, debit and credit cards.
For a personal touch, customers can also communicate with a bank officer via video conferencing.
Citibank said these banking machine will also be equipped with biometric capabilities for customer identity authentication.
The first Citibank Express machines were unveiled in both Singapore and Malaysia on Wednesday.
The smart banking machines will be rolled out at Citibank's nine instant banking centres in Singapore over the next three years. The bank is also looking to install these machines in shopping malls, neighbourhood hubs and commercial hubs to reach out to its customers.
CEO for Citi in the Asean region, Michael Zink, said: "This rollout across ASEAN underlines the importance of this region to Citi, both in Asia and globally.
"ASEAN is home to a fast-growing and dynamic consumer base who wants to bank with a partner that embraces high technology to meet the evolving needs of our customers."
Looking ahead, Citibank plans to add more locations for the new machine across Asia.
-CNA/ac
- wong chee tat :)
Keppel Land adopts "wait-and-see" approach after property cooling measures
Keppel Land adopts "wait-and-see" approach after property cooling measures
By Lynda Hong | Posted: 23 January 2013 2323 hrs
SINGAPORE: Property group Keppel Land expects new home sales in Singapore to "come down quite a bit" this year, after new private home sales hit a record 22,000 units in 2012.
The developer of Reflections at Keppel Bay is not going to rush into launching new projects in the coming months. Instead, Keppel Land is adopting a wait-and-see approach, before making its next move. This after the seventh round of property cooling measures were introduced by the government earlier this month.
Already, some developers, like Qbay, have announced discounts to move sales.
Ang Wee Gee, CEO of Keppel Land, said: "We see prices perhaps consolidating. But we don't see a major correction. But neither do we see the price spiking further because the government will introduce further measures to dampen it. So I suppose where the situation, where the upside possibility is not high, but the downside risk may not be that high as well."
Keppel Land has a huge cash position of S$1.6 billion. This gives it holding power from launching new projects till markets improve. But the company reports net profit in Q4 2012 halved from a year earlier to S$527.3 million. Full year net profit was 39 per cent lower at S$838.37 million.
Still, Keppel Land's earnings beat analysts expectations.
Wilson Liew, an analyst at Maybank-Kim Eng, said: "We are looking at how China sales performed this year as they have shown in FY 2012 that sales rebounded somewhat, and we hope to see the sales momentum to be carried into 2013.
"We also would look out for the potential divestment of Marina Bay Financial Centre Tower 3, sometime this year. In Singapore, we are likely to see a slowdown in sales for the next three months on the back of the cooling measures.
"But we still think that the long-term fundamentals are still attractive, particularly for the residential sector and we will lookout how well Keppel Land does in their launches, such as the ones in Tanah Merah."
Key contributors to last year's total sales of 2,350 homes, Singapore and China will continue to be Keppel Land's core market. The property giant said the stringent cooling measures introduced in the two countries will prevent asset bubbles from forming, supporting a healthy development of these markets. So far, half of Keppel Land's assets are in Singapore, while 35 per cent are in China.
Keppel Land also proposed a final dividend of 12 cents per share.
-CNA/ac
- wong chee tat :)
By Lynda Hong | Posted: 23 January 2013 2323 hrs
SINGAPORE: Property group Keppel Land expects new home sales in Singapore to "come down quite a bit" this year, after new private home sales hit a record 22,000 units in 2012.
The developer of Reflections at Keppel Bay is not going to rush into launching new projects in the coming months. Instead, Keppel Land is adopting a wait-and-see approach, before making its next move. This after the seventh round of property cooling measures were introduced by the government earlier this month.
Already, some developers, like Qbay, have announced discounts to move sales.
Ang Wee Gee, CEO of Keppel Land, said: "We see prices perhaps consolidating. But we don't see a major correction. But neither do we see the price spiking further because the government will introduce further measures to dampen it. So I suppose where the situation, where the upside possibility is not high, but the downside risk may not be that high as well."
Keppel Land has a huge cash position of S$1.6 billion. This gives it holding power from launching new projects till markets improve. But the company reports net profit in Q4 2012 halved from a year earlier to S$527.3 million. Full year net profit was 39 per cent lower at S$838.37 million.
Still, Keppel Land's earnings beat analysts expectations.
Wilson Liew, an analyst at Maybank-Kim Eng, said: "We are looking at how China sales performed this year as they have shown in FY 2012 that sales rebounded somewhat, and we hope to see the sales momentum to be carried into 2013.
"We also would look out for the potential divestment of Marina Bay Financial Centre Tower 3, sometime this year. In Singapore, we are likely to see a slowdown in sales for the next three months on the back of the cooling measures.
"But we still think that the long-term fundamentals are still attractive, particularly for the residential sector and we will lookout how well Keppel Land does in their launches, such as the ones in Tanah Merah."
Key contributors to last year's total sales of 2,350 homes, Singapore and China will continue to be Keppel Land's core market. The property giant said the stringent cooling measures introduced in the two countries will prevent asset bubbles from forming, supporting a healthy development of these markets. So far, half of Keppel Land's assets are in Singapore, while 35 per cent are in China.
Keppel Land also proposed a final dividend of 12 cents per share.
-CNA/ac
- wong chee tat :)
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