Parkway Life REIT purchases nursing home in Japan

Parkway Life REIT purchases nursing home in Japan

PLife REIT purchased Ocean View Shonan Arasaki for S$18.9 million from Oueikikaku Kabushiki Kaisha. This follows an earlier acquisition of Habitation Jyosui, announced on Nov 28 this year.

SINGAPORE: Parkway Life Real Estate Investment Trust (PLife REIT) has purchased a nursing home and care facility property in Japan, its second acquisition in the fourth quarter of 2014, it announced in a press release on Friday (Dec 19).

PLife REIT purchased Ocean View Shonan Arasaki for ¥1,700 million (S$18.9 million) from Oueikikaku Kabushiki Kaisha. This follows an earlier acquisition of Habitation Jyosui, announced on Nov 28 this year.

With the recent acquisition, PLife REIT's Japan portfolio will stand at approximately S$518 million, or about 33 per cent of total assets under management, the press release said.

The acquisition is expected to be completed by January 2015. It is also expected to generate a net property yield of 6.9 per cent, the press release added.

- CNA/dl

- wong chee tat :)

Singapore's Parkway says to cut staff, salaries

Singapore's Parkway says to cut staff, salaries
Reuters
Reuters - Monday, December 15

SINGAPORE, Dec 15 - Singapore hospital and healthcare operator Parkway Holdings said on Monday it will cut salaries and lay off up to 4 percent of its staff in a bid to rein in costs.

"The group is not immune to the current global economic challenges," the firm said in a statement.

Parkway, part-owned by Malaysian sovereign wealth fund Khazanah Nasional Bhd, said its directors would not receive any fees for 2008 while senior managers' salaries would be cut by 15-35 percent.

For middle management, the reductions would be between 5 and 10 percent, it said. Parkway did not say how many people would be affected by the job cuts.

- wong chee tat :)