Keppel Corp launches bid to take Keppel Land private
Keppel Corp, the world's largest maker of offshore oil rigs, currently owns 54.6 per cent of Kepland, a major Singapore property developer.
SINGAPORE: Keppel Corporation on Friday (Jan 23) launched a voluntary unconditional cash offer for all the remaining shares of subsidiary Keppel Land in a deal that values its property arm at S$7.1 billion.
Keppel Corp, the world's largest maker of offshore oil rigs, currently owns 54.6 per cent of Kepland, a major Singapore property developer.
Keppel Corp said it is offering a base offer price of S$4.38 for each Keppel Land share. A higher offer price of S$4.60 per share will be paid if Keppel Corp is entitled to exercise its rights of compulsory acquisition.
Explaining the rationale for the offer, Keppel Corp CEO Loh Chin Hua said Keppel Corp wants to be a strong conglomerate with sizeable contributions from its three core businesses. "This is a sound and well-timed investment in a business which has been integral to Keppel Corp and is in core markets like Singapore, China, Indonesia and Vietnam - where we hold a long-term positive view," he added.
Kepland shares were last traded at S$3.65.
- CNA/ac
- wong chee tat :)
Showing posts with label keppel reit. Show all posts
Showing posts with label keppel reit. Show all posts
Friday, January 23, 2015
Wednesday, November 5, 2014
Keppel T&T confirms plans for data centre REIT
Keppel T&T confirms plans for data centre REIT
This follows earlier reports that Keppel T&T is set to start pre-marketing for the IPO next week for a REIT of its data centres. The REIT is estimated at between US$200 million and US$400 million.
SINGAPORE: Keppel Telecommunications & Transportation (Keppel T&T) has confirmed that it is planning an initial public offering and that efforts to list a data centre real estate investment trust on the mainboard of the SGX are currently ongoing.
The statement came in a stock exchange filing on Thursday evening (Oct 30). It follows earlier reports that Keppel T&T is set to start pre-marketing for the IPO next week for a REIT of its data centres. The REIT is estimated at between US$200 million and US$400 million (between S$255 million and S$511 million).
In its statement on Thursday, Keppel T&T said that it has submitted applications for the IPO to the SGX and the Monetary Authority of Singapore. However, it also added that the details of the terms of the IPO are still being finalised and that the proposed listing will be subject to, among other things, market conditions and relevant regulatory approvals being obtained.
A successful listing will make this the first data centre trust in Asia.
- CNA/ac
- wong chee tat :)
This follows earlier reports that Keppel T&T is set to start pre-marketing for the IPO next week for a REIT of its data centres. The REIT is estimated at between US$200 million and US$400 million.
SINGAPORE: Keppel Telecommunications & Transportation (Keppel T&T) has confirmed that it is planning an initial public offering and that efforts to list a data centre real estate investment trust on the mainboard of the SGX are currently ongoing.
The statement came in a stock exchange filing on Thursday evening (Oct 30). It follows earlier reports that Keppel T&T is set to start pre-marketing for the IPO next week for a REIT of its data centres. The REIT is estimated at between US$200 million and US$400 million (between S$255 million and S$511 million).
In its statement on Thursday, Keppel T&T said that it has submitted applications for the IPO to the SGX and the Monetary Authority of Singapore. However, it also added that the details of the terms of the IPO are still being finalised and that the proposed listing will be subject to, among other things, market conditions and relevant regulatory approvals being obtained.
A successful listing will make this the first data centre trust in Asia.
- CNA/ac
- wong chee tat :)
Thursday, May 15, 2014
Saturday, June 8, 2013
Monday, April 15, 2013
Keppel REIT books 20.7% increase in Q1 net property income
Keppel REIT books 20.7% increase in Q1 net property income
POSTED: 15 Apr 2013 9:24 PM
Keppel Real Estate Investment Trust (REIT) booked a 20.7 per cent on-year increase in its first quarter net property Income at S$34.4 million.
SINGAPORE: Keppel Real Estate Investment Trust (REIT) booked a 20.7 per cent on-year increase in its first quarter net property Income at S$34.4 million.
Keppel REIT said the growth was primarily driven by higher occupancies and improved performance from Ocean Financial Centre and 77 King Street which contributed to the increase in property income.
In Q1, Keppel REIT saw property income rose by 13.2 per cent on-year to S$41.4 million.
In a statement, the trust said its distributable income for 1Q 2013 increased 7.6 per cent to S$52.2 million, compared to the previous year.
Its distribution per unit (DPU) for 1Q 2013 stood at 1.97 cents, up by 3.7 per cent on-year. On an annualised basis, its DPU was 7.99 cents -- that is 4.6 per cent higher than the previous year.
Looking ahead, Keppel REIT said it remains confident of the performance of its property portfolio. It added that as at end Q1 2013, its portfolio occupancy was nearly 99 per cent.
The trust manager said all refinancing for 2013 has been completed and the refinanced sum for 2013 has been termed out to 2018 and the weighted average term to expiry has been extended to 3.2 years.
Apart from focusing on efforts to maintain a high occupancy for its properties, Keppel REIT said it will also selectively pursue opportunities for strategic acquisitions to drive growth.
- CNA/ac
- wong chee tat :)
POSTED: 15 Apr 2013 9:24 PM
Keppel Real Estate Investment Trust (REIT) booked a 20.7 per cent on-year increase in its first quarter net property Income at S$34.4 million.
SINGAPORE: Keppel Real Estate Investment Trust (REIT) booked a 20.7 per cent on-year increase in its first quarter net property Income at S$34.4 million.
Keppel REIT said the growth was primarily driven by higher occupancies and improved performance from Ocean Financial Centre and 77 King Street which contributed to the increase in property income.
In Q1, Keppel REIT saw property income rose by 13.2 per cent on-year to S$41.4 million.
In a statement, the trust said its distributable income for 1Q 2013 increased 7.6 per cent to S$52.2 million, compared to the previous year.
Its distribution per unit (DPU) for 1Q 2013 stood at 1.97 cents, up by 3.7 per cent on-year. On an annualised basis, its DPU was 7.99 cents -- that is 4.6 per cent higher than the previous year.
Looking ahead, Keppel REIT said it remains confident of the performance of its property portfolio. It added that as at end Q1 2013, its portfolio occupancy was nearly 99 per cent.
The trust manager said all refinancing for 2013 has been completed and the refinanced sum for 2013 has been termed out to 2018 and the weighted average term to expiry has been extended to 3.2 years.
Apart from focusing on efforts to maintain a high occupancy for its properties, Keppel REIT said it will also selectively pursue opportunities for strategic acquisitions to drive growth.
- CNA/ac
- wong chee tat :)
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