Suntec REIT

[Sylvan Beau]

I noticed that there are a sum of 750 Million that is due in 2014.

Will it caused an rights issue for repayment?

[Boon]

Suntec Reit's Q4 distribution income rises 11 per cent to $58.2m

Dennis Chan
The Straits Times
Sunday, Jan 26, 2014

Suntec Real Estate Investment Trust (Suntec Reit) has achieved an 11 per cent rise in distribution income to S$58.2 million for the fourth quarter. Gross revenue for the three months to Dec 31 climbed by 30.2 per cent to S$71.7 million. This was mainly due to the opening of Suntec City mall (Phase1) and Suntec Singapore following the completion of its asset enhancement works. For the same reasons, net property income soared 62.9 per cent to S$49.8 million. Distribution per unit (DPU) for the quarter rose 10.1 per cent to 2.562 cents. For the full year, distribution income fell 0.9 per cent to S$211.2 million. DPU fell by 1.7 per cent to 9.328 cents, working out to a yield of 5.9 per cent based on the unit's closing price yesterday. Of its retail portfolio, the committed occupancy for Suntec City mall (Phase 1) was 99.6 per cent while the committed occupancy for the rest of the mall unaffected by enhancement works was 91.3 per cent. Park Mall maintained full occupancy, taking the overall committed occupancy for the retail portfolio to 97.3 per cent as at Dec 31. Of its office portfolio, Suntec City Office Towers kept its high committed occupancy of 99.2 per cent, while Park Mall office was fully occupied. Jointly controlled entities, One Raffles Quay and MBFC Properties, had full occupancy. Overall committed occupancy for Suntec Reit's office portfolio stood at 99.6 per cent. Suntec Reit made its first foray overseas during the quarter.

Last November, it announced the acquisition of 177-199 Pacific Highway, in North Sydney, a freehold property to be developed for A$413.19 million (S$468 million).

The 31-storey A grade commercial tower is fully pre-committed, and when it is completed in early 2016, will be the area's newest landmark office tower.

Mr Yeo See Kiat, chief executive officer of ARA Trust Management (Suntec) that manages Suntec Reit, said the deal will lift earnings and boost distribution income to unitholders as there will be coupon payments of 6.32 per cent a year payable to Suntec Reit during the construction.

"Unitholders will also enjoy income certainty and stability through the long lease terms with annual rental escalations."

As for Phase 2 of the remaking of Suntec City, it has achieved a pre-committed occupancy of 97 per cent to date.

"Based on our leasing progress, our projected rental enhancement and return on investment of 10.1 per cent are on track," he said.

Additional food and beverage offerings in Phase 2 include Marché, McDonald's and Andersen's of Denmark while the new retail brands that have signed up include Avenue Kids, Bricksworld, Cellini and Cold Wear.

Suntec Reit units yesterday eased half a cent to S$1.585.

The results were announced after the market closed.

http://business.asiaone.com/news/suntec-...-cent-582m

(Not Vested)

[yanziyang]

Suntec Singapore inks 3-year deal with JEC Composites

It'll be the venue for global CONFEX events.

According to a release, Suntec Singapore Convention & Exhibition Centre (Suntec Singapore) announced a three-year deal with JEC Group reconfirming its position as the venue of choice for major global CONFEX events and the ideal partner for developing and growing events over time.

Convened by JEC Group, the world’s largest organization exclusively dedicated to the promotion of the composites industry, JEC Asia Composites Show & Conferences (7th edition in 2014) provides the continent’s premier venue for composites designers, manufacturers and suppliers to showcase their technologies, expand their expertise, network with a wide array of industry professionals and gain a competitive edge in this dynamic market. JEC Asia is the leading event in Asia-Pacific for composites professionals to network and share knowledge over three days of events, conferences and activities next November 17 – 19, 2014 at Suntec Singapore.“

We are delighted to continue with our long standing collaboration with Suntec Singapore, which has been our home since the first JEC Asia in 2008” said Mrs. Frédérique Mutel, JEC’s president and chief executive officer. “Since 2008, JEC Asia has not stopped growing its influence and network, allowing us to open JEC offices in Singapore in 2013 with staff dedicated to local and regional needs. Today, we are particularly excited to take full advantage of the many new enhancements that Suntec Singapore has put into place. Over the years we’ve been impressed by the facilities and service that Suntec Singapore has offered us and we look forward to continue working with the team to take JEC Asia to greater heights.”

In 2014, JEC Asia targets to attract 5,000 delegates and visitors and 300 exhibiting companies from 50 countries.

The growing interest in Asia is driven by the region’s key strategic position for the composites industry, having overtaken the Americas and Europe in terms of production. Asia represents 41% in production volume compared to 32% in the Americas and 20% in Europe and is expected to reach 50% by 2015. In 2012, out of an estimated €83 billion global composites market, €29 billion was generated in Asia-Pacific, i.e. 36% of the market against 34% in the Americas and 23% in Europe. Moreover, Singapore being one of the composites hubs for Asia Pacific, has been selected Country Guest of Honour for JEC Asia 2014.
“We are delighted to be chosen as the preferred venue for the JEC group in Singapore. Renewing ties with our long term partner and winning this event for the next three years is very gratifying” states Arun Madhok, CEO, Suntec Singapore Convention & Exhibition Centre, “On a personal note, JEC Asia has been a real eye opener for me. It boggles the mind just how important and ubiquitous composites are in our daily lives and even for a venue like Suntec Singapore.”

In choosing Suntec Singapore as their home for the next three years, the JEC Group will benefit from Suntec Singapore’s new technological advances including free WiFi for up to 6,000 simultaneous connections, a sophisticated digital screen network and the essential flexible customisable space necessary to host a wide variety of activities.

In particular, the ability to quickly switch room configurations and resize meeting rooms and conference halls was a key factor in JEC Group’s decision to enter into a long term agreement.

“We have big plans for the coming years” adds Mr Madhok, “With the support of our loyal clients, dedicated staff and a venue that is second to none, Suntec Singapore will continue to be the preferred place to meet in Singapore and Asia.”

(vested)

[Andrew Q]

I did a calculation on the additional profit of Suntec. Upon completion of the AEI, there will be a additional of 165412 sqft of lettable space. Using the passing rent average of $10.09 (before AEI), that is additional $1.65mil of revenue per month.
But with the current price, dividend yield will be small if you enter market now.

(Vested)

[greengiraffe]

Suntec keen to expand portfolio
GREG BROWN THE AUSTRALIAN MARCH 06, 2014 12:00AM

A $7.6 billion Singaporean property trust, Suntec REIT, is looking to invest in prime office buildings in Sydney and Melbourne as the weight of Asian capital continues to push into Australian office markets.

Suntec chief executive Yeo See Kiat said the trust, which is managed by the behemoth ARA Asset Management, would add to its first Australian investment. In November, Suntec REIT bought Leighton Holdings’ new headquarters, under construction in North Sydney, for $413.19 million.

It would follow the capital that has flowed into Australian office buildings from other Singaporean groups, such as Far East Organisation, City Developments and Rockworth Capital Partners. Mr Yeo said the trust had no specific target for the amount of assets it aimed to manage in Australia, but would look for opportunities that suited its portfolio, which is prime stock with a strong lease covenant.

“Definitely, if there are meaningful opportunities we will be interested,” he said. “Our initial investment focus will be on top-tier cities Sydney and Melbourne.”

Foreign investors dominated Sydney CBD sales last year, purchasing 54 per cent of the stock sold, according to Savills.

Listed companies from Singapore, China and Hong Kong were especially active in buying sites with the potential for residential conversion, said Savills director of residential site sales, Stuart Cox.

Mr Yeo would not be drawn on why Asian groups were attracted to Australian office markets. However, he outlined what attracted the group to the Leighton-built 177 Pacific Highway.

“All of the key points of my strategy lined up: prime buildings, good partners and long-term lease commitments,” he said. Besides, the Leighton lease would be a good source of income, he said.

Mr Yeo any acquisitions the trust made would have secure long-term leases.

[greengiraffe]

That total was boosted by the Suntec REIT's $413 million into Leighton ­Properties' Pacific Highway project in North Sydney. The Singaporean trust's foray is the largest suburban office deal in Australia on record - ie not prime cbd office assets.

Suburban office markets demand undiminished

Nick Lenaghan
747 words
22 Apr 2014
The Australian Financial Review
AFNR
English
Copyright 2014. Fairfax Media Management Pty Limited.
Investment dollars are flowing strongly into suburban office markets this year, with demand so far undiminished despite the large transaction volumes on metropolitan properties reached in 2013.

A traditional hunting ground for ­privates and syndicators, the suburban market is getting renewed attention as the major listed players mount high-profile investment plays into the sector.

Among them, GPT has already snared two significant properties, one apiece in Melbourne and Brisbane, to seed its new unlisted metropolitan fund.

Its most recent purchase in April was a $63 million building in Melbourne's Hawthorn. The 13,000-square-metre asset was acquired on an 8.75 per cent initial yield.

In November last year, the fledgling fund snapped up Optus Centre in Fortitude Valley, Brisbane, for $110 million on a yield close to 7.8 per cent.

JLL agent Rob Anderson, who brokered GPT's Melbourne deal, said the pool of institutional grade stock avail­able for investment in the suburban markets is relatively limited.

"You can measure the returns and they are surprisingly very stable. We're getting to the point where we can measure medium-to-long-term returns of this A-grade end of the suburban ­market," he said.

"There's the relative-value argument. If you can get a 1 per cent yield ­differential on a good building in a good suburb that has a good performance history, that ticks a lot of boxes for institutional-grade investors."

Underlining the case for the suburbs, fund manager 360 Capital Group is floating a $235 million trust focused mostly on suburban office assets.

Investors flocked into the trust's $155 million raising, with the forecast of an 8.5 per cent dividend yield, backed by a mandate to invest in A-grade suburban office properties and B-grade city office buildings.Port Melbourne flurry

Retail investors are also proving to be strong supporters of the syndicate model, such as those put together for Anthony Wilson's Podco Property.

In its latest deal, a Podco syndicate acquired a Port Melbourne office building from Challenger Diversified for $26.25 million.

Colliers agent Rob Joyes, who handled the transaction, said there had been a flurry of deals in the Port Melbourne area, as zoning changes propelled activity in the inner-city suburb.

"Metropolitan sales are already totalling $176 million year to date and there is strong interest from a range of buyers, including institutions, developers and particularly private investors, both offshore and local," Mr Joyes said.

The appetite for suburban assets appears unabated notwithstanding the very large flows into the sector in 2013.

Suburban deal flow rose to near $3.7 billion across the Australian ­markets last year, the highest volume since 2007.

In Sydney, it was close to $2 billion. That total was boosted by the Suntec REIT's $413 million into Leighton ­Properties' Pacific Highway project in North Sydney. The Singaporean trust's foray is the largest suburban office deal in Australia on record.

In Melbourne, metro market sales neared $1 billion, in a record year for that market.

Overall 2013 was a very strong year for CBD investment, as recapitalised local institutions, offshore pension and sovereign wealth funds, and developers looking for conversion opportunities competed for stock, said Colliers researcher Anneke Thompson.Alternatives to the CBD markets

At the same time, the suburbs have now become established alternatives to the CBD markets.

"The opportunity for metro office markets in 2014 is to absorb some of this demand for stock that can't be met by Australia's five major CBD markets alone," Ms Thompson said .

But not all metro markets will be able to absorb that demand, as many locations still lack institutional-grade stock.

The North Sydney market has proven itself as a destination for local institutional and offshore investors. Brisbane's urban renewal precinct, including Fortitude Valley, is also a favoured metro market for institutional investors.

"In Melbourne, St Kilda Road is one of the few metro markets with stock of sufficient scale and quality to attract CBD-type capital," Ms Thompson said.

"It is expected unlisted retail funds will be one of the first groups with mandates to acquire property in the ­precinct."

Late last year, Cromwell Property Group and its South African backer, Redefine Properties, acquired Northpoint in North Sydney for $278.7 million as the seed asset for an unlisted wholesale fund.

The transaction was struck on an 8.7 per cent initial yield.


Fairfax Media Management Pty Limited

Document AFNR000020140421ea4m0001a

[Boon]

The Board of Directors (the “Board”) of The Straits Trading Company Limited (the “Company”) wishes to announce that Straits Real Estate Pte. Ltd., a subsidiary of the Company, has, pursuant to a series of transactions, purchased from the open market an aggregate number of 35,068,000 units in Suntec Real Estate Investment Trust (“Suntec
REIT”, and its issued and fully paid-up units, the “Units”), representing approximately 1.4% of the Units1 (the “Market Acquisitions”).

http://infopub.sgx.com/FileOpen/Acquisit...eID=295307

(not vested)

[greengiraffe]

http://www.businesstimes.com.sg/companie...ion-higher

Suntec Reit's Q3 unit distribution higher
DPU of 2.328 Singapore cents comes on the back of 12.4% rise in total distributable income to S$58.3m

By
Mindy Tantanmindy@sph.com.sg@MindyTanBT
BT_20141022_MTSUN22_1331254.jpg MR YEO: Says current priorities include focusing on the execution and completion of the remaking of Suntec City
22 Oct5:50 AM
Singapore

SUNTEC Real Estate Investment Trust's distribution per unit (DPU) for the third quarter ended September inched up from 2.289 Singapore cents a year ago to 2.328 Singapore cents.

This was on the back of total distributable income jumping 12.4 per cent, from S$51.8 million

[Layman A]

Is there a possibility that Suntec REIT will proceed to purchase the MBFC 3 in the near future ?

Given that they have already own MBFC 1 and 2 , and the known fact the Li Ka Shing Cheung Kong group have been actively reducing their stake in properties all over the world ?

[chezball]

This reit has done well for me but i think they are facing a lot of headwinds on the retail front. Do see my qualitaive assessment of this counter after I have attended the AGM.

http://wealthdirections.asia/denied-entr...-reit-agm/