Real Estate, General Equities

Will Tan

Thematic (Sector/Industry)

<div class="content-highlight"><p>Towards the end of 2017, there are acquisitions signed notably i) <a href="https://www.smartkarma.com/entities/1670" target="_blank" data-smartkarma-citation="entities:1670:1">Frasers Centrepoint Ltd (FCL SP)</a>'s acquisition of a portfolio of 6 logistics cross-dock facilities in Germany for EUR247m as well as ii) <a href="https://www.smartkarma.com/entities/55" target="_blank" data-smartkarma-citation="entities:55:1">Capitaland Ltd (CAPL SP)</a> and <a href="https://www.smartkarma.com/entities/11675" target="_blank" data-smartkarma-citation="entities:11675:1">Lum Chang Holdings Ltd (LCH SP)</a> JV acquisition of German office building in Frankfurt for EUR$234.3m. These deals trail <a href="https://www.smartkarma.com/entities/2894" target="_blank" data-smartkarma-citation="entities:2894:1">Global Logistic Properties Ltd (GLP SP)</a>'s <a href="https://www.reuters.com/article/us-glp-m-a-gazelle/global-logistic-properties-buys-european-logistics-firm-for-2-8-billion-idUSKCN1C7001" target="_blank">recent acquisition of European logistics platform Gazeley for about $2.8 billion</a> and reflect market…</p></div>

Towards the end of 2017, there are acquisitions signed notably i) Frasers Centrepoint Ltd (FCL SP)'s acquisition of a portfolio of 6 logistics cross-dock facilities in Germany for EUR247m as well as ii) Capitaland Ltd (CAPL SP) and Lum Chang Holdings Ltd (LCH SP) JV acquisition of German office building in Frankfurt for EUR$234.3m. These deals trail Global Logistic Properties Ltd (GLP SP)'s recent acquisition of European logistics platform Gazeley for about $2.8 billion and reflect market…

Takeaways from FCL's Germany Logistics Portfolio Acquisition and Thoughts on S-REIT Implications

Singapore and emerging market real estate

Royston Foo

<p>Singapore construction company – <a href="https://www.smartkarma.com/entities/17636" target="_blank" data-smartkarma-citation="entities:17636:1">Lian Beng Group Ltd (LBG SP)</a>  announced that it was awarded a contract worth S$136.8 mil to construct a condominium development at Potong Pasir Avenue 1. This site was the former Raintree Gardens site, a former HUDC estate that was acquired by <a href="https://www.smartkarma.com/entities/142" target="_blank" data-smartkarma-citation="entities:142:1">Uol Group Ltd (UOL SP)</a> and <a href="https://www.smartkarma.com/entities/12891" target="_blank" data-smartkarma-citation="entities:12891:1">United Industrial Corp Ltd (UIC SP)</a> for S$334.2 mil in October 2016.</p><p>This may seem like a normal award of a contract by a developer to a construction company, but we think that the timing of the…</p>

Singapore construction company – Lian Beng Group Ltd (LBG SP)  announced that it was awarded a contract worth S$136.8 mil to construct a condominium development at Potong Pasir Avenue 1. This site was the former Raintree Gardens site, a former HUDC estate that was acquired by Uol Group Ltd (UOL SP) and United Industrial Corp Ltd (UIC SP) for S$334.2 mil in October 2016.This may seem like a normal award of a contract by a developer to a construction company, but we think that the timing of the…

When Actions Speak Louder Than Words – UOL and UIC's Optimism on Singapore Residential

<p>This is a weekly summary covering the week of 23 Oct 2017 on news flow reported in the media and updates on the Singapore REIT (S-REIT) sector, along with a recap on notable research by the Smartkarma community.</p><p>S-REITs quarterly results season is underway, so this update mainly covers snippets from selected results release by various S-REITs during the week. Notably, <a href="https://www.smartkarma.com/entities/40" target="_blank" data-smartkarma-citation="entities:40:1">Mapletree Industrial Trust (MINT SP)</a> makes its first inroad to US Data Centres with a portfolio purchase after recently expanding its investment mandate. </p>

This is a weekly summary covering the week of 23 Oct 2017 on news flow reported in the media and updates on the Singapore REIT (S-REIT) sector, along with a recap on notable research by the Smartkarma community.S-REITs quarterly results season is underway, so this update mainly covers snippets from selected results release by various S-REITs during the week. Notably, Mapletree Industrial Trust (MINT SP) makes its first inroad to US Data Centres with a portfolio purchase after recently expanding its investment mandate. 

S-REIT Weekly: What Transpired in the S-REIT Scene - MIT Ventures into US Data Centres

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

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Pure-Play Real Estate Broker APAC Realty Debuts on SGX

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<p><strong>The Singapore government has just recently raised the development charge (DC) rates for several land use groups, with the most significant increase for non-landed residential use on 01 Sept 17. </strong></p>
<ul>
<li><strong>By way of background, DC is payable to the government by developers for change to higher land usage or intensifying land use (for example, increase in plot ratio), and is a proxy for property prices by market watchers. </strong></li>
<li>
<strong>The increase for non-landed residential use is by an average of 13.8%, while commercial</strong>…</li>
</ul>
</div>


The Singapore government has just recently raised the development charge (DC) rates for several land use groups, with the most significant increase for non-landed residential use on 01 Sept 17. 

By way of background, DC is payable to the government by developers for change to higher land usage or intensifying land use (for example, increase in plot ratio), and is a proxy for property prices by market watchers. 

The increase for non-landed residential use is by an average of 13.8%, while commercial…



Steep DC Rate Hike Another Datapoint Vindicating Residential Price Recovery in Play

Singapore

Singapore Land Group Limited operates as a real estate company. The Company develops and invests in properties, and provides property management, information technology, development management and consultancy services, as well as trades in computers and related products, and invests in hotels and retail centers. Singapore Land Group serves clients in Singapore.

UOL Group Limited is a property company. The Company has a diversified portfolio of development and investment properties, hotels, and serviced suites. UOL Group, through its subsidiary owns a portfolio of commercial assets and hotels. UOL Group operates in Asia, Oceania, and North America.

City Developments Limited is a property developer and owner. The Company, through its subsidiaries, are principally engaged in the investment of properties and shares, property management, project management and the provision of consultancy services, hospitality-related information technology, and procurement services. City Developments has a global presence.

GuocoLand Limited is a regional property company with operations in Singapore, China, Malaysia and Vietnam. Headquartered in Singapore, the principal business activities of GuocoLand and its subsidiaries (“the Group”) are property development, property investment, hotel operations and property management.

Ascendas India Trust is a business trust that invests in real estate. The trust acquires, owns, and develops land for business use.

Ho Bee Land Limited develops and invests in real estate properties in Singapore and United Kingdom.  The Company also operates hotels.

First Sponsor Group Limited, an investment holding company, is engaged in the property development and investment activities primarily in the People's Republic of China. Its properties include residential and commercial properties.

Bukit Sembawang Estates Limited, through its subsidiaries, operates in property development, property mortgage financing, and the holding of properties and investments. The Company provides residential property development throughout Singapore.

Wing Tai Holdings Limited is an investment holding company whose subsidiaries invest in and develop properties, manufacture woven labels, and trade garments and architectural products and accessories.  The Company also provides management services and operates restaurants.

Yanlord Land Group Ltd is a real estate development company. The Company develops high-end residential property projects in the Peoples Republic of China.

WHA Corp PCL is a built-to-suit distribution center and factory developer in Thailand.

Sobha Limited provides construction services. The Company offers design and architecture, mechanical, plumbing, interiors, landscape, residential, commercial, and civil construction services. Sobha serves customers in India, Singapore, and United Arab Emirates.

Huafa Industrial Co., Ltd. Zhuhai develops residential and commercial properties. The Company also provides property rental services.

Huafa Industrial Co., Ltd. Zhuhai (600325 CH)

Kerry Properties Limited, through its subsidiaries, invests in and develops real estate.  The Company also owns and operates logistics, freight and warehouses business.  In addition, Kerry Properties invests in infrastructure-related projects and operates hotels.

Chengdu Hi-tech Development Co., Ltd. develops and sells real estate properties.  The Company also designs and produces kitchen cabinets, produces pharmaceuticals, and develops taxation software.

Chengdu Hi Tech Development Co Ltd. (000628 CH)

Greentown China Holdings Ltd. develops real estate.  The Company builds residential villas, low-rise apartment buildings, and high-rise apartment buildings for middle and high-income people.

Farglory Land Development Co., Ltd. develops and sells residential and commercial buildings which are constructed by independent contractors.

I-Sunny Construction & Development Co., Ltd. develops and sells real estate properties.

Isunny Construction&Development (2540 TT)

China Enterprise Co., Ltd. develops residential buildings and provides property rental and management services.  Through its subsidiaries, the Company also trades building materials and operates restaurants.

Greenland Holdings Corp., Ltd. provides real estate sales, exchange, rental, evaluation, consulting, maintenance, green projects, and energy services.

Frasers Property Limited provides real estate ownership and development services. The Company engages in the development of land, housing projects, apartments, as well as commercial, industrial, and retail properties. Frasers Property serves customers globally.

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Frasers Property Ltd (FPL SP)

Takeaways from FCL's Germany Logistics Portfolio Acquisition and Thoughts on S-REIT Implications

Towards the end of 2017, there are acquisitions signed notably i) Frasers Centrepoint Ltd (FCL SP)'s acquisition of a portfolio of 6 logistics...

Will Tan

When Actions Speak Louder Than Words – UOL and UIC's Optimism on Singapore Residential

Singapore construction company – Lian Beng Group Ltd (LBG SP) announced that it was awarded a contract worth S$136.8 mil to construct a...

Royston Foo

S-REIT Weekly: What Transpired in the S-REIT Scene - MIT Ventures into US Data Centres

This is a weekly summary covering the week of 23 Oct 2017 on news flow reported in the media and updates on the Singapore REIT (S-REIT) sector,...

Will Tan

Pure-Play Real Estate Broker APAC Realty Debuts on SGX

Singapore Exchange Ltd (SGX)

Steep DC Rate Hike Another Datapoint Vindicating Residential Price Recovery in Play

The Singapore government has just recently raised the development charge (DC) rates for several land use groups, with the most significant...

Will Tan

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)