Meda Inc to acquire BCM for $47.9m, has two land parcels for development

By
Posted

Meda Inc Bhd has proposed to acquire a private company, thereby owning two parcels of contiguous freehold land in Kuala Lumpur that measure a collective 4.18 acres, for MYR180 million ($47.85 million). Meda said it has entered into a conditional share sale agreement with BCM Holdings Sdn Bhd to acquire… Read more »

Frasers Hospitality REIT raises S$123m from placement of stapled securities

By

Singapore-listed Frasers Hospitality REIT announced that it had completed a private placement of 150 million new stapled securities to raise S$123.0 million, to part finance the acquisition of Sofitel Sydney Wentworth. The private placement was priced at the top end of the price range at S$0.820 per stapled security, the… Read more »


Vingroup chosen to develop Ho Chi Minh City’s critical sea tourism project

By

Vietnam’s largest property developer Vingroup, has been entitled to be the strategic partner of Ho Chi Minh City in implementing the Can Gio sea tourism complex development, or Saigon SunBay, said the local media quoting sources from the city’s people’s committee. Can Gio is a unique sea district in Ho… Read more »


Ascott Reit to acquire 7 assets in Australia and Japan for S$298.3m

By

Singapore-listed Ascott Residence Trust (Ascott Reit) Thursday announced that it had acquired three quality serviced residences and four rental housing properties in Australia and Japan for S$298.3 million at an EBITDA yield of 5.1%. These accretive acquisitions are expected to increase Ascott Reit’s distribution income for FY 2014 by S$3.9… Read more »


Ascott REIT raises $186m via perpetual securities, to fund potential acquisitions

By

Singapore-based Ascott Residence Trust (Ascott Reit), an indirect unit of Capital Land Limited, has successfully raised S$250 million ($186.2 million) from the issuance of perpetual securities, which received strong investor participation with a four-time oversubscription. The proceeds from the securities, whose distribution rate is fixed at 4.68 per cent per… Read more »


HAGL Myanmar in commercial mode

By

Vietnamese property developer Hoang Anh Gia Lai Group, which has expanded operations to several neighbouring countries – like Myanmar, Laos and Cambodia-  has officially put into use the HAGL Myanmar Centre, on Tuesday. The $550 million asset has been invested in under the build – operate – transfer (BOT) model with a… Read more »


Century Properties forays into hotel development in PH, partners AccorHotels

By

Philippine real estate firm Century Properties Group Inc has started its first hotel development business in partnership with hotel group AccorHotels for the management of the first Novotel Suites Manila. Century Properties informed the stock exchange on Tuesday that it entered the partnership through its subsidiary Century Limitless Corporation (CLC). Century Properties… Read more »


Vietnam Property Holding exits Century 21 over delisting dispute

By

Vietnam Property Holding (VPH), the real estate fund of Saigon Asset Management Company, has registered to sell its entire holding of 2.2 million shares in Vietnam-based realty firm Century 21 JSC, following disputes over the de-listing plan of the company, according to the Ho Chi Minh City Stock Exchange. The… Read more »


Capitaland acquires shopping mall in Japan for S$33.2m

By

Singapore listed Capitaland Limited said that its wholly owned trust vehicle – CMA Japan Trust – would buyout Vivit Minami Funabashi for a total cash consideration of JPY3.05 billion ($33.2 million). Vivit is a shopping mall located in Funabashi city in Chiba Prefecture, in Greater Tokyo, Japan. Vivit is part… Read more »


Thailand’s Grande Asset plans to acquire 4-star hotel peroperties this year

By

Grande Asset Hotels and Property PCL (GRAND), Thailand-listed hotel and property developer, is negotiating to acquire at least one four-star hotel in either in Bangkok or in one of the seaside cities, this year. The company’s chief executive officer Noppadol Mingchinda said that the company was in talks with some hotel owners in Bangkok, Phuket, Pattaya and… Read more »