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Stocks In Focus SG (CDL Hospitality Trust, Goodland Group, GLP) – 02/12/14
CDL Hospitality Trust is foraying into Japan by acquiring two hotels at six billion yen, approximately $66.3 million. Both hotels operate in the business economy segment, and the purchase consideration is lower than the average valuation of the properties by DTZ Debenham Tie Leung Kodo Kaisha and International Appraisals Incorporated of 6.06 billion yen.
Goodland Group reported full year net profit of $21.1 million, up some 24 percent, despite the 32 percent fall in revenue to some $25.3 million. The net profit boost was primarily due to a $12.9 million gain from the revaluing of investment properties and a $8.2 million fair value gain on derivative assets.
Global Logistic Properties clarifies that it has not entered into any binding agreement to acquire IndCor, an industrial property company worth US$8.1 billion ($10.58 billion), from Blackstone Group. The logistic facilities giant also stated that as part of their ongoing efforts to strengthen its strategic position and financial performance, it will continually review various initiatives and explore various investment opportunities.
Jaya Holdings in its recent efforts of disposing it entire issued and paid up share capital to Mermaid Marine Asia, has received a claim of the cap amount of $15, 625, 000 from its Purchaser in connection to a breach of warranties under the sales and procurement agreement. The company is seeking further information from its Purchaser on the claims to assess its impact with its advisers and to take appropriate steps in response to the Claim Notice.
Perennial China Retail Trust’s trustee-mananger Perennial China Retail Trust Management announced that it has commenced a consent solicitation process in relation to the outstanding $130.0 million 6.375 per cent fixed rate notes due 2015 and $50.0 million 5.25 per cent fixed rate notes due 2016. The trust seeks its noteholders’ consent for the Proposal as such consequential changes will affect actions and modifications referred to in the Extraordinary Resolution.
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