Stocks In Focus SG (Viva Industrial Trust, Debao Property, Kingsmen Creatives) – 12/09/14

Debao Property Development has won the tender for two plots of land located in Foshan, China, together with two unrelated third parties. The land plots measure 119,808 square metres (sqm) and 15,534 sqm respectively, and come with a tenure of 70 years for residential properties and 40 years for commercial properties. The total amount paid for the acquisition is Rmb935 million.

Kingsmen Creatives proposed the acquisition of a freehold property in Johor, Malaysia for RM35 million. Currently, the company is leasing the premise for its operations, and views that the acquisition will allow it to continue its operations and better manage its expansion plans in Johor. The property comprises a land plot and built-in area measuring 37,104 sqm and 14,690 sqm respectively.

Viva Industrial Trust entered into option agreements to acquire two properties and their mechanical and electrical equipment located at 11 Lorong 3 Toa Payoh and 29 Tai Seng Street for an aggregate price of $111.5 million. Should the company exercise the options and acquire the properties, the acquisition would have increased distributable income by 16.5 percent to $7.5 million and the net asset value of the trust from $0.75 to $0.76 on a pro forma basis from 4 November to 31 December 2013. In addition, the deal will be financed by both debt and equity via a rights issue.

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