divestments

The manager says the proposed divestment is in line with its strategy to rejuvenate MLT’s portfolio through selective divestments.

The acquisitions will boost MLT’s portfolio rejuvenation towards a “resilient and future-ready portfolio”, says the REIT manager.

Completion of the divestment is expected to take place by the first half of 2023.

The total sale price is said to be 6.1% above the latest aggregate valuation of 47.3 million ringgit as at Oct 1, 2022.

The divestments bring the total gross value of the divestments made by CapitaLand and its REITs to $3.02 billion.

The impairment losses include $64 million loss from the group’s divestment of its water business in Chile, a $158 million impairment of UK Power Reserve (UKPR) assets, as well as a $23 million impairment in China.

SINGAPORE (July 24): RHB, Religare and OCBC have issued reports with differing views on Cache Logistics Trust after its manager last Friday reported a 9.5% fall in 2Q distribution per unit (DPU) to 1.8 cent, which is in line with all three research houses

SINGAPORE (July 11): Singapore state investment company Temasek has announced that its net portfolio value for the year ended March rose 14% to $275 billion.

SINGAPORE (June 22): Maybank Kim Eng Research remains “positive” on Singapore REITs (S-REITs), with confidence that a firmer exchange rate regime poses no immediate threat to the industrial REITs.

SINGAPORE (April 10): Southeast Asian corporates are warming up to divestments as close to a quarter (24%) of those surveyed plan to divest within the next two years, up from 15% in 2014, says the EY Global Corporate Divestment Study 2017.