Singapore stock briefs Wednesday: CapitaLand, IREIT Global, Prime US REIT, ARA LOGOS Trust

Top of the CapitaLand building in Singapore’s central business district (CBD); taken September 2018.Top of the CapitaLand building in Singapore’s central business district (CBD); taken September 2018.

These are stock news briefs for Wednesday, 21 July 2020: CapitaLand, Prime US REIT, IREIT Global and ARA LOGOS Trust.


CapitaLand’s hospitality unit The Ascott has secured contracts for more than 8,300 units across more than 30 properties so far this year, marking a 40 percent on-year increase and an around 20 percent compound annual growth rate since 2017, the company said in a filing to SGX Wednesday.

At S$20 million to S$25 million in fees for every 10,000 stabilized service residence units, fee income is expected to increase, the filing said.

The increase was driven by record signings in Vietnam, with a contract to manage the country’s largest serviced residence development with over 1,900 units, Ascott said.

Read the statement.

IREIT Global

IREIT Global said Wednesday 201.14 million units would be issued in its preferential offering at S$0.595 each, bringing its total number of units to around 1.15 billion. The units were listed Wednesday, the REIT said in a filing to SGX.

Read more: IREIT Global plans to raise S$126.7M in new equity offering


Prime US REIT said Wednesday it has completed the acquisition of One Town Center, located in Florida. In addition, US$78.1 million of the US$80 million the REIT raised in a private placement was used to partially fund the acquisition and related costs, the REIT said in a filing to SGX.

Read more: Prime US REIT to acquire 2 US office properties for around US$246M

ARA LOGOS Logistics Trust

ARA LOGOS Logistics Trust entered into a S$80 million sustainability-linked interest rate swap (IRS) with HSBC’s Singapore branch to hedge the trust’s interest rate risk on its borrowings, the industrial REIT said Wednesday in a filing to SGX.

The IRS’ terms are linked to two specific green targets: progressive reduction of the carbon intensity of the trust’s multi-tenanted buildings in Singapore and reaching targets for increased usage annually of renewable energy, the industrial REIT said.

Read the statement.