divestments

CDL's 51% stake in a Xintiandi site takes total acquisitions ytd to $2 billion as it seeks to meet its divestment goal of $1 billion

Mapletree REITs outline divestment, recycling plans to bolster portfolios, balance sheets

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.