7 stories mentioning SGX:TS0UUpdated 2d ago
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OUE REIT (SGX:TS0U) and Healthway Medical agreed on a three-year lease deal in Singapore, according to a Tuesday bourse filing.Healthway Medical last renewed its lease in OUE Downtown 2 in 2023 and the extension commences Aug. 1, 2026, for a total of SG$2.5 million.
OUE REIT's (SGX:TS0U) distribution per unit or DPU, jumped 29% during the first half of the year to SG$0.0126 from SG$0.0098 a year earlier, according to an after-market filing with the Singapore Exchange on Wednesday.Amount available for distribution rose by 29% to SG$69.8 million from SG$54.3 million in the prior period.Net property income came in at SG$110.3 million compared with SG$105.3 million in the year-ago period.Revenue was up 3.8% year over year to SG$136.1 million from SG$131.1 million.
OUE Real Estate Investment Trust's (SGX:TS0U) sale of its Crowne Plaza Changi Airport hotel will temporarily boost its financial flexibility, S&P Global Ratings said in a recent release.The REIT's debt-to-EBITDA ratio will improve to 9.5x to 9.7x from 2026 to 2027, compared with S&P's estimate of 10.8x to 10.9x before the divestment.S&P also expects the ratio of gross borrowings to total deposited property value to drop to about 36.6% from 41.5%, with the REIT looking to retain the ratio at about 40%.The REIT will further manage its portfolio over the next 12 to 18 months, S&P said.The downscaling has not impacted the REIT's sound portfolio quality, especially since the hotel could need notable maintenance capex and the hospitality segment shows greater volatility than the office segment, S&P said.
Real estate and healthcare firm OUE (SGX:LJ3) and finance services provider Tokyo Century (TYO:8439) established a joint venture to acquire the Crowne Plaza Changi Airport from OUE Real Estate Investment Trust (SGX:TS0U) for SG$500 million, Tokyo Century said in a Wednesday release.Crowne Plaza Changi Airport is a 575-room hotel managed by IHG Hotels & Resorts, situated at Singapore Changi Airport's Terminal 3. The property comprises a 332-room main building and a 243-room extension, with direct connectivity to all airport terminals.The deal reflects OUE's and Tokyo Century's confidence in Singapore's tourism and aviation sectors, as well as the long-term growth prospects of Changi Airport, which comprises the planned Terminal 5 expansion, according to the release.Shares of OUE fell nearly 2% in recent trade, while those of OUE Real Estate Investment Trust added over 1%. In Tokyo, shares of Tokyo Century edged up nearly 1%.
OUE REIT (SGX:TS0U) has fully redeemed and canceled SG$150 million worth of 3.95% bonds upon maturity on June 2, according to a same-day filing with the Singapore Exchange.The bonds were initially issued under the REIT's SG$2 billion multicurrency debt issuance program.
One Raffles Place is drawing interest from several companies, including CapitaLand Investment (SGX:9CI) and IOI Properties (KLSE:IOIPG), and tycoons, Raj Kumar and Kishin RK, Bloomberg News reported Tuesday.The office complex is being marketed for more than SG$2.3 billion and comprises two office towers and a retail mall, spanning an area of 65,309 square meters, the report said.One Raffles Place is jointly owned by OUE REIT (SGX:TS0U) and United Overseas Bank (SGX:U11), the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
OUE REIT's (SGX:TS0U) net property income rose by 8.4% in the first quarter to SG$57.6 million from SG$53.2 million a year earlier, according to a Tuesday filing with the Singapore Exchange.Revenue was up 6.7% year over year to SG$70.5 million from SG$66.0 million, backed by a higher occupancy rate across its Singapore and Sydney commercial portfolios.
