Australia's Consumer Sentiment Edges Up Despite RBA Rate Shock
Sentiment advanced by 0.6% to 93.1 points, a Westpac Banking Corp. survey showed Tuesday, meaning pessimists persist in outweighing optimists with a dividing line of 100.
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2 hours ago
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3 Attractive Singapore Stocks Unlocking Value for Their Shareholders
Companies may periodically undertake corporate actions that help to enhance value for their shareholders. These actions may include mergers and acquisitions, divestments, or initiatives that help to unlock value and grow the business further. Investors need to assess if these actions will result in a sustained improvement in the company's fundamentals. We would like to bring to your attention three companies that have recently undertaken corporate actions to unlock value for their shareholders. Frasers Logistics & Commercial Trust (SGX: BUOU) Frasers Logistics & Commercial Trust, or FLCT, is an industrial and commercial REIT with a portfolio of 114 properties worth around S$6.8 billion. These properties are diversified across Singapore, Australia, the UK, Germany, and the Netherlands. Earlier this month, FLCT announced the divestment of 357 Collins Street in Australia for A$195.3 million. The consideration payable by the buyer after netting off fees and liabilities is around A$192.1 million, just a tad higher than the property's independent valuation of A$191 million. The rationale for this disposal is for the REIT to enhance its portfolio focus on logistics and industrial properties by making a strategic exit from the Melbourne CBD office market. 357 Collins Street saw its valuation remain at $191 million over the past year, reflecting challenging conditions in the Melbourne market. Melbourne's CBD office market is reeling from the impact of remote work, with an elevated occupancy level of 18% in the city. Post-divestment, FLCT's logistics & industrial weight will increase from the current 72.4% to 74.2%. Portfolio occupancy will also rise from 93.9% to 95.2%, and the REIT's weighted average lease expiry (WALE) will inch up from 4.6 years to 4.8 years. Assuming the proceeds are used to reduce debt, FLCT's gearing level will decline from 36.1% as of 31 March 2025 to 34.6%. The divestment proceeds will enhance the REIT's flexibility to pursue opportunities in the logistics and industrial space. Completion is expected to take place by 30 September 2025. Centurion Corporation (SGX: OU8) Centurion is a provider of purpose-built worker accommodation (PBWA) assets in Singapore, Malaysia, and China, and also purpose-built student accommodation (PBSA) assets in the UK, Australia, the US, and China. The group owns and manages a portfolio of 37 operational assets totalling 69,929 beds as of 31 March 2025. The dormitory operator recently announced its intention to list a REIT named Centurion Accommodation REIT on the mainboard of Singapore Exchange. This REIT will have an initial portfolio of 15 assets totalling 27,602 beds with an agreed property value of around S$2.1 billion. By undertaking this value-unlocking exercise, management anticipates a considerable decline in its net leverage ratio. With debt set to decrease, Centurion will have additional debt headroom for further growth. Meanwhile, the group also unveiled a new premium student housing brand called EPIISOD. The first EPIISOD property is under development in Macquarie Park in Australia with a capacity of more than 700 beds. This property will be ready by February 2026 and will set a new standard for student living for both domestic and international students. City Developments Limited (SGX: C09) City Developments Limited, or CDL, is a global real estate company with a network spanning 168 locations in 29 countries and regions. The group has developed over 53,000 homes and owns around 23 million square feet of gross floor area in residential, commercial, and hospitality properties. Last month, CDL and IOI Properties Group Berhad (KLSE: 5249) entered into a share sale agreement whereby CDL will divest its 50.1% stake in South Beach Development to IOI. South Beach is valued at S$2.75 billion, which represents a 3% premium over its latest valuation of S$2.67 billion as of 31 December 2024. Based on CDL's 50.1% proportionate stake, the estimated sale consideration is S$834.2 million. Both CDL and IOI were long-term joint venture partners in the South Beach project since 2011. This transaction should be completed by the third quarter of 2025, and IOI will gain full ownership of South Beach's commercial components. CDL's move will help it to realise value from this property and is part of the blue-chip group's efforts to accelerate capital recycling, reduce gearing, and redeploy capital. Management is looking to unlock value across its diversified portfolio to pursue more growth opportunities. As the STI hits record highs, long-term investors are asking: can dividends keep up? In this special National Day webinar, we dive into the earnings outlook for Singapore's top dividend stocks and what to expect in the months ahead. Secure your free seat here and stay ahead of the curve. This new 10-minute read could change how you invest this year. Inside: 5 SG dividend-paying blue chips that have quietly powered through past downturns, and could reward you handsomely in the next. Grab the free report now. It might be the most profitable thing you read today. Disclosure: Royston Yang owns shares of Frasers Logistics & Commercial Trust. The post 3 Attractive Singapore Stocks Unlocking Value for Their Shareholders appeared first on The Smart Investor. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 hours ago
- Yahoo
Rare 50 cent coin sells for $3,050 due to ‘unique' reason
An extremely rare 50 cent coin has sold for more than $3,000 at auction due to a mistake that happened during the minting process. If you spot an error on one of your coins, it could be worth more than its face value to collectors because of its rarity. The 2002 50 cent coin was mistakenly struck on a Samoan Tala coin, which is seven-sided and made out of nickel brass. The coin is thought to be totally 'unique', with no other examples of the error coin seen before. Roxbury's director Scott Waterman, who auctioned off the coin, told Yahoo Finance there was 'nothing similar' to the coin. RELATED Rare 5 cent coin worth 25,000 times its value due to 'double headed' detail Terrifying superannuation reality facing 4.3 million Australians hoping for comfortable retirement Major warning after Aussie receives random $350 payment in her bank account 'It's a different alloy as well, which makes it quite eye-catching. It's very, very unusual that one, unique as I understand it. So anything that is unique is literally there's one of it,' he said. The coin ended up selling at auction for $3,050, after being found in circulation. Waterman said the error was 'pretty crazy' and very 'unusual'. 'The Royal Australian Mint strikes a lot of other countries in the region, their coins as well. So very, very occasionally one will cross over and I think that's what's happened here,' he said. Waterman said error coins were a rare occurrence since decimal currency was introduced by Australia in February 1966, but they still exist. 'Relatively speaking, they're exceptionally rare in Australia compared to other countries and they're very well supported. We see really high prices for good error coins in Australia relative to other countries,' he said. Other coins struck on the wrong die have also fetched more than their face value. A 2000 $1 coin with its obverse struck with a 10 cent die sold at auction for $1,150 in uncirculated condition. This is known as a 'mule coin' where the coin is struck with mismatched dies on the heads and tails. Another of the $1 coins with the heads side struck on a 10 cent die fetched $375 at auction in circulated in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
4 hours ago
- Yahoo
4-year-old's $1 million property gift revealed in growing inheritance trend
A Sydney couple have revealed why they decided to buy their four-year-old daughter a $1 million property rather than wait decades to give her an inheritance down the track. While it's a unique example, property experts say more parents are helping their kids get onto the property ladder as prices continue to skyrocket. Northern Beaches couple Mark and Alana recently bought a one-bedroom apartment for their young daughter, Willoughby. The couple, who both work in sales for cybersecurity firms, said they wanted to create a sort of 'insurance' policy for their daughter and try to set her up for the future now. 'I wanted to try and do something now so that no matter what happens to me, there will be something for my daughter one day,' Mark told Yahoo warning ahead of $5.4 trillion transfer as 'avoidable' money 'traps' exposed Major warning after Aussie receives random $350 payment in her bank account Terrifying superannuation reality facing 4.3 million Australians hoping for comfortable retirement 'Think of it like buying insurance. You buy life insurance and all these other kinds of insurance. This is like buying insurance for my daughter's future. 'I know that this thing's going to be rented and paid for one day and so that security is what we needed for our daughter.' The home is in the new Willoughby Grounds development, which is set to be completed in August. The couple previously lived in Willoughby, with their daughter named after the lower North Shore suburb, so they took the apartment as a said he didn't grow up with a lot of money himself, and his parents did not help him buy his first property and would not give him an inheritance when they passed. The 45-year-old said this will be the main inheritance they pass down to their daughter. He said he would prefer to give her a financial leg when she needs it rather than waiting. 'I hate the word inheritance. Waiting for someone to die is the old way of thinking,' he said. 'Let's say I live until 80. What will my daughter want to do with money when she's already made her own life and everything? 'A lot of people might disagree, but I think [you should be] giving people the help when they need it, versus one rainy day when you pass away.' Parents helping kids onto property market The couple is an example of a growing trend of parents who are stepping in to help their kids enter a surging property market. Mozo research found parents were gifting $74,040 on average to their kids to help with home loan deposits. Three in four parents who help their kids don't expect to be repaid. Australian Seniors research, meanwhile, found seven out of 10 parents over 50 intended to leave their children an early inheritance to help them get ahead. Ray White Lower North Shore director Tim Abbott told Yahoo Finance while it wasn't the norm for parents to fully buy their young kids a property, many parents were helping their kids get a head start by contributing to their deposits. 'If people are lucky enough that their families can assist them in getting into the property ladder, it's certainly a benefit,' he said. 'The cost of construction and the cost of property just keeps going up, so if they can secure something and they've got the ability to secure something and get into the market, then it's going to pay off for them financially over the long term.' Abbott said some parents were keen to help their kids get into the market now, before things get more expensive. '[They want to] overcome a bit of that escalation in price, or just lock something in today's market with further growth getting more unaffordable as time goes on for the younger ones,' he said. Couple keen to create security for daughter now Mark said the couple planned to rent out the property until Willoughby is older, with the apartment estimated to bring in $850 a week in rent. She can then use the apartment as she sees fit, whether she wants to live in it, or sell it and use it to pay for university, a car or her first home deposit. While the couple realised they are lucky to be in a position where they can buy a property for their daughter, the 45-year-old said it wasn't easy. 'My wife and I have to find an extra $2,500 a month between us to cover the difference of the mortgage and rent. That's not easy for any family,' Mark said. 'But it's easier to us to make that sacrifice now, than it is in 16 years from now. Now's the time we can actually do things in our life to make more money versus then.' While their daughter will no doubt be extremely thankful for her parents' decision in the future, for now, Mark said she has a typical four-year-old reaction to the news. 'We talked to her about these things, but does she remember it? Sometimes she just gets confused about what happened at daycare the day before," he said. "But her reaction is good, and then it fades very quickly."Sign in to access your portfolio
