Latest news with #CapitaLandAscendasRealEstateInvestmentTrust
Straits Times
28-05-2025
- Business
- Straits Times
CapitaLand Ascendas Reit to buy Tai Seng data centre, Science Park building for $700 million
SINGAPORE - CapitaLand Ascendas Real Estate Investment Trust (Clar) has entered conditional agreements to acquire two prime properties to expand its portfolio in Singapore, particularly in the technology sector, the manager said on May 28. The two properties are a Tier III colocation data centre at 9 Tai Seng Drive and a premium business space property at 5 Science Park Drive. With a purchase consideration of around $700.2 million, the proposed acquisitions will raise the value of Clar's Singapore portfolio by 6.6 per cent to around $11.7 billion. The Singapore portfolio will account for 67 per cent of its total assets under management (AUM) of $17.6 billion. William Tay, executive director and chief executive officer of the manager, said that the properties are leased to reputable and well-established end users and tenants in the digital, e-commerce and financial services industries, to steer Clar's portfolio towards the technology sector. 'This aligns with Clar's strategy to leverage on global growth trends in technological advancement and digital transformation, while diversifying and strengthening its customer base,' he noted. The proposed acquisition of the data centre will raise Clar's data centre AUM by 32.8 per cent to around $1.9 billion – of which 54 per cent or $1 billion will be in Singapore, while 46 per cent or $900 million will be in the UK and Europe. The property is located in the Tai Seng Industrial Estate. The manager noted that it was a strategic location for cloud service providers, enterprises and data centre players given its power availability and dense concentration of networks and direct connections to leading network service providers. Two of Clar's data centre properties, Kim Chuan Telecommunications Complex and 38A Kim Chuan Road, are located there as well. Meanwhile, the proposed acquisition of the business space at Science Park Drive will strengthen Clar's market leadership in the Singapore Business Space and Life Sciences segment, the manager added. The deal will increase the segment's total AUM in Singapore by 4.8 per cent to around $5.7 billion. The manager noted that 5 Science Park Drive is part of the 'Geneo' life sciences and innovation cluster in Singapore Science Park 1 – a key technology and research and development hub – adding that the proposed acquisition solidifies Clar's footprint in the cluster. The trust owns a 34 per cent stake in another property situated within Singapore Science Park 1, the recently redeveloped 1 Science Park Drive. The acquisitions will be partly funded by a proposed private placement of new units, with an issue price range of between $2.465 and $2.515 apiece, which aims to raise gross proceeds of at least $500 million. The manager called for a trading halt on before trading began on May 28. The counter closed up 0.4 per cent at $2.61 on May 27. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
16-05-2025
- Business
- Straits Times
Singapore shares climb on May 16; STI gains 0.2%
Gainers trounced losers 307 to 203 across the broader market on trade of one billion securities worth $1.1 billion. ST PHOTO: BRIAN TEO SINGAPORE – Investors here latched on to optimistic news from two fronts to help send local stocks a touch higher on May 16. One boost came from announcements that the Monetary Authority of Singapore and Singapore Exchange Regulation are seeking feedback on proposed changes to the Singapore bourse that might inject more spark into the market. Wall Street helped as well, with the S&P 500 rising 0.4 per cent overnight for the fourth straight day on the back of investors increasingly hopeful that tariff tensions will ease following the US and China agreeing to a 90-day truce in their trade war. The Dow Jones Industrial Average added 0.6 per cent but the tech-heavy Nasdaq Composite dipped 0.2 per cent. It was all enough for local investors to get behind the bourse and nudge the Straits Times Index (STI) up 0.2 per cent or 5.93 points to 3,897.87. Gainers trounced losers 307 to 203 across the broader market on trade of one billion securities worth $1.1 billion. The STI's biggest winner was CapitaLand Ascendas Real Estate Investment Trust, which added 1.5 per cent to $2.63, while conglomerate Jardine Matheson led the losers, falling 1.5 per cent to US$46.74. STI constituent Singtel gained 1.3 per cent to $3.80 after the group announced it had sold a 1.2 per cent stake in India's Bharti Airtel for $2 billion. The local banks were mixed. DBS, which traded ex-dividend, fell 1.1 per cent to $44.60, UOB edged up per cent to $35.50 while OCBC gained 0.5 per cent to $16.32. Regional indexes were also mixed. Hong Kong's Hang Seng fell 0.5 per cent, South Korea's Kospi rose 0.2 per cent, Malaysian shares slid 0.1 per cent and Japan's Nikkei 225 closed flat. The ASX 200 in Australia had another strong week and signed off with a gain of 0.6 per cent, its eighth positive session in a row, ahead of an expected interest rate cut next week. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
