Latest news with #Mapletree
Business Times
3 days ago
- Business
- Business Times
Temasek's Mapletree Investments returns to profit, hits record AUM of S$80.3 billion in FY2025
[SINGAPORE] Temasek's Mapletree Investments reversed a loss from the previous year to turn a profit of S$227.2 million for the full-year ended Mar 31, on the back of narrowed overall revaluation losses. This was while its assets under management (AUM) hit a record S$80.3 billion, 3.6 per cent higher than S$77.5 billion reported in the same period the year before, the company said in a statement on Tuesday (Jun 3). Revenue for the period was S$2.2 billion, lower than the year before due to the deconsolidation of Mapletree Logistics Trust (MLT), one of three Singapore-listed real estate investment trusts managed by the group. Excluding the impact of the deconsolidation, the group's revenue was 1.2 per cent higher than in the previous financial year. Recurring profit after tax and minority interests was S$637.4 million for the full year. Separately, the company recorded total net proceeds of S$897 million from divestment of non-core assets, other divestments to MLT and the syndication of Mapletree Japan Investment Country Private Trust. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up The group's projects under development increased to S$5.5 billion, from S$3.7 billion previously. Hiew Yoon Khong, group chief executive officer, said the company had deepened its focus on its core sectors for this FY. These include logistics, student housing, office and data centres. This was done through prioritising operational performance, investing selectively in specific markets with growth potential, and embarking on more development projects for higher returns, he added. 'These strategic priorities underpinned Mapletree's resilient FY24/25 performance, and will continue to guide the group in fostering sustainable growth.' Logistics and accommodation Mapletree Investments manages three Singapore-listed real estate investment trusts and nine private equity real estate funds. In logistics, the group continued to acquire quality logistics assets and embarked on new logistics development initiatives across the Asia-Pacific. In Europe, it entered the United Kingdom logistics market by acquiring Derby DC1 and Verda Park. It also deepened its presence in Spain by acquiring a portfolio of 10 logistics assets. As at Mar 31, 2025, the group's logistics portfolio in Europe and the UK stood at S$2.2 billion. The group is also currently marketing a new logistics development fund, focusing on Malaysia, India and Vietnam, where 'institutional-grade logistics products are undersupplied', it said. The Mapletree Emerging Growth Asia Logistics Development Fund (Mega), will comprise development assets with a total AUM of US$1.8 billion, and is targeted to close this year. In student housing, the group completed a £1 billion (S$1.7 billion) acquisition of a portfolio of 31 UK and Germany student housing assets. This move sent Mapletree to fourth position among the largest student-housing owners in the UK as at Mar 31, from seventh place. Offices and data centres As for the office sector, Mapletree continued to pour investments into the India and Vietnam markets to ride the demand for quality offices. In India, the group acquired a land parcel in Bengaluru for a greenfield office-development project called Global Business City in FY24/25. When completed, it will house office spaces with a net lettable area of 743,224 square metres (sq m) on a plot 153,780 sq m in size. Over in Vietnam, Mapletree acquired a land parcel in Hanoi to develop a 92,000 sq m, Grade-A mixed-use office project with retail amenities. In the data centre sector, Mapletree Industrial Trust acquired a freehold, mixed-use facility in Japan, with a redevelopment opportunity to turn it into a data centre. Meanwhile, the group's first data centre development, in Fanling, Hong Kong, is set to complete in the second half of this year. 'Mapletree will continue to explore new opportunities to expand its data centre footprint in established core markets in Europe, where investor appetite remains strong,' it said. It will also explore emerging markets such as London, Milan and Madrid, which present 'strong potential for returns'. In the Asia-Pacific, the group will focus on mature and high-potential markets such as Japan and Korea. Said Hiew: 'We will continue to prioritise enhancing operational performance for our existing assets, maintaining a selective investment approach in markets with growth potential, creating greater value through development projects ... all the while deepening collaborations with like-minded capital partners on new funds and syndication.'
Yahoo
07-05-2025
- Politics
- Yahoo
PM Wong celebrates DPM Heng's legacy as he retires from politics; Harbourfront Centre escalator steps dislodge after stroller wheels get caught: Singapore live news
PM Wong celebrates DPM Heng's legacy as he retires from politics; Harbourfront Centre escalator steps dislodge after stroller wheels get caught: Singapore live news Prime Minister Lawrence Wong on Tuesday (6 May) penned a valedictory letter to Deputy Prime Minister Heng Swee Keat, thanking him for his contributions to politics and celebrating his legacy. "Your entire working life – over four decades – has been dedicated to serving Singapore and Singaporeans... In every role, you brought rigour and dedication – mastering every policy detail and working tirelessly to shape a better future for Singapore," wrote PM Wong. Escalator steps at Harbourfront Centre were dislodged on 4 May after a stroller wheel got caught between two steps. A woman and her baby were involved in the incident but both were unharmed. According to a spokesperson for Mapletree, the real estate development company that manages the mall, no injuries were reported from the incident, which had occurred at around 2pm. Read more in our live blog below, including the latest local and international news and updates.
AsiaOne
06-05-2025
- AsiaOne
Woman carrying baby unhurt after escalator steps dislodge at Harbourfront Centre, Singapore News
A woman carrying a baby escaped unscathed after an escalator they were on malfunctioned and several steps became dislodged. The incident occurred at Harbourfront Centre on Sunday (May 4) at about 2pm, according to the mall's management Mapletree. Photos posted on social media showed that the mangled steps at the top of the upward-moving escalator, with metal fragments strewn around the escalator landing. The escalator, located between the second and third floors, was still being repaired when Shin Min visited the site on Monday at around 10.15am. A notice was also put up by the mall's management informing patrons to use lifts or alternate escalators. When interviewed, a shop assistant on the second floor told the Chinese evening daily that she heard a loud noise when the incident happened. "I heard a loud 'boom' and when I looked up, I saw that the top escalator steps were bent out of shape and the escalator had also stopped running," said the woman. She recalled that there was a woman riding the escalator at the time. The woman was carrying a baby who looked to be a few months old with one hand, while she held a pram on the other, said the shop assistant, who did not want to be named. The shop assistant noted that following the incident, the woman appeared too shocked to move, while her husband, who had not yet stepped on the escalator, quickly motioned for her to walk down. "Thankfully the escalator had stopped moving. Everyone breathed a sigh of relief when she safely made her way down," said the woman. In its statement to AsiaOne, a Mapletree spokesperson confirmed that no injuries were reported in the incident. The statement noted that a shopper "had brought a stroller onto the escalator, where one of the wheels became caught between the steps". "In an attempt to forcefully remove the stroller, the steps were subsequently dislodged, resulting in the escalator coming to a halt." According to the statement, the escalators undergo monthly maintenance that are in line with safety and operational standards regulated by the Building and Construction Authority. The spokesperson also reminded shoppers with strollers to exercise precaution and use the lifts located on every floor of the mall. [[nid:714986]] candicecai@
South China Morning Post
25-02-2025
- Business
- South China Morning Post
Singapore's Mapletree wins land tender, adds Tsing Yi logistics site to Hong Kong assets
Hong Kong has awarded Singapore's Mapletree Investments a 50-year land grant to a parcel of land in the New Territories for about HK$3.68 billion (US$473 million), according to the Lands Department on Tuesday. Advertisement Mapletree's unit Titanium 2 was the sole bidder for the 44,318-square-metre (477,000 sq ft) logistics site in Tsing Yi following a tender that closed on Friday. The 'positive market response' to the site, known as Tsing Yi Town Lot 202, 'clearly reflects the trade's continual confidence in Hong Kong's role as an international logistics hub', a spokesman for the Transport and Logistics Bureau said. Three other logistics sites will be released 'in a timely manner, taking into consideration the market situation', he added. Mapletree's real estate portfolio in Hong Kong includes an 11-storey grade-A logistics hub with a gross floor area of 120,550 square metres, also in Tsing Yi, and the Festival Walk shopping centre in Kowloon Tong, which has a gross floor area of 112,297 square metres. Advertisement The parcel can support a maximum gross floor area of 227,836 square metres for a multi-storey logistics facility and a public car park. Wholly owned by Singapore investment firm Temasek Holdings, Mapletree paid HK$1.69 billion in 2013 for its first site in Tsing Yi, which was its first greenfield development in Hong Kong.
