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Philips Capital Reports March 2013
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PostPosted: Wed Mar 27, 2013 9:50 am    Post subject: Reply with quote

Chuan Hup Holdings Limited said that its subsidiary, Provest Transworld Limited, prematurely terminated its leases at Jalan Samulun. Provest has signed a letter of acceptance of terms and conditions from Jurong Town Corporation for the premature termination. It will pay an administrative fee of S$1,070 for the lease termination of leases, though there is no penalty for such termination. The company said it had terminated the leases because it was unable to secure a new tenant or sell the property. It also has no use for the property, and it would have cost S$742,400 to hold the property until the leases expired. (Closing price: S$0.270, -%)

Eastern Holdings said on Tuesday that it would pump S$9.99 million into Hong Kong-based Schroder Asian Asset Income Fund. The investment in Asian equities and Asian fixed income securities would provide income and capital growth over the medium to longer term, EHL said. "The company currently has dormant funds in its corporate accounts and desires to obtain a more favourable return on the dormant funds," the firm added. (Closing price: S$0.193, -1.026%)

Olam International has opened an almond hulling and processing plant in Victoria, South Australia. The plant, which costs A$60 million (S$78 million), will have a total capacity of 40,000 metric tonnes of almond kernels a year, the firm said in a press release. It will de-hull and shell 14 tonnes of almonds an hour and employ about 19 permanent staff once in full production. The plant will help the agri-commodities trading house meet all the volumes of its upstream orchards, said Olam's Australia executive director and country head, Bob Dall'Alba. The firm is also exploring the option to use almond hulls to create renewable energy, it said. (Closing price: S$1.725, -0.289%)
Source: SGX Masnet, The Business Times
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admin
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PostPosted: Thu Mar 28, 2013 9:26 am    Post subject: Reply with quote

REIT Sector Update (Travis Seah)


Year-to-date, S-REIT continued to beat the broad market (4.6%) by a margin, registering price return of 5.2%
S-REIT yield spread and forward dividend yield remain appealing compared to some developed REIT markets
PLife REIT is our top pick as it would benefit from elevated inflation and possible new acquisitions
Source: Phillip Securities Research Pte Ltd
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