MOHURD/PBOC to release financing rules for key devrs.
Zhang Bo, rsch lead of Anjuke: 1) supervision of RE financial sector
will be further strengthened in 2H; 2) some top devrs saw high debt lvls
& high financing interest rates mainly due to the rapid devt of co
itself & insufficient financing transparency. (Sina)
Per Centaline, @ Aug 20, the scale of issuance of credit bonds in
property industry reached Rmb26.1bn; YTD devrs issued 811 bonds, w/
total financing amt Rmb624.2b.
China LPR unchngd @ 3.85%.
CapitaLand pledges Rmb1m to support Chongqing
flood relief. Raffles City Chongqing unaffected, but 2 props under its lodging arm The Ascott were affected. (Edge Prop)
Invsmt’s unit wins plot in Guangzhou’s Nansha district in record Rmb4b (US$578m). (SCMP)
Greenland acq’d 7 sites in Wuhan for Rmb16.4b
(US$2.4b) to build world’s largest indoor exhibition. (Paper)
R&F reportedly to dispose Rmb12b ($1.7b) prop assets
(IP + resi proj) this yr to lower debt. (Guandian)
Poly Devts 1H NI Rmb10.12b, 1.69%YoY;
rev Rmb73.68b, ↑3.59% YoY. EPS Rmb85cts. (Co)
EPS Rmb5cts vs 60cts YoY. (Co)
Sth City co-founder Leung Moon-lam sold top 3 storeys of K83 office twr in Kwai Chung to unknown buyer for HK$183m ($24m),
↓HK$72m had paid in 2018. (Mingtiandi)
new homes sold over w/e, ↑800%WoW.
166 from Empire/HK Ferry’s Seacoast Royale. (HKET)
new homes sold y’day. SHKP sold a special unit in ST Barths for HK$29.3m, or HK$25,300/ft2. (HKET)
duplex unit (2,846ft2) in Dukes Place, Jardines Lookout sold for HK$200m. Total sold 7 units for HK$1.38b YTD. (HKET)
Devt sold a unit (1,077ft2) in Fleur Pavilia, North Point for HK$48.35m. (HKEJ)
NWS to sell its public bus routes to
a group of investors for HK$3.2b. (SCMP)
JL Family Office buys 65 Club St 999yr conservation
shophouse for S$15.7m. (BT)
Eagle Hospitality Trust’s sponsor Urban Commons
says EHT’s advisors misled REIT.
Urban Commons to focus on: 1) Quickly refinance the defaulted debt; 2)
Raise min amt to sustain EHT & minimise dilutions to holders;
3) Create an amicable solution to restart & sustain the operations.
New Zealand retail sales
↓15%YoY in 2Q20 due to COVID-19 lockdown. (NZ Herald)
Fitch affirms Mirvac at 'A-';
outlook stable. (Fitch Ratings)
Centuria completes retail entitlement offer,
raising ~A$104m. (Co)
Scentre 1H FFO A$361.9m,
A$0.0696 vs A$0.1264 YoY. 1H net loss A$3.61b vs profit A$740m YoY. 1H rev A$1.09b,
Interim Distrn for 1H. (Co)
Stockland FY final DPS A$0.106,
ROE +11.5%, FFO A$825m, won't give FY21 FFO & distrn guidance. (Co)
dept store sales ↓20.3%YoY
in July. (Mainichi)
BOJ injects Y1.2b via J-REITs buying & Y1.2b
via ETFs facility. (Newswk)
Nomura Secs’ stake in 1 REIT
↓to 9.80% from 10.86%. (Kabutan)
Mitsubishi Estate Logistics REIT raised Y16.9b
($160m) @ Y431,701/unit to acq new specified assets. (Co)
up Nucleus Office Parks
once buys 16mft2 commercial assets from Prestige. (Mint)
xpct Bank Indonesia to cut base rate by 25bps later this yr. (Jakarta Post)
Phil Congress set to approve a relief bill worth up to Php165.5b ($3.4b),
far below est’d Php1.56trn recovery plan suggested by lawmaker needed to revive the economy. (BBG)
Megaworld evaluating if pay cash div this yr along w/ stock buyback. (BBG)
SM Prime reportedly hires banks for $500m-$1b REIT IPO nxt yr.
AREIT declares total Php0.59/sh div.
* My pa holdings: BAC US, 1 HK, 6 HK, ST SP, TEAM US, GOOGL US, AMZN US