Starhill pretax profit up by 13%
PETALING JAYA: Starhill Real Estate Investment Trust has posted a pretax profit to RM19.3mil for its fourth quarter ended June 30, a 13% increase over the RM17mil in the same period last year.
Revenue for the period was also up at RM26mil compared to last year's RM23.5mil.
Earnings per share and proposed dividend per share meanwhile stood at 1.74 sen and 2.15 sen respectively.
For the financial year ended June 30, the trust made a pre-tax profit of RM72.7mil compared with last year's RM35.9mil.
Revenue was also higher at RM98.8mil compared with RM50.7mil in 2006.
In notes to Bursa Malaysia on Thrusday, Starhill said rental received from newly acquired property and higher rental rates received from the renewal of existing tenancies contributed to the rise in revenue and pre-tax profit.
It also cited the commencement of new tenancies of its existing investment properties as another positive factor.
It said upon consideration of the strength of the real estate portfolio invested, the trust was expected to achieve satisfactory performance for financial year ending June 30, 2008.
Thursday, July 12, 2007
Rabobank sees potential in Northern Corridor Malaysia
RABOBANK International, the world's leading financier in the food and agribusiness sector, wants to be actively involved in the development of Malaysia's Northern Corridor Economic Region.
Rabobank food and agribusiness head of strategic advisory and research for South-East Asia Thomas Lee Bauer said the bank is studying how it can participate in the project.
"There is a huge role that Rabobank can play. The bank fits perfectly into it," he told Business Times in an interview.
Proposed under the Ninth Malaysia Plan (9MP: 2006-2010), the Northern Corridor covers the agricultural areas of Penang, Seberang Prai, North Perak, Kedah and Perlis.
Government-owned Synergy Drive Sdn Bhd has been tasked to accelerate development in the Northern Corridor, which is envisaged to be a hub for food and agricultural products.
He said the strength of the Netherlands-based Rabobank lies in its agribusiness experts worldwide.
The century-old Rabobank has "AAA" credit ratings from Standard & Poor's and "AAA" from Moody's, making it the only privately-owned bank in the world to achieve the status.
Rabobank launched Rabobank Nederland Labuan in Labuan in March 2005, while its marketing office in Kuala Lumpur was opened in December 2005.
In Malaysia, the Dutch farmers' cooperative bank offers basic interest swap, corporate lending, term loans, structured trade finance, foreign exchange, risk management, merger and acquisition, as well as food and agribusiness advisory services.
On whether Rabobank plans to establish a local retail banking , Bauer said: "Rabobank is currently not doing that, but we never know. Never say never."
He said Rabobank is bullish about Malaysia's economy and its agribusiness, which is supported by the right investment climate and the Government's emphasis on agribusiness.
For niche halal sector, for example, Bauer said Rabobank can help players to brand their products so that Malaysian halal products fetch premium prices.
"We can increase the profit margin for halal food producers. There is market for higher-end halal products. The key is to open up the right market," he said, adding that other potential areas include beef and dairy sector.
In the palm oil sector, Bauer said Rabobank would concentrate on value-added products.
"Biodiesel is a big growth area. There is a lot more to be done on external marketing in this area," he said, adding that companies from Europe are looking at feedstock from Malaysia for their biofuel projects.
Rabobank food and agribusiness head of strategic advisory and research for South-East Asia Thomas Lee Bauer said the bank is studying how it can participate in the project.
"There is a huge role that Rabobank can play. The bank fits perfectly into it," he told Business Times in an interview.
Proposed under the Ninth Malaysia Plan (9MP: 2006-2010), the Northern Corridor covers the agricultural areas of Penang, Seberang Prai, North Perak, Kedah and Perlis.
Government-owned Synergy Drive Sdn Bhd has been tasked to accelerate development in the Northern Corridor, which is envisaged to be a hub for food and agricultural products.
He said the strength of the Netherlands-based Rabobank lies in its agribusiness experts worldwide.
The century-old Rabobank has "AAA" credit ratings from Standard & Poor's and "AAA" from Moody's, making it the only privately-owned bank in the world to achieve the status.
Rabobank launched Rabobank Nederland Labuan in Labuan in March 2005, while its marketing office in Kuala Lumpur was opened in December 2005.
In Malaysia, the Dutch farmers' cooperative bank offers basic interest swap, corporate lending, term loans, structured trade finance, foreign exchange, risk management, merger and acquisition, as well as food and agribusiness advisory services.
On whether Rabobank plans to establish a local retail banking , Bauer said: "Rabobank is currently not doing that, but we never know. Never say never."
He said Rabobank is bullish about Malaysia's economy and its agribusiness, which is supported by the right investment climate and the Government's emphasis on agribusiness.
For niche halal sector, for example, Bauer said Rabobank can help players to brand their products so that Malaysian halal products fetch premium prices.
"We can increase the profit margin for halal food producers. There is market for higher-end halal products. The key is to open up the right market," he said, adding that other potential areas include beef and dairy sector.
In the palm oil sector, Bauer said Rabobank would concentrate on value-added products.
"Biodiesel is a big growth area. There is a lot more to be done on external marketing in this area," he said, adding that companies from Europe are looking at feedstock from Malaysia for their biofuel projects.
Mapletree Logistics Trust (MapleLog) is looking to tap on Hong Kong’s recent spate of high growth by adding a property in the SAR
Mapletree Logistics Trust (MapleLog) is looking to tap on Hong Kong’s recent spate of high growth by adding a property in the Special Administrative Region to its portfolio.
It will buy five floors of a 19-storey warehousecum-industrial building - the Tai Sang Shatin Warehouse Centre in Shatin, New Territories, Hong Kong - for HK$66 million (S$12.8 million).
Explaining the rationale for the deal, Chua Tiow Chye, CEO of Mapletree Logistics Trust Management (MLTM), the manager of MapleLog, said: ‘This area is ideally located, being midway between the Chinese border and the Kwai Chung container terminal. This will be our fifth property in the Shatin area, bringing our total warehouse space in this area to approximately 163,000 square metres.
‘With a suite of properties in this vicinity, we have the capacity and flexibility to meet tenants’ various needs. This consolidates our position as a leading logistics real estate solution provider in this area.’
MLTM announced the deal yesterday, saying that MapleLog had - through its wholly owned Cayman Islands special purpose vehicle - inked a conditional sale-and-purchase agreement with Ever Gain Company Ltd to buy the fifth to the ninth floors of the Tai Sang Shatin Warehouse Centre.
Ever Gain will lease back the property for five years.MLTM said the acquisition would be accretive to MapleLog’s distribution per unit (DPU). The pro forma financial effect of the acquisition on the DPU for the financial year ended Dec 31, 2006, will be an additional 0.01 Singapore cent per unit.
MLTM added that it expected to see good demand for logistics real estate in the Shatin area, thanks to strong economic growth in Hong Kong for the last three years.
‘Hong Kong’s close ties with mainland China has benefited the economy in several ways - most importantly, through the re-export of (China) goods,’ MLTM’s statement to the Singapore Exchange (SGX) yesterday said.
‘The rising demand for warehouse space from businesses supporting the China hinterland, coupled with the limited supply of new logistics space in Hong Kong, is expected to sustain positive rental reversions.‘
The recently completed Hong Kong-Shenzhen Western Corridor as well as the Route 8 linking Hong Kong International Airport to Shatin, which is expected to complete in mid-2009, will further enhance the connectivity of the Shatin area,’ the statement added.
MLTM expects the acquisition - which it intends to fund entirely by debt - to be completed by the third quarter of this year.
‘However, this does not preclude the manager from exploring alternative means of funding should the need arise,’ MLTM said.
Source: The Business Times, 11 July 2007
It will buy five floors of a 19-storey warehousecum-industrial building - the Tai Sang Shatin Warehouse Centre in Shatin, New Territories, Hong Kong - for HK$66 million (S$12.8 million).
Explaining the rationale for the deal, Chua Tiow Chye, CEO of Mapletree Logistics Trust Management (MLTM), the manager of MapleLog, said: ‘This area is ideally located, being midway between the Chinese border and the Kwai Chung container terminal. This will be our fifth property in the Shatin area, bringing our total warehouse space in this area to approximately 163,000 square metres.
‘With a suite of properties in this vicinity, we have the capacity and flexibility to meet tenants’ various needs. This consolidates our position as a leading logistics real estate solution provider in this area.’
MLTM announced the deal yesterday, saying that MapleLog had - through its wholly owned Cayman Islands special purpose vehicle - inked a conditional sale-and-purchase agreement with Ever Gain Company Ltd to buy the fifth to the ninth floors of the Tai Sang Shatin Warehouse Centre.
Ever Gain will lease back the property for five years.MLTM said the acquisition would be accretive to MapleLog’s distribution per unit (DPU). The pro forma financial effect of the acquisition on the DPU for the financial year ended Dec 31, 2006, will be an additional 0.01 Singapore cent per unit.
MLTM added that it expected to see good demand for logistics real estate in the Shatin area, thanks to strong economic growth in Hong Kong for the last three years.
‘Hong Kong’s close ties with mainland China has benefited the economy in several ways - most importantly, through the re-export of (China) goods,’ MLTM’s statement to the Singapore Exchange (SGX) yesterday said.
‘The rising demand for warehouse space from businesses supporting the China hinterland, coupled with the limited supply of new logistics space in Hong Kong, is expected to sustain positive rental reversions.‘
The recently completed Hong Kong-Shenzhen Western Corridor as well as the Route 8 linking Hong Kong International Airport to Shatin, which is expected to complete in mid-2009, will further enhance the connectivity of the Shatin area,’ the statement added.
MLTM expects the acquisition - which it intends to fund entirely by debt - to be completed by the third quarter of this year.
‘However, this does not preclude the manager from exploring alternative means of funding should the need arise,’ MLTM said.
Source: The Business Times, 11 July 2007
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