Keppel REIT (formerly: K-Reit Asia)

[AlphaQuant]

Keppel Corp is issuing dividends in specie of units in Keppel REIT. 1 K-REIT for every 5 KepCorp

so K-REIT
1) is now the new fiat ccy that KepCorp or KepLand can print freely
2) buys leasehold packages of freehold land from parent
3) buys parent's properties at super high prices.

god bless all the K-REIT holders.

[Nick]

Keppel Corp is issuing dividends in specie of units in Keppel REIT. 1 K-REIT for every 5 KepCorp

so K-REIT
1) is now the new fiat ccy that KepCorp or KepLand can print freely
2) buys leasehold packages of freehold land from parent
3) buys parent's properties at super high prices.

god bless all the K-REIT holders.

This is incorrect. Keppel Corp has no legal authority to issue new Keppel Reit units to its own shareholders. Instead, it is proposing to issue its own existing stake in Keppel Reit to its own shareholders. There is no issue of new shares in this case.

Keppel Corporation Limited (“KCL” or the “Company”) is pleased to announce a proposed dividend in specie (the “Proposed Distribution”) of up to 366,606,000 units in Keppel REIT (“Keppel REIT Units”) held indirectly by the Company through its wholly-owned subsidiary, Keppel Real Estate Investment Pte. Ltd. (“KREI”), to the shareholders of the Company (“Shareholders”).

(Not Vested)

[AlphaQuant]

ah apologies missed that.

[Drizzt]

can someone rename this topic haha.

[CityFarmer]

Keppel Corp, Keppel REIT sell trust units to raise S$153 million

INGAPORE - Keppel Corp and Keppel REIT together raised about S$153 million by selling units in the real estate investment trust, the companies said on Friday, Dow Jones Newswires reported.

Keppel Corp, a conglomerate with interests in offshore and marine, real estate and telecommunications, raised about S$100 million by paring its stake in Keppel REIT to 71.7 per cent from 75.6 per cent. Keppel Corp sold 75 million Keppel REIT units to unnamed buyers at S$1.33 apiece, it said in a regulatory filing with the Singapore Exchange. The selling price marked a 1.1 per cent discount from the REIT’s closing price on Thursday of S$1.345.

http://www.todayonline.com/business/kepp...53-million

[greengiraffe]

Keppel Reit just purchased a 50% share in a Melbourne Building...

Rent fears trigger forecasts of panic
• BY:SARAH DANCKERT
• From:The Australian
• June 27, 2013 12:00AM
• Increase Text Size
• Decrease Text Size
• Print
•
•
FRESH warnings have been sounded about potential panic among Melbourne office landlords, with an economic forecaster saying net effective rents could fall a further 10 per cent over the next 12 months.
Net effective rents fell 7 per cent to $325 per square metre over the year to June, as the vacancy rate pushed out to 9 per cent, according to BIS Shrapnel.
Some of Australia's largest institutional landlords are facing significant vacancies. These include CBUS Property, Commonwealth Office Property, Dexus, ISPT and Investa.
The figure is expected to hit about 10 per cent by the end of the year as even more supply comes on line and will remain elevated for another year or so, said BIS Shrapnel's senior project manager, property, Maria Lee.
"Our concern is that because everybody is expecting the market to recover imminently and for 2014 to be suddenly stronger, when we get to 2014 and it's apparent the market isn't stronger, that then the market panics," Ms Lee said. "And we've seen this happening before in Melbourne. In 2002-05 there was a 30 per cent decline in net effective rents."
Lower rents are the likely manifestation of market panic, as landlords react to the growth in the vacancy rate and the delayed recovery.
Ms Lee said that BIS Shrapnel expected the Victorian economy to remain weak over 2014, creating a flow-on effect for the Melbourne office market, with large corporate tenants downsizing their space requirements.
"The workforce in standalone office buildings has been growing more slowly than the total office workforce and that's unusual," she said. "Over the last 20 years there wouldn't been too many years where that's happened, and when it has happened it certainly hasn't been to the extent that it is happening now. It's not as drastic as that (1990-91 downturn), but it is serious nonetheless."
The dour market has led to considerable chasing of a few large-scale tenants.
KPMG is said to be close to finalising a deal with Lang Walker at Collins Square, though sources could not rule out the accounting giant extending its current lease at 161 Collins Street by two years despite an expensive fitout required to maintain its tenancy.
Meanwhile, Ernst & Young has this week hired a tenant representative to investigate a new office for the accounting firm, though expectations are the group will stay on at 8 Exhibition Street after its lease expires in 2017. PricewaterhouseCoopers is mulling several options for its new office while ANZ's 15,000sq m requirement is understood to have been waylaid by significant job cuts.
Jones Lang LaSalle head of capital markets research Andrew Ballantyne said the group also expected the Melbourne office market to remain weak over 2014, with vacancy peaking at 10 per cent. "It's certainly a weak market at that level, but we don't think it's a train wreck," he said.
"I believe that Melbourne is the Mark Twain of the commercial property world - Melbourne reads its own obituary every seven to five years, and those obituaries haven't played out. At least Mark Twain only read his once." He was referring to the writer falling victim to a death hoax in 1897.
BIS Shrapnel's Ms Lee said landlords should be aware of the fact that the downturn could go on longer than expected and should not sign deals that locked them out of the upswing that is forecast in 2015 and 2016 when the state's economy moves out of the doldrums.

[KopiKat]

Another round by KepCorp,

PROPOSED DIVIDEND IN SPECIE OF UNITS IN KEPPEL REIT

Extracts,

on the basis of eight (8) Keppel REIT Units for every one hundred (100) ordinary shares in the Company

As at the date of this Announcement, approximately 44.3% of the issued units of Keppel REIT is in public hands (“Public Shareholders”). Assuming that the Proposed Distribution was completed as at the date of this Announcement, the unitholding of Keppel REIT held by Public Shareholders will increase to approximately 48.6%.

[NTL]

Another round by KepCorp,

PROPOSED DIVIDEND IN SPECIE OF UNITS IN KEPPEL REIT

Extracts,

on the basis of eight (8) Keppel REIT Units for every one hundred (100) ordinary shares in the Company

As at the date of this Announcement, approximately 44.3% of the issued units of Keppel REIT is in public hands (“Public Shareholders”). Assuming that the Proposed Distribution was completed as at the date of this Announcement, the unitholding of Keppel REIT held by Public Shareholders will increase to approximately 48.6%.

After they give out enough K-REIT, will they start giving out K-Land? Having more and more odd-lot...

[Nick]

Keppel Reit seeks trading halt, plans to place 95m new units at S$1.26 each

http://www.businesstimes.com.sg/breaking...h-20130726

[greengiraffe]

Keppel Reit has been flagging the capital raising for a while. Most analysts are holding back their recommendations due to this pending fund raising. Only Macquarie Securities have a outperform on the counter.

At $1.26, the pricing of the raising is attractive and with increasing free float and the short term fund raising overhang remove, share price is definitely looking attractive.

Vested
GG

Keppel Reit seeks trading halt, plans to place 95m new units at S$1.26 each

http://www.businesstimes.com.sg/breaking...h-20130726