Thakral

[greengiraffe]

Thakral to diversify Aussie property focus

It will broaden distribution business which posted loss
Published on Apr 25, 2014 1:25 AM


Thakral's residential project, Australia Towers, in Sydney. It said it will start looking at retail, industrial, commercial and hotel property projects too. -- PHOTO: THAKRAL
Mr Inderbethal Singh Thakral, managing director of the company’s distribution business, on plans toexpand in Asia


By Audrey Kang

THAKRAL Corporation is betting big on Australia, unveiling plans yesterday to diversify its residential property holdings Down Under to other types of property.

Singapore Exchange-listed Thakral is also looking to broaden its consumer electronics distribution business, to include health, lifestyle and environment-related products.

The company's investment division recorded profits of $9.6 million last year, helping to offset losses in other areas notably its distribution business.

So far, Thakral has invested in only residential property projects in Australia, but said it will start looking at retail, industrial, commercial and hotel property projects.

At a luncheon in Novotel hotel, Mr Jaginder Singh Pasricha, managing director of Thakral's investments and corporate division, said the company is optimistic about its investments in Australia and will continue to explore new opportunities there.

The Australian housing market has been performing strongly. Last year, house prices in the country rose by 9.48 per cent.

While Thakral's main focus is Australia, Mr Pasricha said the company remains hopeful over investment opportunities in Japan.

Chief financial officer Anil Moolchand Daryanani said its investment division contributed significantly to the company's profit for 2013, in contrast to its distribution division, which suffered a loss.

It is also refocusing its distribution division as a result.

Mr Daryanani said although Thakral has always been focused on electronics distribution, it is going to shift to lifestyle, health and beauty, as well as environment-related products such as air purifiers.

It is looking into distribution of smartphones, wearable technology and fashion, among other product ranges.

Mr Inderbethal Singh Thakral, managing director of the company's distribution business, said: "The main focus for distribution for the next two years will be China and Asia, due to the growing affluence in the region. There has been a change in buying patterns as people get more affluent."

He said the shift in focus aims to meet the demands of what consumers want, especially in health and environment-related products.

audkang@sph.com.sg

Background story

FOCUS ON CHINA, ASIA

The main focus for distribution for the next two years will be China and Asia, due to the growing affluence in the region. There has been a change in buying patterns as people get more affluent.

- Mr Inderbethal Singh Thakral, managing director of the company's distribution business, on plans to expand in Asia

[greengiraffe]

Tim Gurner’s Brisbane aims nourished by Thakra

ROSANNE BARRETT THE AUSTRALIAN MAY 28, 2014 12:00AM

ENTREPRENEUR Tim Gurner’s ambitious entry into Brisbane’s residential development sector has garnered strength with the financial backing of Singapore-based Thakral Corporation.

The company told the Singapore stock exchange it would make an initial investment of up to $46.2 million in Gurner’s FV project, a three-tower, 950-apartment and mixed use retail development in Fortitude Valley.

Mr Gurner — who was last year named on the BRW Young Rich List with an estimated wealth of $26m — said the $600m project would be a joint venture with Thakral.

Funding is still being sought for capital works for the development, which remains before Brisbane City Council.

“We’re talking to all the major four (banks) at the moment,” Mr Gurner said.

“The Brisbane market is positive at the moment. We’re pretty confident in that market.”

The first stage of the project, which is slated to start construction in the middle of next year with a 26-month schedule, will include two towers of about 650 apartments, 2200sq m of retail space and more than 550 parking spaces.

The site — currently home to a commercial building — is in an area where the council wants urban renewal at the intersection of Alfred Street, Barry Parade and Brunswick Street, about 150m from the Fortitude Valley train station.

In Gurner’s first foray into Brisbane, the residential towers will be known as Flatiron and Valley House. One, two and three-bedroom apartments will start from level seven, aimed at people aged 25 and 40.

Thakral’s managing director for investments and corporate, Jaginder Singh Pasricha, said the project was in line with their strategy of “building lasting relationships with development partners”.

“As part of our strategy to optimise returns while managing risk, the group is taking an early stage position in quality, well-located projects,” he said.

Mr Gurner said he was actively pursuing the Brisbane development market, scoping between 20 and 30 sites each week.

“I’m interested in everything within about one kilometre of the city,” he said.

“Anything from 50 apartments to 200 to 300 apartments.”

[greengiraffe]

http://www.businesstimes.com.sg/companie...-buildings

Thakral invests S$42m in Osaka office buildings
By
Jamie Lee leejamie@sph.com.sg@JamieLeeBT
5 Nov5:50 AM
Singapore

THAKRAL Corporation, a trading and property firm, on Tuesday said it has invested S$42 million in two office buildings in Osaka, Japan. The investment will be made through Thakral Japan Properties Pte Ltd - a pooled investment vehicle - with equity from the group, and other

[greengiraffe]

Thakral and Aberdeen Asset Management in investment tie-up

• THE AUSTRALIAN
  
• AUGUST 24, 2015 12:00AM
  

0

Rosanne Barrett
[Image: rosanne_barrett.png]
Reporter
Brisbane

[Image: 311881-5ac18628-46fd-11e5-973c-16f10a4fdabf.jpg]
Tim Gurner's FV project achieves $530m in sales as final building sells out in 6 weeks. Source: Supplied
[b]Thakral’s Australian arm will partner with Aberdeen Asset Management in a new fund to invest in property debt across the eastern seaboard.[/b]
The Singapore-listed investment house will establish the TCAP Australian Mezzanine Programme to fund projects across Sydney, Melbourne and Brisbane with an initial term of up to six years.
Funds heavyweight Aberdeen will invest “substantial” funds in the venture.
TCAP managing director Jaginder Singh Pasricha said the program would allow the group to access greater capital to back projects by local developers.
“Having Aberdeen as an investor demonstrates that we have the confidence of global fund managers to manage their capital prudently and produce strong returns,” he said.
“With the backing of Aberdeen, Thakral will have greater flexibility in sourcing capital for deployment alongside our own capital in its projects.”
Last week, Thakral announced it had established a joint venture with PVAP to manage retirement villages under the management of Queensland company Living Gems.
The joint venture intends to acquire sites from five hectares to 30 hectares in south Queensland and northern NSW to develop more than 1000 retirement homes.
It’s first purchase is a $6.25 million 8.46ha site in Highfields, Toowoomba.

[lanoitar]

After a 2 years wait, Thakral will finally be holding an auction sale for its Hong Kong warehouse units (Wah Tung Godown) in 3 weeks time. The assets are classified as held for sale in the books at S$38.6m, but HK Media is reporting an owner's indicative price of $418m HKD (S$72.8m, or 55.6c/share):


工廈招標-油塘工廈招標-四層樓意向價4-18億

Wah Tung Godown sits on a prime waterfront area that has been transformed from Industrial to Residential use. HK's URA has zoned Thakral's warehouse land as "Residential (Group E)":

[Image: phKVPCo.png]

Thakral's last traded at 37c, with a market cap of $48.4m. In all likelihood, a successful sale will bring in proceeds that exceed its current market cap.

Further background reading:

[Straits Times] Bold move to reinvent itself starts to pay off for Thakral

[karlmarx]

And it has been sold, at close to its indicative price. This may be the turning of Thakral's fortunes. Those who have bought on the news will rejoice!

http://infopub.sgx.com/FileOpen/ThakralC...eID=468420

[cyclone]

Thakral to acquire The Riverwalk office unit for $30 mil

Thakral Corporation Ltd plans to acquire a 18,998 sq ft (or 1,765 square metres) office property at The Riverwalk in Singapore, as part of its strategic thrust to expand its investment portfolio in Southeast Asia.

The proposed acquisition, which is an interested person transaction subject to approval by shareholders, will be made via a Put and Call Option Agreement signed between TCL and Thakral Investment Holdings Pte Ltd. While the entire shareholding of Thakral Realty (S) Pte Ltd ("TRSPL") will be purchased for a net sum of S$9 million, the total consideration to acquire the proposed property will be S$30 million, taking into account TRSPL’s current outstanding loan of S$21 million.

TRSPL owns The Riverwalk office property, which has a lease tenure of 99 years commencing 15 December 1980.

The office unit is fully-tenanted and has a valuation of S$30.5 million (according to a recent valuation conducted by Jones Lang LaSalle Property Consultants Pte Ltd.

More details in :
1. http://infopub.sgx.com/FileOpen/ThakralC...eID=506668
2. http://infopub.sgx.com/FileOpen/ThakralC...eID=506673

[cyclone]

Thakral Adds Another Osaka Office Building to Its Japanese Property Investment Portfolio

Thakral Corporation Ltd has added another commercial property to its portfolio in Osaka, Japan, under its direct subsidiary in Singapore, TJP Pte. Ltd. ("TJPP"). TJPP, which was formed in 2018, is a pooled investment vehicle with equity interests from the Group and co-investors for investing in properties in Japan.

The Nikke Yotsubashi Building is a 10-storey office building centrally located on Yotsubashi Suji, a minute’s walk from Yotsubashi Subway Station. The property has a very broad street frontage along Yotsubashi Suji making it a valuable site. It is built on freehold land area of 881.2 sq m with a gross floor area (GFA) of 7,524 sqm. It has a net rentable area (NRA) of 5,105 sq m and is almost fully tenanted with a current occupation rate of 95%.

Built in November 1973, it has been extensively renovated, being fitted with an earthquake reinforcement structure in 2014-2015; minimal capital expenditure is expected on this property for the next 10 years.

With a view to streamlining the investment portfolio, TJPP has also acquired the previously announced Kitahama Building from the Group’s other pooled investment vehicle, Thakral Japan Properties Pte. Ltd., which has a different shareholding structure. Kitahama Building is also an office building very close to the central business district in Osaka, a 5-minute walk from the Kitahama station on the Sakaisuji Line.

The latest investment increases Thakral’s portfolio of real estate investments in Japan to 11 properties. The properties cover three hotels and eight commercial/office buildings in Osaka, the second biggest metropolis in Japan.

The latest investment is in the ordinary course of the Group’s business and is part of its overall strategy to broaden its asset and earnings base in Japan to capitalise on the country’s strong economic fundamentals and tourism boom.

More details in https://links.sgx.com/FileOpen/ThakralCo...eID=566433

[cyclone]

Thakral Acquires Additional Property in Australia to Expand Its Development of World-Class Resort-Style Retirement Housing
* Acquisition made via GemLife which has committed about A$6 million to develop the property

Thakral Corporation Ltd has acquired 4.4 hectares of prime land in Queensland, Australia, through its GemLife joint venture for over-50s lifestyle resorts.

The land, located in Pacific Paradise on the Sunshine Coast, will accommodate a world-class over-50s lifestyle resort, expanding GemLife’s rapidly growing portfolio to six resorts. GemLife has committed about A$6 million to the resort which will comprise 96 homes upon completion, bringing the total number of residences under the company’s umbrella to more than 1,400.

Construction at the site is scheduled to commence next month, with the first homes ready to move into in early 2020.

More details in https://links.sgx.com/FileOpen/ThakralCo...eID=580094

[cyclone]

Thakral Acquires Additional Property in Australia to Expand Its Development of World-Class Resort-Style Retirement Housing
* Acquisition made via GemLife which has committed about A$20 million to develop the property

Thakral Corporation Ltd has entered into a contract conditional to satisfactory Foreign Investment Review Board ("FIRB") approval to acquire 46.4 hectares of prime land in Queensland, Australia, through its GemLife joint venture for over-50s lifestyle resorts.

The land, located in Pimpama, within the Gold Coast region, will accommodate a world-class over-50s lifestyle resort, expanding GemLife’s rapidly growing portfolio to seven resorts. GemLife has committed about A$20 million to the resort which subjectto development approval, will be GemLife’s largest resort to date and will comprise about 450 homes upon completion, bringing the total number of residences under the company’s umbrella to more than 1,800.

Construction at the site is expected to commence in Q4 2020.

More details in https://links.sgx.com/FileOpen/ThakralCo...eID=589253