Aspial

[greengiraffe]

• Aug 24 2015 at 11:21 AM 
   
  
  
•  Updated Aug 24 2015 at 5:17 PM 
  

Singapore's Aspial Corporation to build Brisbane's tallest residential tower

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[img=620x0]http://www.afr.com/content/dam/images/g/j/6/4/h/e/image.related.afrArticleLead.620x350.gj649i.png/1440400636252.jpg[/img]Aspial Corporation's planned 30 Albert Street residential tower is expected to be the tallest in Brisbane.supplied
[Image: 1426114375736.png]

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by Matthew Cranston
The Singapore-based developer behind the tallest planned tower in the southern hemisphere – Australia 108 in Melbourne –  is seeking approval to develop Brisbane's tallest apartment building, with plans for a 91-storey project just lodged.
The Cox Rayner-designed tower will rise 274 metres above sea level, contain 732 apartments and rival AMP Capital's planned Skytower, which is similarly competing for the status of Brisbane's tallest tower.
Aspial Corporation chief executive Koh Wee Seng said the $460 million tower's proximity to the Queen Street Mall, the Queen's Wharf project and other city amenities differentiated it from other projects.
"We see a lot of opportunity in the Australian property market where there is a marked shift to apartment living," Mr Koh said,

"There is clearly a strong market for quality apartments in the city and Aspial's research shows that this area of the CBD is currently underserviced."
As exclusively reported by afr.com last year, Aspial purchased the property where it will build the tower at 30 Albert Street for $36 million – or almost twice what the vendor Cornerstone Properties had purchased it for 12 months earlier.
Aspial has made a strong push into Australia. It is developing the $900 million Australia 108 tower, on Melbourne's Southbank just outside the city centre. It will be Australia's first 100-storey building and the tallest in the southern hemisphere.
An international businessman based in China has already paid $25 million for the 750 square metre penthouse on the very top of Australia 108 in what was a record for Melbourne. 


With Aspial's floor plans for the Albert Street development including grand pianos, some in the industry expect pricing will also set a new benchmark in Brisbane.
Mr Koh said he thought the Australian residential property market was buoyant and that there was an appetite for aspirational, high-quality homes.
He said Aspial was also working on plans for another Brisbane site at 240 Margaret Street. That site, purchased earlier last year for more than $25 million, backs directly on to where AMP Capital is building its Skytower, which will rise 90 storeys, 274 metres high, and add another 1128 apartments to the market.
It is understood that about six architects competed in a design competition for Aspial's Albert Street tower, with local architect Cox Rayner winning.

Cox Rayner director Jayson Blight said the 732 apartments would predominantly have two bedrooms, and be of a size and quality that would suit owner-occupiers as well as investors.
"This part of the city is ideally suited to residential living, and 30 Albert Street will contribute to the renewal of the precinct," Mr Blight said.
If approved, the apartments are expected to be released to the market early next year. Town planners Cardno lodged the documents on behalf of Aspial. 

[kehyi4]

From SGX Company Disclosures:
---
ASPIAL’S FIRST RETAIL BOND OFFERING RECEIVES OVERWHELMING DEMAND FROM INVESTORS; PUBLIC OFFER 8.7 TIMES SUBSCRIBED

• 5-year Bonds with fixed interest of 5.25% per annum resonated well with investors
  
• The Offer was overall approximately 3.9 times subscribed; the Public Offer and Placement tranches had subscription rates of approximately 8.7 times and 3.0 times, respectively
  
• S$217,331,000 received in aggregate principal amount for Public Offer
  
• Due to strong demand, the Public Offer tranche was increased to S$100.0 million while the Placement tranche was increased to S$50.0 million
  
• Net proceeds approximately S$146.7 million
  
• The Bonds are expected to commence trading on SGX-ST at 9.00 a.m. on August 31, 2015 (symbol: BEYZ)
  

---
Balloting Ratio is 1:1
2 1:1 2 2.00%
3 1:1 3 1.23%
4 1:1 4 1.25%
5 to 9 1:1 4 7.78%
10 to 19 1:1 7 22.45%
20 to 29 1:1 11 20.03%
30 to 49 1:1 14 11.69%
50 to 99 1:1 19 18.54%
100 to 149 1:1 31 9.95%
150 to 199 1:1 46 1.15%
200 to 299 1:1 59 2.42%
300 to 499 1:1 89 0.98%
500 to 599 1:1 132 0.53%

[greengiraffe]

From SGX Company Disclosures:
---
ASPIAL’S FIRST RETAIL BOND OFFERING RECEIVES OVERWHELMING DEMAND FROM INVESTORS; PUBLIC OFFER 8.7 TIMES SUBSCRIBED

• 5-year Bonds with fixed interest of 5.25% per annum resonated well with investors
  
• The Offer was overall approximately 3.9 times subscribed; the Public Offer and Placement tranches had subscription rates of approximately 8.7 times and 3.0 times, respectively
  
• S$217,331,000 received in aggregate principal amount for Public Offer
  
• Due to strong demand, the Public Offer tranche was increased to S$100.0 million while the Placement tranche was increased to S$50.0 million
  
• Net proceeds approximately S$146.7 million
  
• The Bonds are expected to commence trading on SGX-ST at 9.00 a.m. on August 31, 2015 (symbol: BEYZ)
  

---
Balloting Ratio is 1:1
2 1:1 2 2.00%
3 1:1 3 1.23%
4 1:1 4 1.25%
5 to 9 1:1 4 7.78%
10 to 19 1:1 7 22.45%
20 to 29 1:1 11 20.03%
30 to 49 1:1 14 11.69%
50 to 99 1:1 19 18.54%
100 to 149 1:1 31 9.95%
150 to 199 1:1 46 1.15%
200 to 299 1:1 59 2.42%
300 to 499 1:1 89 0.98%
500 to 599 1:1 132 0.53%

Retailers are still hard up for "higher yielding" instrument when high net worth clients already had their fair share and are now suffering from indiscriminate sell-offs of high risks corporate names...

No Interests In Bonds Now
GG

[greengiraffe]

ITE liao???

http://infopub.sgx.com/Apps?A=COW_CorpAn...t_9M15.pdf

[butcher]

Aspial issuing new bonds - 5.30% 4 Years Bond Due 2020

[corydorus]

Looks like this company can only afford to tap on cheaper retailers who seems unable to gauge the risk appropriately.
If the economy tanks, this bond maybe the next victim ?

Singapore's aunties and uncles take risks in hunt for yield
http://www.businesstimes.com.sg/banking-...-for-yield

[CY09]

Lets think rationally: Why 5.3% yield from retailers.

The main reason is simply Aspial is unable to borrow at rates lower than 5.5% from financial institutions as banks too are worries of its high leverage. So what better way than to pass the risk to the public while earning fees for placing it out.

Aspial is now running on the public's trust to roll their debts. Should banks decided not to roll over their short term debts or Australia ppty venture fail, would the public still lend them money? Who knows lets wait till 2020 to find out

[weijian]

Looks like this company can only afford to tap on cheaper retailers who seems unable to gauge the risk appropriately.
If the economy tanks, this bond maybe the next victim ?

Singapore's aunties and uncles take risks in hunt for yield
http://www.businesstimes.com.sg/banking-...-for-yield

Most of these journalists just need to look for what they want to write (something different of course) and then justify their pay I reckon. Most of these articles are really losing their credibility.

http://www.bloomberg.com/news/articles/2...nomy-slows

2 articles with different headlines, and both contains facts (in fact, overlapping facts). More noise but it spells delight for the one who is able to differentiate the signal from the noise.

[Scg8866t]

This company is extrememly successful in Australia 108 and Avant. In total they have ard 1.5bil in SGD locked in from sg and aussie property development. Their next project at Nova City is also highly anticipated(http://www.cairnspost.com.au/lifestyle/b...9cba60247b)

They leveraged themselves with the one goal of venturing into Australia which so far they have succeeded, so I am puzzled when journalist only talks about the balance sheet, very onesided. (refering to their retail bonds)

[pianist]

This company is extrememly successful in Australia 108 and Avant. In total they have ard 1.5bil in SGD locked in from sg and aussie property development. Their next project at Nova City is also highly anticipated(http://www.cairnspost.com.au/lifestyle/b...9cba60247b)

They leveraged themselves with the one goal of venturing into Australia which so far they have succeeded, so I am puzzled when journalist only talks about the balance sheet, very onesided. (refering to their retail bonds)

another bombshell similar to hyflux falling?
Aspial Corporation Limited (market cap S$474m) announced an exchange offer with regards to the ASPSP 5.500% 27Nov2018 Corp (SGD). The company invites all noteholders to exchange their existing notes for new notes that carry a 5.9% coupon payable semi-annually for a three-year tenor.