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AIMS APAC REIT (formerly: AIMS AMP Capital Industrial REIT)
16-04-2019, 09:17 PM.
Post: #1
AIMS APAC REIT (formerly: AIMS AMP Capital Industrial REIT)
Announcement Regarding AA REIT's Tenant - CWT Pte. Limited

AIMS APAC REIT (formerly known as AIMS AMP Capital Industrial REIT) ("AA REIT"), refers to the announcement dated 16 April 2019 released by CWT International Limited on The Stock Exchange of Hong Kong Limited titled "Inside Information Announcement and Continued Suspension Of Trading". 

CWT Pte. Limited ("CWT"), a wholly-owned subsidiary of CWT International Limited,  is a tenant of AA REIT at 20 Gul Way and 30 Tuas West Road (collectively, the "Properties"). As disclosed in AA REIT’s results presentation slides dated 1 February 2019 on the unaudited financial results of AA REIT for the third quarter ended 31 December 2018 ("3Q FY2019"), CWT is one of AA REIT’s top 10 tenants, and the gross rental income received from CWT’s leases represented 8.4% of AA REIT’s 3Q FY2019 gross rental income.

With respect to CWT’s leases, the Manager wishes to inform that:
* CWT has not defaulted on its rental payments under the various lease agreements entered into with AA REIT in relation to the Properties (the "CWT Lease Agreements") and there are no arrears due from CWT as at the date of this announcement;
* AA REIT presently holds security deposits ranging from three to six months of rental in the form of bank guarantees amounting to approximately S$4.5 million; and
* AA REIT’s exposure to CWT’s leases will be further reduced due to the expiries of the CWT Lease Agreements, with the final CWT Lease Agreement expiring in July 2021. Based on AA REIT’s 3Q FY2019 gross rental income, approximately 5.1% of AA REIT’s gross rental income from CWT will progressively expire in the current financial year ending 31 March 2020

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18-07-2019, 06:13 PM.
Post: #2
RE: AIMS APAC REIT (formerly: AIMS AMP Capital Industrial REIT)
AIMS APAC REIT Secures Ten-Year Master Lease for Ongoing 3 Tuas Avenue 2 Redevelopment

AIMS APAC REIT (AA REIT) today announced it has successfully secured a master tenant for its property at 3 Tuas Avenue 2. The redevelopment of the property, which was originally projected to be completed in the second half of 2019, is now expected to be completed in the first half of 2020 due to redesigning of the property’s base-build to cater for the master tenant’s operational requirements. However, the redesigning of the property’s base-build will not have a material impact on the overall redevelopment cost of the property.

The master tenant, a global medical device company with headquarters in USA, will occupy the entire premises of approximately 268,000 sq ft upon completion. The tenant has committed to a ten-year master lease on a triple net lease basis, with rental escalations every two years during the initial term, and options to renew the lease for up to a further 20 years after the expiry of the initial ten-year term. The project development cost is estimated to be S$48.2 million and the property’s value on an “as-if-completed” basis is circa S$51.8 million . The property is expected to provide an approximate initial net property income yield of 7.3%.

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06-11-2019, 08:52 PM.
Post: #3
RE: AIMS APAC REIT (formerly: AIMS AMP Capital Industrial REIT)
ESR Cayman Ltd increases its stake in AIMS APAC REIT from 5.238% to 9.088%.

This is after AMP recently exited as a major investor (10%) through a share placement that saw AIMS share price drop from 1.48 to a low of 1.34. Following this sale, APG (Dutch pension fund and also a very very long term holder) reduced its stake from 8% to below 5%.

George Wang controls about 17%, the rest is free float with some institutional, HNW and Hedge Fund investors having 5% stakes, so this is a REIT that could be in play.

ESR Cayman has cash (having just listed on the HKSE) and presumably wants growth.

ESR Cayman controls the old Cambridge REIT which subsequently merged with Viva Business Trust and renamed itself "ESR REIT".

ESR Cayman has control over 5% of AIMS APAC REIT through ESR REIT (the old Cambridge REIT ) which made a failed take over of MacArthur Cook REIT (subsequently renamed AIMS AMP REIT and now AIMS APAC REIT) and was stuck with the 5%.

ESR REIT(aka "Cambridge") is interesting because it has subsequently merged with Viva Business Trust and because its controlling shareholders also controls the manager of Sabana REIT and seems keen on consolidating REITs, so this could be an opening move to take control of or merge AIMS APAC REIT with ESR REIT.

By buying full control of the Manager earlier this year (from AMP which subsequently also sold its common shares) , George Wang is in an easier position to negotiate a sale if that is what he wishes. Having said that, he makes good fee income from the manager, the REIT keeps (successfully) redeveloping old properties to maximise plot ratios and is now expanding into Australia, so maybe he would not be interested in exiting....

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