In today’s briefing:
- This Needs To Be Sorted: Great Eastern (GE SP)’s Protracted Suspension
- Frasers Centrepoint Trust Placement: Not a Whole Lot of DPU Accretion
- 10 in 10 with CapitaLand India Trust – Capitalising India’s Tech Growth
This Needs To Be Sorted: Great Eastern (GE SP)’s Protracted Suspension
- Back on the 10th May 2024, OCBC (OCBC SP) launched a voluntary unconditional general Offer for the 11.56% in life/non-life insurer Great Eastern Holdings (GE SP) not held.
- The Offer closed on the 12th July with OCBC holding 93.62%. Shares were subsequently. suspended. And have been suspended ever since. Compulsory acquisition was not afforded.
- The SGX has thrice granted OCBC an extension of time to restore the float. UK-based activist Palliser is agitating for better terms. Time for a bump.
Frasers Centrepoint Trust Placement: Not a Whole Lot of DPU Accretion
- Frasers Centrepoint Trust (FCT SP) aims to raise around US$153m in order to partly fund its full acquisition of Northpoint City South Wing.
- This will complement the company’s operations of the Northpoint City North Wing and consolidate the entire Northpoint City under its ownership.
- In this note, we comment on the deal dynamics and run the deal through our ECM framework.
10 in 10 with CapitaLand India Trust – Capitalising India’s Tech Growth
- CLINT anticipates revenue growth in FY2025 from MTB 6 at ITPB and a data centre in Navi Mumbai.
- CLINT’s portfolio occupancy reached 95% in December 2024, driven by asset enhancements and effective leasing activities.
- CLINT achieved a 14% year-on-year growth in NPI for FY 2024 and a 7.2% distribution yield.
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