$Kep Infra Tr(A7RU.SI)$ (KIT) on reported a jump in distributable income of 27.7% to S$65 million, from S$50.9 million in the previous corresponding period. Q1 distributable income will decrease by 31.9% on the year to S$45.5 million after adjusting for one-off costs. As at Mar 31, KIT’s net gearing stood at 40.8%, with interest coverage ratio at 6.8 times😱
$SIA(C6L.SI)$ Singapore travellers to enjoy better access to rural Japan with SIA-ANA joint venture. Travellers flying into Japan from Singapore will soon enjoy better access to off-the-beaten-track destinations across the archipelago. Both airlines will pool their resources to achieve more efficient route planning, as they coordinate flight schedules, seat capacity and fares for flights between Singapore and Japan. ANA services 61 domestic airports in Japan, from Nemuro-Nakashibetsu in north-eastern Hokkaido to Ishigaki in south-western Okinawa.
$Olam Group(VC2.SI)$ Olam will dispose of its entire stake in port and logistics operator Arise P&L for a US$175 million consideration, as part of plans to monetise one of its units. The group said it entered into a conditional sale and purchase agreement with Equitane DMCC to dispose of its whole stake in Arise P&L, amounting to 161.1 million ordinary shares or around 32.4 per cent of the issued and paid-up shares in the company’s capital. The disposal aligns with its updated reorganisation plan.
$Keppel DC Reit(AJBU.SI)$ KDC recorded a higher distribution per unit (DPU) of S$0.02503 for the first quarter, up 14.2%. Distributable income for the period rose 59.4% to S$61.8 million. Higher net property income was primarily due to acquisitions of Keppel DC Singapore 7, Keppel DC Singapore 8 and Tokyo Data Centre 1, alongside higher contributions from contract renewals and escalations in 2024.
$CapitaLandInvest(9CI.SI)$ CapitaLand Investment (CLI) plans to list the CapitaLand Commercial C-REIT (CLCR) on the Shanghai Stock Exchange. This would increase funds under management of CLI’s listed funds platform, strengthening its leading position as Asia Pacific’s largest REIT sponsor-manager by market capitalisation. CLCR will invest in operating retail assets in China, benefiting from the Chinese government’s policies to stimulate domestic consumption. For a start, CLCR will have two mature assets, CapitaMall SKY+ in Guangzhou and CapitaMall Yuhuating in Changsha, with a combined value of some RMB2.8 billion and a total gross floor area of 168,405 square metres (sqm) with an aggregate committed o