Daily Briefing: Frasers Centrepoint Trust beats some REITs in Q4; MindChamps invests US$200m into Chinese expansion
And here are three firms giving out dividends this week.
From The Motley Fool:
On Thursday, Lum Chang Holdings Limited (SGX: L19), will be going ex-dividend. The firm, which was founded in the 1940s, is involved in property development and investment.
It is paying 0.3 Singapore cent per share for the second quarter.
For the quarter ended 31 December 2017, revenue plunged 38% year-on-year to $60.5m largely on the back of lower revenues from substantially completed construction projects and an ongoing construction project.
Read more here.
From Deal Street Asia:
SGX-listed MindChamps PreSchool, a premium preschool brand, has entered into a joint venture (JV) agreement with China First Capital Group Limited (CFCG) to enter the Chinese market.
The JV will look at investing US$200m in the initial expansion phase, according to a media release. CFCG is a Hong Kong-listed full-stack education industry chain, offering diversified financial services.
Read more here.
From The Motley Fool:
During the reporting quarter, Frasers Centrepoint Trust’s gross revenue increased by 8.7% year-on-year to $47.91m whilst net property income did slightly better, growing by 9.1% to $34.51m. The REIT’s distribution per unit (DPU) came in 3.8% higher at 3 cents.
Frasers Centrepoint Trust attributed its growth to the completion of the AEI (asset enhancement initiative) at Northpoint City North Wing, which drove an improvement in occupancy at the mall. Higher contributions from Causeway Point and Changi City Point also contributed to the REIT’s revenue growth. Frasers Centrepoint Trust’s portfolio ended the reporting quarter with a committed occupancy rate of 92.6%.
Read more here.
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