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Dalian Wanda to hike buyout offer for property unit; Kaisa takes debt restructuring plan to NYC court

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

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IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


Dalian Wanda to hike buyout offer for property unit; Kaisa takes debt restructuring plan to NYC court

* Dalian Wanda Group Co. Ltd. islikely to announce a 10% hike in its HK$48-per-share offer to delist in Hong Kong, The Wall Street Journal reported,citing sources familiar with the plan.

The Chineseconglomerate, which is reportedly mulling over a backdoor listing in Shanghai for the unit, seeks to entice investorssuch as Kuwait Investment Authority and China Life Insurance Group Co. with thehigher offer, according to the sources cited by the publication.

* Kaisa Group Holdings Ltd. filed a Chapter 15 petition ina Manhattan, N.Y., court in the U.S. on May 5, as the Chinese company plans to relyon the country's bankruptcy law to support its proposed debt restructuring in acourt in Hong Kong, Bloomberg News reported.The company previously said it has signedan undertaking agreement after "substantive negotiations" with the representativesof its offshore creditors.

* Growthpoint Properties Australia sweetened its takeover bid for GPT Metro Office Fund by increasing its nonbinding, conditionalcash-and-scrip offer to an implied A$2.41 per unit, from its original A$2.31-per-shareoffer.

* China Resources Land Ltd. and its subsidiaries acquired fourland parcels in Suzhou, Dalian, Ningbo and Wuhan, China, for approximately 6.14billion Chinese yuan of attributable land premium, according to a filing. The propertieshave approximately 1,150,292 square meters of total gross floor area.

* Sun Hung Kai Properties Ltd. unit Opal Lucky Ltd. won thetender for the Hong Kong Lands Department's auction of a nonresidential site inKwai Chung, New Territories, for a premium of HK$350.1 million, according to a release.

AUSTRALIA

* Scentre Group Chairman Frank Lowy bid farewell to shareholdersduring the company's annual general meeting on May 5, as Lowy was to step down the same day. Lowyaddressedshareholders, and said he will be "leaving the company in good hands."

* Lendlease Corp. Ltd. acted as a guarantor for Lendlease Finance Ltd., Lend Lease Europe FinancePlc and Lendlease (US) Capital Inc.'s US$2.00 billion euro medium-term note program.

* The affordability of homes inthe country's capital cities, except in Perth, depreciated over the 12-month periodended March 31, leading homeowners to allot a bigger share of their income for monthlymortgage repayments, according to Moody's.

* New home sales in Australia reboundedto a seasonally adjusted 8.9% growth in March from a 5.3% decline in February, Reutersreported,citing a Housing Industry Association survey.

HONG KONG, CHINA ANDTAIWAN

* Moody's said 's planto sell US$1 billion ofChinese malls is credit positive, as the cash proceeds will help in reducing pressureon the company's liquidity position, among other things, Moody's analyst Cindy Yangsaid in a note.

* Goldman Sachs believes that areal estate slowdown in Hong Kong will continue, as it predicted a 20% decline inthe sector amid larger borrowing costs, Bloomberg reported,citing Goldman data.

* Retail sales in Hong Kong werean estimated HK$34.7 billion in March, down 9.8% year over year, according to datafrom the Census and Statistics Department, reportedby the Hong Kong Economic Times.

* China's Academy of Social Sciencesreleased a report that forecasts a decline in real estate prices from the secondhalf of 2017 onwards, according to Guandian.

* The number of home deals in Taiwanmight increase between July and December, as 45.4% of surveyed locals intend topurchase properties in the coming period, the Taipei Times reported,citing a Taiwan Realty Co. poll.

JAPAN

* The Ministry ofHealth, Labor and Welfare and the Japan Tourism Agency are considering introducingregistration requirements for Airbnb-style accommodation providers using privateresidential properties, Jutaku-Shimpo-Shareported.

* The Ministry ofLand, Infrastructure, Transport and Tourism's statistics showed that housing startsin Japan increased 8.4% year over year to 75,744 in March, led by a 49% surge inapartment construction starts, Kentsu Shinbunshareported.

SINGAPORE

* Frasers Hospitality Trust received more than S$500 millionof orders for its debut issuance of S$100 million perpetual securities. The companypriced the issuance with a fixed distribution rate of 4.45% per year. Frasers plansto use the proceeds to fund potential acquisition and investment opportunities,working capital requirements and general corporate purposes.

In January,the company's unit and trustee establisheda S$1 billion multicurrency debt issuance program to be offered in Singapore.

* Indiabulls Properties InvestmentTrust's trustee-manager appointed Provenance Capital Pte. Ltd. to serve as the independentfinancial adviser and Lee & Lee as the legal adviser related to a takeover by Indiabulls Real Estate Ltd.'s Grapene Ltd., according toa filing.

* Ascendas Real Estate Investment Trust saidthe exchange price for Ruby Assets Pte. Ltd.'s issuance of S$300.0 million 1.60% exchangeable collateralizedsecurities due 2019 will be adjusted to S$2.0187 per unit from S$2.0505 per unit,effective June 7.

INDIA

* DLF Ltd. is planning to bring its shopping mall assets underseparate special purpose vehicles for conversion into REITs in the future, a planthat could raise around US$1 billion for the country's biggest developer, India'sBusiness Standard reported,citing DLF CEO Rajeev Talwar.

OTHER REAL ESTATE NEWS

* Philippines-based plans tomeet with global mutual funds and other investors in the U.S. "this week,"as part of the company's first investor road show in the country, ThePhilippine Starreported,citing Hannah Yulo, DoubleDragon chief information officer and senior vice president.

Now featured

: The May 6 edition of the Asia-Pacificproperty news recap also features the operational updates of Goodman Group, GPTGroup and Mirvac.

The Daily Dose Asia-Pacific, RealEstate edition is updated by 6:30 a.m. Hong Kong time. Some external links may requirea subscription. Articles and links are correct as of publication time.