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Dalian Wanda Commercial faces possible HK$31.3B privatization

Commercial Real Estate: 2020 Review

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


Dalian Wanda Commercial faces possible HK$31.3B privatization

* said its controlling shareholder and parent firm isconsidering a privatization of the property developer, which couldpossibly lead to a delisting in Hong Kong.

The property unit went public in December 2014.

Bloomberg News reportedthat the indicative price for Dalian Wanda Group's buyout of Dalian WandaCommercial's entire outstanding shares would cost HK$31.3 billion at aper-share price of at least HK$48 in cash.

* In other news,Moody's said Dalian Wanda Commercial's financial results for 2015 aligned with expectations andreflected a modest growth in terms of its financial metrics.

The rating agency maintained its negative outlook on thecompany, as its credit metrics are expected to deteriorate in the next 12months to 18 months, said Kaven Tsang, a Moody's vice president and senioranalyst, in a note. The expected weaker metrics will add pressure to its Baa2rating.

* proposed an issuance of up to 15.00 billion Chinese yuan of domestic corporatebonds to qualified investors in China.

AUSTRALIA

* expects toexpand its Direct Office Fund's funds under management to over A$1 billion bytargeting retail and self-managed super funds investors, The Australian reported.

The company also intends to raise equity for its DirectIndustrial Funds, launch new direct industrial funds DIF 3 and DIF 4 and set upDAT 2 as its second Direct Automotive Trust.

* The New SouthWales government is advancing a A$22 billion housing program by seeking topartner with real estate companies in the private sector, The Australian Financial Review reported.The state government plans to request for expressions of interest on March 31for the redevelopment of the eight-hectare Ivanhoe Estate in Sydney's MacquariePark.

* Private equityfirm Blackstone GroupLP plans to sell its A$220 million portfolio of homemaker centersin Australia's eastern coast, amid compressing yields in the sector, The Australian reported.

* World TradeCentres Holdings is tipped to be interested in acquiring the former MyerMegamart site in the central business district of Perth for around A$50million, as it plans to develop one of the city's tallest skyscrapers, The Australian reported.

HONG KONG AND CHINA

* Moody's saidCK Hutchison HoldingsLtd.'s earnings for 2015 aligned with expectations, with no immediate impactto the company's stable outlook and A3 issuer and senior unsecured ratingsguaranteed by the company.

* said its profit attributable to shareholders amounted to around 6.12 billionyuan for full year 2015, while EPS reached 176.7 fen in the same period. Thecompany's contracted sales amounted to approximately 67.04 billion yuan with acontracted sales area of 5.54 million square meters.

* 's Future Land Holdings Co. Ltd. issued 3 billion yuan ofnonpublic bonds as the second tranche of its 5 billion-yuan bond . The second-tranchebonds comprised corporate bonds category 1 with a coupon rate of 5.44% andcorporate bonds category 2 with a coupon rate of 4.76%.

* U.S. FederalReserve Chairwoman Janet Yellen said the Fed will slowly raise interest ratesin the U.S., a move that could help lead to stable home prices in Hong Kong,the South China Morning Post reported,citing analysts.

SINGAPORE

* said itincreased its deemed interest in CapitaLand Retail China Trust to 38.47% from 38.09%,through the issuance of 1,365,771 and 6,076,267 new units in CapitaLand Retailto the former's wholly owned subsidiaries.

* pricedits S$100 million fixed-rate notes due 2021 with an annual interest of 3.60%.The bonds are part of the REIT's S$500 million multicurrency debt issuanceprogram.

* said itraised its multicurrency medium-term note program to S$750.0 million fromS$500.0 million to provide more flexibility to its funding options.

* Fitch Ratingssaid nine retail S-REITs will endure tough macroeconomic conditions in 2016 dueto their low leverage, "robust" interest coverage plus manageabledebt and lease contract maturities.

* Meanwhile, therating agency also said the earnings of six office S-REITs are expected toweaken in 2016, but most of their credit profiles remain "strong"that would help offset the effect of a slow earnings growth.

JAPAN

* A total of 42urban renewal projects worth ¥2.45 trillion in the Tokyo metropolitan areaincluding Kanagawa Prefecture and Narita City have received government approvalas part of the National Strategic Special Zone deregulation program, Tokyo's The Nikkei reported.

* According to AtHome Co. Ltd., prices of new homes in the capital region averaged ¥33.25million in February, up 1.8% from a year ago, Jutaku-Shimpo-Sha reported. New home pricesin the region rose for four months in a row.

PHILIPPINES

* DoubleDragonProperties Corp.'s offering of preferred shares worth 10 billion Philippinepesos is 5x oversubscribed as it has received 26 billion pesos of bids, The Philippine Star reported.The company set a dividend rate of 6.4778% per year for the offering.

INDIA

* Office spacestock in Bengaluru rose 13% on average in the last 15 years, making it the topcorporate property market in India, the Press Trust of India reported.

OTHER REAL ESTATE NEWS

* spinoff BGPInvestments is reviving a potentialIPO or trade sale, as the company benefits from a growing apartment sector inGermany, The Australian reported.

The Daily DoseAsia-Pacific, Real Estate edition is updated by 6:30 a.m. Hong Kong time. Someexternal links may require a subscription. Articles and links are correct as ofpublication time.