Key Developments: CapitaMalls Asia Ltd (CMAL.SI)
13 Dec 2013
Latest Key Developments (Source: Significant Developments)
CapitaMalls Asia Ltd announced that its wholly-owned subsidiary, CAI, has on November 19, 2013 entered into a conditional agreement with Greenland Real Estate to acquire the second phase of the retail component of Baiyun Greenland Centre, an integrated development located at the junction of Yuncheng West Road and Qixin Road within the core commercial centre of Baiyun New Town in Baiyun District, Guangzhou, PRC (the Property). The latest valuation of the Property as at November 19, 2013, commissioned by CMA and conducted by CBRE Pte. Ltd., is CNY2,200.0 million (approximately SGD444.1 million). The valuation is based on accepted valuation procedures and practices. Taking into account the above valuation, the purchase consideration payable to Greenland Real Estate for the Acquisition is CNY2,191.4 million (approximately SGD442.4 million). The purchase consideration will be funded in cash. The Acquisition is expected to be completed by the fourth quarter of 2014. Full Article
CapitaMalls Asia Ltd announced the establishment of the following wholly-owned subsidiary incorporated in Singapore as part of its ongoing business development: CMA Asset Investment Pte. Ltd with Share Capital of SGD1 (approximately HKD6.25) comprising 1 ordinary share and with principal activity of Investment Holding. Full Article
CapitaMalls Asia Ltd announced that no dividend has declared or paid during the third quarter 2013. Full Article
CapitaMalls Asia Ltd announced that it is voluntarily liquidating two dormant wholly-owned subsidiaries incorporated in Japan namely CapitaRetail CK Tokutei Mokuteki Kaisha and CMA Japan Trust One Godo Kaisha. Full Article
CapitaMalls Asia Ltd And Sime Darby Property Begin Construction Of Melawati Mall Located North East Of Kuala Lumpur
CapitaMalls Asia Ltd and Sime Darby Property announced that it has commenced construction of their shopping mall located on prime commercial land in the Taman Melawati commercial area. The shopping mall, named Melawati Mall, is set to become a lifestyle city shopping complex north east of Kuala Lumpur when it is completed in end 2016. Under a 50:50 joint venture, CapitaMalls Asia and Sime Darby Property are developing Melawati Mall into an eight-storey shopping mall with a net lettable area of about 620,000 square feet (sq ft). Positioned as a one-stop retail and lifestyle destination, Melawati Mall aspires to bring the city shopping experience, with its comprehensive and fashionable offerings, to the residents of Melawati township and nearby towns. When it is completed, the mall, fronting the Middle Ring Road 2 (MRR2), will serve an estimated 800,000 people within a 15- minute drive. The total development cost is expected to be about RM670.0 million (SGD257.8 million / HKD1,568.3 million). Full Article
CapitaMalls Asia Ltd's Subsidiary Announces Subscription Of 50% Stake In Yorkshire Investments (3) Pte. Ltd. And Yorkshire Investments (6) Pte. Ltd.
CapitaMalls Asia Limited announced that its wholly-owned subsidiary, CMA Singapore Investments (7) Pte. Ltd. (CMASI7), has subscribed for and been allotted one ordinary share in the issued and paid up share capital in each of Yorkshire Investments (3) Pte. Ltd. (YI3PL) and Yorkshire Investments (6) Pte. Ltd. (YI6PL) for a cash consideration of SGD1 each (collectively, the “Subscription”) as part of its ongoing business development. Both YI3PL and YI6PL are investment holding companies incorporated in Singapore. The one ordinary share held by CMASI7 in each of YI3PL and YI6PL represents 50% of the total issued and paid up share capital in YI3PL and YI6PL. The remaining 50% issued and paid up share capital in each of YI3PL and YI6PL is held by a wholly-owned subsidiary of CapitaLand Limited (“CL”). Following the Subscription, YI3PL and YI6PL have become associated companies of CMA. Full Article
CapitaMalls Asia Ltd announced that the Directors have approved an interim dividend of 1.75 cents per share for the period ended June 30, 2013 on July 23, 2013. The dividend will be payable on September 12, 2013, and the books closes on September 2, 2013. Full Article
CapitaMalls Asia Ltd announced that it has won a tender to acquire Grand Canyon Mall in Beijing, China, from Capital Airport Real Estate Group Co,Ltd. The acquisition is subject to the approval of the Chinese government. CMA won the tender at a price of RMB1.74 billion (SGD356.6 million / HKD2.18 billion). Including acquisition-related expenses, the total investment for the mall is expected to be about RMB1.82 billion (SGD373.0 million / HKD2.28 billion), or about RMB26,000 (SGD5,329 / HKD32,641) per square metre (sq m)based on total gross floor area (GFA), excluding car park. Full Article
CapitaMalls Asia Ltd announced that its dormant wholly owned subsidiary, Retail RECM (BVI) Ltd (Retail RECM (BVI)), an investment holding company incorporated in the British Virgin Islands, has been struck off from the BVI Government Register pursuant to Section 213(1)(c) of the BVI Business Companies Act, 2004. Full Article
CapitaMalls Asia Ltd announced that its dormant wholly-owned subsidiary, Plaza Singapura (Private) Limited (PSPL), an investment holding company, had upon its application and as subsequently notified in the Government Gazette notification dated May 09, 2013, been struck off the Register of Companies pursuant to Section 344(4) of the Companies Act, Cap. 50, with effect from May 06, 2013. Full Article
SINGAPORE, Nov 20 - CapitaMalls Asia Ltd said it has agreed to buy a shopping mall in Guangzhou for 2.2 billion yuan ($361 million) in the Singapore property developer's first foray into one of the largest and most prosperous cities in China.