Happy Friday!
- Pic from Internet
- wong chee tat :)
Friday, 3 November 2017
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Jumping Dust Balls?
Jumping Dust Balls?
Seriously??? ...
Should I start reaching out to hard to clean corners?
- Pic from Internet
- wong chee tat :)
UOB nominates Wong Kan Seng to succeed Hsieh Fu Hua as chairman
UOB nominates Wong Kan Seng to succeed Hsieh Fu Hua as chairman
02 Nov 2017 06:57PM (Updated: 02 Nov 2017 07:35PM)
SINGAPORE: United Overseas Bank (UOB) announced on Thursday (Nov 2) that former deputy prime minister Wong Kan Seng has been nominated to succeed incumbent independent non-executive chairman Mr Hsieh Fu Hua, 67, who will be retiring next year.
Mr Wong, who is 71, joined UOB’s board on July 27.
UOB also said that chairman emeritus Dr Wee Cho Yaw will retire from the board after six decades of service, the bank said in a press release.
The board changes are part of the bank’s ongoing renewal and succession plan, UOB said.
Dr Wee, who turns 89 next January, will relinquish all his board responsibilities at the bank’s annual general meeting in April next year.
He will retain his chairman emeritus title and will also be appointed honorary adviser to the board in recognition of his many years of leadership and contribution to the group.
Dr Wee is “one of Singapore’s legendary entrepreneurs who has made immense contributions to the development of the banking industry,” UOB said.
“Under his leadership, UOB expanded greatly, both in scale and scope. It grew from a single branch local bank to a major regional player with more than 500 offices in 19 countries and territories ... Dr Wee also guided the bank through several international and regional financial and economic crises, all the while entrenching a culture based on values of thrift, prudence and vigilance.”
Mr Hsieh is the first chairman of the bank from outside the Wee family and would have served six years on the board when he steps down on 14 February 2018. Until then, Mr Hsieh will continue to chair the board to oversee matters pertaining to the group’s current financial year, UOB said.
Mr Wong’s appointment is subject to regulatory approval.
Source: CNA/aj
Read more at http://www.channelnewsasia.com/news/business/uob-nominates-wong-kan-seng-to-succeed-hsieh-fu-hua-as-chairman-9369546
- wong chee tat :)
02 Nov 2017 06:57PM (Updated: 02 Nov 2017 07:35PM)
SINGAPORE: United Overseas Bank (UOB) announced on Thursday (Nov 2) that former deputy prime minister Wong Kan Seng has been nominated to succeed incumbent independent non-executive chairman Mr Hsieh Fu Hua, 67, who will be retiring next year.
Mr Wong, who is 71, joined UOB’s board on July 27.
UOB also said that chairman emeritus Dr Wee Cho Yaw will retire from the board after six decades of service, the bank said in a press release.
The board changes are part of the bank’s ongoing renewal and succession plan, UOB said.
Dr Wee, who turns 89 next January, will relinquish all his board responsibilities at the bank’s annual general meeting in April next year.
He will retain his chairman emeritus title and will also be appointed honorary adviser to the board in recognition of his many years of leadership and contribution to the group.
Dr Wee is “one of Singapore’s legendary entrepreneurs who has made immense contributions to the development of the banking industry,” UOB said.
“Under his leadership, UOB expanded greatly, both in scale and scope. It grew from a single branch local bank to a major regional player with more than 500 offices in 19 countries and territories ... Dr Wee also guided the bank through several international and regional financial and economic crises, all the while entrenching a culture based on values of thrift, prudence and vigilance.”
Mr Hsieh is the first chairman of the bank from outside the Wee family and would have served six years on the board when he steps down on 14 February 2018. Until then, Mr Hsieh will continue to chair the board to oversee matters pertaining to the group’s current financial year, UOB said.
Mr Wong’s appointment is subject to regulatory approval.
Source: CNA/aj
Read more at http://www.channelnewsasia.com/news/business/uob-nominates-wong-kan-seng-to-succeed-hsieh-fu-hua-as-chairman-9369546
- wong chee tat :)
Namo Amitabha Buddha
Namo Amitabha Buddha
Namo Amitabha Buddha
Namo Amitabha Buddha
- Pic from Internet
- wong chee tat :)
Thursday, 2 November 2017
Keppel-KBS US Reit registers IPO prospectus
Keppel-KBS US Reit registers IPO prospectus
THU, NOV 02, 2017 - 5:59 PM
LYNETTE KHOOlynkhoo@sph.com.sg@LynetteKhooBT
KEPPEL-KBS US Reit has registered its prospectus for its initial public offering (IPO) with the Monetary Authority of Singapore, which will raise gross proceeds of US$553.1 million.
It is offering 262.77 million shares at 88 US cents apiece.
The offering consists of an international placement of 228.68 million units to investors outside the US ,and an offering of 34.09 million units to the Singapore public.
Separately, the cornerstone investors have agreed to subscribe for 246.37 million units, while the joint sponsors - who own the real estate investment trust (Reit) manager - are subscribing for some 119.43 million units at the offer price.
Backed by Keppel Capital and KBS Pacific Advisors as joint sponsors, Keppel-KBS US Reit's initial portfolio comprises 11 freehold office properties valued at US$829.4 million in seven growth cities in the US.
SEE ALSO: Keppel-KBS US Reit to raise gross proceeds of US$553m
"Keppel-KBS US Reit offers unitholders a strong and unique value proposition of attractive distributions with strong visible organic growth," said David Snyder, CEO and chief investment officer of the Reit manager.
"Driving this positive momentum is the favourable outlook in the office real estate sector, especially in key markets where the properties comprising Keppel-KBS US Reit's IPO portfolio are located. These are markets where economic, population and employment growth have exceeded and is projected to continue to expand above the US national average, and where asking rents for office spaces are expected to see a continued upward trend."
Christina Tan, CEO of Keppel Capital, the asset management arm of Keppel Corporation, said that the listing of Keppel-KBS US Reit is part of Keppel's aim to grow its fund management business, expand its geographic footprint into the stable US market, and tap growing demand by global investors for attractive US real estate investments.
"The Reit will be able to draw on Keppel Capital's expertise in the management of listed Reits and strong relationships with Asian investors, as well as KBS' established investment and asset management experience in US commercial real estate," Ms Tan said.
Keppel-KBS US Reit's distribution yield for 2018 is estimated to be 6.8 per cent, with an expected distribution yield of 7.2 per cent for 2019, reflecting a total return of 12.6 per cent.
The Reit's yield growth is driven by built-in rental escalations ranging from 2-3 per cent for about 97.5 per cent of the portfolio leases, the opportunity to renew expiring leases at potentially higher market rent rates, as well as potential growth in portfolio occupancy.
The pipeline of potential acquisitions will come from third-party vendors through the sponsors' deal origination capabilities.
Keppel-KBS US Reit has a distribution policy to pay out 100 per cent of its annual distributable income from the listing date to the end of 2019. It will subsequently distribute at least 90 per cent of annual distributable income on a semi-annual basis.
Distributions will be declared in US dollars, and unitholders will receive distributions in Singapore dollars, equivalent to the US dollar distribution declared. Unitholders can also choose to receive their distribution in US dollars.
Good to buy? What are your thoughts?
- wong chee tat :)
THU, NOV 02, 2017 - 5:59 PM
LYNETTE KHOOlynkhoo@sph.com.sg@LynetteKhooBT
KEPPEL-KBS US Reit has registered its prospectus for its initial public offering (IPO) with the Monetary Authority of Singapore, which will raise gross proceeds of US$553.1 million.
It is offering 262.77 million shares at 88 US cents apiece.
The offering consists of an international placement of 228.68 million units to investors outside the US ,and an offering of 34.09 million units to the Singapore public.
Separately, the cornerstone investors have agreed to subscribe for 246.37 million units, while the joint sponsors - who own the real estate investment trust (Reit) manager - are subscribing for some 119.43 million units at the offer price.
Backed by Keppel Capital and KBS Pacific Advisors as joint sponsors, Keppel-KBS US Reit's initial portfolio comprises 11 freehold office properties valued at US$829.4 million in seven growth cities in the US.
SEE ALSO: Keppel-KBS US Reit to raise gross proceeds of US$553m
"Keppel-KBS US Reit offers unitholders a strong and unique value proposition of attractive distributions with strong visible organic growth," said David Snyder, CEO and chief investment officer of the Reit manager.
"Driving this positive momentum is the favourable outlook in the office real estate sector, especially in key markets where the properties comprising Keppel-KBS US Reit's IPO portfolio are located. These are markets where economic, population and employment growth have exceeded and is projected to continue to expand above the US national average, and where asking rents for office spaces are expected to see a continued upward trend."
Christina Tan, CEO of Keppel Capital, the asset management arm of Keppel Corporation, said that the listing of Keppel-KBS US Reit is part of Keppel's aim to grow its fund management business, expand its geographic footprint into the stable US market, and tap growing demand by global investors for attractive US real estate investments.
"The Reit will be able to draw on Keppel Capital's expertise in the management of listed Reits and strong relationships with Asian investors, as well as KBS' established investment and asset management experience in US commercial real estate," Ms Tan said.
Keppel-KBS US Reit's distribution yield for 2018 is estimated to be 6.8 per cent, with an expected distribution yield of 7.2 per cent for 2019, reflecting a total return of 12.6 per cent.
The Reit's yield growth is driven by built-in rental escalations ranging from 2-3 per cent for about 97.5 per cent of the portfolio leases, the opportunity to renew expiring leases at potentially higher market rent rates, as well as potential growth in portfolio occupancy.
The pipeline of potential acquisitions will come from third-party vendors through the sponsors' deal origination capabilities.
Keppel-KBS US Reit has a distribution policy to pay out 100 per cent of its annual distributable income from the listing date to the end of 2019. It will subsequently distribute at least 90 per cent of annual distributable income on a semi-annual basis.
Distributions will be declared in US dollars, and unitholders will receive distributions in Singapore dollars, equivalent to the US dollar distribution declared. Unitholders can also choose to receive their distribution in US dollars.
Good to buy? What are your thoughts?
- wong chee tat :)
Blog Updates: Minor updates:
Blog Updates: Minor updates:
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Will continue to make minor improvements for this blog!
- wong chee tat :)
- Update labels
Will continue to make minor improvements for this blog!
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
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