Another global economic collapse coming soon?

[BuiKia]

SPH delays S$540 million REIT IPO: Sources

SINGAPORE – Publishing and property company Singapore Press Holdings (SPH) has delayed plans to list a real estate investment trust in a S$540 million initial public offering due to weak global markets, people with knowledge of the deal said on Monday, Dow Jones Newswires reported.

SPH had planned to start taking orders from institutional investors this week but the process has been pushed back, one of the people said. The company still plans to proceed with the deal at an opportune time, but delays to the order-taking means the REIT isn’t likely to list in early July as originally planned, another person said.

The move comes as jittery investors - fearful that the US Federal Reserve may soon scale back its stimulus programme - dump their equities holdings, particularly in emerging markets and dividend-paying investments such as REITs.

Responding to queries from The Wall Street Journal, an SPH spokesman said the company was “monitoring the market conditions and will make an announcement at the appropriate time.”

SPH delays S$540 million REIT IPO: Sources | TODAYonline

 

[erection2015]

i think they are going to launch it real soon.......



Dear Valued Clients,

We are pleased to announce the Initial Public Offering of SPH REIT on SGX-ST (the "IPO"). OCBC Bank is one of the three Joint Bookrunners for the IPO. The other two Joint Bookrunners are Credit Suisse and DBS. The sole global coordinator is Credit Suisse.

The draft prospectus of SPH REIT has been lodged with the MAS, URL as follows:-
http://masnet.mas.gov.sg/opera/sdrp...pera/sdrprosp.nsf/vewPublicLatestCIS?OpenView

Please see term sheet as attached:-




We are pleased to also announce that the order books for SPH REIT placement tranche is now open. Indicative book closure time/date is 12 noon on Tuesday, 16 July 2013 (subject to earlier closure). The final price for this IPO has not been determined but will be within the range of S$0.85 to S$0.90 per unit. We are only taking orders at strike price at $$0.90 per unit.


Best regards,

 

[erection2015]

Issuer: SPH REIT (the “REIT”)
Sponsor: Singapore Press Holdings (“SPH”), to hold ~70% in the REIT (post-shoe)
Manager: SPH REIT Management Pte. Ltd
Trustee: DBS Trustee Limited
Sole Global Coordinator: Credit Suisse
Joint Bookrunners: OCBC, Credit Suisse, DBS
Co-Lead Managers: CIMB, Nomura
Price Range: S$0.85 – 0.90 per unit
Distribution Yield:
5.58 – 5.79% FY2013 (August year-end)
5.79 – 6.00% FY2014 (August year-end)
5.65 – 5.86% CY2013
Float: 27.8% pre-shoe, 30.0% post-shoe(1)
Total Offering (incl. cornerstone): 559,884,000 units, 22.4% of the REIT
Base offering (ex-cornerstone):
308,884,000 units, 12.4% of the REIT comprising:
− 224,902,000 in the Placement Tranche (72.8% of Base offering, 9.0% of the REIT)
− 83,982,000 units in the Public Offer (27.2% of Base offering, 3.4% of the REIT )
Cornerstone tranche: 251,000,000 units by 5 investors, 10.0% of the REIT, 44.8% of Total Offering
Over-allotment: Up to 55,988,000 units, 18% of base offer size (ex-cornerstone) (100% secondary)
Over-allotment Provider: TPR Holdings Pte Ltd, wholly-owned subsidiary of the Sponsor
Deal Size (ex-cornerstone): S$263 – 278 million pre-shoe, S$310 – 328 million post-shoe
Issue Size (inc cornerstone): S$476 – 504 million pre-shoe, S$523 – 554 million post-shoe
Total outstanding units: 2,500,995,000
Listing: Singapore Stock Exchange (“SGX”)

 

[laksaboy]

LOL even SPH is getting involved in REITs. Their traditional publishing business must be languishing, and it is now hopping onto the rent-seeking bandwagon.

Expect even higher rents islandwide, and more businesses to close down.

 

[shctaw]

Hard to time a collapse. Everyone know market will collapse one day; but the million dollar question is which day?

Can never see a bubble. Once only notice the bubble on the day it burst.

My friend say property market will collapse since 2008; till today some landed properties have gone up 5-10 folds.

 

[eatshitndie]

the sg property market will collapse when the pap is no longer in power.

 

[tonychat]

Hard to time a collapse. Everyone know market will collapse one day; but the million dollar question is which day?

Can never see a bubble. Once only notice the bubble on the day it burst.

My friend say property market will collapse since 2008; till today some landed properties have gone up 5-10 folds.

your friend is a meat eater, that is why.

 

[shctaw]

Wrong; he is a stupid vegan.

your friend is a meat eater, that is why.

 

[laksaboy]

the sg property market will collapse when the pap is no longer in power.

Great time for bargain hunting, can't wait for it to happen soon enough.

 

[johnny333]

the sg property market will collapse when the pap is no longer in power.

Yes if the PAP loses power they will have to run road because many lesser mortals will be very angry with them. Once they find out there is very little left in the CPF, they will be even angrier

It may turn ugly & without their body guards I'm not sure that even in safe Spore, the PAP can go about unmolested

 

[watchman8]

LOL even SPH is getting involved in REITs. Their traditional publishing business must be languishing, and it is now hopping onto the rent-seeking bandwagon.

Expect even higher rents islandwide, and more businesses to close down.

Rents are already at limit of many businesses. High rent coupled with sudden clamp down on foreign workers is driving cost up really fast. We can expect office and retail rentals to drop for the next couple years.

 

[watchman8]

Yes if the PAP loses power they will have to run road because many lesser mortals will be very angry with them. Once they find out there is very little left in the CPF, they will be even angrier

It may turn ugly & without their body guards I'm not sure that even in safe Spore, the PAP can go about unmolested

How can there be insufficient money in CPF when most people are using CPF to finance their housing? You need to educate yourself more on fiat currency before sprouting nonsense.

SGD is paper money, and the amount of SGD can be infinite if the govt so wishes. Fiat currency is not like gold or silver that has an actual physical limited quantity.

 

[johnny333]

How can there be insufficient money in CPF when most people are using CPF to finance their housing? You need to educate yourself more on fiat currency before sprouting nonsense.

SGD is paper money, and the amount of SGD can be infinite if the govt so wishes. Fiat currency is not like gold or silver that has an actual physical limited quantity.

Even the americans can't print money without consequences i.e. depreciating the $US. PAP can print all the money they want but the real value of the SG$ will suffer.

 

[halsey02]

No worry all you need to do is to employ this fellow to sing it UP!! http://www.youtube.com/watch?v=CTMMRrxx-Ug

 

[singham]

i think in future, SGD will be pegged to RMB...just like current peg to Brunei...

Even the americans can't print money without consequences i.e. depreciating the $US. PAP can print all the money they want but the real value of the SG$ will suffer.

 

[johnny333]

i think in future, SGD will be pegged to RMB...just like current peg to Brunei...

The PAP will peg the SG$ to which ever currency that will benefit their self interests & not Spore.

If it appears that they will be kicked out of power, I suspect that they will be tempted to divest their SIN$ & move their fortune into Swiss$, pound,...

 

[po2wq]

i think in future, SGD will be pegged to RMB...just like current peg to Brunei...

pegged 2 ur rupee la ...

 

[singham]

serious lah...

pegged 2 ur rupee la ...

 

[Muthukali]

pegged 2 ur rupee la ...

You looking for moi rupees?

 

[Muthukali]

i think in future, SGD will be pegged to RMB...just like current peg to Brunei...

how, can abitrage from that? Sgd/ yuan , usd/yuan?