MapleTree NAC Trust
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Paul Lee
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Not exactly 70% but still pretty high at ard 61.9%
1H Gross Revenue: S$210 mil
1H FW Revenue: S$130 mil
SOURCE: Mapletree North Asia Commercial Trust 1H Presentation
What has this got to do with festival walk?
Mochichu8285
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Only 80 for elite police
Not much use wor
Not much use wor
Mochichu8285
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Paul Lee
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But it won't be totally zero for the moment since all the tenants are on a lease and they are still obligated to pay rent regardless of the situation.
If the protests and chaos dragged on, then some will be forced to close, break lease etc.
And if MNACT can't find replacement tenants, then FW occupancy will take a hit and only then will HK revenue goes down. Even then, it would not be zero unless the whole complex gets destroyed.
endlssorrow
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When the mall get zero tenants then u see get zero anot lor
bondskyfall
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SURE , IN 2047 WHEN CHINA TAKEOVER .
Did you manage to buy any decent HK stocks - 20 to 50% off recently?
Just look at the performance of Hang Seng or HK property price even as the havoc is going on.
Even Alimama is willing to do a secondary listing there.
Just look at the performance of Hang Seng or HK property price even as the havoc is going on.
Even Alimama is willing to do a secondary listing there.
Massive announcement, highlights only:
UPDATE ON FESTIVAL WALK AND IMPACT ON MNACT
...There are major recovery and repair works to be carried out on multiple levels and locations within the mall. These include repairs and/or replacements to the glass entrances, glass curtain walls, portion of the skylight, escalators, lifts, and glass balustrades along the common areas. All efforts are being made to re-open the mall as soon as possible and we are working closely with our consultants and contractors to re-open, either partially or fully, in the first quarter of calendar year 2020.... With the mall closure, rental from the retail tenants at Festival Walk (the “Festival Walk Retail Revenue”) will not be collected over the duration that the mall remains closed.
For the office tower, it was closed from 13 to 25 November 2019 due to damage sustained at the office lobby. Rental was not collected from the office tenants during the aforementioned period. Since 26 November 2019, the office tower has re-opened and rental collection from the office tenants has also resumed.
Impact on MNACT’s Distribution Policy
Subject to the quantum of revenue loss recoverable and until such time the same is received by MNACT and payable to Unitholders, MNACT’s distribution per Unit (“DPU”) for the six-month period from 1 October 2019 to 31 March 2020 (“2H FY19/20”) is expected to be significantly lower compared to the same period last year (“2H FY18/19”) and the six-month period from 1 April 2019 to 30 September 2019 (“1H FY19/20”).
To mitigate the above impact on the distributable income payable to Unitholders, the Manager will implement a top-up to the distributable income... to enable a certain level of distributable income to be made until such time the loss of revenue is recovered through the insurance claims... based on approximately 40% of the Festival Walk Retail Revenue...
Proposed Acquisitions to Reduce the Income and Asset Concentration of Festival Walk and Accelerate Income Diversification of MNACT
To reduce the income and asset concentration of Festival Walk and accelerate the income diversification of MNACT, the Manager has announced the proposed acquisition of two office properties in Greater Tokyo (the “Proposed Acquisitions”) on 4 December 2019.
Distribution Reinvestment Plan (“DRP”)
As part of the Manager’s proactive capital management efforts to maintain an optimal overall aggregate leverage for MNACT, the Manager will be applying for the DRP for MNACT’s distribution for the quarter starting from 1 October 2019 to 31 December 2019.
https://links.sgx.com/FileOpen/MNACT - Annc on FW_4Dec2019.ashx?App=Announcement&FileID=589438
UPDATE ON FESTIVAL WALK AND IMPACT ON MNACT
...There are major recovery and repair works to be carried out on multiple levels and locations within the mall. These include repairs and/or replacements to the glass entrances, glass curtain walls, portion of the skylight, escalators, lifts, and glass balustrades along the common areas. All efforts are being made to re-open the mall as soon as possible and we are working closely with our consultants and contractors to re-open, either partially or fully, in the first quarter of calendar year 2020.... With the mall closure, rental from the retail tenants at Festival Walk (the “Festival Walk Retail Revenue”) will not be collected over the duration that the mall remains closed.
For the office tower, it was closed from 13 to 25 November 2019 due to damage sustained at the office lobby. Rental was not collected from the office tenants during the aforementioned period. Since 26 November 2019, the office tower has re-opened and rental collection from the office tenants has also resumed.
Impact on MNACT’s Distribution Policy
Subject to the quantum of revenue loss recoverable and until such time the same is received by MNACT and payable to Unitholders, MNACT’s distribution per Unit (“DPU”) for the six-month period from 1 October 2019 to 31 March 2020 (“2H FY19/20”) is expected to be significantly lower compared to the same period last year (“2H FY18/19”) and the six-month period from 1 April 2019 to 30 September 2019 (“1H FY19/20”).
To mitigate the above impact on the distributable income payable to Unitholders, the Manager will implement a top-up to the distributable income... to enable a certain level of distributable income to be made until such time the loss of revenue is recovered through the insurance claims... based on approximately 40% of the Festival Walk Retail Revenue...
Proposed Acquisitions to Reduce the Income and Asset Concentration of Festival Walk and Accelerate Income Diversification of MNACT
To reduce the income and asset concentration of Festival Walk and accelerate the income diversification of MNACT, the Manager has announced the proposed acquisition of two office properties in Greater Tokyo (the “Proposed Acquisitions”) on 4 December 2019.
Distribution Reinvestment Plan (“DRP”)
As part of the Manager’s proactive capital management efforts to maintain an optimal overall aggregate leverage for MNACT, the Manager will be applying for the DRP for MNACT’s distribution for the quarter starting from 1 October 2019 to 31 December 2019.
https://links.sgx.com/FileOpen/MNACT - Annc on FW_4Dec2019.ashx?App=Announcement&FileID=589438
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The Proposed Acquisitions of Two Office Properties in Greater Tokyo
Accelerates the income diversification of MNACT
Reduces income and asset concentration of Festival Walk
Provides attractive yield spread (based on net property income (“NPI”) yield of 4.5%) and freehold land tenure
...to acquire an effective interest of 98.47% in two freehold, multi-tenanted office properties located in Greater Tokyo, Japan (collectively, the “Properties” and the proposed acquisitions by MNACT of the 98.47% effective interest in the Properties, the “Proposed Acquisitions”) from Mapletree Investments Pte Ltd (“MIPL” or the “Sponsor”), subject to various conditions precedent being met, for the Total Acquisition Cost of S$482.5 million (approximately JPY37,905.2 million).
Press release: https://links.sgx.com/FileOpen/MNACT_AcqPressRelease_4Dec2019.ashx?App=Announcement&FileID=589441
Funding is to be by issuing new units to the sponsor Mapletree (S$145.5m) and debt financing or internal resources (S$337m). Manager will waive the acquisition fee.
Accelerates the income diversification of MNACT
Reduces income and asset concentration of Festival Walk
Provides attractive yield spread (based on net property income (“NPI”) yield of 4.5%) and freehold land tenure
...to acquire an effective interest of 98.47% in two freehold, multi-tenanted office properties located in Greater Tokyo, Japan (collectively, the “Properties” and the proposed acquisitions by MNACT of the 98.47% effective interest in the Properties, the “Proposed Acquisitions”) from Mapletree Investments Pte Ltd (“MIPL” or the “Sponsor”), subject to various conditions precedent being met, for the Total Acquisition Cost of S$482.5 million (approximately JPY37,905.2 million).
Press release: https://links.sgx.com/FileOpen/MNACT_AcqPressRelease_4Dec2019.ashx?App=Announcement&FileID=589441
Funding is to be by issuing new units to the sponsor Mapletree (S$145.5m) and debt financing or internal resources (S$337m). Manager will waive the acquisition fee.
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Raging_Cajun
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Finally price droping
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