08 August 2020

THE BUSINESS TIMES - Find latest business and financial news including analysis and opinion on top business stories, stock markets in Singapore, Asia-Pacific and global market news and more at The Business Times.

• CapitaLand under continued business pressure, but looking for growth openings

  WHILE CapitaLand expects continued pressure on its business in H2 2020 amid the ongoing pandemic, it is cautiously optimistic that the worst is over and is on the lookout for counter-cyclical opportunities to bolster growth.

• Prime US Reit posts H1 DPU of 3.52 US cents, up 5.1% from forecast

  PRIME US Reit's distribution per unit (DPU) stood at 3.52 US cents for its first half ended June 30, 2020, 5.1 per cent higher than its initial public offering (IPO) forecast of 3.35 cents.

• Broker's take: KGI downgrades ARA H-Trust to 'neutral' on slower recovery

  KGI Securities has downgraded ARA US Hospitality Trust (ARA H-Trust) to "neutral" with a lowered target price of US$0.40 from US$0.67.

• Far East Orchard sinks into S$853,000 net loss for first half

  HOTEL operator and property developer Far East Orchard has fallen into the red with a S$853,000 net loss for the half year ended June 30, 2020, versus a net profit of S$5.8 million a year ago. (see amendment note)

• CapitaLand H1 profit plunges 89% to S$96.6m on Covid-19 restrictions, tenant support

  CAPITALAND posted an 89 per cent drop in net profit to S$96.6 million for the six months ended June 30, 2020 from S$875.4 million a year ago.

• Prime US Reit posts H1 DPU of 3.52 US cents, 5.1% above forecast

  PRIME US Reit's distribution per unit (DPU) stood at 3.52 US cents for its first half ended June 30, 2020, 5.1 per cent higher than its initial public offering (IPO) forecast of 3.35 cents.

• JustCo to open two co-working centres in Singapore

  JUSTCO's new co-working centres at OCBC Centre East and The Centrepoint will be able to house over 2,000 members when they open in August and October respectively.