CapitaLand Mall Trust
CapitaLand Mall Trust's (CMT) distribution per unit rose 1.3 per cent to 3.1 cents for its third quarter ended Sept 30, from 3.06 cents a year ago.
For the third quarter this year, CMT's gross revenue tumbled 25.3 per cent to $150.3 million, from $201.1 million a year earlier.
This was mainly due to rental waivers of $29.5 million granted to tenants affected by Covid-19, as well as lower gross turnover and other income, the manager said yesterday.
Net property income fell 27.6 per cent on the year to $104.4 million for the quarter, from $144.2 million. Distributable income was up 1.1 per cent year on year to $114.3 million, from $113 million.
Unit holders can expect to receive the distribution on Nov 19.
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Suntec Reit
Suntec Real Estate Investment Trust's (Suntec Reit) distribution per unit fell 21.9 per cent to 1.848 cents for its third quarter ended Sept 30, from 2.365 cents a year ago.
This came as distributable income from operations dropped 12.6 per cent year on year to $52.2 million, from $59.7 million.
This was due to the absence of contribution from Suntec Singapore and one-off compensation received at Marina Bay Financial Centre properties.
It was mitigated by the better performance from the Australia office portfolio and of One Raffles Quay, and lower financing costs, the Reit manager said yesterday.
Gross revenue was down 13.4 per cent to $79.6 million for the quarter, from $91.9 million a year ago. Net property income fell 19 per cent on the year to $47.3 million for the quarter, from $58.4 million.
The distribution will be paid out on Nov 25.
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Ant Group
Alibaba Group Holding has agreed to subscribe to more than a fifth of Ant Group's imminent initial public offering (IPO), propping up the potential US$35 billion (S$48 billion) debut of its part-owned fintech giant.
Asia's largest corporation will buy 730 million of about 1.67 billion Shanghai-listed A shares as part of a placement to strategic investors, the e-commerce giant said yesterday.
Including the Hong Kong tranche of its IPO, Ant intends to sell a total of 3.3 billion shares.
The financial services giant plans to issue about 1.16 billion Hong Kong-listed, or H, shares to Alibaba, part of a distribution of about 3.26 billion shares to existing backers.
BLOOMBERG
Tesla
Tesla on Wednesday said profits in the past quarter more than doubled as the electric car giant forecast deliveries hitting 500,000 this year.
Net profit in the quarter rose to US$331 million (S$449 million), up from US$143 million a year earlier, as revenue rose nearly 40 per cent to US$8.7 billion.
Tesla's share price was up more than 3 per cent in after-hours trade on the results.
The company delivered 139,000 vehicles in the past quarter, amid strong growth in its Model 3 car, the least expensive in its line-up.
AGENCE FRANCE-PRESSE
Grab
Technology firm Grab has seen a third-quarter group revenue that is more than 95 per cent of that of pre-Covid-19 levels, the Singapore-based firm's president Ming Maa said in an e-mailed newsletter.
Grab's food business in particular now generates more than 50 per cent of revenue.
In June, the firm, which has yet to turn a profit, laid off about 360 employees, or close to 5 per cent of its headcount.
Currently, it has more than 270 openings across the region listed on its careers portal.
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