SINGAPORE - Catch up on the morning's top business headlines in Singapore with The Straits Times Money Desk's daily update.
1. Parkway Life Reit raises Q1 distribution per unit by 6.9 per cent. The higher payment of 2.82 cents per unit is mainly due to acquisitions made by the Reit last year and growth in rents of its existing properties.
2. First-quarter net profit falls 46.7 per cent for Millennium & Copthorne (M&C) Hotels. The London-based hotel arm of Singapore-listed property developer City Developments saw its revenue dip 0.3 per cent to 175.3 million pounds in the first three months of the year, partly due to the strength of the British pound.
3. Private equity firm KKR & Co is seeking to attract investors with a new fund that accepts commitments as low as US$10,000 (S$12,525). Shares of its fund will be sold to accredited investors, who have a net worth of US$1 million excluding the value of a primary residence, or an individual annual income over US$200,000.