Company Briefs: Ascendas India Trust

Ascendas India Trust

Ascendas Property Fund Trustee , the trustee-manager of Ascendas India Trust (a-iTrust), has completed the acquisition of aVance 4 in the aVance Business Hub in Hyderabad, India. The price is expected to amount to $42.2 million. This includes a deferred-payment component for a vacant space, which will be made over the next 12 months in tranches based on leasing.

aVance 4 is an infocomm technology building with a total floor area of 390,000 sq ft. Anchor tenants include multinationals such as IBM India, Sears IT & Management Services India and Ebix Software.

A leasing commitment of 80.4 per cent has been attained and talks are ongoing with prospective tenants for the remaining space.

Imperium Crown

Catalist-listed property development and investment firm Imperium Crown has received letters of intent (LOIs) for the remaining two of its Japanese properties for a combined sale price of about $38.6 million. The firm is selling the properties to reallocate capital to new projects, and exploring opportunities to enter Australia and China.

Its Japanese portfolio consists of five properties in Tokyo. It had received LOIs for three of the properties in March. The latest LOIs bring the total sale price received for the entire portfolio to $80.4 million.

Imperium Crown has also been approached by investors seeking to partner it on potential projects, it said in a statement yesterday.

MoolahSense

Crowdfunding platform MoolahSense has launched an invoice-financing service on its platform to help small and medium-sized enterprises (SMEs) looking to raise short-term financing of more than $15,000.

SMEs can submit tax invoices for verification and receive from MoolahSense's registered investors a loan of up to 80 per cent of the invoice amount.

The tenure for such invoice-supported loans typically ranges from 15 to 90 days, maturing on the payment due date of the invoice.

To qualify, SMEs must have tax invoices with fixed payment terms of 15 to 90 days from their customers. They must be Singapore-registered companies or limited- liability partnerships, and have an annual revenue of at least $100,000 and at least 12 months' operating history.

A version of this article appeared in the print edition of The Straits Times on April 12, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe