Company Briefs: SMRT Corp


SMRT will hold an extraordinary general meeting on Sept 29 for shareholders to vote on the sale of operating assets, including those of the North-South, East-West and Circle lines, as part of the New Rail Financing Framework.

The meeting will begin at 2.30pm at The Star Performing Arts Centre.

SMRT also said that it has appointed Rothschild (Singapore) as independent financial adviser to the independent directors.

This relates to the proposed offer by Temasek Holdings for the SMRT shares that it does not own. The date for a meeting on this matter has not been announced yet.

Mapletree Greater China Commercial Trust

Mapletree Greater China Commercial Trust (MGCCT) Management said yesterday that distributable income for the first quarter to June 30 rose 10.6 per cent from the same period a year ago to $51.3 million.

Available distribution per unit grew 9.1 per cent from a year ago to 1.85 cents.

Net property income rose 11.2 per cent year on year to $69.4 million, partly due to the trust's acquisition of the Sandhill Plaza business park in Shanghai in June last year and growth from Festival Walk, a retail and office complex in Hong Kong.

"Demand for MGCCT Group's three high-quality and well-located properties is expected to remain resilient, bringing stability to the portfolio's rental income," the trust's manager said.

Despite the weaker retail environment, Festival Walk enjoys full occupancy, the manager said, while Sandhill Plaza is expected to benefit from an increase in demand for business park space.

It is continuing marketing and leasing efforts to achieve high occupancy at its third property, the Gateway Plaza office building in Beijing.

Roxy-Pacific Holdings

Property and hospitality firm Roxy-Pacific reported a 53 per cent rise in net profit for the second quarter from a year ago to $19.9 million. This was mainly due to a fair value gain on an investment property and a rise in the share of results of associates.

Revenue for the three months to June 30 edged up 5 per cent from the same period a year ago to $98.4 million.

Earnings per share rose to 1.67 cents as at June 30, from 1.09 cents a year before.

Net asset value grew to 39.41 cents a share at June 30, from 38.34 cents as at Dec 31 last year.

A version of this article appeared in the print edition of The Straits Times on July 30, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe