Company Briefs: Thakral Corp

Thakral Corp

Mainboard-listed Thakral Corp has acquired two new investment properties, the R Hotels Inn Osaka Kita Umeda and the Namba retail redevelopment site in Osaka.

The investment will be made through its vehicle, Thakral Japan Properties, in which the group holds a 50 per cent stake. Its existing portfolio in Japan includes two office buildings and the Best Western Osaka Tsukamoto Hotel.

Thanks to its early entry into the market, the group has been able to "enjoy the uplift in the capital values of the existing investments", which have given it access to additional funding and enabled it to grow the portfolio further, it said.

The 120-room R Hotels Inn Osaka Kita Umeda was recently been refurbished for 500 million yen (S$6 million). The Namba retail redevelopment site is in the heart of Osaka's retail district and has a gross area of about 237 sq m. There are plans to develop a three-storey retail building on the site for about 300 million yen, which has been pre-leased to one of the leading retail chains in Japan.

Keppel T&T

Mainboard-listed Keppel Telecommunications & Transportation (Keppel T&T) has started a strategic review of its logistics portfolio in China.

The Keppel Corporation unit told the Singapore Exchange yesterday that the move aims "to optimise and focus resources" in the urban logistics area.

Keppel T&T's logistics division has been weighed down of late. That segment posted a net loss of $2.39 million in the nine months to Sept 30, in part to weaker warehouse revenue.

Singapore Exchange

There will be no change to the constituents of the Straits Times Index (STI), following the December quarterly review, according to a joint statement yesterday from the Singapore Exchange, Singapore Press Holdings and FTSE Russell.

The STI reserve list, comprising the five highest ranking non-constituents of the STI by market capitalisation, will be (in order of size) Venture Corp, Suntec REIT, Mapletree Commercial Trust, Keppel Reit and Sembcorp Marine.

Companies on the reserve list will replace any constituents that become ineligible as a result of corporate actions, before the next review, which will take place in March next year.

A version of this article appeared in the print edition of The Straits Times on December 01, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe