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This has jumped quite alot the past few days. Why?
Prime US Reit manager appoints Harmeet Singh Bedi as deputy CEO, CFO
TUE, MAY 19, 2020 - 3:02 PMTHE manager of Prime US Reit has appointed Harmeet Singh Bedi as its new deputy chief executive officer (CEO) and chief financial officer (CFO), it said in a bourse filing on Tuesday.
He will report directly to Barbara Cambon, who is CEO of the real estate investment trust' s manager, KBS US Prime Property Management.
The appointment will take effect within the next few weeks upon completion of his exit from his current role as CEO of Maybank Kim Eng Singapore.
Mr Bedi has 29 years of investment and commercial banking experience in Singapore, Hong Kong and India. Before his current position at Maybank Kim Eng, he spent over 20 years at UBS, Merrill Lynch, Deutsche Bank and JPMorgan across a variety of senior investment banking roles involving capital raising and advisory work for corporates across the region.
In his new role, he will be supporting the execution of the Reit' s overall growth strategies while helming the finance and investor relations functions, its manager said.
Mr Bedi' s finance responsibilities will cover the formulation and execution of the Reit' s financial strategies, capital raising and capital management, financial risk management, treasury, tax and financial reporting. He will also help to enhance the Reit' s investor engagement across institutional, high net worth and retail investors in the region.
The Reit' s manager said its board and nominating and remuneration committee will monitor Mr Bedi' s double-hatting arrangement annually.
The committee " views that (Mr Bedi' s) appointment is in the interest of Prime and the manager having regard to his scope of responsibilities, and that there are proper and effective checks and balances in the manager' s internal controls" , it added.
Ms Cambon said Mr Bedi would be a valuable addition to the team, given his extensive experience in overseeing capital market and investment strategies.
Units of Prime US Reit were trading at 71 US cents, up 1.5 cent or 2.2 per cent, as at 2.20pm on Tuesday after the announcement.
https://www.businesstimes.com.sg/companies-markets/prime-us-reit-manager-appoints-harmeet-singh-bedi-as-deputy-ceo-cfo
Prime US Reit seeking assets in growing job markets
MON, MAR 30, 2020 - 5:50 AMFOR property veteran Barbara Cambon, buildings are not just a heap of bricks and concrete. Instead, they are dynamic structures where people learn, work, play and dream.
" Real estate is viewed as solid structures, but we must also understand the dynamism and diversity that goes on within...
https://www.businesstimes.com.sg/companies-markets/prime-us-reit-seeking-assets-in-growing-job-markets
The Private Placement Offer Price of around 94 US Cts (median) is too deep a discount vs the last close price of USD 1.02. This is not very good !
no wonder the share price has been strong recently - included in the MSCI small cap index
https://www.businesstimes.com.sg/companies-markets/prime-us-reit-included-in-msci-singapore-small-cap-index
https://www.businesstimes.com.sg/companies-markets/prime-us-reit-included-in-msci-singapore-small-cap-index
I' m afraid the reason for SPH buying all these assets, going into old-age care and student accomodation businesses and finally setting up a REIT is because of SPH' s core business not being able to be saved anymore. Since that ship is sinking, SPH is trying to find another ship or ships. This is. of course, a very natural thing to do, rather than let her shareholders die a slow death.
guavaMoment ( Date: 23-Jul-2019 08:22) Posted:
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Same mgt = same poor decision making
I suppose the highly paid executives at SPH must know what they are doing. But then again, SPH results have sucked badly lately too.......
ysh2006 ( Date: 22-Jul-2019 18:58) Posted:
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SPH buy big volume last week at IPO price from market.
Starship ( Date: 22-Jul-2019 15:45) Posted:
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An evil shortie like to go around rating my gifs as not useful..........
Starship ( Date: 21-Jul-2019 12:57) Posted:
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Whatever the case, any intervention, worse is if ' under table' is by ang moh' s own definition " currency amnipulation" .
pasttime ( Date: 21-Jul-2019 08:09) Posted:
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This stock SPH buy alot last week.
Starship ( Date: 21-Jul-2019 12:57) Posted:
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john_ric ( Date: 21-Jul-2019 12:27) Posted:
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those who bot this ipo kpkb lost big.
Trump wants Fed to stop selling Bonds and stop reversing Treasury holdings. He wants USD weaker.
pasttime ( Date: 21-Jul-2019 08:09) Posted:
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making usd weak is what is said. the real is they are trying to keep it high or stable.
who is going to lend to the 22T USD government debt if the USD exchange against major currency falls,
that will make return on capital negative.
who is going to lend to the 22T USD government debt if the USD exchange against major currency falls,
that will make return on capital negative.
Sure finish after US cuts rates - USD will fall. Trump wants his currency war. The real reason is the USD strength. He wants it weaker.
Next will be a right issue and then....
Prime US Reit makes SGX debut at US$0.865, down 1.7% from offer price
FRI, JUL 19, 2019 - 3:43 PMPRIME US Reit debuted on the Singapore Exchange (SGX) on Friday afternoon at US$0.865 per unit, down 1.7 per cent or US$0.015 from its initial offer price of US$0.88. The counter was trading at US$0.87 as at 3.22 pm.
Earlier, before the market opened on Friday, the Reit' s manager said it had received applications for 1.2 times the original offer of 335.2 million units.
Prime US Reit has an initial portfolio of 11 Class A and freehold office properties across nine office markets in the US.
" The successful IPO of Prime US Reit is a testament to the market&rsquo s confidence in our stable and resilient IPO portfolio that provides a unique geographically-diversified exposure to the growing US commercial real estate sector, as well as a strong potential for acquisition growth beyond the IPO portfolio through leveraging the established KBS platform," said Barbara Cambon, chief executive officer and chief investment officer of KBS US Prime Property Management Pte Ltd, the manager of Prime US Reit.
" As Asia&rsquo s global Reits hub, we are delighted to welcome Prime US Reit to our growing family of Reits with international assets. This is our third pure-play US Reit listing this year, bringing the total number of US-focused Reits to five, which demonstrates rising investor interest in US real estate," said Mohamed Nasser Ismail, head of equity capital markets, SGX.
" The three US Reit IPOs on SGX this year have raised close to US$1.7 billion &ndash making them the top three IPOs in Asean year-to-date by funds raised &ndash with Prime US Reit raising the highest at US$612 million."
Prime US Reit is the third US office Reit to list here after Manulife US Reit and Keppel-KBS US Reit.
Its listing brings the total number of SGX-listed Reits and property trusts to 45, with a combined market capitalisation of about S$110 billion.
Together with real estate companies, the overall SGX real estate cluster has a combined market capitalisation of over S$190 billion, said Mr Nasser.
https://www.businesstimes.com.sg/companies-markets/prime-us-reit-makes-sgx-debut-at-us0865-down-17-from-offer-price