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Suntec Singapore reels in back-to-back bookings
By: Kathy Neo

It has hosted 96 events.

Suntec Singapore International Convention and Exhibition Centre has turned in impressive results since reopening in June following yearlong major renovations.

In the space of merely three months, the convention centre has hosted a total of 96 events and welcomed 650,000 visitors through its new doors. It also boasts a back-to-back calendar lined up for the rest of 2013 and beyond, with returning customers like Spikes Asia and new customers like IFLA.

Speaking to TTG Asia e-Daily on the sidelines of the soft opening of Suntec City Phase 1 yesterday, Suntec Singapore CEO, Arun Madhok, revealed that about 60 to 70 per cent of the bookings in the last three months were made by returning customers, and that occupancy for October has reached about 80 per cent.

He added that while the convention centre is seeking a healthy mix of local and international events across different industries, it is targeting to attract more medical and IT events.

“Medical events are a growing market, and they typically comprise the hybrid of a conference and an exhibition, which Suntec Singapore can cater to very well with its new offering of space convertibility.”

Since June, the convention centre has hosted five to six medical events, apart from a number of consumer fairs and other trade events. In November, it will host the major IT trade event, CloudAsia, among others.

Last week, the convention centre invited a team from Marina Bay Sands to visit its new premises. Madhok believes in contributing to the high standards of the meetings business in Singapore and is unafraid to share on Suntec Singapore’s new product offerings with its competitors.

“The key in this business is to be the leader of change, rather than its follower. Competitors may wish to emulate us but it would take them a number of years to do what we have done. By then, we would have moved on to something new,” he explained.

When asked how long Suntec Singapore expects to take to recover the huge investment sum that went into its “modernisation” programme, Madhok declined to provide the specifics, but revealed instead that the convention centre is “way ahead of its business plan for 2014 and beyond”.

Source: http://ttgasia.com/article.php?article_id=21715

[Image: Suntec_EntranceLG_News.jpg]
Suntec Singapore has collaborated with LG to unveil what is expected to be the largest LED Digital Wall with the highest definition known.

Affectionately called the Big Picture, the mega Full HD LED digital wall is part of the modern facade of Suntec Singapore, following a six-month long modernization program. Combining 664 Full HD LED screens, the Big Picture boasts 84 times the resolution of Full HD, or 21 times of UHD (Ultra High Definition) resolution, leaping ahead of the latest display resolution found in the consumer market.

Standing at more than three storeys high and 60m wide, the Big Picture will serve as an iconic feature that will showcase Suntec Singapore’s facilities, partners, events and advertisers at the heart of the CBD (Central Business District).

Why Suntec REIT is poised for impressive growth in 2014

Earnings to jump to $240-$260m.

In a report, Moody's Investors Service says Suntec Real Estate Investment Trust's EBITDA will increase to SGD200-SGD260 million by the end of this year, and will recover to historical levels of SGD240-SGD260 million in 2014, as the company completes renovations for its largest asset, Suntec City Mall, in Singapore.

"Our expectation that Suntec REIT's EBITDA will improve is based on the higher rents for the section of the mall that has already been renovated, and on the REIT manager's targeting of higher-end fashion retailers for the third and last area of the mall to be renovated and completed at the end of next year," says Jacintha Poh, a Moody's Analyst.

Moody's analysis is contained in its just-released report titled "Suntec REIT's EBITDA Will Recover By 2014 as Mall Renovation Ends," and is co-authored by Poh and Clara Kim, an Associate Analyst.

Suntec REIT hopes to increase overall rents by 25% once all sections of the mall are renovated and open in 2015. Rents for the first part of the mall to be revamped have already risen by 15.7%.

The first renovated section of the mall opened in June with a committed occupancy rate of 99.6% and average monthly rents of SGD13.09 per square foot compared with SGD11.31 in the unrenovated sections.

Moody's expects the second renovated section to attract similar rental rates and for occupancy rates to increase to over 90% at the end of this year from the pre-commitment level of 70.1% at the end of the second quarter.

"Consequently, we expect Suntec REIT's credit metrics to improve in the next 12-18 months, reflecting the recovery of its EBITDA," adds Poh.

Moody's believes Suntec REIT's debt/EBITDA ratio should return to pre-renovation levels of 11.0x in 2015 from 16.0x at end-June.

(16-09-2013, 04:32 PM)yanziyang Wrote: [ -> ]Why Suntec REIT is poised for impressive growth in 2014

Earnings to jump to $240-$260m.

In a report, Moody's Investors Service says Suntec Real Estate Investment Trust's EBITDA will increase to SGD200-SGD260 million by the end of this year, and will recover to historical levels of SGD240-SGD260 million in 2014, as the company completes renovations for its largest asset, Suntec City Mall, in Singapore.

"Our expectation that Suntec REIT's EBITDA will improve is based on the higher rents for the section of the mall that has already been renovated, and on the REIT manager's targeting of higher-end fashion retailers for the third and last area of the mall to be renovated and completed at the end of next year," says Jacintha Poh, a Moody's Analyst.

Moody's analysis is contained in its just-released report titled "Suntec REIT's EBITDA Will Recover By 2014 as Mall Renovation Ends," and is co-authored by Poh and Clara Kim, an Associate Analyst.

Suntec REIT hopes to increase overall rents by 25% once all sections of the mall are renovated and open in 2015. Rents for the first part of the mall to be revamped have already risen by 15.7%.

The first renovated section of the mall opened in June with a committed occupancy rate of 99.6% and average monthly rents of SGD13.09 per square foot compared with SGD11.31 in the unrenovated sections.

Moody's expects the second renovated section to attract similar rental rates and for occupancy rates to increase to over 90% at the end of this year from the pre-commitment level of 70.1% at the end of the second quarter.

"Consequently, we expect Suntec REIT's credit metrics to improve in the next 12-18 months, reflecting the recovery of its EBITDA," adds Poh.

Moody's believes Suntec REIT's debt/EBITDA ratio should return to pre-renovation levels of 11.0x in 2015 from 16.0x at end-June.

Thanks for the update.

(16-09-2013, 01:45 PM)yanziyang Wrote: [ -> ][Image: Suntec_EntranceLG_News.jpg]
Suntec Singapore has collaborated with LG to unveil what is expected to be the largest LED Digital Wall with the highest definition known.

Affectionately called the Big Picture, the mega Full HD LED digital wall is part of the modern facade of Suntec Singapore, following a six-month long modernization program. Combining 664 Full HD LED screens, the Big Picture boasts 84 times the resolution of Full HD, or 21 times of UHD (Ultra High Definition) resolution, leaping ahead of the latest display resolution found in the consumer market.

Standing at more than three storeys high and 60m wide, the Big Picture will serve as an iconic feature that will showcase Suntec Singapore’s facilities, partners, events and advertisers at the heart of the CBD (Central Business District).

Wow! Looks impressive.

But I was just wondering, will it add unnecessary rise to electricity bill?

(19-09-2013, 03:10 PM)Dividend Warrior Wrote: [ -> ]

(16-09-2013, 01:45 PM)yanziyang Wrote: [ -> ][Image: Suntec_EntranceLG_News.jpg]
Suntec Singapore has collaborated with LG to unveil what is expected to be the largest LED Digital Wall with the highest definition known.

Affectionately called the Big Picture, the mega Full HD LED digital wall is part of the modern facade of Suntec Singapore, following a six-month long modernization program. Combining 664 Full HD LED screens, the Big Picture boasts 84 times the resolution of Full HD, or 21 times of UHD (Ultra High Definition) resolution, leaping ahead of the latest display resolution found in the consumer market.

Standing at more than three storeys high and 60m wide, the Big Picture will serve as an iconic feature that will showcase Suntec Singapore’s facilities, partners, events and advertisers at the heart of the CBD (Central Business District).

Wow! Looks impressive.

But I was just wondering, will it add unnecessary rise to electricity bill?

Don't think it will affect much. Just worry it don use it for advertising purposes

(19-09-2013, 08:52 PM)investingsgx Wrote: [ -> ]

(19-09-2013, 03:10 PM)Dividend Warrior Wrote: [ -> ]

(16-09-2013, 01:45 PM)yanziyang Wrote: [ -> ][Image: Suntec_EntranceLG_News.jpg]
Suntec Singapore has collaborated with LG to unveil what is expected to be the largest LED Digital Wall with the highest definition known.

Affectionately called the Big Picture, the mega Full HD LED digital wall is part of the modern facade of Suntec Singapore, following a six-month long modernization program. Combining 664 Full HD LED screens, the Big Picture boasts 84 times the resolution of Full HD, or 21 times of UHD (Ultra High Definition) resolution, leaping ahead of the latest display resolution found in the consumer market.

Standing at more than three storeys high and 60m wide, the Big Picture will serve as an iconic feature that will showcase Suntec Singapore’s facilities, partners, events and advertisers at the heart of the CBD (Central Business District).

Wow! Looks impressive.

But I was just wondering, will it add unnecessary rise to electricity bill?

Don't think it will affect much. Just worry it don use it for advertising purposes

Sure use for ads.... Additional income

Suntec REIT asset enhancement initiatives "making good progress"

SCM's Phase 2 approaching 85% pre-commitment.

Suntec REIT is currently performing renovation works to Suntec City Mall's Phase 1 and Phase 2, and everything points to the company completing all the works by 4Q14, said Maybank Kim Eng.

Pre-commitments for both phases have also been robust.

"Pre-commitments for Phase 1 leases in 2Q13 hit 99.6% (96.7% in 1Q13) with average passing rent of S$13.09 psf/mth. Suntec also reported that 70.1% of Phase 2 NLA in 2Q13 has been pre-committed (prev. qtar 53%). We think pre-commitments for Phase 2 should hit at least 85% in 3Q13. Looking at the intensity of the refurbishment works, overall AEI is making good progress and works should wrap up as scheduled by 4Q14," said Maybank.

The research firm also foresees "modest" rental uplift last quarter given that Phase 1 new tenants, which enjoyed rent-free periods during the renovations, should have resumed rental payments already.

http://infopub.sgx.com/FileOpen/DateResu...eID=259772

3Q Results releasing on 24th October 13 (Thur)