(11-12-2014, 11:53 AM)specuvestor Wrote: [ -> ]They used to be very distinct but I don't know what is the difference between the 2 anymore. GIC is under pressure also because they are managing CPF money.
IMHO Temasek should have continued to be a "PE fund" instead of listed equities. Fullerton is also confused. That's what happens when you start focusing on PnL instead of strategic sense.
Sorry might have woken from oft catatonic state. It seems a little inconsistent to aim at one thing and then expect to get another thing, and somehow it is miraculously "better" (usually worse but don't say, and never argue). I do not have a solid example.
GIC buys office building in Brazil, marks first wholly-owned investment in Latin America
Published on Dec 12, 2014 11:32 AM
The acquisition of an office building in Rio de Janeiro marks GIC's first wholly-owned investment in Latin America. -- PHOTO: REUTERS
By Marissa Lee
SINGAPORE - Singapore investment company GIC has signed a forward purchase agreement for an office building in downtown Rio de Janeiro for an undisclosed sum.
The building, named Eco Sapucai, is being developed by Hemisfério Sul Investimentos (HSI), a Brazilian private equity real estate fund manager.
Construction is expected to be completed in the first quarter of next year, at which point the deal will be completed. Such an agreement protects GIC's interest should HSI fail to deliver.
Designed by renowned Brazilian architect Oscar Niemeyer, the 86,060 sqm AAA office building will comprise 17 office storeys, with shops on the ground floor and a helideck at the top.
Singapore's GIC forges ahead with $2.5b portfolio sale
Mercedes Ruehl
393 words
2 Apr 2015
The Australian Financial Review
AFNR
English
Copyright 2015. Fairfax Media Management Pty Limited.
Singaporean sovereign fund GIC is continuing its nearly $2.5 billion sell-down of Australian real estate, and is poised to officially agents to market its extensive industrial portfolio.
It is understood the offshore giant will appoint Colliers International and JLL to sell its total of about 25 assets, worth potentially as much as $1 billion. It will be the largest direct property sale for the sector to date.
GIC, which has a huge global presence in real estate, has built up a vast Australian portfolio since its first direct property investment in the 1990s.
But over the last couple of years it has sold a number of its Australian assets at significant premiums.
Now the group has opted to sell its industrial real estate rather than pursue a public float.
The industrial sector is running hot with more cashed-up offshore buyers emerging in the last six months, which has tightened yields and pushed up prices.
GIC's industrial investments are divided into two lots in total. One interest is part of a joint venture with Australand Property Group and the other is 100 per cent owned by GIC.
GIC did not respond to a request for comment when contacted by The Australian Financial Review. But it is the second major sale flagged for the group just this year. GIC is in the process of selling the landmark Westin Sydney hotel, with price expectations of about $400 million. It purchased the hotel in 2002 for $160 million through its real estate subsidiary.
The sale of the Westin comes about a year after GIC sold the Park Hyatt in Melbourne to Fu Wah International for $135 million.
Shortly after that it sold $505 million worth of shares in diversified property giant GPT Group. GIC purchased its stake of about 12 per cent in GPT in late 2008, becoming a cornerstone investor in the group during the Australian property downturn.
Last year the Singaporean giant also sold 175 Liverpool Street in the Sydney central business district for just less than $400 million. It picked up the office tower for $125 million in 1996.
However, GIC still owns a number of landmark Australian properties, including Chifley Tower and the iconic Queen Victoria Building and Strand Arcade in Sydney, through its Ipoh investment.
Fairfax Media Management Pty Limited
Document AFNR000020150401eb4200010
I v blur liao... GSIC sells Ascendas as fun mgr bought... Capland sold ALZ for a song last yr as well...
Is anyone talking? Maybe its good that there is China Wall... but fun mgrs usually builds pipeline to feed into funds for investors... investors paying eventually?
Caveat Emptor
Singapore giant Ascendas wins race to $1.1b of logistics facilities
Across Asia Ascendas will soon own more than $16 billion of real estate including Australia.
by Robert Harley
The Singapore property giant Ascendas is poised to become a major player in Australian industrial real estate with a bid of about $1.1 billion to buy one of the country's largest portfolios of logistics real estate.
The owner of the portfolio, the Singapore sovereign wealth fund GIC, has chosen Ascendas as the preferred bidder.
It is the second billion dollar Australian property sale in as many weeks, after the Chinese sovereign fund CIC bought the $2.45 billion Investa Office portfolio, and will set another benchmark for local real estate.
The yield on Ascendas portfolio is just over 6 per cent, which is very tight for industrial real estate.
Demand for quality industrial assets has soared, with 2014 recording the highest level of industrial property investment yet seen in Australia, due to the sector's relatively high yields and long-term leases.
The GIC assets, understood to comprise more than 600,000 square metres of lettable area in total, are primarily A-Grade and located in major capital markets in key logistics areas. The investment is underpinned by long-term leases to major corporates, like Wesfarmers, for a Kmart Distribution Centre in Sydney, and Pacific Brands for a facility in Victoria.
The opportunity to buy such a portfolio attracted some of the leaders in global real estate including Blackstone, the Canadian heavyweight Ivanhoe Cambridge, in tandem with the Macquarie Group backed manager Logos, and global private equity firm Warburg Pincus in partnership with the Asia-focused logistics real estate fund The Redwood Group.
The portfolio was marketed by Colliers International, represented by Tony Iuliano and Gavin Bishop and JLL represented by Chris Key and Michael Fenton but the final decision was made in Singapore.
Ascendas is part of Acendas-Singbridge formed this year and controlled by two Singapore government entities: Temasek and JTC Corporation.
Ascendas already has a presence in Australia though the Ascendas Hospitality Trust, which owns six properties including the Pullman Sydney Hyde Park, the Pullman and Mercure Melbourne Albert Park and the Pullman and Mercure Brisbane King George Square.
But the group's real focus is on the ownership and management of business space for uses like industrial, distribution, hi-tech, and research and development.
Across Asia, in 10 countries including Singapore, China, India, South Korea and Vietnam, the group manages over $15.7 billion of logistics real estate in a range of listed trusts and private real estate funds.
Soon it will add $1.1 billion of Australian facilities.
Buy at "sales", when the retailer is in a "junk" status...?
Temasek joins MBK-led consortium to bid for Tesco's South Korea unit: sources
SINGAPORE (Aug 27): Asia-focused private equity firm MBK Partners has partnered with Singapore state investor Temasek Holdings to bid for the South Korea arm of British retailer Tesco, two people familiar with the matter told Reuters.
...
http://www.theedgemarkets.com/sg/article...it-sources
http://www.straitstimes.com/business/thi...re-project
A joint project being undertaken by a Temasek Holdings unit and a Chinese entity is about to get its third chief executive in less than five years.
The development involves building a business park for knowledge- based industries in Guangzhou, the capital of Guangdong province.
The Sino-Singapore Guangzhou Knowledge City, as the project is called, is being developed by Temasek unit Singbridge and the Guangzhou Development District Administrative Committee.
The new boss will be Singbridge executive vice-president Ng Kok Siong, who replaces Mr Chin Phei Chen on Oct 15.
Mr Chin, who has helmed the project for 21/2 years, will return to a senior leadership role within the Temasek group of companies.
The first CEO, Mr Tay Hun Kiat, left after just a little more than one year at the job.
http://www.straitstimes.com/business/tem...gets-a-ceo
All staff of Temasek Holdings, except Ms Ho and chief financial officer Leong Wai Leng, were transferred to TI.
Mr Lee, the former president and chief executive of Temasek unit ST Telemedia, joined Temasek in 2012.
He set up infocommunications firm ST Telemedia as a new business area, overseeing its investments into the Asia-Pacific, Europe and the Americas.
He has been chairing various senior management committees in Temasek for over a year and has been overseeing its daily operations since Ms Ho went on sabbatical leave in April.