Asset Plus Ltd announced its intention on Friday to build a fast-food restaurant for Restaurant Brands Ltd on a bare site at the Eastgate Shopping Centre in Christchurch.
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Marsden Maritime trading up, revaluations & profit down
NZX-listed Marsden Maritime Holdings Ltd (the former Northland Port Corp NZ Ltd) increased the company’s trading surplus for the year to June by 4.6% by continuing to expand its non-port related activities.
Read more →Steel & Tube makes $60 million loss, more staff leaving
Steel & Tube makes $60 million loss, more staff leaving
Read more →Scentre points to some positives – but it made a multi-billion-dollar half-year loss
Westfield mall owner Scentre Group focused on operating earnings & funds from operations in its results release on Tuesday for the June half-year, not including comparisons with the 2019 half-year until it really had to. This half, Scentre tumbled to an $A3.7 billion loss. All but a couple of valuation lines below are in Australian […]
Read more →MaxCap makes first loan through wholesale fund to Safari’s Ramada Wellington
Australian development financier MaxCap Group said yesterday it would provide $30 million of first mortgage funding to developer & builder Safari Group Ltd for the new Ramada hotel & apartment building in central Wellington.
Read more →Fed changes part of its formula, support for asset values continues
US Federal Reserve chair Jerome Powell issued a changed formula yesterday on how it will gauge economic shifts and the consequent moves in interest rates.
Read more →Revaluations take Metlifecare to loss
Retirement village company Metlifecare Ltd made a $33.7 million loss in the year to June as construction of new units & resales both fell, the average value of new homes rose but the development margin slipped.
Read more →Goodman issues $200 million of bonds
Goodman Property Trust manager Goodman (NZ) Ltd will issue $200 million of fixed interest rate bonds to wholesale investors on Friday 4 September after pricing 2 bond issues.
Read more →Elevating acknowledged sexual harasser brings string of repercussions at AMP
Financial services company AMP Ltd gave only the barest of hints in an NZX announcement on Monday of the trouble it had wrought upon itself since June.
Read more →Defunct kitset homes company director fined $80,000 for Fair Trading Act breaches
The director of now-defunct kitset home business Get Design & Sales Ltd, Emma Gestro, was fined $80,000 last Friday for breaching the Fair Trading Act by taking payment for goods not delivered.
Read more →ARA & Cromwell head to late September ownership decider
The fate of Singaporean fund manager ARA Asset Management Pte Ltd’s year-long efforts to get board representation at Brisbane-based Cromwell Property Group – and recently to secure a big enough stake to take control – should be decided on 23 September.
Read more →World property F21Aug20 – CDL Singapore profit slumps
City Developments Ltd (CDL), the Singapore Exchange-listed leading entity in the Kwek family’s Hong Leong property empire, slumped to a profit of just over $S3 million in the June half-year.
Read more →SkyCity revises earnings again
SkyCity Entertainment Group Ltd cut its earnings expectations again yesterday for the year that ended on 30 June.
Read more →Fletcher Building confirms loss, resizes for downturn
Fletcher Building Ltd confirmed today the annual results it had announced, unaudited, 8 days ago – a turnaround from $164 million profit last year to a $196 million loss.
Read more →New index shows commercial rent payments improving
Commercial tenants’ rental payments slipped in June but picked up in July, according to comprehensive research by Re-Leased Software Co Ltd’s new commercial property index.
Read more →Investore opens bond issue
Investore Property Ltd said yesterday it was seeking up to $125 million from a 7-year bond issue to New Zealand institutional & retail investors.
Read more →Government extends Covid-19 wage, leave & mortgage deferral schemes
Finance Minister Grant Robertson announced a new wage subsidy scheme & a simplified leave scheme today to support an estimated 930,000 jobs which might be affected by the re-emergence of Covid-19 in Auckland.
Read more →Summerset makes half-year loss as revaluations slashed, slight fall excluding that measure
Revaluations cut retirement village developer, owner & operator Summerset Group Holdings Ltd’s half-year return by 99%, but by less than 6% once revaluations were removed & other non-GAAP calculations made.
Read more →Augusta takeover enters mop-up stage
Listed property funds manager Augusta Capital Ltd will suspend trading in its shares after the NZX closes trading on Wednesday and will delist its shares after trading closes this Friday, as Australian company Centuria Group proceeds to mop up remaining shares in the company.
Read more →Precinct stays profitable despite slashed revaluations
A $228 million reversal in valuations slashed Precinct Properties NZ Ltd’s profit for the June year, far outweighing the small increase in property income.
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