To The Moon

THE following companies saw new developments that may affect trading of their securities on Thursday (Dec 1):

City Developments Limited (CDL) saw sales slow in its third quarter ended Sep 30, as the property player had a low inventory of unsold units with no new launches in the quarter.

The group and its joint-venture (JV) associates sold 95 units with a total value of S$281 million in Q3, CDL said in its third-quarter operational results on Wednesday (Nov 30).

For the first nine months ended Sep 30, the group and its JV associates sold 802 units worth S$1.9 billion, compared to 1,382 units worth S$2.5 billion in the same period a year ago.

Sinar Mas Land and a joint-venture company of Mitsubishi Corp and Surbana Jurong, Mitbana, are developing one of the largest mixed-use developments in BSD City, Greater Jakarta, both companies said in a joint statement on Wednesday (Nov 30).

The new project will sit on 108 hectares of land and feature township and transit-oriented developments.

Sinar Mitbana Mas, the joint venture between Sinar Mas Land and Mitbana, has named the development “Hiera”, inspired by Japanese characters that mean peace and harmony.

Digital Core Reit is proceeding with the option to acquire a 25 per cent interest in a freehold data centre in Frankfurt, Germany on a full debt-funded basis.

This transaction was floated as one of two possible scenarios on Sep 22, when the real estate investment trust (Reit) manager first announced plans to expand its portfolio with acquisitions in Germany and potentially, the US.

In an alternative scenario, the Reit would acquire majority interests in both the Frankfurt facility and another freehold data centre in Dallas, Texas – provided that the transaction was funded by a combination of external bank borrowings and an equity fundraising.

Morgan Stanley Has Disposed Of The 603,636 Shares Of Vertex Technology Acquisition Corp (Vtac) It Picked Up On Nov 23, And Ceased To Be A Substantial Shareholder Of The Special Purpose Acquisition Company (Spac).

A Bourse Filing On Wednesday (Nov 30) Showed That Morgan Stanley Now Has A Deemed Interest Of 4.6 Per Cent In Vtac, Down From A Deemed Interest Of Over 6 Per Cent, With 2.5 Million Shares.

Morgan Stanley May, Following The Acquisition Which Was Due To An “Aggregation Of Global Position”, Exercise The Right To “Rehypothecate Or Dispose Of” The Shares.