March

• CapitaLand launches the ‘CapitaCard’ – two all-encompassing, loyalty-cum-payment cards that let card members save, while they spend at 1,500 retail and food and beverage outlets at 12 CapitaLand retail malls in Singapore.

• CapitaLand enters into a subscription agreement for a 20% stake in Hong Kong-listed Lai Fung Holdings, which has approximately one million sq m of landbank, mainly in Shanghai and the Pearl River Delta.

• Australand Finance Limited, a wholly-owned subsidiary of Australand, issues five-year notes under a A$267.5 million commercial mortgage-backed securitisation issue.

• CapitaLand Residential issues US$ floating rate notes through a special purpose vehicle Faramir Investment Corporation. The securitisation, which raises US$332.7 million, is backed by sales receivables from two properties – Citylights and Varsity Park Condominium.

• MGM MIRAGE and CapitaLand submit a bid proposal for the Marina Bay IR to the
Singapore Government.

• Raffles Holdings’ 45% associated company, Tincel Properties (Private) Limited, enters into a conditional agreement with CapitaCommercial Trust (CCT) for the acquisition of Raffles City for over S$2 billion. Concurrently, CCT also enters into a collaborative agreement with CapitaMall Trust (CMT) to establish a joint ownership vehicle for the purpose of completing the transaction. CCT and CMT will respectively hold an interest of 60% and 40% in the vehicle.

• Ascott divests its last non-core asset in Singapore, Liang Court Shopping Centre, for
S$175 million. This divestment is part of Ascott’s strategy to focus on its core business in the serviced residence industry.

• Ascott lists the world’s first pan-Asian serviced residence real estate investment trust, Ascott Residence Trust (ART), on the Singapore Exchange. ART’s initial portfolio of S$856 million comprises 12 properties in seven pan-Asian gateway cities in China, Indonesia, Singapore, the Philippines and Vietnam.