Showing posts with label ASCENDAS India Trust (A-iTrust). Show all posts
Showing posts with label ASCENDAS India Trust (A-iTrust). Show all posts

Thursday, May 28, 2009

More Green Marks for Ascendas

Its commitment starts at design stage, runs to maintenance and operations

INDUSTRIAL developer Ascendas Land has been incorporating environmentally friendly features in its projects since 2005, says CEO Tan Yew Chin.

It is no wonder then that seven of those projects have achieved the Green Mark recognition, including four this year.

Two of the four – Standard Chartered @ Changi and Citi, both at Changi Business Park – received the platinum award. The other two – DBS Asia Hub at Changi Business Park and Icon@IBP at the International Business Park – received gold and gold plus awards respectively.

Ascendas Land, which has 1,800-plus customers in more than 30 cities in 10 countries, is also proud that Icon@IBP was commended for its unique architecture and eco-friendliness at the inaugural CityScape Asia Real Estate Awards 2007.

Ascendas develops ‘green’ buildings because it wants to minimise the impact that its business has on the environment.

‘We recognise that this is an area in which we can re-imagine and innovate,’ says Mr Tan.

The company’s commitment to ensuring that its projects are energy-efficient and eco-friendly starts at the design stage and runs right through to building maintenance and operations.

These initiatives include integrating and centralising chiller plants and improving heating, ventilating and air-conditioning systems, as well as regular energy audits to check that everything is running at optimal efficiency.

Ascendas’s own headquarters at The Galen, Singapore Science Park, was awarded eco-office certification this year by the Singapore Environmental Council, recognising its overall environmental performance including waste reduction and water conservation practices, among other things.

Hoping to build on its eco-friendly culture, Ascendas launched a month-long Green Movement campaign to promote good environmental practices among tenants and employees.

Green Month will be extended to the developer’s business parks and buildings in China and India this year.

Ascendas does not think that going green is a burden. On the contrary, it reckons that doing so makes business sense.

‘Demand for green architecture and development is growing, says Mr Tan. ‘Many companies – in particular, multinationals – have corporate requirements to set up shop only in green buildings.

‘Besides reducing energy consumption, environmental and energy-saving features also enable our customers to conduct business in a healthier indoor environment. It makes business sense because it brings long-term returns – for us and our clients.’

Beyond dollars and cents, Ascendas sees eco-friendly practices as part of its corporate social responsibility.

‘We believe in good corporate citizenship, using our core competencies to help improve the quality of life in communities we serve, in an economically, socially and environmentally responsible manner,’ says Mr Tan.

Ascendas feels ‘honoured and excited to have received awards’ and will continue to strive for higher benchmarks so ‘customers enjoy a delightful experience’, he says.

Source : Business Times – 28 May 2009

Wednesday, April 30, 2008

A-iTrust distributable hits $45.8m

Source : Business Times - 1 May 2008

ASCENDAS India Trust (A-iTrust) yesterday reported net property income of $60.5 million for the 12 months ended March 31, 2008 - up 51 per cent from $40.2 million the year before.

The improvement was driven by a 50 per cent jump in property income to $102.7 million year on year.

Distributable income for FY2007-08 was $45.8 million. This translated to distributable income per unit (DPU) of 6.09 cents, or 9 per cent higher than the forecast of 5.6 cents.

Based on a closing price of $1.04 a unit on March 31, the annualised yield was 5.86 per cent.

For Q4, DPU was 1.64 cents. With Q3’s DPU of 1.5 cents, a total of 3.14 cents will be paid on May 28.

A-iTrust was the first Indian property trust listed on the Singapore Exchange - in August last year. Its portfolio comprised four Indian IT parks at end- March.

A-iTrust said its asset portfolio has grown and the performance of its properties has improved. The occupancy rate for the portfolio is 96 per cent, and the renewal rate of expired leases is 92 per cent.

The trust is maintaining a distribution forecast of 6.85 Singapore cents made for FY2008-09 in its listing prospectus.

Jonathan Yap, CEO of the trustee-manager, said: ‘We remain focused on actively managing the portfolio’s income stability and enhancing returns through organic growth.’

The trust will continue to develop the land it owns and acquire new assets in a yield-accretive manner, Mr Yap said. ‘We aim to do so through an optimised capital structure.’

Gearing for the trust was 4 per cent at the end of Q4, leaving it with about $300 million of borrowing capacity for developments or purchases before gearing reaches 35 per cent.

JPMorgan rated A-iTrust ‘overweight’ in early April, with a target price of $1.54. The trust’s units closed two cents lower at $1.18 yesterday.