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MARKETS & INVESTING, RESIDENTIAL PROPERTY, STOCKS | Staff Reporter, Singapore
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Daily Briefing: Online food startup Grain raises $10m in series B funding; Woodleigh Residences launched sale for a minimum of $1,733 per sqft

And check out which Singapore-based REITs is the cheapest.

From DealStreet Asia:

Singapore-based online food startup Grain on Friday announced that it has raised US$10m in its Series B funding round led by Thai venture capital firm Singha Ventures.

In a statement, Grain said the funding round was also joined by returning investors Openspace Ventures, Raging Bull and Cento as well as new investors Genesis Alternative Ventures, Sass Corp, K2 Global, FoodXervices, and Majuven.

The company said the new investment, which is a mix of equity and venture debt, will be used to ramp up growth in Singapore and finance its expansion to other cities, with Bangkok being the first on its roadmap.

It will also use the capital to build infrastructure to support up to US$100m in revenue.

The company, which ranked fifth amongst Singapore’s fastest growing companies in a recent study, claims to have achieved profitability in December.

Read more here.

From PropertyGuru:

The Woodleigh Residences, a premium integrated development project by Japanese real estate developer Kajima Development and Singapore Press Holdings (SPH), has been launched for sale last 11 May with prices starting from $1,733 per sqft.

This is lowered from its starting price of $1,909 per sqft, cited at its preview last October.

In November 2018, the joint developers of The Woodleigh Residences released 50 units during its soft launch, 30 of which found buyers. This prompted them to release 50 more units for sale.

Read more here.

From MotleyFool:

Amongst the three Singapore-focused retail REITs, Fraser Centrepoint Trust has the lowest price of $2.42 as compared to CapitaLand Mall Trust and Mapletree Commercial Trust priced at $2.46 and $1.96 respectively.

Frasers Centrepoint Trust also has the highest distribution yield amongst its peers at 5%. For the REIT’s latest second quarter ended 31 March 2019, distribution per unit (DPU) grew 1.2%, from 3.10 Singapore cents to 3.137 Singapore cents. The increase came on the back of higher net property income (NPI) for all its assets, except for Bedok Point, which registered flat NPI for the quarter.

On a longer-term basis, Frasers Centrepoint Trust has achieved 12 straights years of DPU growth since its initial public offering (IPO) in 2006, showing the resilience of its underlying assets.

Read more here.

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