Fortune Real Estate : Fortune REIT Named as Hong Kong “Best Mid-Cap Company” and “Most Committed to a Strong Dividend Policy” by FinanceAsia
05/28/2012| 07:31am US/Eastern
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Hong Kong: Units 5508-5510, 55/F The Center, 99 Queen's Road
Central
Tel +852 2169 0928 Fax +852 2169 0968
Press Release
Singapore: 6 Temasek Boulevard, #16-02 Suntec Tower Four,
Singapore 038986
Tel +65 6835 9232 Fax +65 6835 9672
Fortune REIT Named as Hong Kong "Best Mid-Cap Company"
and "Most Committed to a Strong Dividend Policy" by
FinanceAsia
28 May 2012. ARA Asset Management (Fortune) Limited (the
"Manager"), as manager of Fortune Real Estate Investment
Trust ("Fortune REIT"; SEHK: 778; SGX: F25U), is pleased to
announce that Fortune REIT has been voted as Hong Kong Best
Mid-Cap Company and ranked third in the category of "Most
Committed to a Strong Dividend Policy in Hong Kong" in the
Asia's Best Companies 2012 Poll conducted by FinanceAsia - a
reputable financial magazine in Asia.
Ms Justina Chiu, Deputy Chief Executive Officer of the
Manager said, "We are very proud to be recognised as
the Best Mid-cap Company and earn a prominent ranking as Most
Committed to a Strong Dividend Policy among the investment
community in Hong Kong. This is a strong acknowledgment of
our dedication to excellence in corporate management and
corporate governance, as well as delivering the best return
to shareholders. Taking this opportunity, I would like to
thank all investors and analysts who have casted their vote
on Fortune REIT, for their ongoing support and confidence in
Fortune REIT's bright prospects. Also, we wish to thank staff
for their efforts to ensure Fortune REIT's continuous
progress as a prosperous company."
Fortune REIT reported strong financial results for the three
months ended 31 March 2012 ("1Q2012") with revenue and net
property income growing by 18.5% and 15.1% to HK$259.2
million and HK$185.3 million respectively. Income available
for distribution achieved a record high of HK$131.8 million,
up 16.9% from last year, and the distribution per unit for
1Q2012 increased by 15.6% year-on-year to HK 7.78 cents,
representing an attractive annualised dividend yield of
7.8%1.
"Looking ahead, Fortune REIT will further enhance its
property portfolio through Assets Enhancement Initiatives
while maintaining a high standard of corporate governance for
maximising the return to stakeholders. We are confident that
with our outstanding track records and sound strategies,
Fortune REIT will continue to shine in the real estate sector
as well as in the investment communities," Ms. Chiu
concluded.
FinanceAsia is a leading financial magazine in Asia. For
Asia's Best Companies 2012 Poll, votes from more than 260
investors and analysts across the region have been tabulated.
Investment professionals are requested to rank companies in
key categories such as corporate
governance, investor relations, commitment to dividends, etc.
1 Based on HK$4.0, the average closing unit price in
Singapore and Hong Kong, as of 30 March 2012.
Page 1 of 4
ARA Asset Management (Fortune) Limited
Hong Kong: Units 5508-5510, 55/F The Center, 99 Queen's Road
Central
Tel +852 2169 0928 Fax +852 2169 0968
Press Release
Singapore: 6 Temasek Boulevard, #16-02 Suntec Tower Four,
Singapore 038986
Tel +65 6835 9232 Fax +65 6835 9672
Photo Captions:
Fortune REIT has been voted as Hong Kong Best Mid-Cap Company
in Asia's Best Companies 2012 Poll
by FinanceAsia .
Page 2 of 4
ARA Asset Management (Fortune) Limited
Hong Kong: Units 5508-5510, 55/F The Center, 99 Queen's Road
Central
Tel +852 2169 0928 Fax +852 2169 0968
Press Release
Singapore: 6 Temasek Boulevard, #16-02 Suntec Tower Four,
Singapore 038986
Tel +65 6835 9232 Fax +65 6835 9672
Fortune REIT earns a high third place ranking as "Most
Committed to a Strong Dividend Policy in Hong
Kong" in Asia's Best Companies 2012 Poll by FinanceAsia .
Page 3 of 4
ARA Asset Management (Fortune) Limited
Hong Kong: Units 5508-5510, 55/F The Center, 99 Queen's Road
Central
Tel +852 2169 0928 Fax +852 2169 0968
Press Release
Singapore: 6 Temasek Boulevard, #16-02 Suntec Tower Four,
Singapore 038986
Tel +65 6835 9232 Fax +65 6835 9672
About Fortune REIT. Fortune Real Estate Investment
Trust ("Fortune REIT") is a real estate investment trust
consituted by a Trust Deed entered into on 4 July 2003 (as
amended) made between ARA Asset Management (Fortune) Limited,
as the Manager of Fortune REIT, and HSBC Institutional Trust
Services (Singapore) Limited, as the Trustee of Fortune REIT.
Fortune REIT was listed on the Singapore Exchange Securities
Trading Limited and The Stock Exchange of Hong Kong Limited
on 12 August 2003 and 20 April 2010 respectively.
Fortune REIT holds a portfolio of sixteen retail properties
in Hong Kong, comprising approximately 2.45 million sq ft of
retail space and 1,989 car parking lots. The retail
properties are Fortune City One, Ma On Shan Plaza, Metro
Town, Fortune Metropolis, Belvedere Square, Waldorf Avenue,
Provident Square, Caribbean Square, Smartland, Tsing Yi
Square, Jubilee Square, Nob Hill Square, Centre de Laguna,
Hampton Loft, Lido Avenue and Rhine Avenue. They house
tenants from diverse trade sectors such as supermarkets, food
and beverage outlets, banks, real estate agencies, and
education providers. More information can be found at www.fortunereit.com.
About ARA Asset Management (Fortune) Limited, the Manager.
Fortune REIT is managed by ARA Asset Management (Fortune)
Limited, a wholly-owned subsidiary of ARA Asset Management
Limited, which is listed on the Main Board of the Singapore
Exchange Securities Trading Limited. More information can be
found at www.ara-asia.com.
Disclaimer. The information contained in this press
release does not constitute an offer or invitation to sell or
the solicitation of an offer or invitation to purchase or
subscribe for Units in Fortune REIT in Hong
Kong, Singapore or any other jurisdiction.
Media and investor contacts
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