Perennial China Retail Trust: (Flash Note) Could see positive interests, after Perennial’s CEO And Wilmar CEO To Set Up Property Joint Venture Called Perennial Real Estate Holdings, with a target Capital of $500m. While lacking details, news could create further positive sentiments for PCRT on further tie ups with Wilmar.
Separately, on Wed, Kuok raised his stake in Perennial China Retail Trust to 16.9% from 5%, while (Wilmar’s COO) Sitorus upped his stake in the trust to 5.7% from 3.2%. Kuok and Sitorus each paid 44.625c / unit to raise their stakes in the trust, according to filings to the Singapore Exchange.
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