Business News -SINGAPORE • SPH Reit will issue a lower payout for the first quarter but it noted yesterday that business is slowly picking up after the hit it took. com. General. Distributed by Public, unedited and unaltered, on 24 June 2022 02:45:00 UTC. The investment strategy of SPH REIT is to invest, directly or indirectly, in a portfolio of income-producing real estate which is used primarily for retail purposes in Asia Pacific, as well as real estate-related assets. Disclaimer. 54K subscribers. Summary. 26. SPH Reit, a real estate investment trust, will change its name to Paragon Reit to better reflect its vision and mission in the Asia-Pacific retail landscape. 6m (+11. SPH REIT : Proposed Scheme Of Arrangement Involving Singapore Press Holdings Limited (Dealing Disclosure) -January 27, 2022 at 09:26 pm EST |. SPH REIT (SGX:SK6U), a pure-play retail REIT with properties in Singapore and Australia, released its results for the first half of the financial year 2021/22 last Friday. Valuing Others – Associates, Joint Ventures (Property Development. Change Of SPH REIT's Financial Year End From 31 August To 31 December. 3. . SK6U fundamental analysis;SPH REIT (SGX:SK6U) has changed the issuer name / code to PARAGON REIT (SGX:SK6U) with effect from 2023-01-03. This presentation may also contain forward-looking statements that involve risks and uncertainties. 09% of the Units. Money & Me: First Reit, CapitaLand, Daiwa, Digital Core Reit and the best of the S-Reit pivots (December 2021) Money and Me: VTL’s and hospitality and retail, a new Reit ETF and Making sense of offers for SPH (November 2021)SPH REIT - Units (SPHEF) Dividend Data Stock Data Avg Price Recovery N/A. SPH had in August received a privatisation offer from Keppel at S$2. Maintain HOLD rating on SPH REIT's with target price at S$0. 66% for 1H FY2022 with a weighted average term to maturity of 2. 596 units) and SPH REIT (0. Build Retirement Portfolio with S-REIT REITirement - SREIT @REITirement. SPH REIT (SGX:SK6U) has changed the issuer name / code to PARAGON REIT (SGX:SK6U) with effect from 2023-01-03. Whether you are interested in key performance ratios, financial news and results, we hope that you will find what you need readily here. NPI at S$209. . . 2 cents, Business News & Top. The group holding the most number of shares in the company, around 33% to be precise, is individual investors. 33 last Friday, while SPH Reit ended 1 per cent up at $1. 798(1) Being the value of 0. Paragon REIT is a real estate investment trust (REIT) in Singapore and Asia Pacific, with a portfolio of income-producing retail properties. 602 cash and 0. Announcement Details. ) Let us take a look at its financial results, and compare them against the REIT’s results. Coming Dividends. This includes a cash injection of $80 million, $30 million worth of SPH shares and SPH REIT units (Approximately 23. Unlock. Whether you are interested in key performance ratios, financial news and results, we hope that you will find what you need readily here. SPH REIT has obtained the approval of its trustee to change its name to Paragon REIT. (vi) SPH is deemed to be interested in the Units that TPPL, TPR and the REIT Manager have an interest in. 91%) compared to last month’s update. Date &Time of Broadcast. 01 From SG$0. SK6U. 668, as well as 0. Prior to 1 December 2021, SPH was in the media business as well with a reach in the print, digital, radio, and outdoor media. S. Keep the Cash + Keppel / SPH REIT offer, but up the price, or. S. In particular, the units of PARAGON REIT have not been and will not be registered under the U. 14. Best dividend capture stocks in Nov. It is now offering each SPH shareholder the option of an all-cash offer of $2. When was Suburban Propane Partners's most recent dividend payment? Suburban Propane Partners's most recent quarterly dividend payment of $0. This was an improvement from its 97. Distributed by Public, unedited and unaltered, on 27 May 2022 09:42:19 UTC. 5m) from a fund (Australian Prime Property Fund – Retail) which is managed by Lendlease Real Estate. Mandatory Cash Dividend/ Distribution. 099 per SPH share, which represents a 16. SPH REIT is a Singapore-based REIT established principally to invest, directly or indirectly, in a portfolio of income-producing real estate which is used primarily for retail purposes in Asia-Pacific, as well as real estate-related assets. SK6U. SPH REIT published this content on 07 June 2022 and is solely responsible for the information contained therein. Mr Patrick Daniel, Interim CEO of SPH Media Trust, recounted that SPHL had reiterated in its EGM circular to its shareholders that "the listed company model is no longer the best business structure. In their report dated Jan 7, Eing and Lock like that the. What is the dividend yield of SPH REIT? SPH REIT - SK6U has a dividend yield of 5. Payment Of Management Fee (Base Fee) By Way Of Issue Of Units In SPH REIT. CI. 8% y-o-y to S$277. The Rail Mall. In an extraordinary general meeting (EGM) held on Dec 9, some 98. 7K views 03:24. The offer to existing SPH shareholders is in the form of cash, SPH REIT, and Keppel REIT. 4 total based on SPH REIT closing price of S$1. 1. The Reit has $1. More On This Topic Keppel's privatisation offer for SPH viewed positively. 28 Jul 2022. Market / ISIN Code: SGX Mainboard / SG2G02994595. Feb. Since its takeover by Cuscaden Peak in 2022, it has been renamed Cuscaden Peak Investments . (SPH) dividend growth history: By month or year, chart. SPH REIT () Stock Market info Recommendations: Buy or sell SPH REIT stock? Singapore Stock Market & Finance report, prediction for the future: You'll find the SPH REIT share forecasts, stock quote and buy / sell signals below. is currently the largest shareholder, with 31% of shares outstanding. Against the backdrop of global vaccination drives and a gradual recovery in tenants’ sales, SPH REIT’s near-term focus is to maintain healthy occupancy and sustainable rental income in. SPH REIT published this content on 24 June 2022 and is solely responsible for the information contained therein. 5 million through the private placement. CUSCADEN PEAK INVESTMENTS PRIVATE LIMITED. 2 million. Date Of Release Of 2020 Second Quarter Results. 52 cents of DPU which was previously withheld from FY2020. . 0553 (+2. Prior to that, shares of SPH closed flat at $2. 4% stake in SPH REIT (SGX:SK6U) for approximately SGD 380 million. 8%,. Change Of Name Of SPH REIT And The Manager. TAGS. The property was valued at US$210 million as at Dec 31, 2022. Ltd. Login with PasswordKEPPEL Reit has divested its stake in its Brisbane property for A$275 million (S$277. 2 per cent of shareholder votes signalled their approval for the acquisition of SPH, while 1. Note Short Sell volume according to the Daily. Hope to catch a nice uptrending wave for SPH Reit as the price bounces off. 30 cents was based on income available for distribution for the comparative quarter from 1 September 2013 to 30 November 2013. 05 in profit. 35, while units of SPH Reit ended 0. Paragon, one of the key malls that's part of SPH REIT's portfolio. P. Note Daily OHLC share price according to SGX Ready Market transactions. SPH REIT's (SGX:SK6U) top owners are individual investors with 33% stake, while 31% is held by private companies. 03. 13 and S$0. Acquisition ( SPH buys and incubates the property and SPH REIT uses rights issue, placement and debt to acquire it) The third option looks plausible. 2% premium over the one-month volume. VICTORIA, BC (September 10, 2010) - Partners Real Estate Investment Trust. 36, or $2. 868 per share in cash, 0. However, given its sizable exposure to the high-end retail mall industry, concern over its business operational outlook over the short-term is warranted. Follow us on Facebook and join our Telegram channel for the latest updates. When SPH REIT announced its FY19 full year results, I mentioned that the debt gearing currently stood at 27. 0172 for Four Months to December 2022 Period. SPH REIT adopts a proactive and disciplined capital management approach. This could potentially trigger a chain offer for SPH Reits if Cuscaden accumulates 30 per cent or more of the Reits. As at 6 pm on Wednesday, offeror Cuscaden Peak had received valid acceptances of its chain offer in respect of approximately 4. In this post, you will find my review about the REIT's results for the second quarter and first half of the financial year 2020/21 ended 30 September (which was released on 19 October 2020) - particularly, you will read about its financial results, debt and portfolio occupancy profile, as well as its distribution payouts, along with my personal. The Company invests in a portfolio of income-producing real estate primarily for retail purposes in Asia- Pacific, as well as real estate-related assets. SPH REIT (SGX:SK6U) has changed the issuer name / code to PARAGON REIT (SGX:SK6U) with effect from 2023-01-03. 782 SPH Reit unit. SPH REIT (SGX:SK6U) reported higher gross revenue of S$277. . PARAGON REIT Announces Distribution for the Period from 1 September 2022 to 31 December 2022, Payable on 28 March 2023. 6 per cent from DPU of 1. , as manager (the “Manager”) of SPH REIT (“SPH REIT”), is making an offering (the “Offering”) of 308,884,000 units representing undivided interests in SPH REIT (“Units”) for subscription at the Offering Price (as defi ned below) (the “Offering Units”). How long has SPH REIT been paying dividends? SPH REIT (SGX:SK6U) stock has been paying dividend to its shareholders since 01/15/2014. SPH Real Estate Investment Trust (Reit) will be renamed to Paragon Reit as the name change will better reflect the trust’s vision and mission to capture unique. This is an increase of 10. Cuscaden, a consortium comprising Hotel Properties, businessman Ong Beng Seng and 2 Temasek-linked entities CLA and Mapletree, had in April 2022 offered to acquire SPH Reit at the minimum offer price of S$0. The offer is made for all the units in SPH REIT, other than those already owned, controlled or agreed to be acquired by Cuscaden Peak and parties acting in concert with the offeror. " SPH is a media organisation whose portfolio also includes properties, broadcasting, and events and. MT. More On This Topic. According to the REIT manager, the new name is “synonymous with quality and excellence”. SINGAPORE - SPH Reit is planning to acquire The Rail Mall for $63. SPH REIT announced the acquisition of a 50% stake in Westfield Marion along Diagonal Road, Adelaide for A$670m (c. 01% of the Units. 9 million units, representing about 14. SGD 0. 2 per cent, at 89 cents on Wednesday. Under the offer, SPH shareholders will receive a total consideration of $2. It operates through the following segments: Paragon, The Clementi Mall, The Rail Mall, Figtree Grove, and Westfield Marion. 12-Jul-2021 18:43:20. Contrast this with Parkway Life REIT (SGX: C2PU. MORE STORIES. 099 per share. Ng has indicated his desire to step down as Director with effect from 1 January 2023. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of. 9372 per unit, which is the minimum offer price required after adjusting for recent SPH Reit distributions. Platform. SPH Reit's DPU in Q1 down 13% to 1. , a wholly-owned subsidiary of Cuscaden Peak Investments Private Limited (formerly known as Singapore Press Holdings Private Limited). Security. Sector / Industry / Sub-Industry: Real Estate / Equity Real Estate Investment Trusts (REITs) / Retail REITs. THE BUSINESS TIMES SPH Reit - Find SPH Reit News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. Search for stock quotes, share prices, market data and trading information of all equity securities traded on Singapore Exchange. As part of the arrangement, the company announced that SPH shareholders will receive consideration of S$2. Need help interpreting the REIT data? Then read our guide on 5 Important Factors You Need to Consider Before Investing in Any REIT. 86 cents for the period from 24 July 2013 (listing date) to 30 November 2013. It adde. SPH REIT (SGX:SK6U)'s 12-month FY22 DPU of S$0. Securities Fixed Income Derivatives Indices Data & Connectivity Sustainable Finance Regulation. In addition, the high occupancy was supported by a high tenant retention ratio of 82. 1. 108 (A slight increase due to the improvement of SPH REIT share price). Feb. 15am, units in SPH REIT are trading flat at 97 cents, or an FY2022 P/B of 1. More On This Topic. 2 billion, Keppel will be offering S$2. Summary. On a QoQ basis, SPH REIT performance is improving. Ltd. This brings DPU for the second half of FY2021 to 2. More On This Topic. 12-Jul-2021 18:43:20. Distributed by Public, unedited and unaltered, on 17 June 2022 03:02:02 UTC. SPH REIT announced a change of financial year-end from 31 Aug to 31 Dec to align with its sponsor, Cuscaden Peak. SPH REIT Discloses Valuation of Shopping Malls 2022: MT Paragon REIT Reports Earnings Results for the Full Year Ended August 31, 2022 2022: CI SPH REIT Announces Distribution for the Period from 1 June 2022 to 31 August 2022, Payable on 25 November 2022SPH REIT did not declare any distributions during the quarter as it is bound by the Singapore takeover code on the back of the possible chain offer by Cuscaden. Paragon REIT is a real estate investment trust (REIT) in Singapore and Asia Pacific, with a portfolio of income-producing retail properties. SPH REIT is a Singapore-based real estate investment trust established principally to invest in a portfolio of income-producing real estate primarily for retail. 77 per cent. SPH REIT is trading at ~6% DPU yield, below its 5-year mean of 5. SPH had in August received a privatisation offer from Keppel at S$2. SPH REIT published this content on 22 June 2022 and is solely responsible for the information contained therein. 58 Singapore cents for the fourth quarter ended August. Looking ahead, SPH Reit said that it would maintain a disciplined approach to capital management. 02% (or 515,800) of the votes against. 351 comprises 86. Disclaimer. (vii) SPH is a subsidiary of Cuscaden. TAGS. 86 cents for the period from 24 July 2013 (listing date) to 30 November 2013. PARAGON REIT (formerly known as “SPH REIT”) is a Singapore-based real estate investment trust established principally to invest in a portfolio of income-producing real estate primarily for retail purposes in Asia-Pacific, as well as real estate-related assets. CGS-CIMB Adjusts Paragon REIT's Price Target to SG$1. Market / ISIN Code: SGX Mainboard / SG2G02994595. 782 SPH REIT shares with an indicative value of. IT HAS been just over 8 months since Cuscaden Peak submitted a proposal to the board of directors of Singapore Press Holdings. 099 per share, comprising cash of S$0. Share Price as of: -. As a new major unitholder of SPH REIT, Cuscaden has to g. Market / ISIN. REITirement - SREIT. Last Funding Type Post-IPO Equity. Company Type For Profit. 5 per cent, lower at 97 cents. 9%, reiterating tenants’ confidence in SPH REIT’s strategic assets. 020 per SPH REIT Unit as at 12 November 2021, being the Last Trading Day. SPH Reit closed on Oct 7 up 1. SPH REIT has. SPH REIT is a Singapore-based REIT established principally to invest, directly or indirectly, in a portfolio of income-producing real estate which is used primarily for retail purposes in Asia-Pacific, as well as real estate-related assets. Operating Status Active. Retail investors net buy S$390 million of S-Reits in H1 2023. 602 in cash and 0. SPH REIT Announces Change of Financial Year End from 31 August to 31 December 2022: CI SPH REIT Secures Term Loan Facility of SGD 975 Million 2022: CI Singapore Shares End Week Slightly Higher; SPH REIT Shares Climbed 3% as Fiscal Q3 DPU Rises Over 5%Meanwhile, SPH Reit recorded an occupancy rate of 98. 2% y-o-y) was in line, forming 79% of our 16-month FY22F. Photo: Samuel Isaac Chua/The Edge Singapore. 98% (or 2,076,990,163) of the votes for, and 0. SPH Real Estate Investment Trust (Reit) will be renamed to Paragon Reit as the name change will better reflect the trust’s vision and mission to capture unique opportunities in the Asia-Pacific retail landscape, the Reit manager said on Thursday (Dec 29). 8 million changing hands. 5m) from a fund (Australian Prime Property Fund – Retail) which is managed by Lendlease Real Estate. Share Price as of: -. Given that the markets usually pay for the long-term financial health of a company, we wonder if the current momentum in the share. THE BUSINESS TIMES SPH Reit - Find SPH Reit News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. In its regulatory filing furnished to. SPH REIT maintained a solid portfolio occupancy rate of 97. 0 / 0 %. $12. On 29th April 2022, SPH REIT announced that Cuscaden Peak Pte Ltd will make a Chain Offer of S$0. 07 Aug 2023. SPH REIT maintained its strong portfolio occupancy rate of 97. 1 per cent at 89 cents. This will bring the number of SPH REIT units to be acquired by the offerer and its. 782 SPH REIT units per share. Follow us on Facebook and join our Telegram channel for the latest updates. It divides the Forward Annualized Dividend by FY1 EPS. 2. 3 billion in borrowings at a gearing ratio of 30 per cent and a weighted average term to maturity of 2. PRESS RELEASE. SPH REIT - SG2G02994595 - SK6U. I believe the improvement was because its assets (Paragon) in Singapore benefited from the easing of COVID-19 restriction measures and thus saw improvements both in. SPH REIT published this content on 27 May 2022 and is solely responsible for the information contained therein. SPH REIT Units are not obligations of, deposits in, or guaranteed by the SPH REIT Manager or any of its affiliates. This came following the completion of an offer by Cuscaden to take Singapore Press Holdings (SPH) private, which resulted in Cuscaden and its concert parties owning 47. 5 cents per share, and 0. In all, this values SPH at $3. 5 cent, or 0. 9640 per unit on 29 April 2022. 1. 9% above the NAV as at 28 February 22. 2% for the last year. 40 per share, comprising $1. 020 per SPH REIT Unit as at 12 November 2021, being the Last Trading Day. 36. 782 SPH REIT units per share. 14. The counter code of the REIT will remain unchanged at SK6U. completed the acquisition of an additional 14. SPH Reit, a real estate investment trust, will change its name to Paragon Reit to better reflect its vision and mission in the Asia-Pacific retail landscape. 099 per share. 782) + Cash ($1. Share Price as of: -. It is relatively lower than other retail REITs with gearing ratio typically above 30%. The portfolio of SPH REIT comprises the following five quality and well located commercial properties in Singapore and Australia:SPH REIT can select one or more attributes in terms of products and services that customers in the Real Estate Operations values most. Barrie ON - Head Office: Phone – Direct (705) 725-6020 Phone – Toll Free 1–844-474-9620 Fax (705) 725-8026. A wellmanaged shopping mall in an area with a growing catchment population would be a good pipeline asset for SPH REIT, which currently holds Paragon and The Clementi. We are committed to providing timely, high quality information to investors interested in key performance ratios, financial news or results. SPH REIT's (SGX:SK6U) top owners are individual investors with 33% stake, while 31% is held by private companies. With Keppel REIT and SPH REIT trading at S$1. 48K subscribers. Download Telegram About. The tenant sales are positive for both Clementi Mall and Westfield while marginal drop for Paragon. SPH REIT is managed by SPH REIT Management Pte. the SPH REIT Chain Offer will not be made unless as a result of the Cuscaden Scheme and the election by SPH Eligible Shareholders for the All Cash Consideration, Cuscaden and its concert parties own 30 per cent. This REIT essentially formed 25% of their EPS or DPS. Ltd. Market / ISIN Code: SGX Mainboard / SG2G02994595. Blog. SPH's dividend yield, history, payout ratio, proprietary DARS™ rating & much more! Dividend. 5m sqft across a three-storey retail mall,. However, when SPH REIT reported its first-half fiscal year 2020 (FY 2020) earnings, it announced that the DPU would be just S$0. 0. SPH REIT Units (via DIS) S$0. 3) 0. 4bn as at 1 April 2021. Consequently, portfolioDisclaimer. 975), it is valued at $2. Securities Act"), and may not be offered or sold in the United States absent registration or an exemption. SPH REIT published this content on 16 February 2022 and is solely responsible for the information contained therein. . 099 per share when it was tabled. 3 million (0. 2%. In this post, you will find a summary (which I've compiled) of the CEO's presentation, questions which fellow attendees have raised during the meeting and responses provided by the management, along with results of 12. The Company invests in a portfolio of income-producing real estate primarily for retail purposes in Asia- Pacific, as well as real estate-related assets. 596 Keppel Reit unit (valued at $0. SPH REIT published this content on 21 December 2021 and is solely responsible for the information contained therein. SPH bidding war ‘imminent’: UOB analysts. 73. Apr 29, 2022, 8:05 AM SGT SINGAPORE ( THE BUSINESS TIMES) - Cuscaden Peak will offer to acquire SPH Reit at 93. 10%) and increased value of Keppel REIT and SPH REIT. SPH REIT (SGX:SK6U), a pure-play retail REIT with properties in Singapore and Australia, released its results for the first half of the financial year 2021/22 last Friday evening (01 April 2022. 9% less than the total consideration. Disclaimer. The Board and Management firmly believe that success and prosperity depend upon our adherence to ethical business conduct. The REIT justified its action based on challenging conditions in both their Singapore and Australian malls. Join. 14. 30pm, to seek unitholders' approval on the following: (i) The proposed acquisitions of the remaining 50. Gross. SPH REIT. It is well served by the Hillview MRT station about 250 metres away and a network of public bus services. S. The Manager’s key objective for SPH REIT is to provide Unitholders with regular and stable. My Stocks. is registered as Private Limited Company with its address 79. To capitalize SPH Media with initial resources, SPH will provide a one-time injection of funds to it (akin to a “divorce fee”). Payment Of Management Fees (Base Fee) By Way Of Issue Of Units In SPH. 54%. 36 per cent of total issued units, according to a bourse filing on Thursday (Jun 30) night. SPH REIT’s Portfolio: With a total of just 2 retail malls during its IPO (Paragon and The Clementi Mall), CEO Ms Susan Leng shared that its portfolio have expanded to 5 malls – with The Rail Mall acquired in June 2018, an 85% stake in the Figtree Grove (in Australia) acquired in December 2018, and a 50% stake in Westfield Marion (in. If that happens, Cuscaden will make a takeover offer at 96. SPH REIT Discloses Valuation of Shopping Malls 2022: MT Paragon REIT Reports Earnings Results for the Full Year Ended August 31, 2022 2022: CI SPH REIT Announces Distribution for the Period from 1 June 2022 to 31 August 2022, Payable on 25 November 2022 Grant Of Award And Notice Of Transfer Of SPH REIT Units Under Performance Unit Award. 9m SPH shares, valued at S$10m), as well as SPH’s. 3 Key Takeaways from me on the Rival SPH offer. 07 / share. 96. SPH REIT renames to Paragon REIT from January 3rd, 2023. 782 SPH REIT shares with an indicative value of. All Island Equity REIT is a diversified real estate investment trust that is focused on British Columbia with around $215 million of assets on Vancouver Island. WITH its offer to acquire Singapore Press Holdings (SPH) having been approved by shareholders of the mainboard-listed property player, Cuscaden Peak has started despatching to shareholders the forms for them to choose between getting all cash or a combination of cash and SPH Reit SK6U units. SPH REIT invests, directly or indirectly, in a portfolio of income-producing real estate which is used primarily for retail purposes in Asia-Pacific, as well as real estate related assets. 02. 9% and 8. Sector / Industry / Sub-Industry: Real Estate / Equity Real Estate Investment Trusts (REITs) / Retail REITs. 782 SPH REIT units valued at S$0. 74 pence. 7m (+3. Morgan Stanley Asia, on behalf of Cuscaden Peak, said the Ong Beng Seng-led consortium has received valid acceptances of its chain offer of an aggregate of 130,059,351 offer units, representing approximately 4. Stock Articles. Ltd. 782 of an SPH Reit unit through a distribution-in-specie by SPH. In its annual report for 2021, you can find out how it performed in a challenging year, its financial results, its portfolio overview, its sustainability initiatives, and its future outlook. SPH REIT is a real estate investment trust that invests in income-producing retail malls in Singapore and Australia. CapitaLand Ascendas Reit was among the most actively traded by value, with 24 million units worth $67. 3. Issued by SPH REIT Management Pte. Ltd. 8% y-o-y) and NPI of S$202. The Company invests in a portfolio of income-producing real estate primarily for retail purposes in Asia- Pacific, as well as real estate-related assets. 4. Follow us on Facebook and join our Telegram channel for the latest updates. LTD. Join the Membership. 1 day ago · Synopsis: Hosted by senior correspondent Leslie Yee, PropertyBT from The Business Times shares insights on all things Singapore property to help you on your property investment journey. Currently SPH REIT is the subject of a mandatory chain offer for all its units by Cuscaden Peak Pte Ltd (the "Chain Offer" ), and under the Singapore Code of Take-overs and Mergers, directors of SPH REIT are not allowed to resign during the offer period unless certain conditions are satisfied or with the express approval of the Securities. 3 = $293 mil. It owns three retail assets in Singapore, with Paragon Mall within the Orchard Road district as its anchor asset in Singapore and two retail malls in Australia. 9 per cent higher at $2. As at 10. 782 SPH REIT Unit valued at S$0. 716 per share from a distribution in-specie by SPH. (PBSA) portfolio, SPH REIT’s Figtree Grove and Rail Mall, which helped to offset declines in its media revenue. As part of the renewal process of the Board, Mr.