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regal real estate investment (1881) Details

Regal Real Estate Investment Trust and its subsidiaries own and invest in hotel and hospitality related properties in Hong Kong. It owns five hotel properties, including Regal Airport Hotel, Regal Hongkong Hotel, Regal Kowloon Hotel, Regal Oriental Hotel, and Regal Riverside Hotel. The company was formed on December 11, 2006 and is based in Causeway Bay, Hong Kong.

Founded in 2006

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regal real estate investment (1881) Key Developments

Regal REIT Reports Unaudited Consolidated Financial Results for the Six Months Ended June 30, 2016

Regal REIT reported unaudited consolidated financial results for the six months ended June 30, 2016. For the six months, the company reported profit before distribution to unit holders of HKD 328.6 million, as compared to a loss of HKD 1,376.9 million reported in the corresponding period in 2015. Based on the market valuations appraised by the principal valuer of Regal REIT as of June 30, 2016, the fair value of Regal REIT's investment properties portfolio has increased by HKD 88.0 million over its last appraised value as of December 31, 2015. This fair value gain has been reflected in its results for the interim period, while for the comparative period last year, a fair value loss of HKD 1,631.4 million was recorded. If these fair value changes are excluded, the core profit before distributions to unit holders for the period under review would amount to HKD 240.6 million, as compared to HKD 254.6 million for the same period in 2015.

Regal REIT Enters into New Facility Agreement with New Lenders of Up to HKD 4,500.0 Million and Revolving Loan Facility of Up to HKD 1,000.0 Million

On 12 September 2016, Regal REIT, through the Borrowers, entered into the New Facility Agreement with the New Lenders. Under the New Facility Agreement, the New Lenders will provide to the Borrowers a term loan facility of up to HKD 4,500.0 million and a revolving loan facility of up to HKD 1,000.0 million. The new facilities will bear interest at HIBOR plus 115 basis points per annum, while an interest payment period of one-month, two-month, three-month or, subject to the availability to all new lenders, a six-month period may be selected by the borrowers from time to time. The final maturity of the new facilities is on September 10, 2021, which is five years from the date of execution of the new facility agreement. The New Facilities will be subject to the granting of security by the company and its relevant special purpose vehicles including a debenture incorporating a legal charge or a mortgage and assignment of rights over four of the five Initial Hotel Properties in Hong Kong, namely, Regal Airport Hotel, Regal Hongkong Hotel, Regal Oriental Hotel and Regal Riverside Hotel, charges over the bank accounts of the four property companies holding these hotels, a guarantee given by DB Trustees (Hong Kong) Limited and other security usual and customary for similar financing transactions. The New Term Loan Facility will be wholly used to early refinance the outstanding principal amount of HKD 4,500.0 million under the Existing Term Loan Facility that will mature on July 20, 2018. The full drawdown of the New Term Loan Facility is expected to take place on or before September 30, 2016 for the repayment of the existing term loan facility. The new revolving loan facility will be used for general corporate funding purposes of the company including, but not limited to, new acquisitions and the continuing upgrading of company's existing property portfolio.

Regal REIT Presents at 7th Daiwa REIT Day 2016, Sep-12-2016

Regal REIT Presents at 7th Daiwa REIT Day 2016, Sep-12-2016 . Venue: Daiwa's Hong Kong Office, Level 28, One Pacific Place, 88, Queensway, Hong Kong. Speakers: Johnny Chen, Executive Director-Asset Management, Simon Lam, Executive Director-Finance.


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Valuation 1881 Industry Range
Price/Earnings 37.8x
Price/Sales 6.8x
Price/Book 0.5x
Price/Cash Flow 36.1x
TEV/Sales NM Not Meaningful

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