Adani Group’s PR team is putting in long hours at the Ahmedabad headquarters (Getty Images)
In today’s roundup of regional news headlines, India’s Adani Group rips an unflattering report by Hindenburg Research and questions the short-seller’s motives.
Adani Fires Back After Short-Seller Fraud Accusations
A “maliciously mischievous, unresearched report” published by Hindenburg Research on Tuesday has adversely affected Adani Group, its shareholders and its investors, according to a company representative, who said the volatility in Indian stock markets sparked by the report has led to unwanted anguish for India’s citizens.
“Clearly, the report and its unsubstantiated contents were designed to have a deleterious effect on the share values of Adani Group companies as Hindenburg Research, by their own admission, is positioned to benefit from a slide in Adani shares,” said Adani Group legal head Jatin Jalundhwala. Read more>>
Las Vegas Sands Narrows Q4 Loss to $269M as Macau Business Drags
Las Vegas Sands has reported a net loss of $269 million for the three months to 31 December 2022, narrowed from the $315 million loss in 2021’s fourth quarter and $472 million in the preceding quarter.
The result was again affected by the pandemic situation in Macau, where subsidiary Sands China saw revenue fall 31.7 percent year-on-year to $439 million, with net loss widening from $245 million a year earlier to $348 million. Read more>>
Japan’s Optage Builds Fifth Data Center in Osaka
Japan-based Optage on Tuesday announced plans to build the digital infrastructure firm’s fifth data center in Osaka.
Optage operates multiple data centers in Osaka. The new location is close to access points of popular public clouds and internet exchanges and can communicate with low latency, the company said. Read more>>
Singapore Industrial Space Rents, Prices Rose 2% in Q4 2022
Rentals and prices of Singapore industrial developments rose for the ninth straight quarter in the last three months of 2022 amid growing inflationary pressures, according to JTC’s market report released Thursday.
Industrial space rentals gained 2.1 percent on a sequential basis and 6.9 percent year-on-year. This brought full-year rental growth to 6.9 percent, an acceleration from 2021’s 2 percent, even as the pandemic eased through 2022, said Tricia Song, CBRE’s head of research for Southeast Asia. Read more>>
DLF Posts 37% Rise in Q3 Profit on Reduced Costs and Stable Demand
Indian real estate developer DLF reported a nearly 37 percent rise in quarterly profit on Wednesday, helped by a fall in expenses and rising demand for various housing projects.
New Delhi-based DLF, India’s biggest real estate company by market capitalisation, posted a consolidated net profit of INR 5.19 billion ($63.6 million) for the quarter ended 31 December, up from INR 3.79 billion a year earlier. Read more>>
Indian Real Estate Investment to Grow by 32% in 2022: CBRE
Indian real estate investment grew by 32 percent to an all-time high of $7.8 billion, according to CBRE.
On a quarterly basis, investments in Indian real estate stood at $2.3 billion in the October-December quarter, up 64 percent from the previous three-month period and surging 115 percent year-on-year, the consultancy said in its India Market Monitor report . Read more>>
India’s TriVeda Capital Launches Fund to Invest in Realty Projects
TriVeda Capital, a real-estate-focused alternative investment fund, is raising INR 200 crore ($24.5 million) with a green-shoe option of INR 50 crore to invest in planned development projects.
The fund is expecting to raise INR 200 crore in the coming year with its first closing in the next few quarters, said partner P Ravindra Pai. Read more>>
No Joy for Malaysia’s Property Sector From China’s Reopening
After nearly three years of self-imposed isolation, China finally reopened its borders on Jan 8, and Asean countries including Malaysia are expecting millions of Chinese tourists to return this year.
The reopening story has raised hopes among Malaysian real estate players who are striking a bullish tone about the return of Chinese investment in properties. Read more>>
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