Corporate digest

Dasin Retail Trust

DASIN Retail Trust's revenue for its full portfolio for the first fiscal quarter of 2021 ended March rose 87.4 per cent on a year-on-year basis despite the impact of the Covid-19 pandemic, the trustee-manager said in a business update on Monday.

The trust's topline figure is based on revenue in yuan, and excluded rental income recognised on a straight-line basis over the lease term.

Revenue from four of the trust's retail malls - namely Shiqi Metro Mall, Xiaolan Metro Mall, Ocean Metro Mall and Dasin E-Colour - had also recovered to 94 per cent of pre-pandemic levels in Q1 FY2021.

Jumbo Group

JUMBO Group announced on Monday that it will be opening two new food and beverage (F&B) outlets for its brands Tsui Wah and Kok Kee Wanton Noodle, in the middle of Singapore's current Covid-19 restrictions where dining-in is not allowed to stem the growing number of Covid-19 community cases.

The new Tsui Wah outlet is located at Jem in Jurong East, cccupying a total floor area of approximately 3,000 square feet. The outlet has a maximum seating capacity of 134 seats, which will be available for indoor dining when the heightened Covid-19 measures are relaxed. As of now, this new outlet will provide delivery and takeaway services for all items on the menu.

Roxy-Pacific Holdings

MEQUITY Hills, an indirect associate of property player Roxy-Pacific Holdings, has entered into an agreement to acquire a 999-year leasehold residential site for S$23 million.

The site, which is located at 11 Institution Hill, has an estimated total land area of 5,539 sq ft and a plot ratio of 2.8 under the 2019 Master Plan for residential development, said Roxy-Pacific in a bourse filing after market close on Monday.

Mequity Hills had previously announced its intention to amalgamate the site at 11 Institution Hill with another 999-year leasehold residential site at 10A and 10B Institution Hill that it had acquired for S$33.6 million. The amalgamated site will have an estimated total land area of 14,300 sq ft with a total gross floor area of 40,040 sq ft for residential development.