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Managers of A-HReit, Ascendas Hospitality Business Trust say Osaka property not damaged after quake

MANAGERS of Ascendas Hospitality Real Estate Investment Trust (A-HReit) and Ascendas Hospitality Business Trust on Monday night said that the group's property in Osaka has not suffered any physical damage, following a strong earthquake in western Japan. 

Besides Ascendas Hospitality Trust's (A-HTrust) property in Osaka, Hotel Sunroute Osaka Namba, no physical damage was also detected on the three properties A-HTrust has proposed to acquire in Osaka for 10.3 billion yen (S$126.1 million), the managers said. 

The Straits Times earlier reported that the strong earthquake that rattled Osaka early on Monday left at least four people dead – a nine-year-old girl, two men and one woman in their 80s – and at least 350 others injured.

The tremor, which the Japan Meteorological Agency said was at magnitude 6.1 at a relatively shallow depth of 13km, shook the western Japan prefecture at 7.58am local time (6.58am Singapore time).

Several areas were flooded by water gushing out of burst water mains, while news pictures also showed felled signs at a train station, and shops in disarray with products thrown off their shelves.

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More than 170,000 homes were hit by blackouts while gas supply to some 110,000 homes was cut. Power was restored within two hours, but piped gas supply will only resume in eight to 12 days, according to Osaka Gas Co.

A-HTrust is a stapled trust comprising A-HReit, and Ascendas Hospitality Business Trust.

A-HTrust last traded at S$0.77 per unit on Monday, down 0.65 per cent, or 0.5 Singapore cent; while A-Reit last traded at S$2.61 per unit down 0.38 per cent, or one Singapore cent. 

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