HwangDBS IM Declares Income Distribution for the flagship global feeder fund: HwangDBS Global Property Fund

Kuala Lumpur, 19 November 2009 – HwangDBS Investment Management Berhad (“HwangDBS IM” or “the Company”) declared an interim income distribution for its flagship global feeder and income type fund, the HwangDBS Global Property Fund (“GPF”).

HwangDBS IM declared an interim gross income distribution of 1.00 sen for GPF’s financial period ending 30 November 2009. This is its ninth distribution since the Fund’s launch on 19 April 2006. All GPF unit holders registered as at 13 November 2009 were eligible to receive the income allotment. To date, GPF distributed a total income of 10.50 sen.

Teng Chee Wai, Chief Executive Officer and Executive Director of HwangDBS IM commented, “HwangDBS IM is pleased to be able to continue declaring income distributions for GPF and at the same time, meet with the expectations of those who have invested with us.” 

Furthermore, Teng commented that real estate markets are recovering and credit markets are re-opening. The global Real Estate Investment Trust (“REIT”) markets had a particularly strong third quarter and were a clearly outperformers compared to all other sectors. Moreover, investors’ sentiments turned positive as positive news flow on signs of economic recovery worldwide, especially from the US, led to the market rally in the REITs sector. It will be a while before the property market will return to a semblance of normalcy especially in the US.

In closing, REITs has continued to move ahead and broader market confidence was sustained by continued optimism regarding the U.S. economic outlook and dramatic improvements in credit market. Thus, in line with a positive medium term outlook, HwangDBS IM will continue to focus on high quality companies armed with healthy balance sheets and the potential to undertake accretive acquisitions.