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North America Vegetable Oils Market Projected to Reach 32.89 Million Tonnes by 2026; Increasing Demand for Natural and Healthy Edible Oils to Boost Growth

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North America vegetable oils market is likely to gain momentum from a rise in the demand for healthy edible oils that are infused with natural ingredients. According to a report published by Fortune Business Insights, titled “North America Vegetable Oils: Market Analysis, Insights and Forecast, 2019-2026,” the consumption of vegetable oil in North America was 22.89 Million Tonnes in 2018. But it is projected to reach 32.89 Million Tonnes by the end of 2026, exhibiting a CAGR of 4.7%.

Browse Complete Report [email protected] https://www.fortunebusinessinsights.com/industry-reports/north-america-vegetable-oils-market-101012

Growth of the Processed Food and Foodservice Industries to Boost Market Growth

The report suggests that North America has been witnessing a growth of processed food industry in the recent years. Additionally, there has been a growth of the foodservice industry in the region. These two factors will help in boosting the North America vegetable oils market growth. Moreover, there has been a rise in the awareness campaigns regarding the harmful effects of consuming unrefined and saturated fats that are procured from animals. This will further propel the North America vegetable oils market sales during the forecast period.

Companies Adopt Resilient Marketing Strategies to Propel Market in North America

The prominent market players operating in the North America vegetable oils market are persistently implementing flexible marketing strategies in order to promote healthy vegetable oils sales in the region. Canada and Mexico have also been exhibiting growth in the oil processing industry. These factors are likely to increase North America vegetable oils market revenue. Furthermore, the key market players are currently concentrating on innovative packaging strategies, new product launches, expansion of product portfolio, and clean-labeling procedures. Their strategic efforts have already started to put positive impact on the vegetable oils market in North America. The companies are also investing huge sums in the production of edible oils that are healthier than the commodity oils. They are offering such types of edible oils at very reasonable rates to attract the consumer that will further propel the market.

Get PDF Brochure of this [email protected] https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/north-america-vegetable-oils-market-101012

Calyxt, Inc., Richardson International Limited, and Other Key Players Strengthen their Positions through Innovative Product Launch and Strategic Acquisitions

Richardson International Limited, an agricultural and food industry company headquartered in Canada, announced that it has acquired Wesson, a leading retail brand of vegetable oils and canola, based in the U.S. in February 2019. The acquisition is considered to be very significant for Richardson as it will aid in bolstering and growing the company’s food and ingredients business. This will not only boost the market in North America, but also enhance the company’s capability to fulfill the unmet needs of the masses across the globe.

Calyxt, Inc., a consumer-centric food- and agriculture-focused company, headquartered Minnesota, announced the launch of its ‘Calyno High Oleic Soybean Oil’. It is the company’s first product that is being sold in the U.S. market. Primarily, Calyno oil was sold commercially to the foodservice industry for salad dressing, frying, and sauce application. The oil consists of approximately 20% less saturated fatty acids, up to 80% oleic acid, and zero grams of trans fat per serving, unlike the commodity soybean oil. One of the most important benefits of this oil is that it possesses three times the extended shelf life as well as fry life as compared to commodity oils. This makes the Calyno oil more sustainable.

Fortune Business Insights has profiled some of the leading companies that have made significant growth contributions to the North America vegetable oils market. Some of the leading companies that are operating in the market are Archer Daniels Midland Company, Bunge North America Inc., Cargill Incorporated, ConAgra Foods Inc., Ag Processing Inc., Riceland Foods, Incobrasa Industries, ACH Food Companies Inc., Viterra Inc., Associated British Foods Plc (ABF), and other key market players.

More Trending Topics From Fortune Business [email protected]

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Intravenous Immunoglobulin (IVIG) Market To Reach US$ 15,789.1 Mn By 2025 | Fortune Business Insights

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Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

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Pacific Prime Launches First-Ever Report on Global Employee Benefits Trends

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Health insurance broker and employee benefits specialist Pacific Prime has announced the launch of their first-ever report on Global Employee Benefits Trends, providing an overview of the key trends and the forces shaping them.

The Global Employee Benefits Trends Report 2020 outlines the top 6 employee benefits trends, followed by an in-depth analysis of each trend. This is complemented by interesting statistics, case studies, as well as practical tips on how to implement the trends in question. Based on insights from Pacific Primes in-house employee benefits consultants, the trends are identified as follows:

— The refinement and reassessment of group health insurance coverage

— The adoption of technology

— Mental health benefits

— Family-friendly benefits

— Flexible working arrangements

— Financial wellbeing

Against the backdrop of the unprecedented COVID-19 pandemic this year, resulting in job insecurity, mass unemployment, as well as a rapid shift towards work-from-home policies, the report explores the shifting priorities of both employees and employers. In addition to the pandemic, the report also looks into the increasingly multi-generational workforce, as well as the need for a greater focus on diversity and inclusion.

Pacific Primes report serves as an important resource for employers during this time, examining how these key drivers impact the employee benefits trends, and how it might continue to do so in the years to come.

Download the free report to delve further into any of the aforementioned trends.

About Pacific Prime

Established in 1999 in Hong Kong, Pacific Prime is an award-winning health insurance broker and employee benefits specialist. The brokerage has a global presence, offering best-value insurance products and services to its individual and corporate clients.

To find out more about Pacific Prime, contact their expert advisors or visit: https://www.pacificprime.com/corporate.

Stephen Ho, Marketing Director – Pacific Prime and Kwiksure,

+852 3589 0508

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Fibra Macquarie México Reports Third Quarter 2020 Results and Provides Update on COVID-19 Impact

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FIBRA Macquarie Mxico (FIBRAMQ) (BMV: FIBRAMQ), owner of one of the largest portfolios of industrial and retail property in Mexico, announced its financial and operating results for the third quarter ended September 30, 2020.

THIRD QUARTER 2020 HIGHLIGHTS

  • AFFO per certificate of Ps. 0.6119, down 8.1% YoY
  • Average industrial rental rate increases of 2.3%; same store retail rental rates up 0.6% YoY
  • Consolidated occupancy of 93.7%, down 184 bps YoY and 138 bps QoQ
  • 96.0% of scheduled 3Q20 industrial rents collected as of October 26
  • Sequential reduction of 35.7% in net trade receivables
  • Total liquidity of US$271.7 million, comprised of US$236.1 million undrawn committed revolver credit facility and US$35.6 million cash at hand
  • Industrial development program gains momentum; investment made in a premium land parcel in the Mexico City Metropolitan Area to develop more than 700k sqft of industrial logistics GLA
  • 3Q20 cash distribution of Ps. 0.4750 per certificate authorized, up 4.4% YoY
  • FY20 AFFO per certificate guidance updated to a range of Ps. 2.56 to Ps. 2.59 from a prior range of Ps. 2.52 to Ps. 2.62
  • FY20 distribution guidance of Ps. 1.90 per certificate reaffirmed

During the third quarter, our industrial portfolio continued its resilient performance as demonstrated by our strong rent collection and easing of concessions. In our retail portfolio, the vast majority of stores have reopened for business, following the easing of government lockdowns, said Juan Monroy, FIBRA Macquaries chief executive officer. Our industrial portfolio continued its robust performance with increases in average rental rates and the benefits of largely U.S. dollar denominated rents contributing to a 12.6% YoY increase in net operating income. We experienced a slight contraction in occupancy as a few customers vacated our properties to accommodate changes to their business needs unrelated to the pandemic; we view this as an opportunity to participate in a supply constrained market. Industrial fundamentals remain strong across the country and we are cautiously optimistic about the leasing environment in the fourth quarter and into 2021. Our retail portfolio, anchored by essential businesses, continues to benefit from its defensive positioning in light of an uncertain consumer outlook. Over the past few years, we have progressively built a resilient business with a strong balance sheet and disciplined capital management strategy to support accretive growth initiatives as well as a sustainable distribution. We are confident in our strategic positioning as we have demonstrated the resilience of our platform in the near term, and in longer term growth opportunities as nearshoring manufacturing and logistics trends are expected to provide ongoing demand-side momentum.

COVID-19 PANDEMIC UPDATE

Since the onset of the COVID-19 pandemic, FIBRA Macquarie has undertaken a proactive response to prioritize the health and safety of its team members, customers and stakeholders. FIBRAMQs property management teams remain fully operational and responsive to the needs of FIBRAMQ customers and properties across its portfolio. In the third quarter, FIBRAMQ saw improvements in all key metrics related to rent collections and concessions, and customer openings.

With respect to FIBRAMQs total portfolio performance on a proportionally combined basis:

  • Rent concessions eased in 3Q20 to Ps. 43.2 million, lower by 63.0% versus 2Q20
  • Net trade receivables, excluding VAT, reduced to Ps. 73.3 million, sequentially lower by 35.7%, reflecting a combination of strong quarterly cash collections, along with a prudent level of credit loss provisioning
  • Cash collections increased to Ps. 1.11bn, up 12.3% from the prior quarter, with 95.0% of current quarter income collected

With respect to FIBRAMQs industrial portfolio:

  • Substantially all of FIBRAMQs industrial customers who temporarily suspended operations due to the pandemic have resumed operations, and rent collections have been strong
  • Through to October 26, 96.0% of scheduled 3Q20 rents were collected
  • Total rent concessions eased in the third quarter to Ps. 18.4 million, lower by 74.9% QoQ. Rent concessions comprised rent deferrals of Ps. 16.8 million, lower by 76.3% QoQ, and rent discounts of Ps. 1.6 million, lower by 34.1% QoQ
  • Total rent relief contracted or under negotiation represented approximately 2.7% of the industrial portfolio ABR, comprised of 2.6% rent deferrals and 0.1% rent discounts
  • FIBRAMQ collected 97.1% of its Ps. 38.1 million deferred rents scheduled for collection in 3Q20, through to October 26
  • FIBRAMQ is scheduled to collect deferred rents of Ps. 42.9 million in 4Q20 and Ps. 6.6 million in 1H21

With respect to FIBRAMQs retail portfolio:

  • All of FIBRAMQs shopping centers are supermarket anchored and have remained open since the onset of the pandemic. While most non-essential businesses have reopened, many are operating at reduced hours and/or with capacity limits, providing for challenging trading conditions.
  • Through to October 26, 96.9% of GLA and 95.0% of ABR was open, respectively
  • Total rent concessions declined in the third quarter to Ps. 24.8 million, lower by 43% QoQ. 3Q20 rent concessions comprised rent discounts of Ps. 22.8 million, lower by 41.3% QoQ, and rent deferrals of Ps. 2.0 million, lower by 57.6% versus the prior comparable quarter
  • With respect to 3Q20 rent deferrals of Ps. 2.0 million, FIBRAMQ is scheduled to collect 26.3% in 4Q20, 60.5% in 1H21 and 13.1% in 2H21
  • Through to October 26, 86.3% of scheduled 3Q20 rents were collected
  • Cash collections increased by 10.4% on a sequential basis, totaling Ps. 109.8 million, assisted by tenants settling prior period receivables of Ps. 9.5 million

FIBRAMQ has provided enhanced COVID-19 related disclosures for its rent collections, retail center store openings, rent relief and trade receivables as part of its Third Quarter 2020 Supplementary Information materials, located at www.fibramacquarie.com/investors/bolsa-mexicana-de-valores-filings.

FINANCIAL AND OPERATING RESULTS

Consolidated Portfolio

FIBRAMQs total results were as follows:

TOTAL PORTFOLIO

 

3Q20

 

3Q19

 

Variance

 

YTD20

 

YTD19

 

Variance

Net Operating Income (NOI)

 

Ps 906.9m

 

Ps 869.9m

 

4.2%

 

Ps 2,822.4m

 

Ps 2,544.8m

 

10.9%

EBITDA

 

Ps 841.4m

 

Ps 816.0m

 

3.1%

 

Ps 2,633.5m

 

Ps 2,384.5m

 

10.4%

AMEFIBRA Funds From Operations

 

Ps 576.3m

 

Ps 593.9m

 

-3.0%

 

Ps 1,841.9m

 

Ps 1,674.0m

 

10.0%

Funds From Operations (FFO)

 

Ps 574.6m

 

Ps 591.7m

 

-2.9%

 

Ps 1,836.7m

 

Ps 1,732.1m

 

6.0%

FFO per certificate

 

0.7544

 

0.7699

 

-2.0%

 

2.4079

 

2.2508

 

7.0%

Adjusted Funds From Operations (AFFO)

 

Ps 466.1m

 

Ps 512.0m

 

-9.0%

 

Ps 1,523.2m

 

Ps 1,485.0m

 

2.6%

AFFO per certificate

 

0.6119

 

0.6661

 

-8.1%

 

1.9969

 

1.9298

 

3.5%

NOI Margin

 

86.8%

 

88.8%

 

-203 bps

 

87.9%

 

88.1%

 

-22 bps

AFFO Margin

 

44.6%

 

52.3%

 

-767 bps

 

47.4%

 

51.4%

 

-398 bps

GLA (000s sqm) EOP

 

3,183

 

3,194

 

-0.3%

 

3,183

 

3,194

 

-0.3%

Occupancy EOP

 

93.7%

 

95.6%

 

-184 bps

 

93.7%

 

95.6%

 

-184 bps

Average Occupancy

 

93.7%

 

95.7%

 

-206 bps

 

94.7%

 

95.0%

 

-27 bps

FIBRAMQs same store portfolio results were as follows:

TOTAL PORTFOLIO – SAME STORE

 

3Q20

 

3Q19

 

Variance

 

YTD20

 

YTD19

 

Variance

Net Operating Income

 

Ps. 901.8m

 

Ps. 845.6m

 

6.6%

 

Ps. 2,604.0m

 

Ps. 2,342.6m

 

11.2%

Net Operating Income Margin

 

86.9%

 

88.5%

 

-168 bps

 

88.7%

 

88.9%

 

-16 bps

Number of Properties

 

250

 

250

 

0

 

250

 

250

 

0

GLA (000s sqf) EOP

 

34,061

 

34,082

 

-0.1%

 

34,061

 

34,082

 

-0.1%

GLA (000s sqm) EOP

 

3,164

 

3,166

 

-0.1%

 

3,164

 

3,166

 

-0.1%

Occupancy EOP

 

93.7%

 

95.5%

 

-184 bps

 

93.7%

 

95.5%

 

-184 bps

Average Monthly Rent (US$/sqm) EOP

 

5.20

 

5.27

 

-1.3%

 

5.20

 

5.27

 

-1.3%

Industrial Customer Retention LTM EOP

 

81.6%

 

85.9%

 

-433 bps

 

81.6%

 

85.9%

 

-433 bps

Weighted Avg Lease Term Remaining (years) EOP

 

3.4

 

3.5

 

-3.5%

 

3.4

 

3.5

 

-3.5%

Percentage of US$ denominated Rent EOP

 

77.6%

 

73.5%

 

408 bps

 

77.6%

 

73.5%

 

408 bps

Industrial Portfolio

The following table summarizes the results for FIBRAMQs industrial portfolio:

INDUSTRIAL PORTFOLIO

 

3Q20

 

3Q19

 

Variance

 

YTD20

 

YTD19

 

Variance

Net Operating Income (NOI)

 

Ps 812.1m

 

Ps 721.2m

 

12.6%

 

Ps 2,404.0m

 

Ps 2,092.7m

 

14.9%

NOI Margin

 

90.7%

 

92.3%

 

-160 bps

 

91.5%

 

91.8%

 

-30 bps

GLA (000s sqft) EOP

 

29,699

 

29,511

 

0.6%

 

29,699

 

29,511

 

0.6%

GLA (000s sqm) EOP

 

2,759

 

2,742

 

0.6%

 

2,759

 

2,742

 

0.6%

Occupancy EOP

 

94.0%

 

95.9%

 

-190 bps

 

94.0%

 

95.9%

 

-190 bps

Average Occupancy

 

93.9%

 

96.1%

 

-219 bps

 

95.1%

 

95.3%

 

-24 bps

Average monthly rent (US$/sqm) EOP

 

$4.98

 

$4.86

 

2.3%

 

$4.98

 

$4.86

 

2.3%

Customer retention LTM

 

79.7%

 

85.9%

 

-620 bps

 

79.7%

 

85.9%

 

-620 bps

Weighted Avg Lease Term Remaining (years) EOP

 

3.3

 

3.3

 

-0.1%

 

3.3

 

3.3

 

-0.1%

For the quarter ended September 30, 2020, FIBRAMQs industrial portfolio delivered NOI of Ps. 812.1 million, up 12.6% versus the prior comparable period. This increase was driven by a depreciation of the Mexican Peso and contracted annual rent increases, partially offset by lower average occupancy. Approximately 93% of FIBRAMQs industrial ABR is US dollar denominated, consistent with historic levels. Average rental rates increased 2.3% on an annual basis, driven by contractual increases and positive leasing spreads on renewal leases.

As of September 30, 2020, gross trade receivables were Ps. 165.8 million (excl. VAT), while trade receivables net of credit loss provisions were Ps. 56.1 million (excl. VAT). FIBRAMQ property level expenses included non-cash credit loss provisions of Ps. 15.7 million, reflecting a prudent approach to trade receivable provisions across selected tenants.

During the quarter, FIBRAMQ signed 14 new and renewal leases, comprising 1.0 million square feet of GLA. FIBRA Macquarie executed on four new leases totaling 293 thousand square feet and 10 renewal leases totaling 673 thousand square feet. Offsetting the new and renewal leases was 741 thousand square feet that was vacated by five customers who did not renew their leases at the expiration of those contracts. This contributed to a retention rate of 79.7% for the last twelve months.

For detail on FIBRAMQs same store industrial portfolio results, please refer to Third Quarter 2020 Supplementary Information materials located at www.fibramacquarie.com/investors/bolsa-mexicana-de-valores-filings

Retail Portfolio

The following table summarizes the proportionally combined results of operations for FIBRAMQs retail portfolio:

RETAIL PORTFOLIO

 

3Q20

 

3Q19

 

Variance

 

YTD20

 

YTD19

 

Variance

Net Operating Income (NOI)

 

Ps 94.8m

 

Ps 148.7m

 

-36.2%

 

Ps 418.4m

 

Ps 452.1m

 

-7.5%

NOI Margin

 

63.4%

 

75.1%

 

-1169 bps

 

71.7%

 

74.3%

 

-263 bps

GLA (000s sqft) EOP

 

4,562

 

4,865

 

-6.2%

 

4,562

 

4,865

 

-6.2%

GLA (000s sqm) EOP

 

424

 

452

 

-6.2%

 

424

 

452

 

-6.2%

Occupancy EOP

 

92.1%

 

93.7%

 

-158 bps

 

92.1%

 

93.7%

 

-158 bps

Average Occupancy

 

92.2%

 

93.6%

 

-141 bps

 

92.8%

 

93.4%

 

-58 bps

Average monthly rent per leased (Ps/sqm) EOP

 

$153.78

 

$162.22

 

-5.2%

 

$153.78

 

$162.22

 

-5.2%

Customer retention LTM

 

65.0%

 

80.8%

 

-1,580 bps

 

65.0%

 

80.8%

 

-1,580 bps

Weighted Avg Lease Term Remaining (years) EOP

 

3.7

 

4.2

 

-13.2%

 

3.7

 

4.2

 

-13.2%

For the quarter ended September 30, 2020, FIBRAMQs retail portfolio delivered NOI of Ps. 94.8 million, compared with Ps. 148.7 million in the third quarter of 2019.

Average rental rates across FIBRAMQs retail portfolio decreased by 5.2% versus the prior comparable period as contractual increases and positive new and renewal rental rate spreads were offset by the impact of a lease termination involving a prime Mexico City property in the first quarter of 2020. Excluding the impact of that move-out, average rental rates increased 0.6% year over year.

FIBRAMQ signed 32 retail leases, representing 4.3 thousand square meters during the third quarter including 9 new leases and 23 renewals. The retail retention rate was 53% for the quarter and 65% for the last twelve months. The reduced renewal activity was driven primarily by closures of non-essential small shops as a result of the pandemic. As of September 30, 2020, proportionately combined Retail portfolio gross trade receivables were Ps. 104.7 million (excl. VAT). Trade receivables net of credit loss provisions were Ps. 17.1 million (excl. VAT). Property level expenses excluding non-cash credit loss provisions, totaled Ps. 43.2 million for the third quarter, down 9.0% versus the prior comparable period as a result of effective cost controls.

For detail on FIBRAMQs same store retail portfolio results, please refer to Third Quarter 2020 Supplementary Information materials located at www.fibramacquarie.com/investors/bolsa-mexicana-de-valores-filings

PORTFOLIO ACTIVITY

Industrial Development

During the third quarter, construction was substantially completed on a 217 thousand square foot industrial building in Ciudad Ju¡rez. FIBRAMQ is actively marketing the property and has a robust pipeline of leasing opportunities.

On September 14, FIBRAMQ acquired a 50.0% interest in a premium land parcel in the Mexico City Metropolitan Area. FIBRAMQ expects to develop more than 700k sqft of industrial logistics GLA on the site. This project is a continuation of FIBRAMQs successful strategy of disciplined industrial property development activity, and follows the completion of the two development projects in Ciudad Ju¡rez. This transaction represents a compelling opportunity for FIBRAMQ to develop class A industrial logistics facilities in one of the most prominent industrial corridors in Mexico. Additional benefits include increased portfolio diversification, added scale with high quality assets, and attractive risk-adjusted returns.

With a solid market backdrop, construction is expected to commence in the first half of 2021.

BALANCE SHEET AND LIQUIDITY

FIBRA Macquarie utilized surplus cash to repay US$90.0 million of its revolver facility during the quarter. As of September 30, 2020, FIBRAMQ had approximately Ps. 18.3 billion of debt outstanding, Ps. 5.3 billion available on its undrawn revolving credit facility and Ps. 0.8 billion of unrestricted cash on hand. FIBRAMQs indebtedness is 100% fixed rate and has a weighted-average debt tenor remaining of 5.3 years. FIBRAMQ does not have any material commitments with respect to capital expenditures and does not have any scheduled loan maturities until 2023.

FIBRAMQs CNBV regulatory debt to total asset ratio was 36.9% and its CNBV debt service coverage ratio was 4.4x.

CAPITAL MANAGEMENT STRATEGY

FIBRAMQs prudent capital management strategy remains a cornerstone of its consistent financial and operating results, highlighted by:

Prudent AFFO payout ratio: providing for resilient distributions over the longer term and efficient sourcing of capital for accretive investments

Asset recycling program: divesting non-core assets, enhancing overall portfolio quality to enable better performance through the economic cycle

Disciplined capital deployment: committing manageable amounts of capital to projects with a focus on accretive investments, including build to suit expansions and selective development projects at attractive returns, complemented with an opportunistic certificate repurchase for cancellation program

Responsible use of leverage: allowing for efficient access to revolving credit facilities, a weighted average debt tenor of 5.3 years and no loan maturities until 2023

CERTIFICATE BUYBACK FOR CANCELLATION PROGRAM

FIBRAMQ did not repurchase any certificates during the third quarter. FIBRAMQs certificate repurchase for cancellation program has a total remaining capacity of Ps. 1.0 billion through to June 25, 2021. Since launching the program in June 2017, FIBRA Macquarie has repurchased 49.7 million certificates. All repurchased certificates have or will be cancelled.

DISTRIBUTION

On October 28, 2020, FIBRAMQ declared a cash distribution for the quarter ended September 30 of Ps. 0.4750 per certificate. The distribution is expected to be paid on January 28, 2021 to holders of record on January 27, 2021. FIBRAMQs certificates will commence trading ex-distribution on January 26, 2021.

SUSTAINABILITY

FIBRA Macquarie published its second annual sustainability report in August, underscoring its belief that managing its portfolio sustainably is part of its responsibility to investors and the communities in which it operates. FIBRAMQ is committed to continuous improvement of its Environmental, Social and Governance (ESG) efforts. FIBRA Macquarie is also committed to enhancing transparency around its sustainability initiatives and its contributions towards a sustainable future.

Among other achievements highlighted in the report, FIBRA Macquarie confirmed that it has formally achieved LEED (Leadership in Energy and Environmental Design, Core and Shell Development) certification of its recently developed and fully leased industrial property in Ciudad Juarez, with plans for additional green building certifications for other properties within its portfolio over the next twelve months.

The link to FIBRA Macquaries sustainability report can be found here.

FY20 GUIDANCE

AFFO per certificate

FIBRA Macquarie now estimates total that it will generate AFFO per certificate of between Ps. 2.56 to Ps. 2.59 in FY20. This guidance is based upon the following assumptions:

  • An average exchange rate of Ps. 21.5 per US dollar for the fourth quarter, down from the prior assumption of Ps. 22.2 per US dollar
  • The continued relaxation of government restrictions regarding non-essential activities over the remainder of the year
  • No further deterioration in broader economic and market conditions
  • Timely collection of in-place scheduled rents, including contracted or expected deferred and discounted rents
  • No material increases in agreed rent discounts
  • No new acquisitions or divestments
  • No certificate repurchases

     

Distribution per certificate

FIBRAMQ reaffirms guidance of cash distributions for FY20 of Ps. 1.90 per certificate, with remaining FY20 quarterly distributions expected to be paid in equal instalments of Ps. 0.4750 per certificate in January 2021 and March 2021, respectively. The payment of cash distributions is subject to the approval of the board of directors of the Manager, stable market conditions and prudent management of FIBRAMQs capital requirements.

WEBCAST AND CONFERENCE CALL

FIBRAMQ will host an earnings conference call and webcast presentation on Wednesday, October 28, 2020 at 6:30 a.m. CT / 8:30 a.m. ET during which management will discuss FIBRA Macquaries financial results for the third quarter of 2020. FIBRA Macquarie will release third quarter 2020 results on Tuesday, October 27, 2020 after the close of the market. The conference call, which will also be webcast, can be accessed online at www.fibramacquarie.com or by dialing toll free +1-877-304-8957. Callers from Mexico may dial 01-800-926-9157 and other callers from outside the United States may dial +1-973-638-3235. Please ask for the FIBRA Macquarie Third Quarter 2020 Earnings Call with conference number 1387527. An audio replay will be available by dialing +1-855-859-2056 or +1-404-537-3406 for callers from outside the United States. The passcode for the replay is 1387527. A webcast archive of the conference call and a copy of FIBRA Macquaries financial information for the third quarter 2020 will also be available on FIBRA Macquaries website, www.fibramacquarie.com.

About FIBRA Macquarie

FIBRA Macquarie Mxico (FIBRA Macquarie) (BMV:FIBRAMQ) is a real estate investment trust (fideicomiso de inversi³n en bienes ra­ces), or FIBRA, listed on the Mexican Stock Exchange (Bolsa Mexicana de Valores) targeting industrial, retail and office real estate opportunities in Mexico, with a primary focus on stabilized income-producing properties. FIBRA Macquaries portfolio consists of 235 industrial properties and 17 retail properties, located in 20 cities across 16 Mexican states as of September 30, 2020. Nine of the retail properties are held through a 50/50 joint venture. For additional information about FIBRA Macquarie, please visit www.fibramacquarie.com.

Cautionary Note Regarding Forward-looking Statements

This release may contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ significantly from these forward-looking statements and we undertake no obligation to update any forward-looking statements.

None of the entities noted in this document is an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these entities do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL). MBL does not guarantee or otherwise provide assurance in respect of the obligations of these entities.

THIS RELEASE IS NOT AN OFFER FOR SALE OF SECURITIES IN THE UNITED STATES, AND SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED.

THIS ANNOUNCEMENT IS NOT FOR RELEASE IN ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA.

Investor relations contact:


Tel: +52 (55) 9178 7751

Email: [email protected]

Evelyn Infurna


Tel: +1 203 682 8265

Email: [email protected]

Nikki Sacks


Tel: +1 203 682 8263

Email: [email protected]

For press queries, please contact:


Flavio J. Díaz-Tueme


FleishmanHillard México

Tel: +52 (55) 5520 5460

Email: [email protected]

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News

Work From Office vs Home: Why the Office Remains in Japan’s Future Way of Working

gbafNews28

2020 has cast a new light on the need for flexible office spaces.

Over the course of the pandemic, the workspace model shifted from office to home in many countries. But as time reveals, the pandemic has highlighted the workforces need for an office space more than ever. Compass Offices is one step ahead with office solutions that meet the changing business landscape in the post-pandemic era.

In Japan, the work-from-home model reportedly produces challenges in terms of operational costs and productivity. Teleworking facilities for full-time employees are expected to cost Japans businesses ¥1.3 trillion a year. This while companies cite the lack of IT infrastructure and security protocols among reasons for why Japan is unequipped to work from home.

Even if work-from-home would provide an economic alternative, it does not always lead to an increase of productivity. Smaller apartments, lack of a workspace and in-living family members may impact the concentration and productivity more than the toil of daily commute can make up for. Not to forget that it diminishes important aspects an office environment provides “ clearer working hours, distinct work-life balance, defined work roles, greater team engagement, and a productive working environment.

This is when companies turn to flexible office providers like Compass Offices, that meet the market demand with private offices that are safe, business-ready, cost-effective, and promotes employee wellbeing.

Although Japan may not be ready for the home-working setup to allow extra agility for employees, major companies are definitely warming up to the idea of flexible workspaces over traditional offices to fill this gap.

Compass Offices provide flexible office rentals in Tokyos key business districts Shibuya and Minato at its Ebisu Green Glass and Toranomon 40MT Building business centres. Its serviced offices, shared offices, and coworking spaces are designed for safety, resilience, productivity, and scalability.

Ebisu Green Glass, the latest addition to the Tokyo network, is easily accessible at a short walk from the JR Ebisu Station and Tokyo Metro. The centre features bright and spacious offices, shared workspaces, boardroom and meeting rooms, as well as a complimentary Habitat business lounge that opens out to a 50sqm garden terrace.

As long as stock lasts, Compass Offices is offering workspaces for free in 2020 with a minimum 6-month sign up from 2021. Call +81 3 4530 9685 or email [email protected] for more information.

About Compass Offices

Compass Offices is a leading flexible office space provider in Asia Pacific. Founded in 2009, Compass Offices has grown to 9 cities, serving over 20,000 satisfied clients. Our clients include Fortune 500 companies, growing start-ups, entrepreneurs, independent professionals and enterprise teams.

Press:

Kelly Tey

Direct Line: +852 3978 5392

Email: [email protected]

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Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
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