March 2008

Average Yield = 6.722%

REIT

Period

DPU ct

Price

Yield

NAV

Assets Type

Cambridge

Q4 : Dec-07

1.258

S$0.615

9.954%

S$0.76

Industrial

First REIT

Q4 : Dec-07

1.76

S$0.71

9.831%

S$0.924

Hospitals + Hotel (Indonesia)

LMIR

FY08 – IPO

5.84

S$0.595

9.815%

S$0.91

Malls – Indonesia

AllCo

2H : Dec-07

3.74

S$0.82

9.122%

S$1.45

Malls + Office (S’pore and Aust)

MI-REIT

Q3 : Dec-07

1.92

S$0.985

7.736%

S$1.30

Industrial

MapleTree

Q4 : Dec-07

1.78

S$0.995

7.156%

S$0.92

Industrial

Saizen

FY08 – IPO

5.30

S$0.75

7.067%

S$1.05

Residential (Japan)

Fortune

2H : Dec-07

17.42

HK$5.11

6.818%

HK$9.04

Malls (HK)

K-REIT

2H : Dec-07

4.99

S$1.53

6.523%

S$3.73

Office

AscottREIT

2H : Dec-07

4.10

S$1.29

6.357%

S$1.60

Serviced Apts (Regional)

Suntec

Q1: Dec-07

2.2786

S$1.45

6.234%

S$2.24

Malls + Office

A-REIT

Q3 : Dec-07

3.56

S$2.38

5.983%

S$1.45

Industrial

MMP

Q4 : Dec-07

1.68

S$1.23

5.423%

S$1.61

Malls + Office

CapitaRChina

2H : Dec-07

3.51

S$1.30

5.400%

S$0.98

Malls (China)

PLife

Q4 : Dec-07

2.27

S$1.19

5.311%

S$1.34

Hospitals

CDL HTrust

Q4 : Dec-07

2.76

S$2.07

5.290%

S$1.61

Hotels

FrasersCT

Q1 : Dec-07

1.61

S$1.24

5.194%

S$1.16

Malls

CMT

Q4 : Dec-07

2.34

S$3.45

4.501%

S$2.21

Malls + Office

CCT

2H : Dec-07

4.47

S$2.22

3.995%

S$2.80

Office

NOTES :

  • Mkt Price is as on 31-Mar-08
  • CapitaRChina : Annualised DPU = 7.02ct ; Actual Payout 4.04cts (1-Jul-07 to 4-Feb-08)
  • PLife : Annualised DPU = 6.32ct ; Actual Payout 2.27ct for the Period 23-Aug-07 to 31-Dec-07
  • MI-REIT : Annualised DPU = 7.62ct
  • AllCo : Q407 DPU 2.2ct ; Annualised = 8.77ct ; Annualised Yield = 13.090% @ $0.67 if this DPU is used
  • Suntec : Annualised DPU = 9.04ct ; Actual Payout 1.5738ct for the Period 31-Oct-07 to 31-Dec-07 (0.7048ct Already Paid for 1-Oct-07 to 30-Oct-07)
  • CDL HTrust : Annualised DPU (Q407) = 10.95ct ; Actual Payout = 4.61ct for Period 19-Jul-07 to 31-Dec-07
  • MMP : Annualised DPU = 6.67ct
  • Cambridge : Annualised DPU = 6.122ct for Period 18-Oct-07 to 31-Dec-07
  • CCT : Annualised DPU = 8.87ct
  • First REIT : Annualised DPU = 6.98ct
  • CMT : Annualised DPU = 15.53ct for Period 7-Nov-07 to 31-Dec-07
  • LMIR : IPO Forecast – FY07 (Dec07) : 2.74ct (Annualised for 1-Jul-07 to 31-Dec-07) ; FY08 : 5.84ct ; FY09 : 6.27ct
  • Saizen : IPO Forecast – FY09 (Jun09) : 5.65ct ; FY08 (Jun08) : 4.67ct (Incl. Bonus Div) / Annualised Yield 5.3% @ $1 (Excl. Bonus Div) / 6.51% (Incl Bonus Div)
  • PLife : IPO Forecast – 2H07 : 3.3ct ; FY08 : 6.25ct ; FY09 : 6.39ct

Shipping Trusts (non-REITs)

Trust

Period

DPU ct

Price

Yield

NAV

Assets Type

PacShipTr US$

Q4 : Dec-07

1.10

$0.41

10.732%

$0.43

Shipping Trust

FSL Trust

Q4 : Dec-07

2.42

S$1.11

12.039%

$0.92

Shipping Trust

Rickmers

Q4 : Dec-07

2.14

S$1.02

11.585%

$1.07

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3805:US$1 fm Yahoo Finance)
  • Rickmers : Annualised DPU 8.56ct
  • FSL : Annualised DPU 9.68ct
  • FSL : SGX Annc (9-Nov-07) Quarterly DPU Forecast (Pg 16) – 2.418ct (Q407) ; 2.608ct (FY08) ; 2.608ct (1H09)

Other Trusts (non-REITs)

Trust

Period

DPU ct

Price

Yield

NAV

Assets Type

CitySpring

Q3 : Dec-07

1.60

$0.715

8.951%

$0.81

Infrastructure – Water, Gas

AscendasIndT

Q3 : Dec-07

1.50

$1.04

5.769%

$1.14

India – Industrial Park

HWT

FY08 : IPO

4.46

$0.565

7.894%

$0.73

China – Water Plant

NOTES :

  • a-iTrust : No Div Payout (Semi-Annual Policy)
  • HWT : Listing on 3-Dec-07 2PM
  • HWT : IPO Forecast – 4.46ct (FY08) – Sponsor (25% s/h) undertaken to waive entitlement to distributions, else DPU 3.34ct (Yield 4.282% @ $0.78) ; 5.06ct (FY09) – Yield 6.744% @ $0.78

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