April 2008

Results Announcement

  • 4-Apr-08 : KREIT – xri 8-for-5 rights @ $1.39 ; FY08 DPU (Forecast) 7.53ct (Table updated)
  • 18-Apr-08 : AREIT (Tables Updated)
  • 21-Apr-08 : KREIT (Tables Not Updated, Using Rights Circular Data)
  • 22-Apr-08 (AM) : CMT (Tables Updated)
  • 22-Apr-08 (AM) : FirstREIT (Tables Updated)
  • 22-Apr-08 : PST (Tables Updated)
  • 23-Apr-08 (AM) : AscottREIT (Tables Updated)
  • 23-Apr-08 : FSL (Tables Updated)
  • 23-Apr-08 : FrasersCT (Tables Updated)
  • 24-Apr-08 (AM) : CRCT (Tables Updated)
  • 24-Apr-08 : MapleTree (Tables Updated)
  • 25-Apr-08 (AM) : Cambridge (Tables Updated)
  • 25-Apr-08 (AM) : CCT (Tables Updated)
  • 28-Apr-08 : LMIR (Tables Updated)
  • 29-Apr-08 : MMP (Tables Updated)
  • 30-Apr-08 (Lunch) : CDL HTrust (Tables Updated)
  • 30-Apr-08 : a-iTrust (Tables Updated)
  • 30-Apr-08 : Suntec (Tables Updated)
  • 5-May-08 : Rickmers
  • 6-May-08 : PLife
  • 8-May-08 : HWT
  • 12-May-08 : Saizen

Average Yield = 6.782%

REIT

Period

DPU ct

Price

Yield

NAV

Assets Type

LMIR

Q1 : Mar-08

2.20*

S$0.57

10.596%

S$0.958

Malls – Indonesia

First REIT

Q1 : Mar-08

1.85

S$0.72

10.417%

S$0.924

Hospitals + Hotel (Indonesia)

AllCo

2H : Dec-07

3.74

S$0.81

9.235%

S$1.45

Malls + Office (S’pore and Aust)

Cambridge

Q1 : Mar-08

1.588

S$0.70

9.124%

S$0.76

Industrial

MI-REIT

Q3 : Dec-07

1.92

S$0.95

8.021%

S$1.30

Industrial

MapleTree

Q1 : Mar-08

1.90

S$1.03

7.379%

S$0.90

Industrial

Saizen

FY08 – IPO

5.30

S$0.755

7.020%

S$1.05

Residential (Japan)

AscottREIT

Q1 : Mar-08

2.33

S$1.33

7.008%

S$1.57

Serviced Apts (Regional)

Fortune

2H : Dec-07

17.42

HK4.98

6.996%

HK$9.04

Malls (HK)

Suntec

Q2: Mar-08

2.5185

S$1.51

6.708%

S$2.23

Malls + Office

CDL HTrust

Q1 : Mar-08

2.86

S$1.92

5.990%

S$1.58

Hotels

MMP

Q1 : Mar-08

1.76

S$1.23

5.756%

S$1.59

Malls + Office

A-REIT

Q4 : Mar-08

3.69

S$2.57

5.743%

S$1.80

Industrial

FrasersCT

Q2 : Mar-08

1.75

S$1.23

5.691%

S$1.17

Malls

PLife

Q4 : Dec-07

2.27

S$1.24

5.097%

S$1.34

Hospitals

K-REIT

FY08 – Rights

7.53

S$1.51

4.987%

S$2.29

Office

CCT

Q1 : Mar-08

2.59

S$2.24

4.652%

S$2.79

Office

CapitaRChina

Q1 : Mar-08

1.02*

S$1.51

4.411%

S$1.05

Malls (China)

CMT

Q1 : Mar-08

3.48

S$3.48

4.023%

S$2.21

Malls + Office

NOTES :

  • Mkt Price is as on 30-Apr-08
  • Suntec : Annualised DPU = 10.129ct
  • CDL HTrust : Annualised DPU = 11.5ct ; Div Not Paid Out as Semi-Annual Policy
  • MMP : Annualised DPU = 7.08ct
  • LMIR : Annualised DPU = 6.04ct ; For the Period 8-Aug-07 to 31-Mar-08
  • CCT : Annualised DPU = 10.42ct ; Div Not Paid Out as Semi-Annual Policy
  • Cambridge : Annualised DPU = 6.387ct
  • CRCT : * For the Period 5-Feb-08 to 31-Mar-08 ; Annualised DPU 6.66ct ; Div Not Paid Out as Semi-Annual Policy ; Actual DPU for Q108 = 1.55ct (Annualised 6.22ct)
  • AscottREIT : Div Not Paid Out as Semi-Annual Policy
  • First REIT : Annualised DPU = 7.5ct
  • CMT : Annualised DPU = 14ct
  • KREIT : FY08 DPU Forecast 7.53ct (8-for-5 Rights @ $1.39)
  • 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
  • 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$

Q1 : Mar-08

0.97

$0.415

9.349%

$0.42

Shipping Trust

FSL Trust

Q1 : Mar-08

2.59

S$1.05

13.430%

$0.88

Shipping Trust

Rickmers

Q4 : Dec-07

2.14

S$1.06

10.992%

$1.07

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3611:US$1 fm Yahoo Finance)
  • FSL : Annualised DPU 10.36ct
  • Rickmers : Annualised DPU 8.56ct
  • FSL : SGX Annc (9-Nov-07) Quarterly DPU Forecast (Pg 16) – 2.418ct (Q407) ; 2.608ct (FY08) ; 2.608ct (1H09)
  • FSL : SGX Annc (21-Apr-08) Quarterly DPU Forecast – Q208 (+US0.16ct) ; Q308 (+US0.28ct)

Other Trusts (non-REITs)

Trust

Period

DPU ct

Price

Yield

NAV

Assets Type

CitySpring

Q3 : Dec-07

1.60

$0.785

8.153%

$0.81

Infrastructure – Water, Gas

AscendasIndT

2H : Mar-08

3.14

$1.18

5.322%

$1.08

India – Industrial Park

HWT

FY08 : IPO

4.46

$0.68

6.559%

$0.73

China – Water Plant

NOTES :

  • 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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