March 2009

Average Yield = 18.554% / 16.260% (Excl. Saizen, MI-REIT & LMIR)

REIT

Period

DPU ct

Price

Yield

NAV

Assets Type

Saizen

FY08 – IPO

5.30

S$0.115

46.087%

S$1.04

Residential (Japan)

MI-REIT

Q3 : Dec-08

2.35

S$0.23

40.870%

S$1.27

Industrial

FrasersComm

2H : Dec-08

2.36

S$0.14

33.714%

S$0.97

Malls + Office (S’pore and Aust)

Cambridge

Q4 : Dec-08

1.373

S$0.25

21.848%

S$0.74

Industrial

AscottREIT

2H : Dec-08

4.28

S$0.41

20.878%

S$1.47

Serviced Apts (Regional)

CDL HTrust

2H : Dec-08

4.73

S$0.52

18.192%

S$1.42

Hotels

Suntec

Q1: Dec-08

2.858

S$0.63

17.998%

S$1.984

Malls + Office

K-REIT

2H : Dec-08

5.07

S$0.595

17.042%

S$2.19

Office

Starhill Gbl

Q4 : Dec-08

1.85

S$0.455

16.176%

S$1.42

Malls + Office

MapleTree

Q4 : Dec-08

1.46

S$0.375

15.573%

S$0.87

Industrial

First REIT

Q4 : Dec-08

1.94

S$0.50

15.520%

S$0.9321

Hospitals + Hotel (Indonesia)

Fortune

2H : Dec-08

18.51

HK$2.67

13.865%

HK$7.58

Malls (HK)

A-REIT

Q3 : Dec-08

4.05

S$1.22

13.279%

S$1.77

Industrial

CCT

2H : Dec-08

5.81

S$0.88

13.136%

S$2.92

Office

CapitaRChina

2H : Dec-08

4.28

S$0.735

11.646%

S$1.21

Malls (China)

CMT

Q4 : Dec-08

3.65

S$1.32

11.000%

S$2.41

Malls + Office

FrasersCT

Q1 : Dec-08

1.67

S$0.63

10.603%

S$1.22

Malls

PLife

Q4 : Dec-08

1.84

S$0.76

9.684%

S$1.32

Hospitals

LMIR

Q4 : Dec-08

0.3

S$0.22

5.409%

S$0.7113

Malls – Indonesia

NOTES :

  • Mkt Price is as on 31-Mar-09
  • Saizen : No Payout for 1H09 (Dec-08) ; Yield is Computed Using IPO Prospectus Figures of 5.3% @ $1 Which Excludes Bonus Div
  • LMIR : Annualised DPU = 1.19ct
  • Cambridge : Annualised DPU = 5.462ct
  • CDL HTrust : 90% Payout
  • StarHill Gbl : Annualised DPU = 7.36ct
  • PLife : Annualised DPU = 7.36ct
  • FrasersCT : 90% Payout
  • Suntec : Annualised DPU = 11.339ct
  • CMT : Annualised DPU = 14.52ct
  • FrasersComm : Q$08 DPU 1.26ct (Annualised 5.01ct) ; Above Yield Table Uses 2H08 DPU Payout
  • CRCT : Q408 DPU 2.27ct (Annualised 9.03ct) ; Above Yield Table Uses 2H08 DPU Payout
  • CCT : Annualised DPU = 11.56ct
  • 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-08

0.93

US$0.155

24.000%

$0.40

Shipping Trust

FSL Trust

Q4 : Dec-08

3.08

S$0.375

49.963%

$0.75

Shipping Trust

Rickmers

Q4 : Dec-08

2.25

S$0.345

39.673%

$0.82

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.5208:US$1 fm Yahoo Finance)
  • FSL : Annualised DPU 12.32ct
  • FSL : SGX Annc (21-Jan-09) Quarterly DPU Forecast – Q109 US2.45ct (75-80% Payout)

Other Trusts (non-REITs)

Trust

Period

DPU ct

Price

Yield

NAV

Assets Type

CitySpring

Q3 : Dec-08

1.75

$0.52

13.462%

$0.11*

Infrastructure – Water, Gas

AscendasIndT

Q3 : Dec-08

2.02

$0.525

15.390%

$0.94

India – Industrial Park

HWT

2H : Dec-08

1.91

$0.30

12.733%

$0.80

China – Water Plant

Indiabulls

FY09 – IPO

5.12

$0.20

25.600%

$1.1337

India – Office

NOTES :

  • HWT : Actual Payout DPU = 2.79ct Due to Sponsor Waiver
  • HWT : FY09 DPU Forecast = 5.42ct
  • CitySpring : The Group NAV per unit before hedging and translation reserves is S$0.60
  • a-iTrust : DPU Not Paid as Semi-Annual Payout Policy
  • Indiabulls : Listing on 11-Jun-08 2PM
  • Indiabulls : IPO Forecast – 5.12ct (FY09) 1,325.4Mil Units (2,371.7Mil Units Issued) Entitled to Div ; 9.82ct (FY10)
  • HWT : IPO Forecast – 2.09ct (1H08) ; 4.88ct (FY08) / SGX Annc – Pg 12 (Distribution Statement)
  • 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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