May 2009

Results Announcement

  • 6 May 09 (Noon) – HWT (Table Updated)
  • 6 May 09 – Fortune (Tables Updated)
  • 7 May 09 – PLife (Tables Updated)
  • 14 May 09 – Saizen (Tables Updated)
  • 22 May 09 – MI-REIT (Tables Updated)
  • 25 May 09 – CitySpring (Table Updated)
  • 30 May 09 – Indiabulls (Table Updated)

Average Yield = 12.537% / 11.130% (Excl. Saizen)

REIT

Period

DPU ct

Price

Yield

NAV

Assets Type

Saizen

FY08 – IPO

5.30

S$0.14

37.857%

S$0.85

Residential (Japan)

MI-REIT

Q4 : Mar-09

1.875

S$0.38

19.737%

S$1.09

Industrial

LMIR

Q1 : Mar-09

1.36

S$0.33

16.485%

S$0.7273

Malls – Indonesia

Cambridge

Q1 : Mar-09

1.291

S$0.365

14.345%

S$0.73

Industrial

First REIT

Q1 : Mar-09

1.88

S$0.605

12.595%

S$0.9297

Hospitals + Hotel (Indonesia)

Suntec

Q2 : Mar-09

2.918

S$0.95

12.457%

S$1.972

Malls + Office

FrasersComm

Q1 : Mar-09

0.72

S$0.24

12.167%

S$0.79

Malls + Office (S’pore and Aust)

CCT

Q1 : Mar-09

3.24

S$1.13

11.628%

S$2.91

Office

Fortune

Q1 : Mar-09

10.06

HK$3.63

11.085%

HK$7.47

Malls (HK)

AscottREIT

Q1 : Mar-09

1.77

S$0.665

10.797%

S$1.51

Serviced Apts (Regional)

Starhill Gbl

Q1 : Mar-09

1.87

S$0.705

10.752%

S$1.41

Malls + Office

K-REIT

Q1 : Mar-09

2.38

S$0.93

10.376%

S$2.20

Office

CDL HTrust

Q1 : Mar-09

1.97

S$0.79

10.114%

S$1.39

Hotels

MapleTree

Q1 : Mar-09

1.47

S$0.605

9.719%

S$0.88

Industrial

A-REIT

Q4 : Mar-09

3.23

S$1.52

8.500%

S$1.58

Industrial

FrasersCT

Q2 : Mar-09

1.86

S$0.91

8.176%

S$1.23

Malls

PLife

Q1 : Mar-09

1.89

S$0.94

8.043%

S$1.32

Hospitals

CapitaRChina

Q1 : Mar-09

2.14

S$1.18

7.356%

S$1.22

Malls (China)

CMT

Q1 : Mar-09

1.97

S$1.33

6.008%

S$1.65

Malls + Office

NOTES :

  • Mkt Price is as on 29-May-09
  • Saizen : No Payout since 1H09 (Dec-08) ; Yield is Computed Using IPO Prospectus Figures of 5.3% @ $1 Which Excludes Bonus Div
  • PLife : Annualised DPU = 7.56ct
  • Fortune : DPU Not Paid Out as Semi-Annual Div Payout Policy
  • CDLHTrust : Annualised DPU = 7.99ct ; DPU Not Paid Out as Semi-Annual Div Payout Policy
  • FrasersComm : Annualised DPU = 2.92ct ; DPU Not Paid Out as Semi-Annual Div Payout Policy
  • CCT : Annualised DPU = 13.14ct ; DPU Not Paid Out as Semi-Annual Div Payout Policy
  • Suntec : Annualised DPU = 11.834ct
  • StarHill Gbl : Annualised DPU = 7.58ct
  • Cambridge : Annualised DPU = 5.236ct
  • LMIR : Annualised DPU = 5.44ct
  • FrasersCT : 95% Payout
  • FirstREIT – Annualised DPU 7.62ct
  • ART – Annualised DPU = 7.18ct ; DPU Not Paid Out as Semi-Annual Div Payout Policy
  • KREIT : Annualised DPU = 9.65ct ; DPU Not Paid Out as Semi-Annual Div Payout Policy
  • CRCT : Annualised DPU = 8.68ct ; DPU Not Paid Out as Semi-Annual Div Payout Policy
  • AREIT : DPU = 2.5ct (21-Jan-09 to 31-Mar-09) + 0.73ct (1-Jan-09 to 20-Jan-09) Already Paid ; Performance Fees in Cash (Not in New Units) Else DPU = 3.8ct ; Preferential Offer 1-for-15 @ $1.16 + Private Placement (258M New Units) Right for DPU from 21-Jan-09 – Listed on 13-Feb-09
  • CMT : Annualised DPU = 7.99ct ; NAV and DPU are Post-Rights Issue (9-for-10 @ $0.82) Right for Q1 DPU – Listed on 3-Apr-09
  • CCT : FY09 DPU (Projected) = 12.34ct – SGX Annc 9-Jun-08 (Pg 23)
  • 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-09

0.98

US$0.225

17.422%

$0.38

Shipping Trust

FSL Trust

Q1 : Mar-09

2.45

S$0.585

24.217%

$0.73

Shipping Trust

Rickmers

Q1 : Mar-09

2.14

S$0.58

21.335%

$0.84

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.4456:US$1 fm Yahoo Finance)
  • Rickmers : 46% Payout
  • PST : 90% Payout
  • FSL : Annualised DPU 9.8ct (73% Payout)
  • FSL : SGX Annc (21-Apr-09) Quarterly DPU Forecast – Q209 US2.45ct (75% Payout)

Other Trusts (non-REITs)

Trust

Period

DPU ct

Price

Yield

NAV

Assets Type

CitySpring

Q4 : Mar-09

1.75

$0.635

11.024%

$0.28*

Infrastructure – Water, Gas

AscendasIndT

2H : Mar-09

4.07

$0.70

11.629%

$0.89

India – Industrial Park

HWT

Q1 : Mar-09

1.15

$0.48

9.583%

$0.841

China – Water Plant

Indiabulls

FY09 : Mar-09

$0.31

$0.7377

India – Office

NOTES :

  • Indiabulls : No DPU Declared
  • CitySpring : The Group NAV per unit before hedging and translation reserves is S$0.58
  • CitySpring : DPU Forecast – FY10 (Mar) = 7ct
  • HWT : DPU – Without Sponsor Waiver ; DPU Not Paid Out as Semi-Annual Div Payout Policy
  • HWT : DPU Forecast – 1H09 = 2.56ct ; 2H09 = 2.86ct
  • 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)

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