June 2009

Average Yield = 13.154% / 11.619% (Excl. Saizen)

REIT

Period

DPU ct

Price

Yield

NAV

Assets Type

Saizen

FY08 – IPO

5.30

S$0.13

40.769%

S$0.85

Residential (Japan)

MI-REIT

Q4 : Mar-09

1.875

S$0.33

22.727%

S$1.09

Industrial

CCT

Q1 : Mar-09

3.24

S$0.82

16.024%

S$2.91

Office

LMIR

Q1 : Mar-09

1.36

S$0.355

15.324%

S$0.7273

Malls – Indonesia

Cambridge

Q1 : Mar-09

1.291

S$0.35

14.960%

S$0.73

Industrial

Suntec

Q2 : Mar-09

2.918

S$0.86

13.760%

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)

First REIT

Q1 : Mar-09

1.88

S$0.63

12.095%

S$0.9297

Hospitals + Hotel (Indonesia)

Starhill Gbl

Q1 : Mar-09

1.87

S$0.635

11.937%

S$1.41

Malls + Office

Fortune

Q1 : Mar-09

10.06

HK$3.74

10.759%

HK$7.47

Malls (HK)

MapleTree

Q1 : Mar-09

1.47

S$0.555

10.595%

S$0.88

Industrial

AscottREIT

Q1 : Mar-09

1.77

S$0.68

10.559%

S$1.51

Serviced Apts (Regional)

K-REIT

Q1 : Mar-09

2.38

S$0.975

9.897%

S$2.20

Office

CDL HTrust

Q1 : Mar-09

1.97

S$0.83

9.627%

S$1.39

Hotels

FrasersCT

Q2 : Mar-09

1.86

S$0.865

8.601%

S$1.23

Malls

PLife

Q1 : Mar-09

1.89

S$0.925

8.173%

S$1.32

Hospitals

A-REIT

Q4 : Mar-09

3.23

S$1.59

8.126%

S$1.58

Industrial

CapitaRChina

Q1 : Mar-09

2.14

S$1.07

8.112%

S$1.22

Malls (China)

CMT

Q1 : Mar-09

1.97

S$1.40

5.707%

S$1.65

Malls + Office

NOTES :

  • Mkt Price is as on 30-Jun-09
  • FCOT : Proposed 3-for-1 Rights @ $0.095
  • StarHill Gbl : 1-for-1 Rights @ $0.35 (xr 24-Jul-09)
  • CCT : 1-for-1 Rights @ $0.59 (xr 3-Jun-09)
  • Saizen : 11-for-10 Rights @ $0.09 with Attached Warrants (xr 4-May-09)
  • CMT : 9-for-10 Rights @ $0.82 (xr 4-Mar-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$0.235

16.681%

$0.38

Shipping Trust

FSL Trust

Q1 : Mar-09

2.45

S$0.61

23.244%

$0.73

Shipping Trust

Rickmers

Q1 : Mar-09

2.14

S$0.525

23.590%

$0.84

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.4468: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

$0.655

10.687%

$0.28*

Infrastructure – Water, Gas

AscendasIndT

2H : Mar-09

4.07

$0.69

11.797%

$0.89

India – Industrial Park

HWT

Q1 : Mar-09

1.15

$0.53

8.679%

$0.841

China – Water Plant

Indiabulls

FY09 : Mar-09

$0.265

$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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