July 2009
NOTE : For StarHill Global and FCOT, please refer to “NOTES” at the bottom of the table on the impact to DPU and Yield due to their rights issues.
Results Announcement
- 17 Jul 09 : AREIT (Tables Updated)
- 20 Jul 09 : K-REIT (Tables Updated)
- 21 Jul 09 (AM) : FSL (Table Updated) – Q309 Guidance DPU US1.5ct (50% Payout)
- 22 Jul 09 (AM) : CCT (Tables Updated)
- 23 Jul 09 (AM) : FirstREIT (Tables Updated)
- 23 Jul 09 (AM) : ART (Tables Updated)
- 23 Jul 09 (AM) : CRCT (Tables Updated)
- 23 Jul 09 : PST (Table Updated)
- 23 Jul 09 : Cambridge (Tables Updated)
- 23 Jul 09 : MapleTree (Tables Updated)
- 23 Jul 09 : FCT (Tables Updated)
- 24 Jul 09 (AM) : CMT (Tables Updated)
- 28 Jul 09 : Fortune (Tables Updated)
- 29 Jul 09 (Noon) : FCOT (Tables Updated)
- 29 Jul 09 : StarHill Gbl (Tables Updated)
- 30 Jul 09 : Suntec (Tables Updated)
- 30 Jul 09 : a-iTrust (Table Updated)
- 30 Jul 09 : CDL HTrust (Tables Updated)
- 6 Aug 09 : PLife
- 11 Aug 09 : CitySpring
Average Yield = 11.407% / 10.078% (Excl. Saizen)
|
REIT |
Period |
DPU ct |
Price |
Yield |
NAV |
Assets Type |
|
Saizen |
FY08 – IPO |
5.30 |
S$0.15 |
35.333% |
S$0.85 |
Residential (Japan) |
|
MI-REIT |
Q4 : Mar-09 |
1.875 |
S$0.40 |
18.750% |
S$1.09 |
Industrial |
|
FrasersComm |
1H : Jun-09 |
1.44 |
S$0.19 |
15.263% |
S$0.82 |
Malls + Office (S’pore + Aust) |
|
Starhill Gbl |
Q2 : Jun-09 |
1.90 |
S$0.545 |
13.982% |
S$1.28 |
Malls + Office |
|
Cambridge |
Q2 : Jun-09 |
1.345 |
S$0.42 |
12.845% |
S$0.62 |
Industrial |
|
LMIR |
Q1 : Mar-09 |
1.36 |
S$0.43 |
12.651% |
S$0.7273 |
Malls – Indonesia |
|
First REIT |
Q2 : Jun-09 |
1.92 |
S$0.695 |
11.022% |
S$0.9282 |
Hospitals + Hotel (Indonesia) |
|
Suntec |
Q2 : Jun-09 |
2.977 |
S$1.09 |
10.955% |
S$1.956 |
Malls + Office |
|
MapleTree |
Q2 : Jun-09 |
1.48 |
S$0.595 |
9.950% |
S$0.89 |
Industrial |
|
Fortune |
1H : Jun-09 |
19.60 |
HK$4.16 |
9.423% |
HK$7.89 |
Malls (HK) |
|
K-REIT |
1H : Jun-09 |
4.99 |
S$1.07 |
9.421% |
S$2.17 |
Office |
|
A-REIT |
Q1 : Jun-09 |
3.62 |
S$1.70 |
8.518% |
S$1.58 |
Industrial |
|
AscottREIT |
1H : Jun-09 |
3.55 |
S$0.88 |
8.068% |
S$1.36 |
Serviced Apts (Regional) |
|
CCT |
1H : Jun-09 |
3.33 |
S$0.855 |
7.860% |
S$1.50 |
Office |
|
FrasersCT |
Q3 : Jun-09 |
1.94 |
S$1.03 |
7.534% |
S$1.23 |
Malls |
|
PLife |
Q1 : Mar-09 |
1.89 |
S$1.02 |
7.412% |
S$1.32 |
Hospitals |
|
CDL HTrust |
1H : Jun-09 |
3.86 |
S$1.21 |
6.430% |
S$1.42 |
Hotels |
|
CapitaRChina |
1H : Jun-09 |
4.08 |
S$1.39 |
5.921% |
S$1.12 |
Malls (China) |
|
CMT |
Q2 : Jun-09 |
2.13 |
S$1.58 |
5.405% |
S$1.56 |
Malls + Office |
NOTES :
- Mkt Price is as on 31-Jul-09
- CDLHTrust : Annualised DPU = 7.78ct
- Suntec : Annualised DPU = 11.941ct
- StarHill Gbl : Annualised DPU = 7.62ct
- FrasersComm : Annualised DPU = 2.9ct
- CMT : Annualised DPU = 8.54ct
- Cambridge : Annualised DPU = 5.395ct
- CRCT : Annualised DPU = 8.23ct
- FirstREIT : Annualised DPU 7.66ct
- CCT : Annualised DPU = 6.72ct ; Q209 DPU 1.71ct (Annualised 6.86ct)
- KREIT : Annualised DPU = 10.08ct
- FCOT : Proposed 3-for-1 Rights @ $0.095 (xr 27-Jul-09) ; Circular (30-Jun-09) ; Mar09 (Proforma) – DPU 1.06ct Annualised (Yield 8% @ $0.131 theoretical ex-rights price) ; NAV $0.26 ; Gearing 38.5%
- StarHill Gbl : 1-for-1 Rights @ $0.35 (xr 17-Jul-09) ; Circular (22-Jun-09) : FY08 (Proforma) – DPU 3.85ct (Yield 7.8% @ $0.495 theoretical ex-rights price) ; NAV $0.802; Gearing 20.7%
- CCT : 1-for-1 Rights @ $0.59 (xr 3-Jun-09) ; Circular (29-May-09) : Mar09 (Proforma) – DPU 1.77ct (Yield 7.251% @ $0.825 theoretical ex-rights price) ; NAV $1.51 ; Gearing 30.7%
- 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
- LMIR : Annualised DPU = 5.44ct
- 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% @ $1 (Excl. Bonus Div) / 6.51% (Incl Bonus Div)
- PLife : IPO Forecast – 2H07 : 3.3ct ; FY08 : 6.25ct ; FY09 : 6.39ct
Shipping Trusts (non-REITs)
|
Trust |
Period |
DPU ct |
Price |
Yield |
NAV |
Assets Type |
|
PacShipTr US$ |
Q2 : Jun-09 |
0.99 |
US$0.25 |
15.840% |
$0.39 |
Shipping Trust |
|
FSL Trust |
Q3 : Sep-09 (Guidance) |
1.50 |
S$0.615 |
14.066% |
$0.71 |
Shipping Trust |
|
Rickmers |
Q1 : Mar-09 |
2.14 |
S$0.585 |
21.097% |
$0.84 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.4418:US$1 fm Yahoo Finance)
- FSL : SGX Annc (21-Jul-09) Quarterly DPU Forecast – Q309 US1.5ct (50% Payout)
- FSL : Q209 DPU = US2.45ct ; Annualised DPU 9.8ct (73% Payout)
- Rickmers : 46% Payout
- PST : 90% Payout
Other Trusts (non-REITs)
|
Trust |
Period |
DPU ct |
Price |
Yield |
NAV |
Assets Type |
|
CitySpring |
Q4 : Mar-09 |
1.75 |
$0.74 |
9.459% |
$0.28* |
Infrastructure – Water, Gas |
|
AscendasIndT |
Q1 : Jun-09 |
2.06 |
$0.85 |
9.694% |
$0.86 |
India – Industrial Park |
|
HWT |
Q1 : Mar-09 |
1.15 |
$0.675 |
6.815% |
$0.841 |
China – Water Plant |
|
Indiabulls |
FY09 : Mar-09 |
— |
$0.28 |
— |
$0.7377 |
India – Office |
NOTES :
- a-iTrust : DPU Not Paid Out as Semi-Annual Div Payout PolicyIndiabulls : 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)