October 2009
NOTE : For K-REIT, Proforma data (from Rights Issue) are used for Yield computation. Please refer to “NOTES” at the bottom of the table for more info.
Results Announcement
- 13 Oct 09 – K-REIT (Tables Updated)
- 19 Oct 09 – A-REIT (Tables Updated)
- 21 Oct 09 (AM) – CCT (Tables Updated)
- 22 Oct 09 (AM) – FirstREIT (Tables Updated)
- 22 Oct 09 (AM) – CMT (Tables Updated)
- 22 Oct 09 – a-iTrust (Table Updated)
- 22 Oct 09 – MapleTree (Tables Updated)
- 22 Oct 09 – FCT (Tables Updated)
- 22 Oct 09 – PST (Table Updated)
- 23 Oct 09 (AM) – CRCT (Tables Updated)
- 23 Oct 09 (AM) – FCOT (Tables Updated)
- 23 Oct 09 (AM) – FSL (Table Updated)
- 27 Oct 09 – Suntec (Tables Updated)
- 27 Oct 09 – Cambridge (Tables Updated)
- 28 Oct 09 (AM) – ART (Tables Updated)
- 28 Oct 09 – StarHill Gbl (Tables Updated)
- 30 Oct 09 – CDL H-Trust (Tables Updated)
- 4 Nov 09 – Fortune
- 5 Nov 09 – PLife
- 11 Nov 09 (AM) – Saizen
- 12 Nov 09 – CitySpring
REITs : Average Yield = 8.014% (Excl. Saizen)
| REIT |
Period
|
DPU ct |
Price
|
Yield
|
NAV
|
Assets Type
|
| MI-REIT |
Q1 : Jun-09
|
1.51
|
S$0.415
|
14.554%
|
S$1.07
|
Industrial |
| Cambridge |
Q3 : Sep-09
|
1.344
|
S$0.465
|
11.467%
|
S$0.60
|
Industrial |
| LMIR |
Q2 : Jun-09
|
1.3
|
S$0.47
|
11.064%
|
S$0.7393
|
Malls – Indonesia |
| First REIT |
Q3 : Sep-09
|
1.90
|
S$0.705
|
10.809%
|
S$0.9267
|
Hospitals + Hotel (Indonesia) |
| Suntec |
Q3 : Sep-09
|
2.921
|
S$1.20
|
9.658%
|
S$1.946
|
Malls + Office |
| Fortune |
1H09 (Proforma – Rights)
|
12.03
|
HK$2.80
|
8.593%
|
HK$4.98
|
Malls (HK) |
| MapleTree |
Q3 : Sep-09
|
1.48
|
S$0.75
|
7.893%
|
S$0.86
|
Industrial |
| A-REIT |
Q2 : Sep-09
|
3.48*
|
S$1.86
|
7.371%
|
S$1.58
|
Industrial |
| AscottREIT |
Q3 : Sep-09
|
1.92
|
S$1.06
|
7.245%
|
S$1.32
|
Serviced Apts (Regional) |
| CapitaRChina |
Q3 : Sep-09
|
2.02
|
S$1.13
|
7.088%
|
S$1.10
|
Malls (China) |
| CCT |
Q3 : Sep-09
|
1.85
|
S$1.07
|
6.860%
|
S$1.49
|
Office |
| FrasersCT |
Q4 : Sep-09
|
2.04
|
S$1.21
|
6.744%
|
S$1.22
|
Malls |
| Starhill Gbl |
Q3 : Sep-09
|
0.95
|
S$0.58
|
6.500%
|
S$0.80
|
Malls + Office |
| PLife |
Q2 : Jun-09
|
1.89
|
S$1.23
|
6.138%
|
S$1.32
|
Hospitals |
| K-REIT |
FY08 (Proforma – Rights)
|
6.08
|
S$1.04
|
5.846%
|
S$1.49
|
Office |
| CMT |
Q3 : Sep-09
|
2.35
|
S$1.60
|
5.825%
|
S$1.54
|
Malls + Office |
| FrasersComm |
Q3 : Sep-09
|
0.2
|
S$0.145
|
5.517%
|
S$0.27
|
Malls + Office (S’pore + Aust) |
| CDL HTrust |
Q3 : Sep-09
|
2.04
|
S$1.59
|
5.088%
|
S$1.41
|
Hotels |
| Saizen |
2H : Jun-09
|
—
|
S$0.145
|
—
|
S$0.40
|
Residential (Japan) |
NOTES :
- Mkt Price is as on 30-Oct-09
- CDLHTrust : Annualised DPU = 8.09ct ; DPU Not Paid as Semi-Annual Payout Policy
- StarHill Gbl : Annualised DPU = 3.77ct
- AscottREIT : DPU Not Paid as Semi-Annual Payout Policy
- Cambridge : Annualised DPU = 5.332ct ; Cambridge A DPU = 0.708ct (12-Aug-09 to 30-Sep-09)
- Suntec : Annualised DPU = 11.589ct
- FrasersComm : Annualised DPU = 0.8ct
- CRCT : Annualised DPU = 8.01ct ; DPU Not Paid as Semi-Annual Payout Policy
- FCT : DPU = 1.95ct if exclude Retained Income from Previous Quarters
- CMT : Annualised DPU = 9.32ct
- FirstREIT : Annualised DPU 7.62ct
- CCT : Annualised DPU = 7.34ct ; DPU Not Paid as Semi-Annual Payout Policy
- A-REIT : DPU = 1.94ct (1-Jul to 19-Aug ; Paid on 23-Sep) + 1.54ct (20-Aug to 30-Sep) ; * Above Yield is Calculated Using DPU = 1.54ct for the Period 20-Aug to 30-Sep.
- KREIT : Annualised DPU = 10.67ct ; DPU Not Paid as Semi-Annual Payout Policy
- KREIT : Proposed 1-for1 Rights @ $0.93 (xri 23-Oct-09) ; Circular (3-Oct-09) ; FY08 (Proforma) – DPU 6.08ct (Yield 5.8% @ TERP $1.06 – Mkt $1.18) ; NAV $1.49 ; Gearing 9.1%
- Saizen : No Payout since 1H09 (Dec-08) ; SGX Annc Pg21 : The Board expects Saizen REIT will start accumulating cash for distribution from the last quarter of FY2010 or first quarter of FY2011
- Fortune : Proposed 1-for-1 Rights @ HK$2.29 (xri 15-Sep-09) ; Circular (24-Aug-09) ; 1H09 (Proforma) – DPU HK12.03ct (Yield 7.52% @ TERP HK$3.20) ; NAV HK$4.98
- Cambridge : Private Placement – 71.14Mil Shares @ $0.392 ; Listing on 13-Aug-09 9am
- AREIT : Private Placement – 185Mil Shares @ $1.63 ; Listing on 20-Aug-09 2pm ; Gearing 29.3%
- PLife : Annualised DPU = 7.55ct
- FCOT
: 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% ; New Shares Listing – 27 Aug 09 - 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% ; New Shares Listing – 19 Aug 09
- 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)
- 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% @ $1 (Excl. Bonus Div) / 6.51% (Incl Bonus Div)
- PLife : IPO Forecast – 2H07 : 3.3ct ; FY08 : 6.25ct ; FY09 : 6.39ct
Shipping Trusts (non-REITs)
|
Trust
|
Period
|
DPU ct |
Price
|
Yield
|
NAV
|
Assets Type
|
|
PacShipTr US$
|
Q3 : Sep-09
|
0.818
|
US$0.265 |
12.347%
|
$0.40
|
Shipping Trust |
|
FSL Trust
|
Q3 : Sep-09
|
1.50
|
S$0.60
|
13.964%
|
$0.63
|
Shipping Trust |
|
Rickmers
|
Q2 : Jun-09
|
0.6
|
S$0.37
|
9.058%
|
$0.87
|
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3997:US$1 fm Yahoo Finance)
- FSL : Q309 DPU = US1.5ct (50% Payout) ; US1.27ct (Stub Distribution) Already Paid Out ; Balance US0.23ct
- PST : 70% Payout
- Rickmers : 13% Payout
- FSL : SGX Annc (21-Jul-09) Quarterly DPU Forecast – Q309 US1.5ct (50% Payout)
Other Trusts (non-REITs)
|
Trust
|
Period
|
DPU ct |
Price
|
Yield
|
NAV
|
Assets Type
|
|
CitySpring
|
Q1 : Jun-09 (Proforma – Rights)
|
1.0
|
$0.575
|
6.957%
|
$0.43*
|
Infrastructure – Water, Gas |
|
AscendasIndT
|
1H : Sep-09
|
3.91
|
$0.93
|
8.409%
|
$0.84
|
India – Industrial Park |
|
HWT
|
1H : Jun-09
|
2.56
|
$0.675
|
7.585%
|
$0.80
|
China – Water Plant |
|
Indiabulls
|
Q1 : Jun-09
|
—
|
$0.265
|
—
|
$0.7461
|
India – Office |
NOTES :
- a-iTrust : DPU = 1.85ct (Sep) + 2.06ct (Jun)
- IndiaBulls : Proposed 53-for-100 Rights @ $0.16 (xr 2-Oct-09) ; Circular (10-Sep-09) ; TERP $0.258 (Mkt $0.31) ; NAV $0.54
- CitySpring : Proposed 1-for-1 Rights @ $0.48 (xr 25-Aug-09) ; Circular (21-Aug-09) ; DPU = 1ct (Proforma Q109) ; Yield 6.349% ; TERP $0.63 (Mkt $0.78) ; NAV $0.28
- HWT : DPU = 2.56ct (With Sponsor Waiver) ; Sponsor DPU = 1.77ct
- CitySpring : The Group NAV per unit before hedging and translation reserves is S$0.61
- Indiabulls : No DPU Declared
- CitySpring : DPU Forecast – FY10 (Mar) = 7ct
- 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)