December 2009

 

REITs : Average Yield = 7.210% (Excl. Saizen)

REIT

Period

DPU ct

Price

Yield

NAV

Assets Type

Cambridge

Q3 : Sep-09

1.344

S$0.45

11.849%

S$0.60

Industrial

AIMSAMPIReit

1H10 (Proforma – Rights)

1.04

S$0.215

9.674%

S$0.31

Industrial

LMIR

Q3 : Sep-09

1.22

S$0.505

9.663%

S$0.7443

Malls – Indonesia

First REIT

Q3 : Sep-09

1.90

S$0.815

9.350%

S$0.9267

Hospitals + Hotel (Indonesia)

Suntec

Q3 : Sep-09

2.921

S$1.35

8.584%

S$1.946

Malls + Office

Fortune

1H09 (Proforma – Rights)

12.03

HK$3.13

7.687%

HK$4.98

Malls (HK)

MapleTree

Q3 : Sep-09

1.48

S$0.785

7.541%

S$0.86

Industrial

Starhill Gbl

Q3 : Sep-09

0.95

S$0.525

7.181%

S$0.80

Malls + Office

AscottREIT

Q3 : Sep-09

1.92

S$1.20

6.400%

S$1.32

Serviced Apts (Regional)

CCT

Q3 : Sep-09

1.85

S$1.17

6.274%

S$1.49

Office

PLife

Q3 : Sep-09

1.91

S$1.22

6.270%

S$1.32

Hospitals

CapitaRChina

Q3 : Sep-09

2.02

S$1.28

6.258%

S$1.10

Malls (China)

A-REIT

Q2 : Sep-09

3.48*

S$2.22

6.176%

S$1.58

Industrial

FrasersCT

Q4 : Sep-09

2.04

S$1.40

5.829%

S$1.22

Malls

FrasersComm

Q3 : Sep-09

0.2

S$0.14

5.714%

S$0.27

Malls + Office (S’pore + Aust)

K-REIT

FY08 (Proforma – Rights)

6.08

S$1.10

5.527%

S$1.49

Office

CMT

Q3 : Sep-09

2.35

S$1.80

5.178%

S$1.54

Malls + Office

CDL HTrust

Q3 : Sep-09

2.04

S$1.75

4.623%

S$1.41

Hotels

Saizen

Q3 : Sep-09

S$0.15

S$0.41

Residential (Japan)

NOTES :

  • Mkt Price is as on 31-Dec-09
  • Suntec : Private Placement 128.5Mil New Units @ $1.19 ; SGX Annc (11-Dec-09) ; Gearing 31.5% ; Aggregate Leverage 33.4%
  • MapleTree : Private Placement 115Mil New Units @ $0.69 ; SGX Annc (9-Nov-09) ; Proforma (3Q09) – Yield Accretive +1.5% ; DPU 0.74-0.76ct (Advanced Distribution for the Period 1-Oct-09 to 17-Nov-09) for Existing Shareholders ; Gearing ~38.5%
  • MI-REIT : 2-for1 Rights @ $0.159 (xri 25-Nov-09) ; Circular (6-Nov-09) ; 1H10 (Proforma) – DPU 1.04ct (Yield 9.3% @ TERP $0.223 – Mkt $0.41) ; NAV $0.31 ; Gearing 29% ; Listing on 28-Dec-09 9am
  • PLife : Annualised DPU = 7.65ct
  • Fortune : Q309 DPU = HK9.75ct ; DPU Not Paid as Semi-Annual Payout Policy
  • 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 : 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%
  • 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$0.27

12.119%

$0.40

Shipping Trust

FSL Trust

Q3 : Sep-09

1.50

S$0.60

14.026%

$0.63

Shipping Trust

Rickmers

Q3 : Sep-09

0.6

S$0.375

8.977%

$0.88

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.4026:US$1 fm Yahoo Finance)
  • Rickmers : 13% Payout
  • FSL : Q309 DPU = US1.5ct (50% Payout) ; US1.27ct (Stub Distribution) Already Paid Out ; Balance US0.23ct
  • PST : 70% Payout

 
 

 
 

Other Trusts (non-REITs)

Trust

Period

DPU ct

Price

Yield

NAV

Assets Type

CitySpring

Q2 : Sep-09

1.05

$0.59

7.119%

$0.43*

Infrastructure – Water, Gas

AscendasIndT

1H : Sep-09

3.91

$0.98

7.980%

$0.84

India – Industrial Park

HWT

2H : Dec-09 (Forecast)

2.86

$0.70

8.171%

$0.76

China – Water Plant

Indiabulls

Q2 : Sep-09

$0.26

$0.7242

India – Office

NOTES :

  • Indiabulls : No DPU Declared
  • CitySpring : The Group NAV per unit before hedging and translation reserves is S$0.52
  • HWT : Q309 DPU = 1.16ct (Not Paid Out as Semi-Annual Payout Policy ; Excludes Sponsor Waiver) ; 2H09 DPU Forecast = 2.86ct (With Sponsor Waiver)
  • 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
  • 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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