July 2010
Results Announcement
- 15 Jul 10 : Cambridge (Tables Updated)
- 16 Jul 10 : A-REIT (Tables Updated)
- 19 Jul 10 : K-REIT (Tables Updated)
- 21 Jul 10 (AM) : CCT (Tables Updated)
- 21 Jul 10 : PST (Table Updated)
- 22 Jul 10 (AM) : CMT (Tables Updated)
- 22 Jul 10 : Suntec (Tables Updated)
- 23 Jul 10 (AM) : CRCT (Tables Updated)
- 23 Jul 10 (AM) : ART (Tables Updated)
- 23 Jul 10 : a-iTrust (Table Updated)
- 23 Jul 10 : FCT (Tables Updated)
- 25 Jul 10 : MLT (Tables Updated)
- 26 Jul 10 (Noon) : FSL (Table Updated)
- 26 Jul 10 : FirstREIT (Tables Updated)
- 26 Jul 10 : StarHill Gbl (Tables Updated)
- 28 Jul 10 (AM) : CDL H-Trust (Tables Updated)
- 28 Jul 10 : Fortune (Tables Updated)
- 28 Jul 10 : FCOT (Tables Updated)
- 29 Jul 10 : CLT (Tables Updated)
- 29 Jul 10 : AIMSAMPReit (Tables Updated)
- 29 Jul 10 : LMIR (Tables Updated)
- 6 Aug 10 : PLife
- 12 Aug 10 : CitySpring
REITs : Average Yield = 6.813% (Excl. Saizen)
|
REIT |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Gearing |
Assets Type |
|
Cambridge |
Q2 – Jun10 |
1.238 |
$0.510 |
9.737% |
$0.60 |
42.30% |
Industrial |
|
AIMSAMPIReit |
Q1 – Jun10 |
0.5376 |
$0.230 |
9.350% |
$0.31 |
28.80% |
Industrial |
|
First REIT |
Q2 – Jun10 |
1.92 |
$0.885 |
8.701% |
$0.98 |
16.00% |
Hospitals + Hotel (Indonesia) |
|
LippoMapleT |
Q2 – Jun10 |
1.04 |
$0.485 |
8.577% |
$0.83 |
10.30% |
Malls (Indonesia) |
|
CACHE |
Q2 – Jun10 |
1.71 |
$1.000 |
7.810% |
$0.87 |
25.50% |
Industrial |
|
SuntecReit |
Q2 – Jun10 |
2.528 |
$1.430 |
7.091% |
$1.74 |
33.60% |
Malls + Office |
|
CapitaRChina |
1H – Jun10 |
4.21 |
$1.220 |
6.959% |
$1.09 |
33.00% |
Malls (China) |
|
MapletreeLog |
Q2 – Jun10 |
1.5 |
$0.880 |
6.818% |
$0.87 |
38.60% |
Industrial |
|
Fortune Reit HK$ |
1H – Jun10 |
12.27 |
$3.650 |
6.723% |
$5.70 |
21.90% |
Malls (HK) |
|
FraserComm |
Q3 – Jun10 |
0.25 |
$0.150 |
6.667% |
$0.26 |
40.40% |
Malls + Office (S’pore and Aust) |
|
Ascendasreit |
Q1 – Jun10 |
3.37 |
$2.120 |
6.358% |
$1.55 |
34.10% |
Industrial |
|
Starhill Gbl |
Q2 – Jun10 |
0.91 |
$0.575 |
6.348% |
$0.89 |
30.80% |
Malls + Office |
|
FrasersCT |
Q3 – Jun10 |
2.07 |
$1.370 |
6.044% |
$1.24 |
31.20% |
Malls |
|
AscottREIT |
1H – Jun10 |
3.53 |
$1.180 |
5.983% |
$1.38 |
40.70% |
Serviced Apts (Regional) |
|
CapitaComm |
1H – Jun10 |
3.9 |
$1.320 |
5.955% |
$1.36 |
32.80% |
Office |
|
PLife REIT |
Q1 – Mar10 |
2.07 |
$1.490 |
5.557% |
$1.37 |
28.20% |
Hospitals |
|
K-REIT |
1H – Jun10 |
2.97 |
$1.190 |
5.034% |
$1.45 |
15.20% |
Office |
|
CDL Htrust |
1H – Jun10 |
4.89 |
$2.000 |
4.930% |
$1.43 |
29.70% |
Hotels |
|
CapitaMall |
Q2 – Jun10 |
2.29 |
$1.910 |
4.812% |
$1.50 |
34.80% |
Malls + Office |
|
SaizenREIT |
Q3 – Mar10 |
0 |
$0.160 |
0.000% |
$0.39 |
36.90% |
Residential (Japan) |
NOTES :
- Mkt Price is as on 30-Jul-10
- AIMSAMPIReit : Annualised = 2.1504ct
- CLT : Annualised DPU = 7.81ct (12-Apr-10 to 30-Jun-10) ; No DPU Payout (Will Pay with Sep-10 Results)
- FrasersComm : Annualised DPU = 1.0ct ; No Payout as Semi-Annual Payout Policy
- CDLHTrust : Annualised = 9.86ct ; Gearing = 18.6% Post-Rights
- StarHill Gbl : Annualised DPU = 3.65ct
- FirstREIT : Annualised DPU 7.70ct
- FCT : $1.6M ($1.1M from Q1) Retained for Future Distribution
- CRCT : Annualised DPU = 8.49ct
- Suntec : Annualised DPU = 10.14ct
- CMT : Annualised DPU = 9.19ct ; Retained Income (for Future Distribution) = $4.5M ($9.5M During Q1)
- CCT : Annualised DPU = 7.86ct
- KREIT : Annualised DPU = 5.99ct
- A-REIT : DPU Includes 0.26ct which is Non-Recurring in Nature
- Cambridge : Annualised DPU = 4.966ct
- PLife : Annualised DPU = 8.28ct
- StarHill Gbl : Proposed Acquisitions (Cash RM300M + MTN RM330M + CPU RM405M) ; SGX Annc (16-Apr-10) ; Proforma (FY09) Impact – DPU 4.36ct (4.34ct if CPUs converted) / NAV $0.91 ($0.81 if CPUs converted) / Gearing 29%
- CLT (IPO) : IPO Forecast – 7.65ct (FY10) ; 7.78ct (FY11) ; IPO Close : 8-Apr-10 12pm ; Listing : 12-Apr-10 2pm ; IPO Prospectus
- FCT : Private Placement 137Mil New Units @ $1.33 ; SGX Annc (27-Jan-10) ; Listing on 4-Feb-10 2pm
- FCT : Proposed Acquisitions + New Shares Issue ; Circular (7-Jan-10)
- 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%
- AIMSAMPIReit : 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
- 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)
- Saizen : IPO Forecast – FY09 (Jun09) : 5.65ct ; FY08 (Jun08) : 4.67ct (Incl. Bonus Div) / Annualised Yield 5.3% @ $1 (Excl. Bonus Div) / 6.51% (Incl Bonus Div)
Shipping Trusts (non-REITs)
|
Trust |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Assets Type |
|
PacShipTr US$ |
Q2 – Jun10 |
0.793 |
$0.290 |
10.938% |
$0.40 |
Shipping Trust |
|
FSL Trust |
Q2 – Jun10 |
0.95 |
$0.410 |
12.615% |
$0.58 |
Shipping Trust |
|
Rickmers |
Q1 – Mar10 |
0.57 |
$0.365 |
8.502% |
$0.94 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3611:US$1 fm Yahoo Finance)
- FSL : 33%
- PST : 70% Payout
- Rickmers : 13% Payout
Other Trusts (non-REITs)
|
Trust |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Assets Type |
|
CitySpring |
Q4 – Mar10 |
1.05 |
$0.615 |
6.829% |
$0.43 |
Infrastructure – Water, Gas |
|
HyfluxWaterT |
Q1 – Mar10 |
1.16 |
$0.685 |
6.774% |
$0.73 |
China – Water Plant |
|
K-Green |
FY11 |
7.82 |
$1.150 |
6.800% |
$1.12 |
Energy (Incineration) + Water (NEWater) |
|
AscendasIndT |
Q1 – Jun10 |
1.66 |
$0.950 |
6.989% |
$0.85 |
India – Industrial Park |
|
Indiabulls |
Q4 – Mar10 |
— |
$0.225 |
— |
$0.54 |
India – Office |
NOTES :
- a-iTrust : No DPU Payout as Semi-Annual Payout Policy
- K-Green : DPU – FY10 (6mths) = 3.91ct ; FY11 = 7.82ct ; Circular (31-May-10) ; Listing – 29-Jun-10 9am
- CitySpring : The Group NAV per unit before hedging and translation reserves is S$0.49 ; Guidance for FY11 DPU = 4.2ct
- HWT : No Payout as Semi-Annual Payout Policy
- Indiabulls : No DPU Declared
- HWT : 2H09 DPU = 2.86ct (With Sponsor Waiver) ; Sponsor DPU = 2.03ct
- 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
- Indiabulls : IPO Forecast – 5.12ct (FY09) 1,325.4Mil Units (2,371.7Mil Units Issued) Entitled to Div ; 9.82ct (FY10)
Comments are Closed