May 2012
Results Announcement
- 2 May 12 : IndiaBulls (Updated on NAV)
- 3 May 12 (AM) : PLife (Tables Updated)
- 3 May 12 : CitySpring (Table Updated)
- 7 May 12 : HPH Trust (Updated on NAV)
- 9 May 12 (AM) : PCRT (Table Updated)
- 10 May 12 (AM) : Saizen (Tables Updated)
- 10 May 12 : Fortune (Updated on NAV)
REITs : Average Yield = 7.379%
|
REIT |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Gearing |
Assets Type |
|
Sabana REIT |
Q1 – Mar12 |
2.26 |
$0.950 |
9.568% |
$1.040 |
33.90% |
Industrial |
|
AIMSAMPI Reit |
Q4 – Mar12 |
2.7 |
$1.140 |
9.474% |
$1.406 |
30.00% |
Industrial |
|
First REIT |
Q1 – Mar12 |
1.93 |
$0.880 |
8.818% |
$0.800 |
16.00% |
Hospitals + Hotel (Indonesia) |
|
SaizenREIT |
1H – Dec11 |
0.61 |
$0.139 |
8.777% |
$0.310 |
32.00% |
Residential (Japan) |
|
Cambridge |
Q1 – Mar12 |
1.171 |
$0.540 |
8.722% |
$0.619 |
35.90% |
Industrial |
|
AscottREIT |
Q1 – Mar12 |
2.14 |
$1.050 |
8.152% |
$1.310 |
41.60% |
Serviced Apts (Regional) |
|
CACHE |
Q1 – Mar12 |
2.086 |
$1.035 |
8.106% |
$0.910 |
27.70% |
Industrial |
|
K-REIT |
Q1 – Mar12 |
1.9 |
$0.980 |
7.796% |
$1.250 |
41.80% |
Office |
|
CapitaRChina |
Q1 – Mar12 |
2.41 |
$1.250 |
7.752% |
$1.240 |
30.00% |
Retail (China) |
|
MapletreeInd |
Q4 – Mar12 |
2.22 |
$1.150 |
7.722% |
$1.020 |
37.80% |
Industrial |
|
SuntecReit |
Q1 – Mar12 |
2.453 |
$1.285 |
7.678% |
$1.962 |
37.40% |
Retail + Office |
|
LippoMalls |
Q1 – Mar12 |
0.69 |
$0.370 |
7.459% |
$0.566 |
9.20% |
Retail (Indonesia) |
|
MapletreeLog |
Q5 – Mar12 |
1.7 |
$0.975 |
6.974% |
$0.880 |
35.20% |
Industrial |
|
Starhill Gbl |
Q1 – Mar12 |
1.07 |
$0.625 |
6.880% |
$0.940 |
30.40% |
Retail + Office |
|
Ascendasreit |
Q4 – Mar12 |
3.5 |
$2.050 |
6.829% |
$1.843 |
36.60% |
Industrial |
|
Frasers Comm |
1H – Mar12 |
3.2423 |
$0.950 |
6.821% |
$1.330 |
36.10% |
Retail + Office |
|
MapletreeCom |
Q4 – Mar12 |
1.554 |
$0.920 |
6.793% |
$0.954 |
37.60% |
Retail + Office |
|
CapitaComm |
Q1 – Mar12 |
1.9 |
$1.230 |
6.211% |
$1.560 |
30.50% |
Office (61%) + Retail (22%) + Hotel (17%) |
|
Fortune Reit HK$ |
2H – Dec11 |
13.5 |
$4.360 |
6.193% |
$7.810 |
25.90% |
Retail (HK) |
|
FrasersCT |
Q2 – Mar12 |
2.5 |
$1.625 |
6.154% |
$1.420 |
30.90% |
Retail |
|
CDL Htrust |
Q1 – Mar12 |
2.78 |
$1.835 |
6.093% |
$1.580 |
25.60% |
Hotels |
|
PLife REIT |
Q1 – Mar12 |
2.56 |
$1.810 |
5.657% |
$1.460 |
35.30% |
Hospitals |
|
CapitaMall |
Q1 – Mar12 |
2.3 |
$1.815 |
5.096% |
$1.570 |
38.30% |
Retail + Office |
NOTES :
- Mkt Price is as on 31-May-12
- Fortune : No DPU Payout as Semi-Annual Payout Policy
- Saizen : No DPU Payout as Semi-Annual Payout Policy
- A-REIT : Private Placement (3 May 12) – 150Mil @ $1.99 ; Listing on 14 May 12 2pm
- PLife : Annualised DPU = 10.24ct
- StarHill Global : Annualised DPU = 4.3ct
- MCT : Annualised DPU = 6.25ct
- CDL H-Trust : Annualised DPU = 11.18ct ; No DPU Payout as Semi-Annual Payout Policy
- Suntec : Annualised DPU = 9.866ct
- FCT :
A total of $2.3 million has been retained in 1H12 (1Q12: $1.6 million + 2Q12: $0.7 million)
- FirstREIT : Annualised DPU = 7.76ct ; DPU Includes 0.34ct on Gain from Divestment of Asset
- CCT : Annualised DPU = 7.64ct ; No DPU Payout as Semi-Annual Payout Policy
- MLT : DPU Includes 0.03ct from Gain on Disposal of Assets ; FY Changed from Dec to Mar
- FCOT : Annualised DPU = 6.48ct
- Sabana : Annualised DPU = 9.09ct
- Cambridge : Annualised DPU = 4.71ct
- CLT : Annualised DPU = 8.39ct ; Advanced DPU = 2.044ct (1-Jan-12 to 29-Mar-12)
- CMT : Annualised DPU Payout = 9.25ct
- CRCT : Annualised DPU Payout = 9.69ct ; No DPU Payout as Semi-Annual Payout Policy
- K-REIT : Annualised DPU Payout = 7.64ct ; No DPU Payout as Semi-Annual Payout Policy ; Will Change to Quarterly DPU Payout Policy from Q312
- K-REIT : Proposed 17-for-20 Rights Issue @ $0.85 (17-Oct-11)
- LMIR : Proposed Rights 1-for-1 @ $0.31 ; SGX Annc (3-Oct-11) ; 1H11 Proforma – DPU 1.63ct ; NAV $0.5753 ; TERP $0.458 (Mkt $0.605)
- AIMSAMPI Reit : 5-to-1 Stocks Consolidation on 29-Sep-11
- MCT : IPO Forecast DPU = 4.97ct (FY12) ; 5.42ct (FY13) ; Listing on 27-Apr-11 2pm
- FCOT : 5-to-1 Stocks Consolidation on 8-Feb-11 ; Circular (30-Dec-10) : Proforma FY10 (Sep) – DPU 5.55ct ; NAV $1.38 ; Issued Shares 620,857,225
- FirstREIT : Proposed Rights 5-for-4 @ $0.50 ; SGX Annc (10-Nov-10) ; FY11 Forecast – DPU 6.4ct ; NAV $0.76 ; Gearing 17.25% ; TERP $0.70 (Mkt $0.95)
- Sabana : Forecast DPU FY11 = 8.63ct ; FY12 = 8.67ct ; Listed on 26 Nov 10 2pm @ $1.05
- MIT (IPO) : IPO Forecast – 3.1ct (FY11 – Mar) ; 7.46ct (FY12 – Mar) ; Listing : 21-Oct-10 2pm ; IPO Prospectus
Shipping Trusts (non-REITs)
|
Trust |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Assets Type |
|
FSL Trust |
Q1 – Mar12 |
0.1 |
$0.170 |
3.033% |
$0.490 |
Shipping Trust |
|
Rickmers |
Q1 – Mar12 |
0.6 |
$0.315 |
9.822% |
$0.940 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2892:US$1 fm Yahoo Finance)
- Rickmers : 9% Payout (of Cash flow available for distribution before payment to debt capital providers)
Other Trusts (non-REITs)
|
Trust |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Assets Type |
|
CitySpring |
Q4 – Mar12 |
0.82 |
$0.375 |
8.747% |
$0.279 |
Infrastructure – Water + Gas + Power |
|
K-Green |
FY11 – Dec11 |
7.82 |
$0.980 |
7.980% |
$1.070 |
Energy (Incineration) + Water (NEWater) |
|
AscendasIndT |
2H – Mar12 |
2.96 |
$0.770 |
7.688% |
$0.710 |
India – Industrial Park |
|
Indiabulls |
Q4 – Mar12 |
— |
$0.104 |
— |
$0.453 |
India – Office |
|
HPH Trust US$ |
FY12 – IPO |
6.59 |
$0.715 |
9.217% |
HK$7.75 |
Ports – HK + China |
|
TCT |
1H – Jun11 |
5.00 |
$1.460 |
6.849% |
$4.140 |
China – Retail + Office + Industrial |
|
PerennialCRT |
Q1 – Mar12 |
0.94 |
$0.455 |
8.374% |
$0.680 |
China Retail |
NOTES :
- PCRT : No DPU Payout as Semi-Annual Payout Policy ; DPU Includes $10.54Mil Additional Income (To Be Drawn from Earn-Out Fund)
- CitySpring : Guidance for FY13 DPU = 3.28ct ie 0.82ct / Q
- Indiabulls : No DPU Declared
- PCRT : DPU = 2.35ct (9-Jun-11 to 31-Dec-11) ; Includes $25Mil Additional Income (Drawn from Earn-Out Fund)
- TCT : DPU Declaration Delayed for 2H11 ; Above Yield Figure Uses 1H11 DPU
- HPH Trust : 2H11 DPU Payout = HK23.4ct ; Above Table Uses IPO Forecast to Compute Yield (Both DPU & Mkt Price in US$)
- a-iTrust : No DPU Payout as Semi-Annual Payout Policy
- K-Green : 2H DPU Payout = 4.69ct ; 1H DPU Payout = 3.13ct ; Above Table Uses FY11 DPU = 7.82ct to Calculate Yield
- CitySpring : Proposed 11-for-20 Rights Issue @ $0.39. TERP = $0.4835 @ $0.535 (Mkt Price) ; Annualised Yield (Profroma 2FY11) = 6.8% @ TERP (Before Rights = 8.4% @ $0.535)
- PCRT : IPO DPU Forecast – FY11 = 2.35ct ; FY12 = 3.86ct ; Semi-Annual Dividend Payout with 1st Payout for Dec-11 ; Listing on 9-Jun-11 2pm
- HPH Trust : IPO DPU Forecast – FY11 = US5.9ct (HK45.88ct) ; FY12 = US6.59ct (HK51.24ct)
- Indiabulls : IPO Forecast – 5.12ct (FY09) 1,325.4Mil Units (2,371.7Mil Units Issued) Entitled to Div ; 9.82ct (FY10)
Comments are Closed