July 2012
Results Announcement
- 16 Jul 12 : K-REIT (Tables Updated)
- 16 Jul 12 : KGT (Table Updated)
- 17 Jul 12 : A-REIT (Tables Updated)
- 18 Jul 12 (AM) : CMT (Tables Updated)
- 19 Jul 12 (AM) : AIMSAMPReit (Tables Updated)
- 19 Jul 12 : Suntec (Tables Updated)
- 19 Jul 12 : Sabana (Tables Updated)
- 19 Jul 12 : FCT (Tables Updated)
- 19 Jul 12 : MLT (Tables Updated)
- 20 Jul 12 (AM) : CCT (Tables Updated)
- 20 Jul 12 : Fortune (Tables Updated)
- 23 Jul 12 : FSL (Table Updated)
- 24 Jul 12 (AM) : TCT (Table Updated)
- 24 Jul 12 : a-iTrust (Table Updated)
- 24 Jul 12 : FirstREIT (Tables Updated)
- 24 Jul 12 : MIT (Tables Updated)
- 24 Jul 12 : StarHill Global (Tables Updated)
- 25 Jul 12 (AM) : CRCT (Tables Updated)
- 25 Jul 12 : CLT (Tables Updated)
- 25 Jul 12 : FCOT (Tables Updated)
- 25 Jul 12 : MCT (Tables Updated)
- 26 Jul 12 : HPH Trust (Table Updated)
- 27 Jul 12 (AM) : CDL H-Trust (Tables Updated)
- 27 Jul 12 (2PM) : A-HTrust IPO (Tables Updated)
- 27 Jul 12 : ART (Tables Updated)
- 30 Jul 12 (AM) : Cambridge (Tables Updated)
- 2 Aug 12 (AM) : PLife
- 2 Aug 12 : CitySpring
- 6 Aug 12 : Rickmers
- 8 Aug 12 (AM) : PCRT
REITs : Average Yield = 6.678%
REIT |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Gearing |
Assets Type |
Sabana REIT |
Q2 – Jun12 |
2.270 |
$1.010 |
9.040% |
$1.040 |
34.10% |
Industrial |
SaizenREIT |
1H – Dec11 |
0.610 |
$0.154 |
7.922% |
$0.310 |
32.00% |
Residential (Japan) |
Cambridge |
Q2 – Jun12 |
1.180 |
$0.600 |
7.910% |
$0.612 |
35.80% |
Industrial |
AscendasHT |
FY13 – IPO |
4.610 |
$0.875 |
7.786% |
$0.814 |
34.30% |
Hotels |
AIMSAMPI Reit |
Q1 – Jun12 |
2.500 |
$1.285 |
7.782% |
$1.400 |
29.70% |
Industrial |
First REIT |
Q2 – Jun12 |
1.930 |
$0.950 |
7.442% |
$0.795 |
15.90% |
Hospitals + Hotel (Indonesia) |
AscottREIT |
1H – Jun12 |
4.517 |
$1.225 |
7.375% |
$1.420 |
39.70% |
Serviced Apts (Regional) |
CACHE |
Q1 – Mar12 |
2.086 |
$1.105 |
7.211% |
$0.910 |
27.70% |
Industrial |
K-REIT |
1H – Jun12 |
3.840 |
$1.110 |
6.955% |
$1.230 |
43.90% |
Office |
MapletreeInd |
Q1 – Jun12 |
2.260 |
$1.300 |
6.954% |
$1.020 |
37.70% |
Industrial |
CapitaRChina |
1H – Jun12 |
4.820 |
$1.435 |
6.753% |
$1.330 |
28.10% |
Retail (China) |
MapletreeLog |
Q1 – Jun12 |
1.700 |
$1.015 |
6.700% |
$0.880 |
37.00% |
Industrial |
LippoMalls |
Q1 – Mar12 |
0.690 |
$0.415 |
6.651% |
$0.566 |
9.20% |
Retail (Indonesia) |
SuntecReit |
Q2 – Jun12 |
2.361 |
$1.445 |
6.572% |
$1.955 |
37.50% |
Retail + Office |
Frasers Comm |
Q3 – Jun12 |
1.700 |
$1.090 |
6.275% |
$1.300 |
39.50% |
Office + Retail |
Ascendasreit |
Q1 – Jun12 |
3.530 |
$2.270 |
6.167% |
$1.836 |
32.70% |
Industrial |
Starhill Gbl |
Q2 – Jun12 |
1.080 |
$0.710 |
6.113% |
$0.940 |
30.50% |
Retail + Office |
CapitaComm |
1H – Jun12 |
3.960 |
$1.340 |
5.940% |
$1.580 |
30.10% |
Office (61%) + Retail (22%) + Hotel (17%) |
MapletreeCom |
Q1 – Jun12 |
1.537 |
$1.070 |
5.766% |
$0.952 |
37.60% |
Retail + Office |
Fortune Reit HK$ |
1H – Jun12 |
15.820 |
$5.540 |
5.711% |
$8.340 |
24.50% |
Retail (HK) |
CDL Htrust |
1H – Jun12 |
5.700 |
$2.050 |
5.590% |
$1.600 |
25.20% |
Hotels : Singapore (82.5%) + Australia (13%) + NZ (4.5%) |
FrasersCT |
Q3 – Jun12 |
2.600 |
$1.800 |
5.556% |
$1.410 |
31.70% |
Retail |
PLife REIT |
Q1 – Mar12 |
2.560 |
$1.960 |
5.224% |
$1.460 |
35.30% |
Hospitals |
CapitaMall |
Q2 – Jun12 |
2.380 |
$1.960 |
4.883% |
$1.620 |
37.50% |
Retail + Office |
NOTES :
- Mkt Price is as on 31-Jul-12
- Cambridge : Annualised DPU = 4.746ct
- A-HTrust : Listing on 27-Jul-12 2pm ; FY13 DPU = 4.61ct (27 Jul 12 to 31 Mar 13) incl. Waiver of 0.61ct from Sponsor entitlement ; FY14 DPU = 7.07ct ; Gearing = 37.6% Post-IPO Acquisition of Ibis Beijing SanYuan; IPO Prospectus
- CDL H-Trust : Annualised DPU = 11.46ct
- MCT : Annualised DPU = 6.17ct
- FCOT : Annualised DPU = 6.84ct ; No DPU Payout as Semi-Annual Payout Policy
- CLT : Annualised DPU = 7.968ct
- CRCT : Annualised DPU Payout = 9.69ct
- StarHill Global : Annualised DPU = 4.34ct
- FirstREIT : Annualised DPU = 7.07ct ; DPU Includes 0.34ct on Gain from Divestment of Asset ; Last Q to Include Other Gains for DPU (Annualised DPU = 6.39ct if Exclude Other Gains)
- CCT : Annualised DPU = 7.96ct
- FCT : A total of $2.3 million has been retained in 1H12 (1Q12: $1.6 million + 2Q12: $0.7 million) + 3Q12 : $1.172 million
- Sabana : Annualised DPU = 9.13ct
- Suntec : Annualised DPU = 9.496ct
- CMT : Annualised DPU Payout = 9.57ct
- K-REIT : Annualised DPU Payout = 7.72ct ; Will Change to Quarterly DPU Payout Policy from Q312
- 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
- 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 |
Q2 – Jun12 |
0 |
$0.150 |
0.000% |
$0.490 |
Shipping Trust |
Rickmers |
Q1 – Mar12 |
0.6 |
$0.320 |
9.334% |
$0.940 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2445:US$1 fm Yahoo Finance)
- FSL : 30-Jun-12 : Suspends Div Payout till 30-Jun-13
- 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 |
$0.420 |
7.810% |
$0.279 |
Infrastructure – Water + Gas + Power |
K-Green |
1H12 – Jun |
7.82 |
$0.975 |
8.021% |
$1.040 |
Energy (Incineration) + Water (NEWater) |
AscendasIndT |
Q1 – Jun12 |
1.2 |
$0.775 |
6.194% |
$0.590 |
India – Industrial Park |
Indiabulls |
Q4 – Mar12 |
— |
$0.103 |
— |
$0.453 |
India – Office |
HPH Trust US$ |
FY12 – IPO |
6.59 |
$0.760 |
8.671% |
HK$7.58 |
Ports – HK + China |
TCT |
1H – Jun12 |
0.00 |
$1.430 |
0.000% |
$4.490 |
China – Retail + Office + Industrial |
PerennialCRT |
Q1 – Mar12 |
0.94 |
$0.490 |
7.776% |
$0.680 |
China Retail |
NOTES :
- TCT : No DPU Declared since 2H11 ; Last DPU = 5ct on 1H11
- HPH Trust : 1H12 DPU Payout = HK24.05ct ; Above Table Uses IPO Forecast to Compute Yield (Both DPU & Mkt Price in US$)
- a-iTrust : No DPU Payout as Semi-Annual Payout Policy ; DPU based on 90% Payout
- K-Green : 1H12 DPU Payout = 3.13ct ; 2H11 DPU Payout = 4.69ct ; Above Table Uses 2H11 + 1H12 DPU = 7.82ct to Calculate Yield
- 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)
- 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)
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