October 2012
Results Announcement
- 15 Oct 12 : KGT (Table Updated)
- 15 Oct 12 : KepREIT (Tables Updated)
- 17 Oct 12 : A-REIT (Tables Updated)
- 18 Oct 12 : Sabana (Tables Updated)
- 18 Oct 12 : MLT (Tables Updated)
- 18 Oct 12 : IndiaBulls (Table Updated)
- 19 Oct 12 : CMT (Tables Updated)
- 19 Oct 12 : Religare (IPO – Tables Updated)
- 19 Oct 12 : a-iTrust (Table Updated for Advance DPU)
- 23 Oct 12 (AM) : CRCT (Tables Updated)
- 23 Oct 12 (AM) : FCT (Tables Updated)
- 23 Oct 12 : ART (Tables Updated)
- 23 Oct 12 : MIT (Tables Updated)
- 24 Oct 12 (AM) : AIMSAMPReit (Tables Updated)
- 24 Oct 12 : CLT (Tables Updated)
- 24 Oct 12 : FirstREIT (Tables Updated)
- 24 Oct 12 : HPH-Trust (Not Updated)
- 25 Oct 12 : MCT (Tables Updated)
- 25 Oct 12 : a-iTrust (Table Updated)
- 25 Oct 12 : Suntec (Tables Updated)
- 25 Oct 12 : FCOT (Tables Updated)
- 25 Oct 12 : CCT (Tables Updated)
- 29 Oct 12 (AM) : TCT (Table Updated)
- 29 Oct 12 : FSL (Table Updated)
- 29 Oct 12 : StarHill Global (Tables Updated)
- 30 Oct 12 (AM) : CDL H-Trust (Tables Updated)
- 30 Oct 12 : Fortune (Tables Updated)
- 30 Oct 12 : Rickmers (Table Updated)
- 1 Nov 12 (AM) : Cambridge
- 1 Nov 12 : CitySpring
- 6 Nov 12 (AM) : PCRT
- 6 Nov 12 : A-HTrust
- 8 Nov 12 (AM) : PLife
- 9 Nov 12 (AM) : Saizen
- 9 Nov 12 : LMIR
REITs : Average Yield = 6.184%
REIT |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Gearing |
Assets Type |
Sabana REIT |
Q3 – Sep12 |
2.340 |
$1.110 |
8.387% |
$1.030 |
38.30% |
Industrial |
AscendasHT |
FY13 – IPO |
4.610 |
$0.910 |
7.486% |
$0.814 |
34.30% |
Hotels (Australia, Japan, China) |
SaizenREIT |
2H – Jun12 |
0.630 |
$0.173 |
7.283% |
$0.300 |
31.40% |
Residential (Japan) |
Cambridge |
Q2 – Jun12 |
1.180 |
$0.665 |
7.137% |
$0.612 |
35.80% |
Industrial |
AscottREIT |
Q3 – Sep12 |
2.240 |
$1.275 |
7.027% |
$1.370 |
40.60% |
Serviced Apts (Regional) |
CACHE |
Q3 – Sep12 |
2.144 |
$1.230 |
6.934% |
$0.900 |
32.60% |
Industrial |
First REIT |
Q3 – Sep12 |
1.680 |
$1.045 |
6.861% |
$0.791 |
15.90% |
Hospitals + Hotel (Indonesia) |
AIMSAMPI Reit |
Q2 – Sep12 |
2.500 |
$1.490 |
6.711% |
$1.443 |
31.50% |
Industrial |
Kep REIT |
Q3 – Sep12 |
1.960 |
$1.190 |
6.555% |
$1.230 |
44.10% |
Office |
MapletreeInd |
Q2 – Sep12 |
2.290 |
$1.400 |
6.543% |
$1.020 |
37.20% |
Industrial |
LippoMalls |
Q2 – Jun12 |
0.790 |
$0.485 |
6.515% |
$0.560 |
9.30% |
Retail (Indonesia) |
CapitaRChina |
Q3 – Sep12 |
2.420 |
$1.560 |
6.173% |
$1.250 |
30.40% |
Retail (China) |
MapletreeLog |
Q2 – Sep12 |
1.710 |
$1.110 |
6.162% |
$0.880 |
37.00% |
Industrial |
Ascendasreit |
Q2 – Sep12 |
3.530 |
$2.360 |
5.983% |
$1.845 |
32.50% |
Industrial |
SuntecReit |
Q3 – Sep12 |
2.350 |
$1.605 |
5.825% |
$1.946 |
37.80% |
Retail + Office |
Far East HTrust |
FY12 – IPO |
2.320 |
$0.985 |
5.656% |
$0.930 |
30.50% |
Hotels + Serviced Apts |
Starhill Gbl |
Q3 – Sep12 |
1.110 |
$0.785 |
5.631% |
$0.940 |
31.20% |
Retail + Office |
CDL Htrust |
Q3 – Sep12 |
2.720 |
$1.935 |
5.592% |
$1.570 |
25.50% |
Hotels : Singapore (82.5%) + Australia (13%) + NZ (4.5%) |
FrasersCT |
Q4 – Sep12 |
2.710 |
$1.955 |
5.545% |
$1.530 |
30.10% |
Retail |
Frasers Comm |
2H – Sep12 |
3.448 |
$1.245 |
5.539% |
$1.500 |
36.80% |
Office + Retail |
Fortune Reit HK$ |
Q3 – Sep12 |
8.160 |
$6.120 |
5.333% |
$8.320 |
24.60% |
Retail (HK) |
CapitaComm |
Q3 – Sep12 |
2.040 |
$1.570 |
5.172% |
$1.580 |
30.90% |
Office (63%) + Retail (22%) + Hotel (15%) |
MapletreeCom |
Q2 – Sep12 |
1.546 |
$1.210 |
5.111% |
$0.952 |
37.70% |
Retail + Office |
PLife REIT |
Q2 – Jun12 |
2.480 |
$2.040 |
4.863% |
$1.460 |
36.40% |
Hospitals |
CapitaMall |
Q3 – Sep12 |
2.420 |
$2.110 |
4.564% |
$1.620 |
37.60% |
Retail + Office |
NOTES :
- Mkt Price is as on 31-Oct-12
- Fortune :No DPU Payout as Semi-Annual DPU Payout Policy
- CDL H-Trust : Annualised DPU = 10.82ct ; No DPU Payout as Semi-Annual DPU Payout Policy
- StarHill Global : Annualised DPU = 4.42ct
- CCT : Annualised DPU = 8.12ct
- FCOT : Quarterly DPU Payout from Dec Quarter
- Suntec : Annualised DPU = 9.349ct
- FirstREIT : Annualised DPU = 7.17ct
- CLT : Annualised DPU = 8.529ct
- ART : DPU Not Paid as Semi-Annual Payout Policy
- CRCT : Annualised DPU Payout = 9.63ct ; DPU Not Paid as Semi-Annual Payout Policy
- CMT : Annualised DPU Payout = 9.63ct
- Sabana : Annualised DPU = 9.31ct
- K-REIT : Annualised DPU Payout = 7.80ct ; Quarterly DPU Payout Policy from Q312
- FE-HTrust : IPO Prospectus ; DPU : FY12 = 2.32ct (Forecast Period 1-Aug-12 to 31-Dec-12 ; Entitlement only from Listing Date) / FY13 = 5.83ct ; Yield : FY12 = 5.99% / FY13 = 6.27% ; Gearing = 30.5% ; NAV = $0.93 ; Listing on 27-Aug-12 2pm
- PLife : Annualised DPU = 9.92ct
- 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
- FCT
: A total of $2.3 million has been retained in 1H12 (1Q12: $1.6 million + 2Q12: $0.7 million) + 3Q12 : $1.172 million
- A-REIT : Private Placement (3 May 12) – 150Mil @ $1.99 ; Listing on 14 May 12 2pm
- 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
Shipping Trusts (non-REITs)
Trust |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Assets Type |
FSL Trust |
Q3 – Sep12 |
0 |
$0.127 |
0.000% |
$0.490 |
Shipping Trust |
Rickmers |
Q3 – Sep12 |
0.6 |
$0.365 |
8.018% |
$0.990 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2194:US$1 fm Yahoo Finance)
- Rickmers : 10% Payout (of Cash flow available for distribution before payment to debt capital providers)
- FSL : 30-Jun-12 : Suspends Div Payout till 30-Jun-13
Other Trusts (non-REITs)
Trust |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Assets Type |
CitySpring |
Q1 – Jun12 |
0.82 |
$0.445 |
7.371% |
$0.225 |
Infrastructure – Water + Gas + Power |
K-Green |
1H12 – Jun |
7.82 |
$1.010 |
7.743% |
$1.050 |
Energy (Incineration) + Water (NEWater) |
AscendasIndT |
1H – Sep12 |
2.5 |
$0.760 |
6.319% |
$0.640 |
India – Industrial Park |
Indiabulls |
1H – Sep12 |
0.0184 |
$0.125 |
0.294% |
$0.426 |
India – Office |
HPH Trust US$ |
FY12 – IPO |
6.59 |
$0.780 |
8.449% |
HK$7.58 |
Ports – HK + China |
TCT |
Q3 – Sep12 |
— |
$1.430 |
0.000% |
$4.090 |
China – Retail + Office + Industrial |
PerennialCRT |
1H – Jun12 |
1.9 |
$0.480 |
7.958% |
$0.680 |
China Retail |
Religare |
FY13 – IPO |
4 |
$0.800 |
10.000% |
$0.870 |
India – Healthcare |
NOTES :
- Religare : Prospectus ; IPO @ $0.90 ; FY13 DPU = 4ct (1-Oct-12 to 31-Mar-13) Yield = 8.9% (Sponsor Waiver to DPU) / 6.42% (if no waiver) ; FY14 DPU = 8.17ct Yield = 9.1% (waiver) / 6.54% (no waiver) ; Gearing = 6.7%
- a-iTrust : 1-Apr-12 to 8-Oct-12 ; 1H DPU = 2.4ct (90% Payout)
- HPH-Trust : No DPU Payout as Semi-Annual Payout Policy
- Indiabulls : Maiden DPU Declared since Listing on 11-Jun-08
- PCRT : Annualised DPU = 3.82ct ; DPU Includes $21.217Mil Additional Income (To Be Drawn from Earn-Out Fund)
- TCT : No DPU Declared since 2H11 ; Last DPU = 5ct on 1H11
- HPH Trust : 1H12 DPU Payout = HK24.05ct ; Above Table Uses IPO Forecast to Compute Yield (Both DPU & Mkt Price in US$)
- K-Green : 1H12 DPU Payout = 3.13ct ; 2H11 DPU Payout = 4.69ct ; Above Table Uses 2H11 + 1H12 DPU = 7.82ct to Calculate Yield
- CitySpring : Guidance for FY13 DPU = 3.28ct ie 0.82ct / Q
- 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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