May 2013

Results Announcement

  • 2 May 13 (AM) : Forterra (Table Updated)
  • 2 May 13 : LMIR (Tables Updated)
  • 3 May 13 : CitySpring (Table Updated)
  • 7 May 13 (AM) : PCRT (Table Updated)
  • 8 May 13 (AM) : FE-HTrust (Tables Updated)
  • 9 May 13 (AM) : PLife (Tables Updated)
  • 9 May 13 : Fortune (Tables Updated)
  • 10 May 13 (AM) : Saizen (Tables Updated)
  • 17 May 13 : IndiaBulls (Table Updated)
  • 21 May 13 : Religare (Table Updated)

     

 

 

REITs : Average Yield = 5.975%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

AscendasHT

2H – Mar13

3.662

$0.895

8.182%

$0.820

35.30%

Hotels : Australia (70%) + Japan (20%) + China (10%)

Sabana REIT

Q1 – Mar13

2.410

$1.220

8.008%

$1.060

37.70%

Industrial (21)

SaizenREIT

1H – Dec12

0.660

$0.183

7.213%

$0.250

39.00%

Residential (Japan)

CACHE

Q1 – Mar13

2.234

$1.290

7.023%

$0.960

29.20%

Industrial : Singapore (11) + Shanghai (1)

LippoMalls

Q1 – Mar13

0.890

$0.515

6.913%

$0.565

24.30%

Retail (Indonesia)

AIMSAMPI Reit

Q4 – Mar13

2.840

$1.645

6.906%

$1.476

34.00%

Industrial (25)

MapletreeInd

Q4 – Mar13

2.370

$1.395

6.796%

$1.100

34.80%

Industrial (83)

Cambridge

Q1 – Mar13

1.234

$0.760

6.586%

$0.655

35.30%

Industrial (51)

AscottREIT

Q1 – Mar13

2.250

$1.345

6.509%

$1.320

36.00%

Serviced Apts (Regional)

CapitaRChina

Q1 – Mar13

2.310

$1.565

5.987%

$1.310

25.40%

Retail (China)

CDL Htrust

Q1 – Mar13

2.690

$1.840

5.929%

$1.590

28.30%

Hotels : Singapore (82.5%) + Australia (13%) + NZ (4.5%)

Ascendasreit

FY13 – Mar13

13.740

$2.320

5.922%

$1.913

28.30%

Industrial

MapletreeLog

Q4 – Mar13

1.730

$1.210

5.719%

$0.900

34.10%

Industrial (111)

Frasers Comm

Q2 – Mar13

1.988

$1.425

5.663%

$1.500

31.70%

Office + Retail

Kep REIT

Q1 – Mar13

1.970

$1.420

5.627%

$1.290

43.30%

Offices : Singapore + Australia

Starhill Gbl

Q1 – Mar13

1.180

$0.870

5.506%

$0.960

30.50%

Retail (89%) + Office (11%)

First REIT

Q1 – Mar13

1.740

$1.295

5.452%

$0.836

27.10%

Hospitals + Hotel (Indonesia)

Far East HTrust

Q1 – Mar13

1.380

$1.025

5.385%

$0.958

29.30%

Hotels + Serviced Apts

FrasersCT

Q2 – Mar13

2.700

$2.030

5.320%

$1.540

30.50%

Retail (5) + 31.17% of Hektar (MREIT)

SuntecReit

Q1 – Mar13

2.228

$1.725

5.238%

$2.035

36.10%

Retail + Office

CapitaComm

Q1 – Mar13

1.960

$1.520

5.230%

$1.620

30.40%

Office (65%) + Retail (21%) + Hotel (14%)

MapletreeCom

Q4 – Mar13

1.737

$1.335

5.204%

$1.060

40.90%

Retail + Office

MapletreeGCC

FY14 – IPO

5.240

$1.015

5.163%

$0.910

43.00%

Retail + Office (China + HK)

Fortune Reit HK$

Q1 – Mar13

9.000

$7.210

4.993%

$8.820

23.10%

Retail (HK)

CapitaMall

Q1 – Mar13

2.460

$2.150

4.642%

$1.640

35.20%

Retail (15) + Office

PLife REIT

Q1 – Mar13

2.640

$2.490

4.241%

$1.550

31.60%

Hospitals

NOTES :

  • Mkt Price is as on 31-May-13
  • Saizen : DPU Not Paid as Semi-Annual Policy
  • Fortune : DPU Not Paid as Semi-Annual Policy
  • PLife : Annualised DPU = 10.56ct
  • A-HTrust : DPU = 3.23ct (if no sponsor waiver)
  • FCOT : Annualised DPU = 8.07ct
  • ART : Yield Computed Using 1H DPU = 4.517ct + 2H DPU = 4.238ct ; Actual DPU = 2.25ct (Includes Realised Exchange Gain S$8Mil) Not Paid as Semi-Annual Policy ; Advanced DPU = 0.617ct (1-Jan-13 to 5-Feb-13) Already Paid
  • StarHill Global : Annualised DPU = 4.79ct (Excludes 0.19ct from Toshin Rental Arrears) ; Actual Payout = 1.37ct (Includes 0.19ct from Toshin Rental Arrears)
  • CDL H-Trust : Annualised DPU = 10.91ct ; DPU Not Paid as Semi-Annual Policy
  • Suntec : Annualised DPU = 9.036ct ; Includes Capital Gains = 0.12ct
  • CLT : Annualised DPU = 9.06ct ; DPU = 2.121ct (1-Jan-13 to 26-Mar-13) xd + 0.113ct (27-Mar-13 to 31-Mar-13) cd
  • FirstREIT : Annualised DPU = 7.06ct
  • MCT : DPU = 1.737ct includes 0.603ct Advance DPU Paid on 27-Feb-13 for the period 1-Jan-13 to 3-Feb-13
  • CRCT : Annualised DPU = 9.37ct ; DPU Not Paid as Semi-Annual Policy
  • CMT : Annualised DPU = 9.98ct
  • CCT : Annualised DPU = 7.95ct
  • Sabana : Annualised DPU = 9.77ct
  • Cambridge : Annualised DPU = 5.005ct
  • FCT : DPU excludes retained cash of 0.15 cents per unit
  • AIMSAMPReit : DPU = 3.14ct includes 0.3ct from Capital Gains ; Above Yield Excludes the Capital Gain Component
  • A-REIT : Q4 DPU = 3.06ct (3.37ct before Performance Fee) ; Above Yield Uses FY DPU to Smoothen the Full Impact of Performance Fee
  • KepREIT : DPU = 1.35ct (1-Jan-13 to 3-Mar-13) xd + 0.62ct (4-Mar-13 to 31-Mar-13) cd ; Annualised DPU = 7.99ct
  • MGCT : IPO Prospectus ; DPU : FY14 (Mar) = 5.24ct / FY15 (Mar) = 5.69ct ; Yield : FY14 = 5.634% / FY15 = 6.118% ; Gearing = 43% ; NAV = $0.91 ; Listing on 7-Mar-13 2pm
  • 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
  • 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
  • A-REIT : Private Placement (3 May 12) – 150Mil @ $1.99 ; Listing on 14 May 12 2pm
  • MCT : IPO Forecast DPU = 4.97ct (FY12) ; 5.42ct (FY13) ; Listing on 27-Apr-11 2pm

  
 

Shipping Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

FSL Trust

Q1 – Mar13

0

$0.123

0.000%

$0.480

Shipping Trust

Rickmers

Q1 – Mar13

0.6

$0.280

10.832%

$1.030

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2637: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

Q4 – Mar13

0.82

$0.480

6.833%

$0.234

Infrastructure – Water + Gas + Power

K-Green

2H – Dec12

7.82

$1.070

7.308%

$1.010

Energy (Incineration) + Water (NEWater)

AscendasIndT

2H – Mar13

2.25

$0.760

5.921%

$0.670

India – Industrial Park

Indiabulls

2H – Mar13

0.0166

$0.110

0.302%

$0.390

India – Office

HPH Trust US$

FY12 – IPO

6.59

$0.790

8.342%

HK$7.48

Ports – HK + China

ForterraTr

2H – Dec12

$1.900

0.000%

$4.250

China – Retail + Office + Industrial

PerennialCRT

Q1 – Mar13

0.95

$0.585

6.581%

$0.710

China Retail

Religare

FY13 (Mar)

3.55

$0.950

8.317%

$0.860

India – Healthcare

Croesus RTr

FY14 – IPO

7.39

$0.995

7.427%

$0.906

Japan – Retail

Asian Pay TV Tr

FY13 – IPO

7.29

$0.930

7.839%

$0.934

Taiwan PayTV

NOTES :

  • APTT : Prospectus ; IPO @ $0.97 ; FY13 DPU = 7.29ct Yield = 7.51% ; FY14 DPU = 8.25ct Yield = 8.51% ; List on 29-May-13 2pm
  • Religare : DPU = 3.55ct (19-Oct-13 to 31-Mar-13) or 2.554ct (if no Sponsor Waiver)
  • Croesus : Prospectus ; IPO @ $0.93 ; FY14 DPU = 7.39ct Yield = 7.946% ; FY15 DPU = 7.49ct Yield = 8.054% ; Gearing = 43.7% ; List on 10-May-13 2pm
  • CitySpring : Guidance for FY14 DPU = 3.28ct ie 0.82ct / Q
  • HPH-Trust : No DPU Payout as Semi-Annual Payout Policy
  • a-iTrust : Actual DPU Payout = 2.15ct (9 Oct 12 to 31 Mar 13) ; Advanced DPU Already Paid = 0.1ct (1 Oct 12 to 8 Oct 12) ; 90% Payout
  • Forterra (TCT) : No DPU Declared since 2H11 ; Last DPU = 5ct on 1H11
  • Religare : Prospectus ; IPO @ $0.90 ; FY13 DPU = 4ct (1-Oct-12 to 31-Mar-13) Yield = 8.9% (Sponsor Waiver to DPU) / 6.42% (if no waiver) ; FY14 DPU = 8.17ct Yield = 9.1% (waiver) / 6.54% (no waiver) ; Gearing = 6.7%
  • Indiabulls : Maiden DPU on 1H (sep12) Declared since Listing on 11-Jun-08
  • HPH Trust : 1H12 DPU Payout = HK24.05ct ; Above Table Uses IPO Forecast to Compute Yield (Both DPU & Mkt Price in US$)
  • K-Green : 1H12 DPU Payout = 3.13ct ; 2H11 DPU Payout = 4.69ct ; Above Table Uses 2H11 + 1H12 DPU = 7.82ct to Calculate Yield

 

 

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