.
Results Announcement
- 19 Apr 12 : MLT
- 24 Apr 12 : MIT
- 26 Apr 12 : MCT
REITs : Average Yield = 7.266%
|
REIT
|
Period
|
DPU cts
|
Mkt
|
Yield
|
NAV
|
Gearing
|
Assets Type
|
|
AIMSAMPI Reit
|
Q3 – Dec11
|
2.6
|
$1.125
|
9.244%
|
$1.367
|
30.70%
|
Industrial
|
|
Sabana REIT
|
Q4 – Dec11
|
2.17
|
$0.955
|
9.016%
|
$1.050
|
34.10%
|
Industrial
|
|
SaizenREIT
|
1H – Dec11
|
0.61
|
$0.143
|
8.531%
|
$0.350
|
32.66%
|
Residential (Japan)
|
|
CACHE
|
Q4 – Dec11
|
2.102
|
$1.000
|
8.339%
|
$0.910
|
29.60%
|
Industrial
|
|
Cambridge
|
Q4 – Dec11
|
1.118
|
$0.535
|
8.292%
|
$0.620
|
33.10%
|
Industrial
|
|
First REIT
|
Q4 – Dec11
|
1.93
|
$0.860
|
8.151%
|
$0.805
|
16.00%
|
Hospitals + Hotel (Indonesia)
|
|
LippoMalls
|
1H11 – Rights
|
1.63
|
$0.405
|
8.049%
|
$0.598
|
8.70%
|
Retail (Indonesia)
|
|
SuntecReit
|
Q4 – Dec11
|
2.479
|
$1.250
|
7.933%
|
$1.968
|
37.30%
|
Retail + Office
|
|
MapletreeInd
|
Q3 – Dec11
|
2.16
|
$1.100
|
7.855%
|
$0.960
|
39.10%
|
Industrial
|
|
AscottREIT
|
2H – Dec11
|
4.063
|
$1.065
|
7.630%
|
$1.360
|
40.80%
|
Serviced Apts (Regional)
|
|
CapitaRChina
|
2H – Dec11
|
4.42
|
$1.235
|
7.158%
|
$1.280
|
28.00%
|
Retail (China)
|
|
Frasers Comm
|
Q1 – Dec11
|
1.51
|
$0.840
|
7.155%
|
$1.330
|
36.80%
|
Retail + Office
|
|
MapletreeLog
|
Q4 – Dec11
|
1.7
|
$0.945
|
7.153%
|
$0.840
|
41.40%
|
Industrial
|
|
Fortune Reit HK$
|
2H – Dec11
|
13.5
|
$3.860
|
6.995%
|
$7.850
|
18.80%
|
Retail (HK)
|
|
K-REIT
|
Proforma – FY10
|
6.72
|
$0.965
|
6.964%
|
$1.260
|
41.60%
|
Office
|
|
Ascendasreit
|
Q3 – Dec11
|
3.48
|
$2.020
|
6.891%
|
$1.748
|
34.30%
|
Industrial
|
|
CDL Htrust
|
2H – Dec11
|
5.71
|
$1.735
|
6.582%
|
$1.600
|
25.30%
|
Hotels
|
|
MapletreeCom
|
Q3 – Dec11
|
1.428
|
$0.875
|
6.491%
|
$0.951
|
37.70%
|
Retail + Office
|
|
Starhill Gbl
|
Q4 – Dec11
|
1.01
|
$0.640
|
6.266%
|
$0.940
|
30.80%
|
Retail + Office
|
|
CapitaComm
|
2H – Dec11
|
3.75
|
$1.220
|
6.148%
|
$1.570
|
30.20%
|
Office + Retail + Hotel
|
|
FrasersCT
|
Q1 – Dec11
|
2.2
|
$1.520
|
5.789%
|
$1.410
|
30.80%
|
Retail
|
|
PLife REIT
|
Q4 – Dec11
|
2.47
|
$1.795
|
5.504%
|
$1.460
|
34.80%
|
Hospitals
|
|
CapitaMall
|
Q4 – Dec11
|
2.3
|
$1.805
|
4.975%
|
$1.560
|
38.40%
|
Retail + Office
|
NOTES :
- Mkt Price is as on 30-Mar-12
- LMIR : Q411 DPU = 0.53ct ; Above Uses 1H11 (Rights) Proforma DPU as Acquisition of New Assets Completed Only on 6-Dec-11
- FCOT : Annualised DPU = 6.01ct ; No DPU Payout as Semi-Annual Payout Policy
- Cambridge : Annualised DPU = 4.436ct
- MCT : Annualised DPU = 5.68ct
- StarHill Global : Annualised DPU = 4.01ct
- PLife : Annualised DPU = 9.88ct
- FirstREIT : Annualised DPU = 7.01ct ; DPU Includes 0.34ct on Gain from Divestment of Asset
- Sabana : Annualised DPU = 8.61ct
- FCT : Actual DPU Payout = 2.20ct (1-Oct-11 to 31-Dec-11) + 0.28ct (23-Sep-11 to 30-Sep-11)
- CLT : Annualised DPU = 8.339ct
- CMT : Q4 DPU = 1.28ct (10 Nov 11 to 31 Dec 11) + Advance Distribution ; Above Yield Figures Based on 1.28ct (Annualised @ 8.98ct)
- K-REIT : Actual DPU Payout = 2.45ct (Q411 DPU = 1.4ct) ; Above Table Uses Rights Proforma Figures as New Assets Acquisition Only Completed on 14-Dec-11
- 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
|
Q4 – Dec11
|
0.1
|
$0.210
|
2.397%
|
$0.530
|
Shipping Trust
|
|
Rickmers
|
Q4 – Dec11
|
0.6
|
$0.310
|
9.742%
|
$0.910
|
Shipping Trust
|
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2584:US$1 fm Yahoo Finance)
- PST : Last Day of Trading on 31-Jan-12
- 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
|
Q3 – Dec11
|
0.82
|
$0.385
|
8.519%
|
$0.279
|
Infrastructure – Water + Gas + Power
|
|
K-Green
|
FY11 – Dec11
|
7.82
|
$0.990
|
7.899%
|
$1.050
|
Energy (Incineration) + Water (NEWater)
|
|
AscendasIndT
|
Q3 – Dec11
|
1.5
|
$0.830
|
7.229%
|
$0.700
|
India – Industrial Park
|
|
Indiabulls
|
Q3 – Dec11
|
–
|
$0.136
|
–
|
$0.451
|
India – Office
|
|
HPH Trust US$
|
FY12 – IPO
|
6.59
|
$0.765
|
8.614%
|
HK$7.70
|
Ports – HK + China
|
|
TCT
|
1H – Jun11
|
5
|
$1.425
|
7.018%
|
$4.620
|
China – Retail + Office + Industrial
|
|
PerennialCRT
|
FY11
|
2.35
|
$0.520
|
7.135%
|
$0.710
|
China Retail
|
NOTES :
- PCRT : DPU = 2.35ct (9-Jun-11 to 31-Dec-11) ; Includes $25Mil Additional Income (Drawn from Earn-Out Fund)
- TCT : DPU Declaration Delayed for 2H11 ; Above Yield Figure Uses 1H11 DPU
- HPH Trust : 2H11 DPU Payout = HK23.4ct ; Above Table Uses IPO Forecast to Compute Yield (Both DPU & Mkt Price in US$)
- Indiabulls : No DPU Declared
- 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 : Guidance for FY12 DPU = 0.82ct / Quarter (Post 11-for-20 Rights Issue)
- 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)
