December 2013

REITs : Average Yield = 6.768%

NOTES :

• Mkt Price is as on 31-Dec-13
• A-HTrust : DPU Payout 1.6692ct = 0.26ct (10-Jun-13 to 30-Jun-13) + 1.41ct (1-Jul-13 to 30-Sep-13)
• Fortune : DPU Not Paid as Semi-Annual Policy
  
• FE-HTrust : DPU = 0.94ct (1-Aug-13 to 31-Sep-13) + Advanced DPU 0.47ct (1-Jul-13 to 31-Jul-13)
• Saizen : No DPU Paid as Semi-Annual Policy
  
• PLife : Annualised DPU = 10.64ct
• Saizen : 5-to-1 Unit Consolidation on 5-Nov-13 ; Above Table Uses DPU = 0.63ct x 5
  
• OUE H-Trust : DPU = 1.24ct (25-Jul-13 to 30-Sep-13) Not Paid as 1^st DPU Payout will be in Dec-13
  
• Viva Industrial Trust : IPO Prospectus ; DPU : FY13 = 3.42ct (1-Jul-13 to 31-Dec-13) / 2.23ct if Exclude Income Support ; FY14 = 6.87ct (4.79ct if Exclude) ; FY15 = 7.03ct (5.19ct if Exclude) ; Gearing = 40.2% ; NAV = $0.74 ; Listing on 4-Nov-13 2pm
• Cambridge : Annualised DPU = 4.963ct
• SB REIT : Annualised DPU = 6.03ct (for the Period 16-Aug-13 to 30-Sep-13)
• CDL H-Trust : Annualised DPU = 10.47ct
  
• FirstREIT : Annualised DPU = 7.42ct
  
• StarHill Global : Annualised DPU = 4.8ct
• ART : DPU Not Paid as Semi-Annual Payout ; Computed Using 1H13 DPU = 4.7ct + 2H12 DPU = 4.238ct
  
• Suntec : Annualised DPU = 9.081ct ; Includes Capital = 0.199ct
  
• CMT : Annualised DPU = 10.16ct
• FCOT : Annualised DPU = 8.25ct
• CLT : Annualised DPU = 8.435ct
• CRCT : Annualised DPU = 8.97ct ; Not Paid as Semi-Annual Payout
  
• FCT : DPU includes Retained Cash of 0.35 cents per unit ; Above Yield is Computed using FY DPU = 10.93ct
  
• CCT : Annualised DPU = 8.09ct
  
• MLT : Includes 0.2ct Divestment Gain for 8 Qs from Q114 (Jun13)
  
• Sabana : Annualised DPU = 9.44ct ; DPU = Advanced (xd on 19-Sep) 2.2ct (1-Jul-13 to 23-Sep-13) + 0.18ct (24-Sep-13 to 30-Sep-13)
• KepREIT : Annualised DPU = 7.82ct
  
• SoilBuild Business Space REIT : IPO Prospectus ; DPU : FY13 = 4.37ct (1-Apr-13 to 31-Dec-13) / FY14 = 5.97ct ; Yield : FY13 = 7.47% / FY14 = 7.654% ; Gearing = 29.9% ; NAV = $0.80 ; Listing on 16-Aug-13 2pm
• MGCT : DPU Not Paid as Semi-Annual Policy ; Annualised DPU = 5.46ct (DPU from 7-Mar-13 to 30-Jun-13)
  
• OUE H-Trust : IPO Prospectus ; DPU : FY13 = 4.77ct (1-Apr-13 to 31-Dec-13) / FY14 = 6.57ct ; Yield : FY13 = 7.194% / FY14 = 7.466% ; Gearing = 33.2% ; NAV = $0.903 ; Listing on 25-Jul-13 2pm
• SPH REIT : IPO Prospectus ; DPU : FY13 (Aug) = 2.51ct (1-Mar-13 to 31-Aug-13) / FY14 (Aug) = 5.21ct ; Yield : FY13 = 5.578% / FY14 = 5.789% ; Gearing = 27.3% ; NAV = $0.88 ; Listing on 24-Jul-13 2pm
• 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)

NOTES :

• All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2624:US$1 fm Yahoo Finance)
• Rickmers : 16% Payout (of Cash flow available for distribution before payment to debt capital providers)
• FSL : 30-Jun-12 : Suspends Div Payout till 30-Jun-13 ; Restriction on DPU Payout Continues after 30-Jun-13

Other Trusts (non-REITs)

NOTES :

• CRT : DPU = 3.26ct (10-May-13 to 30-Sep-13) Not Paid as Semi-Annual Payout Policy
• APTT : 1st DPU Payout for Dec. Above Yield uses FY14 (IPO Projection) DPU = 8.25ct ; DPU Payout = 4.8ct ; 2H DPU Payout = 4.13ct as per IPO Prospectus of $128.3Mil ie 8.93ct
• Religare : DPU = 1.99ct (Q1) + 2.06ct (Q2) ; 1H DPU = 2.922ct if No Sponsor Waiver
• PCRT : Annualised DPU = 3.77ct ; DPU Not Paid as Semi-Annual Policy ; Includes $10.9Mil from Earn-Out Deed
• HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.7538:US$1 fm Yahoo Finance)
• a-iTrust : No DPU Payout as Semi-Annual Payout Policy ; Above DPU is based on 90% Payout
• K-Green : 1H13 DPU Payout = 3.13ct ; 2H12 DPU Payout = 4.69ct ; Above Table Uses 2H12 + 1H13 DPU = 7.82ct to Calculate Yield
  
• 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
• 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