February 2016

Results Announcement

• 2 Feb 16 : HPH-Trust (Updated)
  
• 3 Feb 16 : RHT (Updated)
  
• 4 Feb 16 (AM) : CRCT (Updated)
  
• 10 Feb 16 : Accordia (Updated)
  
• 11 Feb 16 (AM) : CRT (Updated)
  
• 11 Feb 16 : Saizen (Updated)
  
• 17 Feb 16 : IREIT (Updated)
  
• 19 Feb 16 : Rickmers (Updated)
  
• 23 Feb 16 (AM) : APTT (Updated)
  
• 23 Feb 16 : FSL (Updated)
  
• 23 Feb 16 : LMIR (Updated)
  
• 24 Feb 16 (AM) : FE-HTrust (Updated)
  

REITs : Average Yield = 7.396%

NOTES :

• Mkt Price is as on 29-Feb-16
• IREIT : DPU 80% Hedged @ €1 : S$1.52 for FY16
• CRCT : : Annualised DPU = 10.28ct for Q415
• MGCT : DPU Not Paid as Semi-Annual Payout Policy
• FHT : DPU Not Paid as Semi-Annual Payout Policy
• A-HTrust : DPU Not Paid as Semi-Annual Payout Policy
  
• CDL H-Trust : Above Yield is Computed using last 4Qs DPU : 10.06ct = 5.37ct (2H15) + 4.69ct (1H15)
• PLife : Annualised DPU = 13.48ct ; Includes Divestment Gain = 0.38ct (4^th of 4 Tranches ie Final Tranche)
• YTL StarHill : Annualised DPU = 5.24ct
• Suntec : Above Yield is Computed Using DPU = 10.002ct (FY15) = 2.75ct (Q415) + 2.522ct (Q315) + 2.5ct (Q215) + 2.23ct (Q115)
• VIT : Annualised DPU = 6.483ct
• CLT : Annualised DPU = 8.49ct ; DPU = 1.174ct (13-Nov-15 to 31-Dec-15) + 0.9ct (1-Oct-15 to 12-Nov-15) Already Paid
• Sabana : Annualised DPU = 5.95ct
• A-REIT : DPU Not Paid as Semi-Annual Payout Policy
• FCOT : Annualised DPU = 9.96ct
• CMT : Annualised DPU = 11.43ct
• FCT : Above Yield is Computed using last 4Qs DPU : 11.608ct = 2.87ct (Dec15) + 2.859ct (Sep15) + 3.036ct (Jun15) + 2.963ct (Mar15)
• FirstREIT : Annualised DPU = 8.3ct
  
• SPHREIT : Above Yield is Computed using last 4Qs DPU = 1.33ct (Nov15) + 1.39ct (Aug15) + 1.35ct (May15) + 1.40ct (Feb15) =5.47ct
• BHG REIT : IPO Prospectus ; DPU : FY15 = 0.76ct (1-Nov-15 to 31-Dec-15) / 0.53ct if exclude sponsor waiver ; FY16 = 5.08ct / 3.56ct if exclude sponsor waiver ; Gearing = 33.5% ; NAV = $0.826 ; Listing on 11-Dec-15 2pm @ $0.80
• Cambridge : Annualised DPU = 4.777ct
• Saizen : DPU Hedged @ Y85.6(Jun-15) & Y87 for 1H16 (Mar-16)
• IREIT Global : Rights Circular ; 45-for-100 Rights Issue @ $0.468 (TERP = $0.7004 @ $0.805) ; Proforma FY14 DPU = €1.53cts (Same as Actual) ; NAV = €0.48 -> €0.41 ; Gearing 31.8% -> 43.7%
• Keppel DC REIT : IPO Prospectus ; DPU : FY15 = 6.36ct ; FY16 = 6.65ct ; Gearing = 27.8% ; NAV = $0.87 ; Listing on 11-Dec-14 2pm @ $0.88
• IREIT Global : IPO Prospectus ; DPU : FY14 (1-Jul-14 to 31-Dec-14) = 3.33ct ; FY15 = 7.01ct ; FY16 = 7.01ct ; Gearing = 33.2% ; NAV = $0.78 ; Listing on 13-Aug-14 2pm @ $0.88
• FHT : IPO Prospectus ; DPU : FY14 (1-Apr-14 to 30-Sep-14) = 3.04ct / 2.86ct if Exclude Top Up ; FY15 = 6.16ct (5.72ct if Exclude) ; Gearing = 41.7% ; NAV = $0.83 ; Listing on 14-Jul-14 2pm @ $0.88
• OUE C-REIT : IPO Prospectus ; DPU : FY14 = 5.44ct / 4.45ct if Exclude Income Support ; FY15 = 5.51ct (4.6ct if Exclude) ; Gearing = 42.3% ; NAV = $1.043 ; Listing on 27-Jan-14 2pm @ $0.88
• 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 @ $0.78
• MLT : Includes 0.2ct Divestment Gain for 8 Qs from Q114 (Jun13)

Shipping Trusts (non-REITs)

NOTES :

• All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.4049 : US$1 fm Yahoo Finance)
• Rickmers
  : DPU Suspended fm Q315
• 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 :

• APTT : Above Yield uses DPU = 6.5ct as FY16 Guidance = 6.5ct to 7ct (1.625ct/Q ; Q4 May Have Additional DPU)
• CroesusRT : Exchange Rate Y100 = S$1.2442 ; Annualised DPU = 6.94ct ; Hedged Rate – FY16 @ Y85.03 ; FY17 @ Y84.16
• Accordia : DPU Not Paid as Semi-Annual Payout Policy ; Above Yield Computed Using 1H (Sep15) DPU = 2.32ct
  
• RHT : DPU Not Paid as Semi-Annual Payout Policy
  
• HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.7725 : US$1 fm Yahoo Finance) ; Yield Computed Using 1H (Jun15) = HK15.7ct + 2H (Dec15) = HK18.7ct
• Indiabulls : DPU Not Paid as Semi-Annual Payout Policy
  
• a-iTrust : DPU Not Paid as Semi-Annual Payout Policy
  
• APTT
  : FY15 Guidance = 8.25ct (Q1,Q2,Q3 = 2ct + Q4 =2.25ct)
• Indiabulls : Yield Computed Using 0.069ct (2H15) + 0.0638ct (1H16)
• Indiabulls : 5-for-1 Shares Consolidation on 25-Aug-15
• KIT : Previously Cityspring + Offer of Units-in-Specie for Previous KIT ; Started Trading on 18 May 15
• Accordia Golf Trust : IPO Prospectus ; DPU : FY15 (1-Aug-14 to 31-Mar-15) = 6.2ct / Annualised = 6.8ct (Excl. Non-Recurring) – Used in Above Yield Computation or 8.8ct (Incl Non-Recurring) ; Gearing & NAV Computed Using IPO Prospectus Figures ; Listing on 1-Aug-14 2pm @ $0.97
• Forterra : Delisted on 13-Feb-15 9AM
• PCRT : Delisted on 5-Feb-15 9AM
• 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
• 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
• 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