May 2014

Results Announcement

• 2 May 14 (AM) : PLife (Table Updated)
  
• 2 May 14 : Rickmers (Table Updated)
  
• 5 May 14 : CitySpring (Table Updated)
  
• 5 May 14 : LMIR (Table Updated)
  
• 5 May 14 : Forterra (Table Updated)
  
• 5 May 14 : OUE H-Trust (Table Updated)
  
• 6 May 14 (AM) : APTT (Table Updated)
  
• 6 May 14 : PCRT(Table Updated)
  
• 7 May 14 (AM) : AIMSAMPReit (Table Updated)
  
• 8 May 14 : OUE C-Trust (Table Updated)
  
• 8 May 14 : Saizen (Table Updated)
  
• 14 May 14 : VIT (Table Updated)
  
• 15 May 14 (AM) : CRT (Table Updated)
  
• 15 May 14 : A-HTrust (Table Updated)
  
• 15 May 14 : FSL (Table Updated)
  

REITs : Average Yield = 6.403%

NOTES :

• Mkt Price is as on 30-May-14
• A-HTrust : DPU Payout = 2.8813ct = 2.8129ct (1-Oct-13 to 31-Mar-14) + 0.0684ct (1-Apr-14 to 8-Apr-14) Already xd on 4-Apr-14
• VIT : Annualised DPU = 6.984ct
• OUE C-Trust : For the Period 27-Jan-14 to 31-Mar-14
• CRCT : DPU Not Paid as Semi-Annual Payout Policy
• PLife : Annualised DPU = 11.28ct
• SB REIT : Annualised DPU = 6.028ct (Excludes One-Off Income of $400k)
• StarHill Global : Annualised DPU = 5.03ct
• CDL H-Trust : DPU Not Paid as Semi-Annual Payout Policy ; Annualised DPU = 11.15ct
• CRCT : DPU Not Paid as Semi-Annual Payout Policy ; Annualised DPU = 9.73ct
• Suntec : Annualised DPU = 9.04ct ; DPU = Advanced 2.105ct (1-Jan to 26-Mar) Already Paid + 0.124ct (27-Mar to 31-Mar)
• AscottREIT : DPU Not Paid as Semi-Annual Payout Policy
• FCOT : Annualised DPU = 8.31ct
• CMT : Annualised DPU = 10.42ct
• CLT : Annualised DPU = 8.679ct
• FCT : Above Yield is Computed using last 4Qs DPU = 11.21ct ie 2.5ct (Dec13) + 2.98ct (Sep13) + 2.85ct (Jun13) + 2.88ct (Mar14)
  
• CCT : DPU Not Paid as Semi-Annual Payout Policy
• Sabana : Annualised DPU = 7.62ct
• Cambridge : Annualised DPU = 5.074ct
• FirstREIT : Annualised DPU = 8.07ct
  
• Keppel REIT : Annualised DPU = 7.99ct
• 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
• Suntec : Includes Capital = 0.175ct
  
• Saizen : 5-to-1 Unit Consolidation on 5-Nov-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
• MLT : Includes 0.2ct Divestment Gain for 8 Qs from Q114 (Jun13)
  
• 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
• 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
  

Shipping Trusts (non-REITs)

NOTES :

• All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2537:US$1 fm Yahoo Finance)
• Rickmers : 24% Payout
• 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 Not Paid as Semi-Annual Payout Policy
• APTT : DPU Not Paid as Semi-Annual Payout ; Above Yield uses FY14 (IPO Projection) DPU = 8.25ct ; ie 1H = 4.12ct + 2H = 4.13ct
• PCRT : DPU Not Paid as Semi-Annual Payout ; Annualised Yield = 3.85ct
• CitySpring : Guidance for FY15 DPU = 3.28ct ie 0.82ct / Q
• CroesusRT : Annualised DPU = 8.11ct ; Above DPU is for the Period 10-May-13 to 31-Dec-13 ; Exchange Rate Y100 = S$1.2332
• Indiabulls : No DPU Payout as Semi-Annual Policy
• Religare : No DPU Payout as Semi-Annual Policy
• HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.7527:US$1 fm Yahoo Finance) ; Yield Computed Using 1H (Jun13) = HK18.7ct + 2H (Dec13) = HK22.3ct
• a-iTrust : No DPU Payout as Semi-Annual Payout Policy ; Above DPU is based on 90% Payout
• Religare : DPU = 1.99ct (Q1) + 2.06ct (Q2) ; 1H DPU = 2.922ct if No Sponsor Waiver
• 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
• 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
• 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