Author: kktan

 

Performance – July 2013

STI +1.73% : 3221.93 (Jul-13) vs 3167.08 (2012)

Rank – Capital Gains

REIT

Jul-13

Dec-12

Gain

PLife REIT

$ 2.50

$ 2.15

16.3%

First REIT

$1.215

$1.060

14.6%

SPH REIT

$0.980

$0.900

8.9%

Fortune Reit HK$

$6.840

$6.370

7.4%

AIMSAMPIReit

$1.590

$1.495

6.4%

StarHill

$0.820

$0.785

4.5%

SaizenREIT

$0.185

$0.181

2.2%

Sabana REIT

$1.165

$1.140

2.2%

MGCT

$0.940

$0.930

1.1%

LippoMapleT

$0.495

$0.490

1.0%

OUE H-Trust

$0.885

$0.880

0.6%

MIT

$1.350

$1.360

-0.7%

Cambridge

$0.670

$0.675

-0.7%

FCOT

$1.305

$1.320

-1.1%

K-REIT

$1.270

$1.295

-1.9%

MCT

$ 1.19

$ 1.22

-2.1%

CLT

$1.205

$1.240

-2.8%

Ascendasreit

$2.300

$2.370

-3.0%

FrasersCT

$1.920

$2.000

-4.0%

CapitaMall

$ 2.03

$ 2.13

-4.7%

SuntecReit

$1.590

$1.675

-5.1%

FE-HTrust

$0.935

$1.005

-7.0%

MapletreeLog

$1.065

$1.145

-7.0%

CapitaRChina

$1.530

$1.645

-7.0%

AscottREIT

$1.255

$1.360

-7.7%

A-HTrust

$0.845

$0.940

-10.1%

CDL HTrust

$1.665

$1.880

-11.4%

CapitaComm

$1.405

$1.685

-16.6%

NOTES :

  • Not Adjusted for Rights or New Issues Which May Be at a Discount
  • Jul-13 : End Jul-13 Mkt Price
  • Dec-12 : End Dec-12 Mkt Price
  • Gain : Capital Gains = (Jul-13 Mkt Price – Dec-12 Mkt Price) / (Dec-12 Mkt Price)
  • MGCT : Listed on 7-Mar-13 2pm @ $0.93
  • SPH REIT : Listed on 24-Jul-13 2pm @ $0.90
  • OUE H-Trust : Listed on 25-Jul-13 2pm @ $0.88


     

August 1, 2013 Performance Comments Off on Performance – July 2013

July 2013

 

Results Announcement

  • 15 Jul 13 : Fortune (Tables Updated)
  • 15 Jul 13 : KepREIT (Tables Updated)
  • 15 Jul 13 : KGT (Table Updated)
  • 16 Jul 13 : A-REIT (Tables Updated)
  • 17 Jul 13 (AM) : CCT (Tables Updated)
  • 17 Jul 13 : Sabana (Tables Updated)
  • 18 Jul 13 (AM) : CRCT (Tables Updated)
  • 18 Jul 13 : MLT (Tables Updated)
  • 19 Jul 13 (AM) : CMT (Tables Updated)
  • 19 Jul 13 : Suntec (Tables Updated)
  • 22 Jul 13 : a-iTrust (Table Updated)
  • 23 Jul 13 (AM) : ART (Tables Updated)
  • 23 Jul 13 : FCT (Tables Updated)
  • 23 Jul 13 : StarHill (Tables Updated)
  • 24 Jul 13 (AM) : Cambridge (Tables Updated)
  • 24 Jul 13 (2PM) : SPH REIT IPO (Tables Updated)
  • 24 Jul 13 : CLT (Tables Updated)
  • 24 Jul 13 : FCOT (Tables Updated)
  • 24 Jul 13 : MCT (Tables Updated)
  • 25 Jul 13 (AM) : AIMSAMPReit (Tables Updated)
  • 25 Jul 13 (2PM) : OUE H-Trust IPO (Tables Updated)
  • 25 Jul 13 : MIT (Tables Updated)
  • 25 Jul 13 : FSL (Table Updated)
  • 26 Jul 13 (AM) : CDL H-Trust (Tables Updated)
  • 26 Jul 13 : Rickmers (Table Updated)
  • 26 Jul 13 : FirstREIT (Tables Updated)
  • 30 Jul 13 : MGCT (Tables Updated)
  • 30 Jul 13 : HPH-Trust (Table Updated)
  • 1 Aug 13 : LMIR
  • 5 Aug 13 (AM) : Forterra
  • 7 Aug 13 : PCRT
  • 13 Aug 13 : CitySpring

 

 

REITs : Average Yield = 6.378%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

AscendasHT

2H – Mar13

3.662

$0.845

8.667%

$0.820

35.30%

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

Sabana REIT

Q2 – Jun13

2.400

$1.165

8.266%

$1.060

37.10%

Industrial (21)

Cambridge

Q2 – Jun13

1.240

$0.670

7.424%

$0.670

35.80%

Industrial (51)

MapletreeInd

Q1 – Jun13

2.430

$1.350

7.200%

$1.110

35.80%

Industrial (83)

LippoMalls

Q1 – Mar13

0.890

$0.495

7.192%

$0.565

24.30%

Retail (Indonesia)

OUE HT

FY13 – IPO

4.770

$0.885

7.154%

$0.903

33.20%

Hotel + Retail

CACHE

Q2 – Jun13

2.147

$1.205

7.147%

$0.960

29.20%

Industrial : Singapore (12) + Shanghai (1)

SaizenREIT

1H – Dec12

0.660

$0.185

7.135%

$0.250

39.00%

Residential (Japan)

AscottREIT

1H – Jun13

4.700

$1.255

7.122%

$1.360

40.20%

Serviced Apts : AsiaPacific (62%) + Europe (38%)

MapletreeLog

Q1 – Jun13

1.800

$1.065

6.761%

$0.920

34.00%

Industrial (110)

Frasers Comm

Q3 – Jun13

2.185

$1.305

6.728%

$1.450

39.50%

Office + Retail

CDL Htrust

1H – Jun13

5.410

$1.665

6.553%

$1.600

29.70%

Hotels : Singapore (79.5%) + Australia (12.2%) + NZ (4.1%) + Maldives (4.2%)

AIMSAMPI Reit

Q1 – Jun13

2.500

$1.590

6.289%

$1.501

25.40%

Industrial (25)

Kep REIT

Q2 – Jun13

1.970

$1.270

6.220%

$1.270

44.20%

Offices : Singapore (5) + Australia (4)

CapitaRChina

1H – Jun13

4.690

$1.530

6.183%

$1.420

23.50%

Retail (China) – 9

Ascendasreit

Q1 – Jun13

3.550

$2.300

6.174%

$1.938

28.60%

Industrial

First REIT

Q2 – Jun13

1.850

$1.215

5.959%

$0.897

33.40%

Hospitals (10) + Hotel (Indonesia – 1) + Nursing Home (Singapore – 3)

FrasersCT

Q3 – Jun13

2.850

$1.920

5.938%

$1.540

30.40%

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

Far East HTrust

Q1 – Mar13

1.380

$0.935

5.904%

$0.958

29.30%

Hotels + Serviced Apts

MapletreeCom

Q1 – Jun13

1.753

$1.190

5.892%

$1.070

40.80%

Retail + Office

Starhill Gbl

Q2 – Jun13

1.190

$0.820

5.817%

$0.880

30.30%

Retail (89%) + Office (11%)

MapletreeGCC

Q1 – Jun13

1.734

$0.940

5.809%

$0.949

41.50%

Retail + Office (China + HK)

CapitaComm

1H – Jun13

4.010

$1.405

5.758%

$1.650

28.90%

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

SuntecReit

Q2 – Jun13

2.249

$1.590

5.674%

$2.037

36.50%

Retail + Office

Fortune Reit HK$

1H – Jun13

18.000

$6.840

5.263%

$10.010

20.90%

Retail (HK)

SPHREIT

FY13 – IPO

2.510

$0.980

5.122%

$0.890

27.30%

Retail (2)

CapitaMall

Q2 – Jun13

2.530

$2.030

5.000%

$1.680

34.90%

Retail (15) + Office

PLife REIT

Q1 – Mar13

2.640

$2.500

4.224%

$1.550

31.60%

Hospitals

NOTES :

  • Mkt Price is as on 31-Jul-13
  • MGCT : DPU Not Paid as Semi-Annual Policy ; Annualised DPU = 5.46ct (DPU from 7-Mar-13 to 30-Jun-13)
  • FirstREIT : Annualised DPU = 7.24ct ; DPU = 0.86ct (22-May-13 to 30-Jun-13) + 0.99ct (1-Apr-13 to 21-May-13) Already Paid
  • CDL H-Trust : Annualised DPU = 10.91ct
  • 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
  • AIMSAMPReit : DPU = 1.65ct (2-May-13 to 30-Jun-13) + 0.85ct (1-Apr-13 to 1-May-13) Advanced DPU Paid ; DPU = 2.78ct (if use 449,399,302 Units on issue as at 31 March 2013 before placement in May 2013)
  • FCOT : Annualised DPU = 8.78ct
  • CLT : Annualised DPU = 8.612ct
  • 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
  • Cambridge : Annualised DPU = 4.974ct ; DPU = 1.127ct (Capital) + 0.095ct (Capital Gains) due to $13.9Mil Performance Fee payable in cash
  • StarHill Global : Annualised DPU = 4.77ct
  • FCT : DPU includes 1H retained cash of 0.05 cents per unit
  • ART : Yield Computed Using 1H13 DPU = 4.7ct + 2H12 DPU = 4.238ct ; Actual DPU = 4.081ct (6-Feb-13 to 30-Jun-13) + Advanced DPU = 0.617ct (1-Jan-13 to 5-Feb-13) Already Paid
  • Suntec : Annualised DPU = 9.021ct ; Includes Capital = 0.345ct
  • CMT : Annualised DPU = 10.15ct
  • MLT : Includes 0.2ct Divestment Gain (for next 8 Qs)
  • CRCT : Annualised DPU = 9.46ct
  • Sabana : Annualised DPU = 9.63ct
  • CCT : Annualised DPU = 8.09ct
  • KepREIT : Annualised DPU = 7.9ct
  • 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)
  • 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

Q2 – Jun13

0

$0.107

0.000%

$0.480

Shipping Trust

Rickmers

Q2 – Jun13

0.6

$0.285

10.728%

$0.620

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2739: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)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

CitySpring

Q4 – Mar13

0.82

$0.490

6.694%

$0.234

Infrastructure – Water + Gas + Power

K-Green

1H – Jun13

7.82

$1.025

7.629%

$0.990

Energy (Incineration) + Water (NEWater)

AscendasIndT

Q1 – Jun13

1.14

$0.715

6.378%

$0.600

India – Industrial Park

Indiabulls

2H – Mar13

0.0166

$0.102

0.325%

$0.390

India – Office

HPH Trust US$

1H – Jun13

18.7

$0.740

6.517%

HK$7.35

Ports – HK + China

ForterraTr

2H – Dec12

—

$2.160

0.000%

$4.250

China – Retail + Office + Industrial

PerennialCRT

Q1 – Mar13

0.95

$0.565

6.814%

$0.710

China Retail

Religare

FY13 (Mar)

3.55

$0.850

9.295%

$0.860

India – Healthcare

Croesus RTr

FY14 – IPO

7.39

$0.935

7.904%

$0.906

Japan – Retail

Asian Pay TV Tr

FY13 – IPO

7.29

$0.900

8.100%

$0.934

Taiwan PayTV

NOTES :

  • HPH Trust : DPU in HK$ ; Mkt Price in US$ ; Yield Computed Using Latest Exchange Rate HK$7.7551: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

 

 

 

July 31, 2013 Yield Comments Off on July 2013

Gearing – Jul13

 

REIT

Assets

Debts

Gearing

Shares

Major Shareholders

A-HTrust

S$1112M

S$393M

35.3%

807,070,324

Ascendas 28.74% ; Aberdeen 10.0397% ; Accor 5.75%

A-REIT

S$7017M

S$2006M

28.6%

2,401,131,331

Ascendas 17.06% ; Matthews 5.04%

AIMSAMPIReit

S$1097M

S$279M

25.4%

525,310,000

AMP 9.00% ; Dragon Pacific 11.86% ; APG 9.32% ; USS 6.998% ; George Wang 7.17%

AscottREIT

S$3324M

S$1317M

40.2%

1,261,596,000

Temasek 46.95%

Cambridge

S$1340M

S$473M

35.8%

1,230,317,703

Franklin 7.90% ; Templeton 7.04% ; Chan Wai Kheong 7.01% ; MacKenzie 6.03% ; Capital Grp 5.9153%

CapitaRChina

S$1738M

S$411M

23.5%

750,861,096

Capitaland 37.04% (CMT 20%) ; Capital Grp 7.9825% ; AIA 6.4833% ; Matthews 6.97% ; PGGM 5.946%

CCT

S$7056M

S$2042M

28.9%

2,874,598,116

Temasek 32.03% ; Capital Group 5.9067% ; CBRE 5.97%

CDL HTrust

S$2274M

S$676M

29.7%

972,645,590

Hong Leong 32.324%

CLT

S$1074M

S$313M

29.2%

775,273,116

CWT 9.12% ; Capital Grp 5.8666% ; Newton Investment 7.12%

CMT

S$9739M

S$3329M

34.9%

3,457,738,315

CMA 28.50% ; NTUC 5.72%

FE-HTrust

S$2208M

S$647M

29.3%

1,608,768,939

Far East 56% ; APG 5%

First REIT

S$1071M

S$358M

33.4%

705,234,148

Lippo 33.13%

Fortune

HK$22867M

HK$4727M

20.9%

1,704,730,532

Cheung Kong 30.95% ; Schroder 13.09% ; Temasek 6.02%

FrasersCT

S$1936M

S$589M

30.4%

824,382,795

TCC 41.01% ; AIA 6.0126% ; Capital Group 6.0395%

FrasersComm

S$1784M

S$705M

39.5%

657,538,987

TCC 27.58%

K-REIT

S$6228M

S$2931M

44.2%

2,681,601,092

Temasek 51.52%

LMIR

S$1946M

S$473M

24.3%

2,199,880,488

Lippo 29.5% ; Stitching 9.95% ; CPI-Capital 8.5% ; ABN AMRO 6.51% ; Sumitomo 5.03%

MCT

S$3895M

S$1586M

40.8%

2,069,243,000

Temasek 42.66% ; AIA 7.63%

MGCT

S$4695m

S$1947M

41.5%

2,661,709,000

Temasek 32% ; CBRE 5.06%

MIT

S$3047M

S$1093M

35.8%

1,652,717,496

Temasek 31.63% ; Schroder 8% ; Capital Grp 6.23% ; AIG 5.40%

MLT

S$4272M

S$1450M

34.0%

2,436,067,881

Temasek 40.99% ; Capital Grp 7.14% ; BOA 6.445% ; Mellon Corp 5.94%

OUE H-Trust

S$1768M

S$587M

33.2%

1,308,600,000

OUE 42.7% ; CS 9.6%

PLife

S$1444M

S$457M

31.6%

605,002,000

Parkway Pantai 35.77% ; TPG Capital 14% ; Newton (Bank of New York) 10.71% ; Sunil 6.03%

Sabana

S$1151M

S$415M

37.1%

649,704,185

Kua Family 10.6797%

Saizen

JPY46,310M

JPY18,100M

39.0%

1,418,763,795

V-Nee Yeh (ASM, HCL) 11.913%

SPH REIT

S$3116M

S$841M

27.3%

2,500,995,000

SPH 70%

Starhill Gbl

S$2836M

S$858M

30.3%

2,153,218,267

YTL 36.27% ; AIA 9.0968%

Suntec

S$7854M

S$2866M

36.5%

2,260,947,360

Asean Inv 5.4439% ; Cheng YT 5.81%

Notes :

  • This table will be updated mainly during Quarterly Reporting Season + Fund Raising Exercises
  • The Major Shareholders data may not be up-to-date. Pls chk SGX Annc to verify

 

July 30, 2013 Gearing Comments Off on Gearing – Jul13

Performance – June 2013

STI -0.53% : 3150.44 (Jun-13) vs 3167.08 (2012)

Rank – Capital Gains

REIT

Jun-13

Dec-12

Gain

First REIT

$1.215

$1.060

14.6%

Fortune Reit HK$

$7.110

$6.370

11.6%

PLife REIT

$2.360

$2.150

9.8%

AIMSAMPIReit

$1.640

$1.495

9.7%

StarHill

$0.845

$0.785

7.6%

Cambridge

$0.725

$0.675

7.4%

FCOT

$1.380

$1.320

4.5%

SaizenREIT

$0.184

$0.181

1.7%

MGCT

$0.945

$0.930

1.6%

Sabana REIT

$1.155

$1.140

1.3%

CLT

$1.250

$1.240

0.8%

LippoMapleT

$0.490

$0.490

0.0%

K-REIT

$1.295

$1.295

0.0%

MCT

$1.185

$1.215

-2.5%

MIT

$1.320

$1.360

-2.9%

MapletreeLog

$ 1.10

$ 1.15

-3.9%

FE-Htrust

$0.965

$1.005

-4.0%

AscottREIT

$1.290

$1.360

-5.1%

Ascendasreit

$2.230

$2.370

-5.9%

SuntecReit

$1.575

$1.675

-6.0%

CapitaMall

$1.995

$2.130

-6.3%

FrasersCT

$1.870

$2.000

-6.5%

CDL Htrust

$1.700

$1.880

-9.6%

A-Htrust

$0.835

$0.940

-11.2%

CapitaComm

$1.465

$1.685

-13.1%

CapitaRChina

$1.410

$1.645

-14.3%

NOTES :

  • Not Adjusted for Rights or New Issues Which May Be at a Discount
  • Jun-13 : End Jun-13 Mkt Price
  • Dec-12 : End Dec-12 Mkt Price
  • Gain : Capital Gains = (Jun-13 Mkt Price – Dec-12 Mkt Price) / (Dec-12 Mkt Price)
  • MGCT : Listed on 7-Mar-13 2pm @ $0.93
June 30, 2013 Performance Comments Off on Performance – June 2013

June 2013

 

REITs : Average Yield = 6.321%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

AscendasHT

2H – Mar13

3.662

$0.835

8.770%

$0.820

35.30%

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

Sabana REIT

Q1 – Mar13

2.410

$1.155

8.459%

$1.060

37.70%

Industrial (21)

LippoMalls

Q1 – Mar13

0.890

$0.490

7.265%

$0.565

24.30%

Retail (Indonesia)

CACHE

Q1 – Mar13

2.234

$1.250

7.248%

$0.960

29.20%

Industrial : Singapore (11) + Shanghai (1)

MapletreeInd

Q4 – Mar13

2.370

$1.320

7.182%

$1.100

34.80%

Industrial (83)

SaizenREIT

1H – Dec12

0.660

$0.184

7.174%

$0.250

39.00%

Residential (Japan)

AIMSAMPI Reit

Q4 – Mar13

2.840

$1.640

6.927%

$1.476

34.00%

Industrial (25)

Cambridge

Q1 – Mar13

1.234

$0.725

6.903%

$0.655

35.30%

Industrial (51)

AscottREIT

Q1 – Mar13

2.250

$1.290

6.787%

$1.320

36.00%

Serviced Apts (Regional)

CapitaRChina

Q1 – Mar13

2.310

$1.410

6.645%

$1.310

25.40%

Retail (China)

CDL Htrust

Q1 – Mar13

2.690

$1.700

6.418%

$1.590

28.30%

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

MapletreeLog

Q4 – Mar13

1.730

$1.100

6.291%

$0.900

34.10%

Industrial (111)

Kep REIT

Q1 – Mar13

1.970

$1.295

6.170%

$1.290

43.30%

Offices : Singapore + Australia

Ascendasreit

FY13 – Mar13

13.740

$2.230

6.161%

$1.913

28.30%

Industrial

MapletreeCom

Q4 – Mar13

1.737

$1.185

5.863%

$1.060

40.90%

Retail + Office

Frasers Comm

Q2 – Mar13

1.988

$1.380

5.848%

$1.500

31.70%

Office + Retail

First REIT

Q1 – Mar13

1.740

$1.215

5.811%

$0.836

27.10%

Hospitals + Hotel (Indonesia)

FrasersCT

Q2 – Mar13

2.700

$1.870

5.775%

$1.540

30.50%

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

SuntecReit

Q1 – Mar13

2.228

$1.575

5.737%

$2.035

36.10%

Retail + Office

Far East HTrust

Q1 – Mar13

1.380

$0.965

5.720%

$0.958

29.30%

Hotels + Serviced Apts

Starhill Gbl

Q1 – Mar13

1.180

$0.845

5.669%

$0.960

30.50%

Retail (89%) + Office (11%)

MapletreeGCC

FY14 – IPO

5.240

$0.945

5.545%

$0.910

43.00%

Retail + Office (China + HK)

CapitaComm

Q1 – Mar13

1.960

$1.465

5.427%

$1.620

30.40%

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

Fortune Reit HK$

Q1 – Mar13

9.000

$7.110

5.063%

$8.820

23.10%

Retail (HK)

CapitaMall

Q1 – Mar13

2.460

$1.995

5.003%

$1.640

35.20%

Retail (15) + Office

PLife REIT

Q1 – Mar13

2.640

$2.360

4.475%

$1.550

31.60%

Hospitals

NOTES :

  • Mkt Price is as on 28-Jun-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

$0.107

0.000%

$0.480

Shipping Trust

Rickmers

Q1 – Mar13

0.6

$0.270

11.258%

$1.030

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2665: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

$0.470

6.979%

$0.234

Infrastructure – Water + Gas + Power

K-Green

2H – Dec12

7.82

$1.045

7.483%

$1.010

Energy (Incineration) + Water (NEWater)

AscendasIndT

2H – Mar13

2.25

$0.715

6.294%

$0.670

India – Industrial Park

Indiabulls

2H – Mar13

0.0166

$0.101

0.329%

$0.390

India – Office

HPH Trust US$

FY12 – IPO

6.59

$0.735

8.966%

HK$7.48

Ports – HK + China

ForterraTr

2H – Dec12

—

$1.760

0.000%

$4.250

China – Retail + Office + Industrial

PerennialCRT

Q1 – Mar13

0.95

$0.545

7.064%

$0.710

China Retail

Religare

FY13 (Mar)

3.55

$0.850

9.295%

$0.860

India – Healthcare

Croesus RTr

FY14 – IPO

7.39

$0.950

7.779%

$0.906

Japan – Retail

Asian Pay TV Tr

FY13 – IPO

7.29

$0.850

8.576%

$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

 

 

 

June 30, 2013 Yield Comments Off on June 2013