Author: kktan
October 2012
Results Announcement
- 15 Oct 12 : KGT (Table Updated)
- 15 Oct 12 : KepREIT (Tables Updated)
- 17 Oct 12 : A-REIT (Tables Updated)
- 18 Oct 12 : Sabana (Tables Updated)
- 18 Oct 12 : MLT (Tables Updated)
- 18 Oct 12 : IndiaBulls (Table Updated)
- 19 Oct 12 : CMT (Tables Updated)
- 19 Oct 12 : Religare (IPO – Tables Updated)
- 19 Oct 12 : a-iTrust (Table Updated for Advance DPU)
- 23 Oct 12 (AM) : CRCT (Tables Updated)
- 23 Oct 12 (AM) : FCT (Tables Updated)
- 23 Oct 12 : ART (Tables Updated)
- 23 Oct 12 : MIT (Tables Updated)
- 24 Oct 12 (AM) : AIMSAMPReit (Tables Updated)
- 24 Oct 12 : CLT (Tables Updated)
- 24 Oct 12 : FirstREIT (Tables Updated)
- 24 Oct 12 : HPH-Trust (Not Updated)
- 25 Oct 12 : MCT (Tables Updated)
- 25 Oct 12 : a-iTrust (Table Updated)
- 25 Oct 12 : Suntec (Tables Updated)
- 25 Oct 12 : FCOT (Tables Updated)
- 25 Oct 12 : CCT (Tables Updated)
- 29 Oct 12 (AM) : TCT (Table Updated)
- 29 Oct 12 : FSL (Table Updated)
- 29 Oct 12 : StarHill Global (Tables Updated)
- 30 Oct 12 (AM) : CDL H-Trust (Tables Updated)
- 30 Oct 12 : Fortune (Tables Updated)
- 30 Oct 12 : Rickmers (Table Updated)
- 1 Nov 12 (AM) : Cambridge
- 1 Nov 12 : CitySpring
- 6 Nov 12 (AM) : PCRT
- 6 Nov 12 : A-HTrust
- 8 Nov 12 (AM) : PLife
- 9 Nov 12 (AM) : Saizen
- 9 Nov 12 : LMIR
REITs : Average Yield = 6.184%
|
REIT |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Gearing |
Assets Type |
|
Sabana REIT |
Q3 – Sep12 |
2.340 |
$1.110 |
8.387% |
$1.030 |
38.30% |
Industrial |
|
AscendasHT |
FY13 – IPO |
4.610 |
$0.910 |
7.486% |
$0.814 |
34.30% |
Hotels (Australia, Japan, China) |
|
SaizenREIT |
2H – Jun12 |
0.630 |
$0.173 |
7.283% |
$0.300 |
31.40% |
Residential (Japan) |
|
Cambridge |
Q2 – Jun12 |
1.180 |
$0.665 |
7.137% |
$0.612 |
35.80% |
Industrial |
|
AscottREIT |
Q3 – Sep12 |
2.240 |
$1.275 |
7.027% |
$1.370 |
40.60% |
Serviced Apts (Regional) |
|
CACHE |
Q3 – Sep12 |
2.144 |
$1.230 |
6.934% |
$0.900 |
32.60% |
Industrial |
|
First REIT |
Q3 – Sep12 |
1.680 |
$1.045 |
6.861% |
$0.791 |
15.90% |
Hospitals + Hotel (Indonesia) |
|
AIMSAMPI Reit |
Q2 – Sep12 |
2.500 |
$1.490 |
6.711% |
$1.443 |
31.50% |
Industrial |
|
Kep REIT |
Q3 – Sep12 |
1.960 |
$1.190 |
6.555% |
$1.230 |
44.10% |
Office |
|
MapletreeInd |
Q2 – Sep12 |
2.290 |
$1.400 |
6.543% |
$1.020 |
37.20% |
Industrial |
|
LippoMalls |
Q2 – Jun12 |
0.790 |
$0.485 |
6.515% |
$0.560 |
9.30% |
Retail (Indonesia) |
|
CapitaRChina |
Q3 – Sep12 |
2.420 |
$1.560 |
6.173% |
$1.250 |
30.40% |
Retail (China) |
|
MapletreeLog |
Q2 – Sep12 |
1.710 |
$1.110 |
6.162% |
$0.880 |
37.00% |
Industrial |
|
Ascendasreit |
Q2 – Sep12 |
3.530 |
$2.360 |
5.983% |
$1.845 |
32.50% |
Industrial |
|
SuntecReit |
Q3 – Sep12 |
2.350 |
$1.605 |
5.825% |
$1.946 |
37.80% |
Retail + Office |
|
Far East HTrust |
FY12 – IPO |
2.320 |
$0.985 |
5.656% |
$0.930 |
30.50% |
Hotels + Serviced Apts |
|
Starhill Gbl |
Q3 – Sep12 |
1.110 |
$0.785 |
5.631% |
$0.940 |
31.20% |
Retail + Office |
|
CDL Htrust |
Q3 – Sep12 |
2.720 |
$1.935 |
5.592% |
$1.570 |
25.50% |
Hotels : Singapore (82.5%) + Australia (13%) + NZ (4.5%) |
|
FrasersCT |
Q4 – Sep12 |
2.710 |
$1.955 |
5.545% |
$1.530 |
30.10% |
Retail |
|
Frasers Comm |
2H – Sep12 |
3.448 |
$1.245 |
5.539% |
$1.500 |
36.80% |
Office + Retail |
|
Fortune Reit HK$ |
Q3 – Sep12 |
8.160 |
$6.120 |
5.333% |
$8.320 |
24.60% |
Retail (HK) |
|
CapitaComm |
Q3 – Sep12 |
2.040 |
$1.570 |
5.172% |
$1.580 |
30.90% |
Office (63%) + Retail (22%) + Hotel (15%) |
|
MapletreeCom |
Q2 – Sep12 |
1.546 |
$1.210 |
5.111% |
$0.952 |
37.70% |
Retail + Office |
|
PLife REIT |
Q2 – Jun12 |
2.480 |
$2.040 |
4.863% |
$1.460 |
36.40% |
Hospitals |
|
CapitaMall |
Q3 – Sep12 |
2.420 |
$2.110 |
4.564% |
$1.620 |
37.60% |
Retail + Office |
NOTES :
- Mkt Price is as on 31-Oct-12
- Fortune :No DPU Payout as Semi-Annual DPU Payout Policy
- CDL H-Trust : Annualised DPU = 10.82ct ; No DPU Payout as Semi-Annual DPU Payout Policy
- StarHill Global : Annualised DPU = 4.42ct
- CCT : Annualised DPU = 8.12ct
- FCOT : Quarterly DPU Payout from Dec Quarter
- Suntec : Annualised DPU = 9.349ct
- FirstREIT : Annualised DPU = 7.17ct
- CLT : Annualised DPU = 8.529ct
- ART : DPU Not Paid as Semi-Annual Payout Policy
- CRCT : Annualised DPU Payout = 9.63ct ; DPU Not Paid as Semi-Annual Payout Policy
- CMT : Annualised DPU Payout = 9.63ct
- Sabana : Annualised DPU = 9.31ct
- K-REIT : Annualised DPU Payout = 7.80ct ; Quarterly DPU Payout Policy from Q312
- 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
- PLife : Annualised DPU = 9.92ct
- Cambridge : Annualised DPU = 4.746ct
- 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
- FCT
: A total of $2.3 million has been retained in 1H12 (1Q12: $1.6 million + 2Q12: $0.7 million) + 3Q12 : $1.172 million
- A-REIT : Private Placement (3 May 12) – 150Mil @ $1.99 ; Listing on 14 May 12 2pm
- 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
Shipping Trusts (non-REITs)
|
Trust |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Assets Type |
|
FSL Trust |
Q3 – Sep12 |
0 |
$0.127 |
0.000% |
$0.490 |
Shipping Trust |
|
Rickmers |
Q3 – Sep12 |
0.6 |
$0.365 |
8.018% |
$0.990 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2194: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 |
Q1 – Jun12 |
0.82 |
$0.445 |
7.371% |
$0.225 |
Infrastructure – Water + Gas + Power |
|
K-Green |
1H12 – Jun |
7.82 |
$1.010 |
7.743% |
$1.050 |
Energy (Incineration) + Water (NEWater) |
|
AscendasIndT |
1H – Sep12 |
2.5 |
$0.760 |
6.319% |
$0.640 |
India – Industrial Park |
|
Indiabulls |
1H – Sep12 |
0.0184 |
$0.125 |
0.294% |
$0.426 |
India – Office |
|
HPH Trust US$ |
FY12 – IPO |
6.59 |
$0.780 |
8.449% |
HK$7.58 |
Ports – HK + China |
|
TCT |
Q3 – Sep12 |
— |
$1.430 |
0.000% |
$4.090 |
China – Retail + Office + Industrial |
|
PerennialCRT |
1H – Jun12 |
1.9 |
$0.480 |
7.958% |
$0.680 |
China Retail |
|
Religare |
FY13 – IPO |
4 |
$0.800 |
10.000% |
$0.870 |
India – Healthcare |
NOTES :
- 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%
- a-iTrust : 1-Apr-12 to 8-Oct-12 ; 1H DPU = 2.4ct (90% Payout)
- HPH-Trust : No DPU Payout as Semi-Annual Payout Policy
- Indiabulls : Maiden DPU Declared since Listing on 11-Jun-08
- PCRT : Annualised DPU = 3.82ct ; DPU Includes $21.217Mil Additional Income (To Be Drawn from Earn-Out Fund)
- TCT : No DPU Declared since 2H11 ; Last DPU = 5ct on 1H11
- HPH Trust : 1H12 DPU Payout = HK24.05ct ; Above Table Uses IPO Forecast to Compute Yield (Both DPU & Mkt Price in US$)
- K-Green : 1H12 DPU Payout = 3.13ct ; 2H11 DPU Payout = 4.69ct ; Above Table Uses 2H11 + 1H12 DPU = 7.82ct to Calculate Yield
- CitySpring : Guidance for FY13 DPU = 3.28ct ie 0.82ct / Q
- 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)
Performance – October 2012
STI +14.81% : 3038.37 (Oct-12) vs 2646.35 (2011)
Rank – Capital Gains
|
REIT |
Oct-12 |
Dec-11 |
Gain |
|
FCOT |
$1.245 |
$0.740 |
68.2% |
|
Fortune Reit HK$ |
$6.120 |
$3.760 |
62.8% |
|
AIMSAMPIReit |
$1.490 |
$0.945 |
57.7% |
|
SuntecReit |
$1.605 |
$1.075 |
49.3% |
|
CapitaComm |
$1.570 |
$1.055 |
48.8% |
|
K-REIT |
$1.190 |
$0.830 |
43.4% |
|
MCT |
$1.210 |
$0.850 |
42.4% |
|
Cambridge |
$0.665 |
$0.475 |
40.0% |
|
StarHill |
$0.785 |
$0.565 |
38.9% |
|
LippoMapleT |
$0.485 |
$0.350 |
38.6% |
|
First REIT |
$1.045 |
$0.760 |
37.5% |
|
FrasersCT |
$1.955 |
$1.440 |
35.8% |
|
CapitaRChina |
$1.560 |
$1.150 |
35.7% |
|
MapletreeLog |
$1.110 |
$0.845 |
31.4% |
|
MIT |
$1.400 |
$1.075 |
30.2% |
|
CLT |
$1.230 |
$0.950 |
29.5% |
|
Ascendasreit |
$2.360 |
$1.830 |
29.0% |
|
AscottREIT |
$1.275 |
$0.990 |
28.8% |
|
Sabana REIT |
$1.110 |
$0.875 |
26.9% |
|
CDL Htrust |
$1.935 |
$1.545 |
25.2% |
|
CapitaMall |
$2.110 |
$1.700 |
24.1% |
|
SaizenREIT |
$0.173 |
$0.140 |
23.6% |
|
PLife REIT |
$2.040 |
$1.790 |
14.0% |
|
FE-Htrust |
$0.985 |
$0.930 |
5.9% |
|
A-Htrust |
$0.910 |
$0.880 |
3.4% |
NOTES :
- Not Adjusted for Rights or New Issues Which May Be at a Discount
- FE-Trust : Listed on 27 Aug 12 2PM @ $0.88
- HTrust : Listed on 27 Jul 12 2PM @ $0.88
- Dec-11 : End Dec-11 Mkt Price
- Oct-12 : End Oct-12 Mkt Price
- Gain : Capital Gains = (Oct-12 Mkt Price – Dec-11 Mkt Price) / (Dec-11 Mkt Price)
Gearing – Oct 2012
|
REIT |
Assets |
Debts |
Gearing |
Shares |
Major Shareholders |
|
A-HTrust |
S$1050M |
S$339M |
34.3% |
802,987,000 |
Ascendas 35% ; Accor 7% |
|
A-REIT |
S$6643M |
S$2156M |
32.5% |
2,237,552,568 |
Ascendas 19.01% |
|
AIMSAMPIReit |
S$975M |
S$308M |
31.5% |
448,606,000 |
AMP 14.48% ; Dragon Pacific 11.86% ; APG 9.32% ; USS 7.05% ; George Wang 7.17% |
|
AscottREIT |
S$3095M |
S$1222M |
40.6% |
1,137,019,000 |
Temasek 49.02% |
|
Cambridge |
S$1162M |
S$408M |
35.8% |
1,199,049,222 |
Templeton 7.04% ; Chan Wai Kheong 7.01% ; MacKenzie 6.03% ; Capital Grp 5.9153% |
|
CapitaRChina |
S$1564M |
S$479M |
30.4% |
691,309,649 |
Capitaland 41.04% (CMT 20%) ; Capital Grp 8.4997% ; Matthews 7.13% ; PGGM 5.946% |
|
CCT |
S$6823M |
S$2105M |
30.9% |
2,840,796,103 |
Temasek 32.03% ; Capital Group 5.9067% ; CBRE 5.092% |
|
CDL HTrust |
S$2087M |
S$533M |
25.5% |
968,738,653 |
Hong Leong 35.733% ; Aberdeen 5.9869% |
|
CLT |
S$960M |
S$313M |
32.6% |
702,418,479 |
CWT 11.79% ; Capital Grp 5.8666% ; Newton Investment 5.72% |
|
CMT |
S$10242M |
S$4233M |
37.6% |
3,330,733,046 |
CMA 28.50% ; NTUC 5.98% |
|
FE-HTrust |
S$2145M |
S$647M |
30.5% |
1,603,888,000 |
Far East 56% |
|
First REIT |
S$647M |
S$98M |
15.9% |
632,643,409 |
Lippo 29.57% ; CIM 5.9% |
|
Fortune |
HK$19897M |
HK$4834M |
24.6% |
1,697,825,978 |
Cheung Kong 30.95% ; Schroder 9.785% ; Temasek 6.02% |
|
FrasersCT |
S$1917M |
S$577M |
30.1% |
823,522,544 |
F&N 40.7% ; AIA 6.0126% ; Capital Group 6.0395% |
|
FrasersComm |
S$2340M |
S$860M |
36.8% |
646,773,966 |
F&N 27.11% |
|
K-REIT |
S$5945M |
S$2800M |
44.1% |
2,625,416,316 |
Temasek 76.55% |
|
LMIR |
S$1586M |
S$148M |
9.3% |
2,189,325,758 |
Lippo 29.5% ; Stitching 9.95% ; CPI-Capital 8.5% ; ABN AMRO 6.51% ; Sumitomo 5.03% |
|
MCT |
S$2995M |
S$1126M |
37.7% |
1,869,617,000 |
Temasek 42.66% ; AIA 7.63% |
|
MIT |
S$2806M |
S$1049M |
37.2% |
1,629,683,792 |
Temasek 31.63% ; Capital Grp 6.23% ; AIG 5.40% |
|
MLT |
S$4363M |
S$1599M |
37.1% |
2,426,317,966 |
Temasek 40.99% ; Capital Grp 7.14% ; BOA 6.445% ; Mellon Corp 6.36% |
|
PLife |
S$1470M |
S$536M |
36.4% |
604,970,000 |
Parkway Pantai 35.77% ; TPG Capital 14% ; Newton (Bank of New York) 10.2% ; Sunil 6.03% |
|
Sabana |
S$1137M |
S$433M |
38.3% |
640,490,459 |
Kua Family 8.9214% ; Al Salam Bank 5.14% |
|
Saizen |
JPY41,972M |
JPY13,180M |
31.4% |
1,424,383,795 |
V-Nee Yeh (ASM, HCL) 16.994% |
|
Starhill Gbl |
S$2808M |
S$877M |
31.2% |
1,943,023,078 |
YTL 29.09% ; AIA 10.0105% |
|
Suntec |
S$7493M |
S$2841M |
37.8% |
2,247,823,916 |
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
Performance – September 2012
STI +15.64% : 3069.34 (Sep-12) vs 2646.35 (2011)
Rank – Capital Gains
|
REIT |
Sep-12 |
Dec-11 |
Gain |
|
FCOT |
$1.175 |
$0.740 |
58.8% |
|
Fortune Reit HK$ |
$5.910 |
$3.760 |
57.2% |
|
AIMSAMPIReit |
$1.410 |
$0.945 |
49.2% |
|
K-REIT |
$1.185 |
$0.830 |
42.8% |
|
CapitaComm |
$1.495 |
$1.055 |
41.7% |
|
First REIT |
$1.050 |
$0.760 |
38.2% |
|
SuntecReit |
$1.485 |
$1.075 |
38.1% |
|
MCT |
$1.170 |
$0.850 |
37.6% |
|
StarHill |
$0.765 |
$0.565 |
35.4% |
|
Cambridge |
$0.640 |
$0.475 |
34.7% |
|
MapletreeLog |
$1.125 |
$0.845 |
33.1% |
|
Ascendasreit |
$2.410 |
$1.830 |
31.7% |
|
CLT |
$1.250 |
$0.950 |
31.6% |
|
CDL Htrust |
$2.030 |
$1.545 |
31.4% |
|
MIT |
$1.410 |
$1.075 |
31.2% |
|
Sabana REIT |
$1.145 |
$0.875 |
30.9% |
|
LippoMapleT |
$0.455 |
$0.350 |
30.0% |
|
CapitaRChina |
$1.465 |
$1.150 |
27.4% |
|
AscottREIT |
$1.255 |
$0.990 |
26.8% |
|
FrasersCT |
$1.810 |
$1.440 |
25.7% |
|
CapitaMall |
$2.020 |
$1.700 |
18.8% |
|
SaizenREIT |
$0.164 |
$0.140 |
17.1% |
|
FE-Htrust |
$1.035 |
$0.930 |
11.3% |
|
PLife REIT |
$1.985 |
$1.790 |
10.9% |
|
A-Htrust |
$0.910 |
$0.880 |
3.4% |
NOTES :
- Not Adjusted for Rights or New Issues Which May Be at a Discount
- FE-Trust : Listed on 27 Aug 12 2PM @ $0.88
- HTrust : Listed on 27 Jul 12 2PM @ $0.88
- Dec-11 : End Dec-11 Mkt Price
- Sep-12 : End Sep-12 Mkt Price
- Gain : Capital Gains = (Sep-12 Mkt Price – Dec-11 Mkt Price) / (Dec-11 Mkt Price)
September 2012
REITs : Average Yield = 6.257%
|
REIT |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Gearing |
Assets Type |
|
Sabana REIT |
Q2 – Jun12 |
2.270 |
$1.145 |
7.974% |
$1.040 |
34.10% |
Industrial |
|
SaizenREIT |
2H – Jun12 |
0.630 |
$0.164 |
7.683% |
$0.300 |
31.40% |
Residential (Japan) |
|
AscendasHT |
FY13 – IPO |
4.610 |
$0.910 |
7.486% |
$0.814 |
34.30% |
Hotels (Australia, Japan, China) |
|
Cambridge |
Q2 – Jun12 |
1.180 |
$0.640 |
7.416% |
$0.612 |
35.80% |
Industrial |
|
AscottREIT |
1H – Jun12 |
4.517 |
$1.255 |
7.198% |
$1.420 |
39.70% |
Serviced Apts (Regional) |
|
AIMSAMPI Reit |
Q1 – Jun12 |
2.500 |
$1.410 |
7.092% |
$1.400 |
29.70% |
Industrial |
|
LippoMalls |
Q2 – Jun12 |
0.790 |
$0.455 |
6.945% |
$0.560 |
9.30% |
Retail (Indonesia) |
|
First REIT |
Q2 – Jun12 |
1.930 |
$1.050 |
6.733% |
$0.795 |
15.90% |
Hospitals + Hotel (Indonesia) |
|
CapitaRChina |
1H – Jun12 |
4.820 |
$1.465 |
6.614% |
$1.330 |
28.10% |
Retail (China) |
|
K-REIT |
1H – Jun12 |
3.840 |
$1.185 |
6.515% |
$1.230 |
43.90% |
Office |
|
MapletreeInd |
Q1 – Jun12 |
2.260 |
$1.410 |
6.411% |
$1.020 |
37.70% |
Industrial |
|
SuntecReit |
Q2 – Jun12 |
2.361 |
$1.485 |
6.395% |
$1.955 |
37.50% |
Retail + Office |
|
CACHE |
Q2 – Jun12 |
1.981 |
$1.250 |
6.374% |
$0.900 |
27.50% |
Industrial |
|
MapletreeLog |
Q1 – Jun12 |
1.700 |
$1.125 |
6.044% |
$0.880 |
37.00% |
Industrial |
|
Frasers Comm |
Q3 – Jun12 |
1.700 |
$1.175 |
5.821% |
$1.300 |
39.50% |
Office + Retail |
|
Ascendasreit |
Q1 – Jun12 |
3.530 |
$2.410 |
5.809% |
$1.836 |
32.70% |
Industrial |
|
Starhill Gbl |
Q2 – Jun12 |
1.080 |
$0.765 |
5.673% |
$0.940 |
30.50% |
Retail + Office |
|
CDL Htrust |
1H – Jun12 |
5.700 |
$2.030 |
5.645% |
$1.600 |
25.20% |
Hotels : Singapore (82.5%) + Australia (13%) + NZ (4.5%) |
|
FrasersCT |
Q3 – Jun12 |
2.600 |
$1.810 |
5.525% |
$1.410 |
31.70% |
Retail |
|
Far East HTrust |
FY12 – IPO |
2.320 |
$1.035 |
5.383% |
$0.930 |
30.50% |
Hotels + Serviced Apts |
|
Fortune Reit HK$ |
1H – Jun12 |
15.820 |
$5.910 |
5.354% |
$8.340 |
24.50% |
Retail (HK) |
|
CapitaComm |
1H – Jun12 |
3.960 |
$1.495 |
5.324% |
$1.580 |
30.10% |
Office (61%) + Retail (22%) + Hotel (17%) |
|
MapletreeCom |
Q1 – Jun12 |
1.537 |
$1.170 |
5.274% |
$0.952 |
37.60% |
Retail + Office |
|
PLife REIT |
Q2 – Jun12 |
2.480 |
$1.985 |
4.997% |
$1.460 |
36.40% |
Hospitals |
|
CapitaMall |
Q2 – Jun12 |
2.380 |
$2.020 |
4.738% |
$1.620 |
37.50% |
Retail + Office |
NOTES :
- Mkt Price is as on 28-Sep-12
- 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
- PLife : Annualised DPU = 9.92ct
- Cambridge : Annualised DPU = 4.746ct
- 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
- CDL H-Trust : Annualised DPU = 11.46ct
- MCT : Annualised DPU = 6.17ct
- FCOT : Annualised DPU = 6.84ct ; No DPU Payout as Semi-Annual Payout Policy
- CLT : Annualised DPU = 7.968ct
- CRCT : Annualised DPU Payout = 9.69ct
- StarHill Global : Annualised DPU = 4.34ct
- FirstREIT : Annualised DPU = 7.07ct ; DPU Includes 0.34ct on Gain from Divestment of Asset ; Last Q to Include Other Gains for DPU (Annualised DPU = 6.39ct if Exclude Other Gains)
- CCT : Annualised DPU = 7.96ct
- FCT : A total of $2.3 million has been retained in 1H12 (1Q12: $1.6 million + 2Q12: $0.7 million) + 3Q12 : $1.172 million
- Sabana : Annualised DPU = 9.13ct
- Suntec : Annualised DPU = 9.496ct
- CMT : Annualised DPU Payout = 9.57ct
- K-REIT : Annualised DPU Payout = 7.72ct ; Will Change to Quarterly DPU Payout Policy from Q312
- A-REIT : Private Placement (3 May 12) – 150Mil @ $1.99 ; Listing on 14 May 12 2pm
- 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 |
Q2 – Jun12 |
0 |
$0.121 |
0.000% |
$0.490 |
Shipping Trust |
|
Rickmers |
Q2 – Jun12 |
0.6 |
$0.330 |
8.900% |
$0.960 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2237: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 |
Q1 – Jun12 |
0.82 |
$0.435 |
7.540% |
$0.225 |
Infrastructure – Water + Gas + Power |
|
K-Green |
1H12 – Jun |
7.82 |
$1.025 |
7.629% |
$1.040 |
Energy (Incineration) + Water (NEWater) |
|
AscendasIndT |
Q1 – Jun12 |
1.2 |
$0.765 |
6.275% |
$0.590 |
India – Industrial Park |
|
Indiabulls |
Q4 – Mar12 |
— |
$0.113 |
— |
$0.453 |
India – Office |
|
HPH Trust US$ |
FY12 – IPO |
6.59 |
$0.725 |
9.090% |
HK$7.58 |
Ports – HK + China |
|
TCT |
1H – Jun12 |
0.00 |
$1.040 |
0.000% |
$4.490 |
China – Retail + Office + Industrial |
|
PerennialCRT |
1H – Jun12 |
1.9 |
$0.495 |
7.717% |
$0.680 |
China Retail |
NOTES :
- PCRT : Annualised DPU = 3.82ct ; DPU Includes $21.217Mil Additional Income (To Be Drawn from Earn-Out Fund)
- TCT : No DPU Declared since 2H11 ; Last DPU = 5ct on 1H11
- HPH Trust : 1H12 DPU Payout = HK24.05ct ; Above Table Uses IPO Forecast to Compute Yield (Both DPU & Mkt Price in US$)
- a-iTrust : No DPU Payout as Semi-Annual Payout Policy ; DPU based on 90% Payout
- K-Green : 1H12 DPU Payout = 3.13ct ; 2H11 DPU Payout = 4.69ct ; Above Table Uses 2H11 + 1H12 DPU = 7.82ct to Calculate Yield
- CitySpring : Guidance for FY13 DPU = 3.28ct ie 0.82ct / Q
- Indiabulls : No DPU Declared
- 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)