Author: kktan
Gearing – May
|
REIT |
Assets |
Debts |
Gearing |
Shares |
Major Shareholders |
|
A-REIT |
S$6564M |
S$2407M |
36.6% |
2,085,077,194 |
Ascendas 19.01% |
|
AIMSAMPIReit |
S$939M |
S$282M |
30.0% |
445,538,000 |
AMP 14.34% ; Dragon Pacific 11.92% ; APG 9.37% ; USS 7.42% ; George Wang 6.99% |
|
AscottREIT |
S$2977M |
S$1211M |
41.6% |
1,132,503,000 |
Temasek 48.01% |
|
Cambridge |
S$1160M |
S$407M |
35.9% |
1,189,483,709 |
Templeton 7.04% ; Chan Wai Kheong 7.01% ; MacKenzie 6.03% ; Capital Grp 5.9153% |
|
CapitaRChina |
S$1503M |
S$453M |
30.0% |
690,457,432 |
Capitaland 41.04% (CMT 20%) ; Capital Grp 8.4997% ; AIA 6.174% ; Matthews 6.01% ; PGGM 5.946% |
|
CCT |
S$6735M |
S$2052M |
30.5% |
2,835,761,209 |
Temasek 32.03% ; Capital Group 6.1084% ; CBRE 5.73% |
|
CDL HTrust |
S$2094M |
S$536M |
25.6% |
966,249597 |
Hong Leong 35.733% ; Aberdeen 5.0041% |
|
CLT |
S$914M |
S$249M |
27.7% |
699,888,315 |
CWT 11.79% ; JPM 5.92% ; Capital Grp 5.8666% ; Newton Investment 5.72% |
|
CMT |
S$9704M |
S$3909M |
38.3% |
3,329,222,569 |
CMA 28.50% ; NTUC 5.98% ; Capital Grp 7.9798% |
|
First REIT |
S$655M |
S$98M |
16.0% |
630,266,798 |
Lippo 22.07% ; CIM 5.9% |
|
Fortune |
HK$18881M |
HK$4824M |
25.9% |
1,692,187,125 |
Cheung Kong 31.58% ; Schroder 10.042% ; Temasek 6.02% |
|
FrasersCT |
S$1794M |
S$554M |
30.9% |
822,889,296 |
F&N 40.7% ; AIA 6.0126% ; Capital Group 5.9508% |
|
FrasersComm |
S$2067M |
S$746M |
36.1% |
640,914,228 |
F&N 27.11% |
|
K-REIT |
S$5887M |
S$2523M |
41.8% |
2,552,296,967 |
Temasek 78.05% |
|
LMIR |
S$1608M |
S$148M |
9.2% |
2,186,170,796 |
Lippo 29.5% ; Stitching 9.95% ; CPI-Capital 8.5% ; ABN AMRO 6.51% ; Sumitomo 5.03% |
|
MCT |
S$3000M |
S$1126M |
37.6% |
1,866,033,000 |
Temasek 42.66% ; AIA 7.63% |
|
MIT |
S$2822M |
S$1069M |
37.8% |
1,628,822,170 |
Temasek 31.63% ; Capital Grp 6.23% ; AIG 5.40% |
|
MLT |
S$4273M |
S$1495M |
35.2% |
2,426,317,966 |
Temasek 41.0% ; Capital Grp 7.14% ; BOA 6.445% ; Alliance Global Prop 6.32% ; Mellon Corp 5.07% |
|
PLife |
S$1445M |
S$510M |
35.3% |
604,970,000 |
Parkway Pantai 35.77% ; TPG Capital 14% ; Newton (Bank of New York) 10.2% ; Sunil 6.03% |
|
Sabana |
S$1079M |
S$365M |
33.9% |
638,421,093 |
Kua Family 8.1124% ; Al Salam Bank 5.14% |
|
Saizen |
JPY40,046M |
JPY12,647M |
32.0% |
1,270,493,808 |
V-Nee Yeh (ASM, HCL) 16.994% |
|
Starhill Gbl |
S$2823M |
S$859M |
30.4% |
1,943,023,078 |
YTL 28.90% ; AIA 9.96% |
|
Suntec |
S$7500M |
S$2822M |
37.4% |
2,237,422,709 |
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 – April 2012
STI +12.55% : 2978.57 (Apr-12) vs 2646.35 (2011)
Rank – Capital Gains
|
REIT |
Apr-12 |
Dec-11 |
Gain |
|
AIMSAMPIReit |
$1.210 |
$0.945 |
28.0% |
|
FCOT |
$0.920 |
$0.740 |
24.3% |
|
CDL Htrust |
$1.890 |
$1.545 |
22.3% |
|
CapitaComm |
$1.290 |
$1.055 |
22.3% |
|
SuntecReit |
$1.310 |
$1.075 |
21.9% |
|
K-REIT |
$1.000 |
$0.830 |
20.5% |
|
First REIT |
$0.895 |
$0.760 |
17.8% |
|
LippoMapleT |
$0.410 |
$0.350 |
17.1% |
|
MapletreeLog |
$0.980 |
$0.845 |
16.0% |
|
StarHill |
$0.655 |
$0.565 |
15.9% |
|
Cambridge |
$0.540 |
$0.475 |
13.7% |
|
Ascendasreit |
$2.080 |
$1.830 |
13.7% |
|
AscottREIT |
$1.120 |
$0.990 |
13.1% |
|
CapitaRChina |
$1.295 |
$1.150 |
12.6% |
|
Fortune Reit HK$ |
$4.190 |
$3.760 |
11.4% |
|
FrasersCT |
$1.595 |
$1.440 |
10.8% |
|
Sabana REIT |
$0.960 |
$0.875 |
9.7% |
|
CLT |
$1.035 |
$0.950 |
8.9% |
|
MCT |
$0.910 |
$0.850 |
7.1% |
|
CapitaMall |
$1.800 |
$1.700 |
5.9% |
|
MIT |
$1.130 |
$1.075 |
5.1% |
|
PLife REIT |
$1.850 |
$1.790 |
3.4% |
|
SaizenREIT |
$0.143 |
$0.140 |
2.1% |
NOTES :
- Not Adjusted for Rights or New Issues Which May Be at a Discount
- Dec-11 : End Dec-11 Mkt Price
- Apr-12 : End Apr-12 Mkt Price
- Gain : Capital Gains = (Apr-12 Mkt Price – Dec-11 Mkt Price) / (Dec-11 Mkt Price)
April 2012
Results Announcement
- 16 Apr 12 : K-REIT (Tables Updated)
- 16 Apr 12 : KGT (Table Updated on NAV ; No DPU Payout as Semi-Annual Payout Policy)
- 17 Apr 12 (AM) : CRCT (Tables Updated)
- 17 Apr 12 : A-REIT (Tables Updated)
- 18 Apr 12 (AM) : CMT (Tables Updated)
- 18 Apr 12 : CLT (Tables Updated)
- 18 Apr 12 : CIT (Tables Updated)
- 19 Apr 12 : FCOT (Tables Updated)
- 19 Apr 12 : Sabana (Tables Updated)
- 19 Apr 12 : MLT (Tables Updated)
- 20 Apr 12 (AM) : CCT (Tables Updated)
- 20 Apr 12 (AM) : AIMSAMPReit (Tables Updated)
- 20 Apr 12 : FirstREIT (Tables Updated)
- 23 Apr 12 : FCT (Tables Updated)
- 23 Apr 12 : Rickmers (Table Updated)
- 24 Apr 12 : Suntec (Tables Updated)
- 24 Apr 12 : FSL (Table Updated)
- 24 Apr 12 : MIT (Tables Updated)
- 25 Apr 12 : ART (Tables Updated)
- 26 Apr 12 (AM) : CDL H-Trust (Tables Updated)
- 26 Apr 12 : MCT (Tables Updated)
- 26 Apr 12 : StarHill (Tables Updated)
- 27 Apr 12 : a-iTrust (Table Updated)
- 30 Apr 12 (AM) : LMIR (Tables Updated)
- 30 Apr 12 (AM) : TCT (Table Updated on NAV ; Last DPU on Jun-11)
- 9 May 12 (AM) : MIIF
- 9 May 12 (AM) : PCRT
- 10 May 12 (AM) : Saizen
REITs : Average Yield = 7.239%
|
REIT |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Gearing |
Assets Type |
|
Sabana REIT |
Q1 – Mar12 |
2.26 |
$0.960 |
9.469% |
$1.040 |
33.90% |
Industrial |
|
AIMSAMPI Reit |
Q4 – Mar12 |
2.7 |
$1.210 |
8.926% |
$1.406 |
30.00% |
Industrial |
|
Cambridge |
Q1 – Mar12 |
1.171 |
$0.540 |
8.722% |
$0.619 |
35.90% |
Industrial |
|
First REIT |
Q1 – Mar12 |
1.93 |
$0.895 |
8.670% |
$0.800 |
16.00% |
Hospitals + Hotel (Indonesia) |
|
SaizenREIT |
1H – Dec11 |
0.61 |
$0.143 |
8.531% |
$0.350 |
32.66% |
Residential (Japan) |
|
CACHE |
Q1 – Mar12 |
2.086 |
$1.035 |
8.106% |
$0.910 |
27.70% |
Industrial |
|
MapletreeInd |
Q4 – Mar12 |
2.22 |
$1.130 |
7.858% |
$1.020 |
37.80% |
Industrial |
|
AscottREIT |
Q1 – Mar12 |
2.14 |
$1.120 |
7.643% |
$1.310 |
41.60% |
Serviced Apts (Regional) |
|
K-REIT |
Q1 – Mar12 |
1.9 |
$1.000 |
7.640% |
$1.250 |
41.80% |
Office |
|
SuntecReit |
Q1 – Mar12 |
2.453 |
$1.310 |
7.531% |
$1.962 |
37.40% |
Retail + Office |
|
CapitaRChina |
Q1 – Mar12 |
2.41 |
$1.295 |
7.483% |
$1.240 |
30.00% |
Retail (China) |
|
Frasers Comm |
1H – Mar12 |
3.2423 |
$0.920 |
7.043% |
$1.330 |
36.10% |
Retail + Office |
|
MapletreeLog |
Q5 – Mar12 |
1.7 |
$0.980 |
6.939% |
$0.880 |
35.20% |
Industrial |
|
MapletreeCom |
Q4 – Mar12 |
1.554 |
$0.910 |
6.868% |
$0.954 |
37.60% |
Retail + Office |
|
LippoMalls |
Q1 – Mar12 |
0.69 |
$0.410 |
6.732% |
$0.566 |
9.20% |
Retail (Indonesia) |
|
Ascendasreit |
Q4 – Mar12 |
3.5 |
$2.080 |
6.731% |
$1.843 |
36.60% |
Industrial |
|
Starhill Gbl |
Q1 – Mar12 |
1.07 |
$0.655 |
6.565% |
$0.940 |
30.40% |
Retail + Office |
|
Fortune Reit HK$ |
2H – Dec11 |
13.5 |
$4.190 |
6.444% |
$7.850 |
18.80% |
Retail (HK) |
|
FrasersCT |
Q2 – Mar12 |
2.5 |
$1.595 |
6.270% |
$1.420 |
30.90% |
Retail |
|
CapitaComm |
Q1 – Mar12 |
1.9 |
$1.290 |
5.922% |
$1.560 |
30.50% |
Office (61%) + Retail (22%) + Hotel (17%) |
|
CDL Htrust |
Q1 – Mar12 |
2.78 |
$1.890 |
5.915% |
$1.580 |
25.60% |
Hotels |
|
PLife REIT |
Q4 – Dec11 |
2.47 |
$1.850 |
5.341% |
$1.460 |
34.80% |
Hospitals |
|
CapitaMall |
Q1 – Mar12 |
2.3 |
$1.800 |
5.139% |
$1.570 |
38.30% |
Retail + Office |
NOTES :
- Mkt Price is as on 30-Apr-12
- StarHill Global : Annualised DPU = 4.3ct
- MCT : Annualised DPU = 6.25ct
- CDL H-Trust : Annualised DPU = 11.18ct ; No DPU Payout as Semi-Annual Payout Policy
- Suntec : Annualised DPU = 9.866ct
- FCT :
A total of $2.3 million has been retained in 1H12 (1Q12: $1.6 million + 2Q12: $0.7 million)
- FirstREIT : Annualised DPU = 7.76ct ; DPU Includes 0.34ct on Gain from Divestment of Asset
- CCT : Annualised DPU = 7.64ct ; No DPU Payout as Semi-Annual Payout Policy
- MLT : DPU Includes 0.03ct from Gain on Disposal of Assets ; FY Changed from Dec to Mar
- FCOT : Annualised DPU = 6.48ct
- Sabana : Annualised DPU = 9.09ct
- Cambridge : Annualised DPU = 4.71ct
- CLT : Annualised DPU = 8.39ct ; Advanced DPU = 2.044ct (1-Jan-12 to 29-Mar-12)
- CMT : Annualised DPU Payout = 9.25ct
- CRCT : Annualised DPU Payout = 9.69ct ; No DPU Payout as Semi-Annual Payout Policy
- K-REIT : Annualised DPU Payout = 7.64ct ; No DPU Payout as Semi-Annual Payout Policy ; Will Change to Quarterly DPU Payout Policy from Q312
- PLife : Annualised DPU = 9.88ct
- 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 |
Q1 – Mar12 |
0.1 |
$0.195 |
2.537% |
$0.490 |
Shipping Trust |
|
Rickmers |
Q1 – Mar12 |
0.6 |
$0.320 |
9.276% |
$0.940 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2368:US$1 fm Yahoo Finance)
- PST : Last Day of Trading on 31-Jan-12
- Rickmers : 9% Payout (of Cash flow available for distribution before payment to debt capital providers)
Other Trusts (non-REITs)
|
Trust |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Assets Type |
|
CitySpring |
Q3 – Dec11 |
0.82 |
$0.395 |
8.304% |
$0.279 |
Infrastructure – Water + Gas + Power |
|
K-Green |
FY11 – Dec11 |
7.82 |
$0.985 |
7.939% |
$1.070 |
Energy (Incineration) + Water (NEWater) |
|
AscendasIndT |
2H – Mar12 |
2.96 |
$0.815 |
7.264% |
$0.710 |
India – Industrial Park |
|
Indiabulls |
Q3 – Dec11 |
— |
$0.127 |
— |
$0.451 |
India – Office |
|
HPH Trust US$ |
FY12 – IPO |
6.59 |
$0.755 |
8.728% |
HK$7.70 |
Ports – HK + China |
|
TCT |
1H – Jun11 |
5 |
$1.405 |
7.117% |
$4.140 |
China – Retail + Office + Industrial |
|
PerennialCRT |
FY11 |
2.35 |
$0.515 |
7.204% |
$0.710 |
China Retail |
NOTES :
- PCRT : DPU = 2.35ct (9-Jun-11 to 31-Dec-11) ; Includes $25Mil Additional Income (Drawn from Earn-Out Fund)
- TCT : DPU Declaration Delayed for 2H11 ; Above Yield Figure Uses 1H11 DPU
- HPH Trust : 2H11 DPU Payout = HK23.4ct ; Above Table Uses IPO Forecast to Compute Yield (Both DPU & Mkt Price in US$)
- Indiabulls : No DPU Declared
- a-iTrust : No DPU Payout as Semi-Annual Payout Policy
- K-Green : 2H DPU Payout = 4.69ct ; 1H DPU Payout = 3.13ct ; Above Table Uses FY11 DPU = 7.82ct to Calculate Yield
- CitySpring : Guidance for FY12 DPU = 0.82ct / Quarter (Post 11-for-20 Rights Issue)
- 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)
Gearing – April 2012
|
REIT |
Assets |
Debts |
Gearing |
Shares |
Major Shareholders |
|
A-REIT |
S$6564M |
S$2407M |
36.6% |
2,085,077,194 |
Ascendas 19.01% |
|
AIMSAMPIReit |
S$939M |
S$282M |
30.0% |
445,538,000 |
AMP 14.34% ; Dragon Pacific 11.92% ; APG 9.37% ; USS 7.42% ; George Wang 6.99% |
|
AscottREIT |
S$2977M |
S$1211M |
41.6% |
1,132,503,000 |
Temasek 48.01% |
|
Cambridge |
S$1160M |
S$407M |
35.9% |
1,189,483,709 |
Templeton 7.04% ; Chan Wai Kheong 7.01% ; MacKenzie 6.03% ; Capital Grp 5.9153% |
|
CapitaRChina |
S$1503M |
S$453M |
30.0% |
690,457,432 |
Capitaland 41.04% (CMT 20%) ; Capital Grp 8.4997% ; AIA 6.174% ; Matthews 6.01% ; PGGM 5.946% |
|
CCT |
S$6735M |
S$2052M |
30.5% |
2,835,761,209 |
Temasek 32.03% ; Capital Group 6.1084% ; CBRE 5.73% |
|
CDL HTrust |
S$2094M |
S$536M |
25.6% |
966,249597 |
Hong Leong 35.733% ; Aberdeen 5.0041% |
|
CLT |
S$914M |
S$249M |
27.7% |
699,888,315 |
CWT 11.79% ; JPM 5.92% ; Capital Grp 5.8666% ; Newton Investment 5.72% |
|
CMT |
S$9704M |
S$3909M |
38.3% |
3,329,222,569 |
CMA 28.50% ; NTUC 5.98% ; Capital Grp 7.9798% |
|
First REIT |
S$655M |
S$98M |
16.0% |
630,266,798 |
Lippo 22.07% ; CIM 5.9% |
|
Fortune |
HK$17320M |
HK$3214M |
18.8% |
1,684,017,665 |
Cheung Kong 32.35% ; Schroder 10.042% ; Temasek 6.02% |
|
FrasersCT |
S$1794M |
S$554M |
30.9% |
822,889,296 |
F&N 40.7% ; AIA 6.0126% ; Capital Group 5.9508% |
|
FrasersComm |
S$2067M |
S$746M |
36.1% |
640,914,228 |
F&N 27.11% |
|
K-REIT |
S$5887M |
S$2523M |
41.8% |
2,552,296,967 |
Temasek 78.05% |
|
LMIR |
S$1608M |
S$148M |
9.2% |
2,186,170,796 |
Lippo 29.5% ; Stitching 9.95% ; CPI-Capital 8.5% ; ABN AMRO 6.51% ; Sumitomo 5.03% |
|
MCT |
S$3000M |
S$1126M |
37.6% |
1,866,033,000 |
Temasek 42.66% ; AIA 7.63% |
|
MIT |
S$2822M |
S$1069M |
37.8% |
1,628,822,170 |
Temasek 31.63% ; Capital Grp 6.23% ; AIG 5.40% |
|
MLT |
S$4273M |
S$1495M |
35.2% |
2,426,317,966 |
Temasek 41.0% ; Capital Grp 7.14% ; BOA 6.445% ; Alliance Global Prop 6.32% ; Mellon Corp 5.07% |
|
PLife |
S$1429M |
S$497M |
34.8% |
604,970,000 |
Newbridge 44.9% (Parkway + TPG Capital) ; Newton (Bank of New York) 10.25% ; Sunil 6.03% |
|
Sabana |
S$1079M |
S$365M |
33.9% |
638,421,093 |
Kua Family 8.1124% ; Al Salam Bank 5.14% |
|
Saizen |
JPY40,846M |
JPY13,342M |
33.0% |
1,235,177,081 |
V-Nee Yeh (ASM, HCL) 18.14% |
|
Starhill Gbl |
S$2823M |
S$859M |
30.4% |
1,943,023,078 |
YTL 28.90% ; AIA 9.96% |
|
Suntec |
S$7500M |
S$2822M |
37.4% |
2,237,422,709 |
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 – March 2012
STI +13.76% : 3010.46 (Mar-12) vs 2646.35 (2011)
Rank – Capital Gains
|
REIT |
Mar-12 |
Dec-11 |
Gain |
|
AIMSAMPIReit |
$1.125 |
$0.945 |
19.0% |
|
SuntecReit |
$1.250 |
$1.075 |
16.3% |
|
K-REIT |
$0.965 |
$0.830 |
16.3% |
|
LippoMapleT |
$0.405 |
$0.350 |
15.7% |
|
CapitaComm |
$1.220 |
$1.055 |
15.6% |
|
FCOT |
$0.840 |
$0.740 |
13.5% |
|
StarHill |
$0.640 |
$0.565 |
13.3% |
|
First REIT |
$0.860 |
$0.760 |
13.2% |
|
Cambridge |
$0.535 |
$0.475 |
12.6% |
|
CDL Htrust |
$1.735 |
$1.545 |
12.3% |
|
MapletreeLog |
$0.945 |
$0.845 |
11.8% |
|
Ascendasreit |
$2.020 |
$1.830 |
10.4% |
|
Sabana REIT |
$0.955 |
$0.875 |
9.1% |
|
AscottREIT |
$1.065 |
$0.990 |
7.6% |
|
CapitaRChina |
$1.235 |
$1.150 |
7.4% |
|
CapitaMall |
$1.805 |
$1.700 |
6.2% |
|
FrasersCT |
$1.520 |
$1.440 |
5.6% |
|
CLT |
$1.000 |
$0.950 |
5.3% |
|
MCT |
$0.875 |
$0.850 |
2.9% |
|
Fortune Reit HK$ |
$3.860 |
$3.760 |
2.7% |
|
MIT |
$1.100 |
$1.075 |
2.3% |
|
SaizenREIT |
$0.143 |
$0.140 |
2.1% |
|
PLife REIT |
$1.795 |
$1.790 |
0.3% |
NOTES :
- Not Adjusted for Rights or New Issues Which May Be at a Discount
- Dec-11 : End Dec-11 Mkt Price
- Mar-12 : End Mar-12 Mkt Price
- Gain : Capital Gains = (Mar-12 Mkt Price – Dec-11 Mkt Price) / (Dec-11 Mkt Price)