Author: kktan
January 2012
Results Announcement
- 17 Jan 12 : A-REIT (Tables Updated)
- 17 Jan 12 : KGT (Table Updated)
- 17 Jan 12 : K-REIT (Tables Updated)
- 18 Jan 12 (AM) : CMT (Tables Updated)
- 18 Jan 12 : CLT (Tables Updated)
- 18 Jan 12 : FCT (Tables Updated)
- 19 Jan 12 : MLT (Tables Updated)
- 19 Jan 12 : Suntec (Tables Updated)
- 19 Jan 12 : ART (Tables Updated)
- 19 Jan 12 : FSL (Table Updated)
- 20 Jan 12 (AM) : CCT (Tables Updated)
- 20 Jan 12 (AM) : AIMSAMPReit (Tables Updated)
- 20 Jan 12 : Sabana (Tables Updated)
- 26 Jan 12 : a-iTrust (Table Updated)
- 26 Jan 12 : MIT (Tables Updated)
- 26 Jan 12 : FirstREIT (Tables Updated)
- 27 Jan 12 (AM) : CRCT (Tables Updated)
- 27 Jan 12 : PLife (Tables Updated)
- 27 Jan 12 : IndiaBulls (Table Updated)
- 30 Jan 12 : StarHill Global (Tables Updated)
- 30 Jan 12 : Fortune (Tables Updated)
- 30 Jan 12 : CDL H-Trust (Tables Updated)
- 31 Jan 12 : MCT (Tables Updated)
- 31 Jan 12 : Cambridge (Tables Updated)
- 1 Feb 12 : FCOT
- 9 Feb 12 : CitySpring
- 10 Feb 12 (AM) : Saizen
- 17 Feb 12 (AM) : LMIR
REITs : Average Yield = 7.589%
|
REIT |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Gearing |
Assets Type |
|
AIMSAMPI Reit |
Q3 – Dec11 |
2.6 |
$1.015 |
10.246% |
$1.367 |
30.70% |
Industrial |
|
Sabana REIT |
Q4 – Dec11 |
2.17 |
$0.880 |
9.784% |
$1.050 |
34.10% |
Industrial |
|
First REIT |
Q4 – Dec11 |
1.93 |
$0.780 |
8.987% |
$0.805 |
16.00% |
Hospitals + Hotel (Indonesia) |
|
SuntecReit |
Q4 – Dec11 |
2.479 |
$1.125 |
8.814% |
$1.968 |
37.30% |
Retail + Office |
|
Cambridge |
Q4 – Dec11 |
1.118 |
$0.510 |
8.698% |
$0.620 |
33.10% |
Industrial |
|
LippoMalls |
1H11 – Rights |
1.63 |
$0.380 |
8.579% |
$0.575 |
10.10% |
Retail (Indonesia) |
|
CACHE |
Q4 – Dec11 |
2.102 |
$0.985 |
8.466% |
$0.910 |
29.60% |
Industrial |
|
AscottREIT |
2H – Dec11 |
4.063 |
$0.990 |
8.208% |
$1.360 |
40.80% |
Serviced Apts (Regional) |
|
MapletreeLog |
Q4 – Dec11 |
1.7 |
$0.870 |
7.770% |
$0.840 |
41.40% |
Industrial |
|
MapletreeInd |
Q3 – Dec11 |
2.16 |
$1.120 |
7.714% |
$0.960 |
39.10% |
Industrial |
|
K-REIT |
Proforma – FY10 |
6.72 |
$0.880 |
7.636% |
$1.260 |
41.60% |
Office |
|
Frasers Comm |
2H – Sep11 |
2.893 |
$0.770 |
7.514% |
$1.340 |
36.60% |
Retail + Office |
|
Ascendasreit |
Q3 – Dec11 |
3.48 |
$1.865 |
7.464% |
$1.748 |
34.30% |
Industrial |
|
CapitaRChina |
2H – Dec11 |
4.42 |
$1.230 |
7.187% |
$1.280 |
28.00% |
Retail (China) |
|
SaizenREIT |
2H – Jun11 |
0.5 |
$0.141 |
7.092% |
$0.350 |
24.00% |
Residential (Japan) |
|
CapitaComm |
2H – Dec11 |
3.75 |
$1.075 |
6.977% |
$1.570 |
30.20% |
Office + Retail + Hotel |
|
Fortune Reit HK$ |
2H – Dec11 |
13.5 |
$3.950 |
6.835% |
$7.850 |
18.80% |
Retail (HK) |
|
Starhill Gbl |
Q4 – Dec11 |
1.01 |
$0.605 |
6.628% |
$0.940 |
30.80% |
Retail + Office |
|
MapletreeCom |
Q3 – Dec11 |
1.428 |
$0.865 |
6.566% |
$0.951 |
37.70% |
Retail + Office |
|
CDL Htrust |
2H – Dec11 |
5.71 |
$1.775 |
6.434% |
$1.600 |
25.30% |
Hotels |
|
FrasersCT |
Q1 – Dec11 |
2.2 |
$1.435 |
6.132% |
$1.410 |
30.80% |
Retail |
|
PLife REIT |
Q4 – Dec11 |
2.47 |
$1.775 |
5.566% |
$1.460 |
34.80% |
Hospitals |
|
CapitaMall |
Q4 – Dec11 |
2.3 |
$1.710 |
5.251% |
$1.560 |
38.40% |
Retail + Office |
NOTES :
- Mkt Price is as on 31-Jan-12
- Cambridge : Annualised DPU = 4.436ct
- MCT : Annualised DPU = 5.68ct
- StarHill Global : Annualised DPU = 4.01ct
- PLife : Annualised DPU = 9.88ct
- FirstREIT : Annualised DPU = 7.01ct ; DPU Includes 0.34ct on Gain from Divestment of Asset
- Sabana : Annualised DPU = 8.61ct
- FCT : Actual DPU Payout = 2.20ct (1-Oct-11 to 31-Dec-11) + 0.28ct (23-Sep-11 to 30-Sep-11)
- CLT : Annualised DPU = 8.339ct
- CMT : Q4 DPU = 1.28ct (10 Nov 11 to 31 Dec 11) + Advance Distribution ; Above Yield Figures Based on 1.28ct (Annualised @ 8.98ct)
- K-REIT : Actual DPU Payout = 2.45ct (Q411 DPU = 1.4ct) ; Above Table Uses Rights Proforma Figures as New Assets Acquisition Only Completed on 14-Dec-11
- Saizen : No DPU Payout as Semi-Annual Payout Policy
- LMIR : Q311 DPU = 1.06ct
- FCOT : Q411 DPU = 1.52ct ; Annualised = 6.03ct ; Above Uses 2H11 DPU
- 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
-
AIMSAMPReit : Proposed Rights 7-for-20 @ $0.155 ; SGX Annc (24-Aug-10) ; Proforma Q111 (Mar-10) Impact – DPU 0.52ct ; NAV $0.26 ; Gearing 34.8% ; TERP $0.211
Shipping Trusts (non-REITs)
|
Trust |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Assets Type |
|
PacShipTr US$ |
Q3 – Sep11 |
0.73 |
$0.420 |
7.452% |
$0.430 |
Shipping Trust |
|
FSL Trust |
Q4 – Dec11 |
0.1 |
$0.205 |
2.440% |
$0.530 |
Shipping Trust |
|
Rickmers |
Q3 – Sep11 |
0.6 |
$0.300 |
10.006% |
$0.880 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2507:US$1 fm Yahoo Finance)
- PST : Last Day of Trading on 31-Jan-12
- PST : No Distribution for Q411 (19-Jan-12)
- PST : Annualised DPU = US3.13ct
- PST : Proposed Delisting (4-Oct-11) @ US$0.435
- PST : 70% Payout
- Rickmers : 10% 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 |
Q2 – Sep11 |
0.82 |
$0.370 |
8.865% |
$0.288 |
Infrastructure – Water + Gas + Power |
|
K-Green |
FY11 – Dec11 |
7.82 |
$1.010 |
7.743% |
$1.050 |
Energy (Incineration) + Water (NEWater) |
|
AscendasIndT |
Q3 – Dec11 |
1.5 |
$0.765 |
7.843% |
$0.700 |
India – Industrial Park |
|
Indiabulls |
Q3 – Dec11 |
— |
$0.146 |
— |
$0.451 |
India – Office |
|
HPH Trust US$ |
FY11 – IPO |
5.9 |
$0.750 |
7.867% |
HK$7.80 |
Ports – HK + China |
|
TCT |
1H – Jun11 |
5 |
$1.400 |
7.143% |
$4.410 |
China – Retail + Office + Industrial |
|
PerennialCRT |
FY11 – IPO |
2.37 |
$0.510 |
7.275% |
$0.670 |
China Retail |
NOTES :
- 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)
- TCT : No DPU Payout as Semi-Annual Payout Policy
- HPH Trust : DPU Payout = HK14.3ct (16-Mar-11 to 30-Jun-11) ; Above Table Uses IPO Forecast to Compute Yield
- 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 = 2.37ct ; 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)
- K-Green : DPU – FY10 (6mths) = 3.91ct ; FY11 = 7.82ct ; Circular (31-May-10) ; Listing – 29-Jun-10 9am
- IndiaBulls : Proposed 53-for-100 Rights @ $0.16 (xr 2-Oct-09) ; Circular (10-Sep-09) ; TERP $0.258 (Mkt $0.31) ; NAV $0.54
- CitySpring : Proposed 1-for-1 Rights @ $0.48 (xr 25-Aug-09) ; Circular (21-Aug-09) ; DPU = 1ct (Proforma Q109) ; Yield 6.349% ; TERP $0.63 (Mkt $0.78) ; NAV $0.28
- Indiabulls : IPO Forecast – 5.12ct (FY09) 1,325.4Mil Units (2,371.7Mil Units Issued) Entitled to Div ; 9.82ct (FY10)
Gearing – January 2012
New Data (Major Shareholders) for the Month
- 25 Jan 12 : FCT – The Capital Group from 7.9731% to 6.9741% (19-Jan-12)
- 25 Jan 12 : CCT – The Capital Group from 5.9569% to 6.1084% (19-Jan-12)
- 27 Jan 12 : AIMSAMPReit – USS from 8.145% to 7.965% (26-Jan-12)
|
REIT |
Assets |
Debts |
Gearing |
Shares |
Major Shareholders |
|
A-REIT |
S$6030M |
S$2065M |
34.3% |
2,085,077,194 |
Ascendas 20.66% |
|
AIMSAMPIReit |
S$907M |
S$278M |
30.7% |
443,852,000 |
AMP 14.66% ; Dragon Pacific 11.92% ; APG 9.37% ; USS 7.965% ; George Wang 7.15% ; Stitching 7.31% ; UBS 5.76% ; Lion 6.98% |
|
AscottREIT |
S$3023M |
S$1205M |
40.8% |
1,129,871,000 |
Temasek 48.01% |
|
Cambridge |
S$1107M |
S$357M |
33.1% |
1,189,198,368 |
MacKenzie 6.03% ; Templeton 7.04% ; Capital Grp 5.9153% |
|
CapitaRChina |
S$1536M |
S$432M |
28.0% |
689,632,698 |
Capitaland 40.04% (CMT 20%) ; Capital Grp 8.4997% ; AIA 6.3986% ; PGGM 5.946% |
|
CCT |
S$6754M |
S$2037M |
30.2% |
2,832,787,200 |
Temasek 31.97% ; Capital Group 6.1084% ; CBRE 5.73% |
|
CDL HTrust |
S$2118M |
S$536M |
25.3% |
964,837,846 |
Hong Leong 35.19% ; BOA 5.05% ; Daiwa 5.45% |
|
CLT |
S$855M |
S$249M |
29.6% |
638,867,066 |
CWT 11.92% ; JF Asset Mgmt 6.5% ; Capital Grp 6.0609% ; JPM 6.02% |
|
CMT |
S$9172M |
S$3424M |
38.4% |
3,328,416,755 |
Temasek 29.65% ; NTUC 5.98% ; Capital Grp 7.9798% |
|
First REIT |
S$661M |
S$99M |
16.0% |
629,104,828 |
Lippo 20.3% ; 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$1782M |
S$549M |
30.8% |
822,003,088 |
F&N 51% ; AIA 6.0126% ; Capital Group 6.9741% |
|
FrasersComm |
S$2042M |
S$748M |
36.6% |
634,337,998 |
F&N 24.4% |
|
K-REIT |
S$5857M |
S$2495M |
41.6% |
2,547,574,969 |
Temasek 45.46% ; AIA 7.38% |
|
LMIR |
S$1229M |
S$125M |
10.2% |
1,086,516,497 |
Lippo 29.5% ; Stitching 9.95% ; CPI-Capital 8.5% ; ABN AMRO 6.51% ; Sumitomo 5.03% |
|
MCT |
S$2998M |
S$1125M |
37.7% |
1,864,134,195 |
Temasek 75.16% |
|
MIT |
S$2725M |
S$1069M |
39.1% |
1,628,351,143 |
Temasek 31.63% ; Capital Grp 6.23% ; APG 5.10% |
|
MLT |
S$3917M |
S$1616M |
41.4% |
2,426,317,966 |
Temasek 44.41% ; Capital Grp 7.14% ; BOA 6.84% ; Alliance Global Prop 6.32% ; Mellon Corp 5.02% |
|
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$1082M |
S$360M |
34.1% |
637,295,453 |
Kua Family 8.1124% ; Moore 6.38% ; Al Salam Bank 5.14% |
|
Saizen |
JPY40,044M |
JPY12,855M |
24.0% |
1,229,375,481 |
V-Nee Yeh (ASM, HCL) 18.14% |
|
Starhill Gbl |
S$2839M |
S$874M |
30.8% |
1,943,023,078 |
YTL 28.90% ; AIA 9.96% |
|
Suntec |
S$7517M |
S$2822M |
37.3% |
2,231,446,413 |
Asean Inv 5.4439% ; Shaw 5.81% ; Cheng YT 5.81% |
Notes :
- This table will be updated only as and when new data are available
- The Major Shareholders data may not be up-to-date. Pls chk SGX Annc to verify
Performance – December 2011
STI -17.04% : 2646.35 (Dec-11) vs 3190.04 (2010)
Rank – Capital Gains
|
REIT |
Dec-11 |
Dec-10 |
Gain |
|
PLife REIT |
$1.790 |
$1.650 |
8.5% |
|
First REIT |
$0.760 |
$0.705 |
7.8% |
|
MIT |
$1.075 |
$1.090 |
-1.4% |
|
CLT |
$0.950 |
$0.965 |
-1.6% |
|
MCT |
$0.850 |
$0.880 |
-3.4% |
|
FrasersCT |
$1.440 |
$1.500 |
-4.0% |
|
Fortune Reit HK$ |
$3.760 |
$4.000 |
-6.0% |
|
CapitaRChina |
$1.150 |
$1.240 |
-7.3% |
|
StarHill |
$0.565 |
$0.625 |
-9.6% |
|
Sabana REIT |
$0.875 |
$0.975 |
-10.3% |
|
FCOT |
$0.740 |
$0.825 |
-10.3% |
|
Cambridge |
$0.475 |
$0.530 |
-10.4% |
|
Ascendasreit |
$1.830 |
$2.070 |
-11.6% |
|
MapletreeLog |
$0.845 |
$0.965 |
-12.4% |
|
CapitaMall |
$1.700 |
$1.950 |
-12.8% |
|
AIMSAMPIReit |
$0.945 |
$1.100 |
-14.1% |
|
SaizenREIT |
$0.140 |
$0.165 |
-15.2% |
|
AscottREIT |
$0.990 |
$1.220 |
-18.9% |
|
CDL Htrust |
$1.545 |
$2.080 |
-25.7% |
|
SuntecReit |
$1.075 |
$1.500 |
-28.3% |
|
CapitaComm |
$1.055 |
$1.500 |
-29.7% |
|
LippoMapleT |
$0.350 |
$0.530 |
-34.0% |
|
K-REIT |
$0.830 |
$1.410 |
-41.1% |
NOTES :
- Not Adjusted for Rights or New Issues Which May Be at a Discount
- AIMSAMPIReit : 5-to-1 Share Consolidation
- MCT : Listed on 27-Apr-11 @ $0.88
- FCOT : 5-to-1 Share Consolidation
- Dec-11 : End Dec-11 Mkt Price
- Dec-10 : End Dec-10 Mkt Price
- Gain : Capital Gains = (Dec-11 Mkt Price – Dec-10 Mkt Price) / (Dec-10 Mkt Price)
December 2011
REITs : Average Yield = 7.814%
|
REIT |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Gearing |
Assets Type |
|
AIMSAMPI Reit |
Q2 – Sep11 |
2.5 |
$0.945 |
10.582% |
$1.365 |
30.00% |
Industrial |
|
Sabana REIT |
Q3 – Sep11 |
2.14 |
$0.875 |
9.703% |
$1.050 |
23.80% |
Industrial |
|
SuntecReit |
Q3 – Sep11 |
2.533 |
$1.075 |
9.348% |
$1.761 |
39.86% |
Retail + Office |
|
LippoMalls |
1H11 – Rights |
1.63 |
$0.350 |
9.314% |
$0.575 |
10.10% |
Retail (Indonesia) |
|
Cambridge |
Q3 – Sep11 |
1.082 |
$0.475 |
9.038% |
$0.617 |
33.10% |
Industrial |
|
AscottREIT |
Q3 – Sep11 |
2.23 |
$0.990 |
9.010% |
$1.280 |
41.10% |
Serviced Apts (Regional) |
|
First REIT |
Q3 – Sep11 |
1.92 |
$0.760 |
8.934% |
$0.779 |
16.40% |
Hospitals + Hotel (Indonesia) |
|
CACHE |
Q3 – Sep11 |
2.095 |
$0.950 |
8.749% |
$0.870 |
30.40% |
Industrial |
|
K-REIT |
Proforma – FY10 |
6.72 |
$0.830 |
8.096% |
$1.190 |
41.60% |
Office |
|
MapletreeLog |
Q3 – Sep11 |
1.69 |
$0.845 |
8.000% |
$0.850 |
41.30% |
Industrial |
|
Frasers Comm |
2H – Sep11 |
2.893 |
$0.740 |
7.819% |
$1.340 |
36.60% |
Retail + Office |
|
MapletreeInd |
Q2 – Sep11 |
2.05 |
$1.075 |
7.628% |
$0.950 |
39.20% |
Industrial |
|
Ascendasreit |
Q2 – Sep11 |
3.38 |
$1.830 |
7.388% |
$1.738 |
31.50% |
Industrial |
|
CapitaRChina |
Q3 – Sep11 |
2.12 |
$1.150 |
7.313% |
$1.110 |
31.40% |
Retail (China) |
|
SaizenREIT |
2H – Jun11 |
0.5 |
$0.140 |
7.143% |
$0.350 |
24.00% |
Residential (Japan) |
|
CDL Htrust |
Q3 – Sep11 |
2.77 |
$1.545 |
7.113% |
$1.500 |
26.50% |
Hotels |
|
Starhill Gbl |
Q3 – Sep11 |
1 |
$0.565 |
7.027% |
$0.920 |
30.10% |
Retail + Office |
|
CapitaComm |
Q3 – Sep11 |
1.83 |
$1.055 |
6.938% |
$1.520 |
27.40% |
Office + Retail + Hotel |
|
Fortune Reit HK$ |
1H – Jun11 |
12.8 |
$3.760 |
6.809% |
$7.520 |
18.10% |
Retail (HK) |
|
FrasersCT |
Q4 – Sep11 |
2.35 |
$1.440 |
6.528% |
$1.400 |
31.30% |
Retail |
|
MapletreeCom |
Q2 – Sep11 |
1.333 |
$0.850 |
6.235% |
$0.915 |
38.50% |
Retail + Office |
|
CapitaMall |
Q3 – Sep11 |
2.42 |
$1.700 |
5.647% |
$1.550 |
38.40% |
Retail + Office |
|
PLife REIT |
Q3 – Sep11 |
2.4 |
$1.790 |
5.363% |
$1.380 |
36.60% |
Hospitals |
NOTES :
- Mkt Price is as on 30-Dec-11
- Saizen : No DPU Payout as Semi-Annual Payout Policy
- LMIR : Q311 DPU = 1.06ct
- PLife : Annualised DPU = 9.60ct
- StarHill Global : Annualised DPU = 3.97ct
- MCT : Annualised DPU = 5.3ct
- CLT : Annualised DPU = 8.312ct
- Suntec : Annualised DPU = 10.049ct
- CDL H-Trust : Annualised DPU = 10.99ct ; No DPU Payout as Semi-Annual Payout Policy
- FCOT : Q411 DPU = 1.52ct ; Annualised = 6.03ct ; Above Uses 2H11 DPU
- FirstREIT : Annualised DPU = 6.79ct ; DPU Includes 0.34ct on Gain from Divestment of Asset
- FCT : DPU = 2.07ct (1-Jul-11 to 22-Sep-11) Already Paid + 0.28ct (23-Sep-11 to 30-Sep-11)
- MLT : DPU Includes 0.03ct on Gain from Divestment of Assets
- ART : No DPU Payout as Semi-Annual Payout Policy
- Sabana : Annualised DPU = 8.49ct
- CMT : Annualised DPU = 9.60ct
- K-REIT : Proposed 17-for-20 Rights Issue @ $0.85 (17-Oct-11)
- K-REIT : Annualised DPU = 7.78ct ; No DPU Payout as Semi-Annual Payout Policy
- CRCT : Annualised DPU = 8.41ct ; No DPU Payout as Semi-Annual Payout Policy
- CCT : No DPU Payout as Semi-Annual Payout Policy
- Cambridge : Annualised DPU = 4.293ct
- AIMSAMPReit : 92.6% Payout
- 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
- AIMSAMPReit : Proposed Rights 7-for-20 @ $0.155 ; SGX Annc (24-Aug-10) ; Proforma Q111 (Mar-10) Impact – DPU 0.52ct ; NAV $0.26 ; Gearing 34.8% ; TERP $0.211
- StarHill Gbl : Proposed Acquisitions (Cash RM300M + MTN RM330M + CPU RM405M) ; SGX Annc (16-Apr-10) ; Proforma (FY09) Impact – DPU 4.36ct (4.34ct if CPUs converted) / NAV $0.91 ($0.81 if CPUs converted) / Gearing 29%
- CLT (IPO) : IPO Forecast – 7.65ct (FY10) ; 7.78ct (FY11) ; IPO Close : 8-Apr-10 12pm ; Listing : 12-Apr-10 2pm ; IPO Prospectus
- FCT : Private Placement 137Mil New Units @ $1.33 ; SGX Annc (27-Jan-10) ; Listing on 4-Feb-10 2pm
- FCT : Proposed Acquisitions + New Shares Issue ; Circular (7-Jan-10)
Shipping Trusts (non-REITs)
|
Trust |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Assets Type |
|
PacShipTr US$ |
Q3 – Sep11 |
0.73 |
$0.420 |
7.452% |
$0.43 |
Shipping Trust |
|
FSL Trust |
Q3 – Sep 11 |
0.95 |
$0.285 |
17.309% |
$0.52 |
Shipping Trust |
|
Rickmers |
Q3 – Sep11 |
0.6 |
$0.295 |
10.562% |
$0.880 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2982:US$1 fm Yahoo Finance)
- PST : Annualised DPU = US3.13ct
- PST : Proposed Delisting (4-Oct-11) @ US$0.435
- FSL : 43% Payout
- PST : 70% Payout
- Rickmers : 10% 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 |
Q2 – Sep11 |
0.82 |
$0.335 |
9.791% |
$0.288 |
Infrastructure – Water + Gas + Power |
|
K-Green |
FY11 – IPO |
7.82 |
$0.905 |
8.641% |
$1.10 |
Energy (Incineration) + Water (NEWater) |
|
AscendasIndT |
1H – Sep11 |
3.04 |
$0.690 |
8.812% |
$0.74 |
India – Industrial Park |
|
Indiabulls |
Q2 – Sep11 |
— |
$0.140 |
— |
$0.488 |
India – Office |
|
HPH Trust US$ |
FY11 – IPO |
5.9 |
$0.620 |
9.516% |
HK$7.80 |
Ports – HK + China |
|
TCT |
1H – Jun11 |
5 |
$1.440 |
6.944% |
$4.41 |
China – Retail + Office + Industrial |
|
PerennialCRT |
FY11 – IPO |
2.37 |
$0.475 |
7.811% |
$0.67 |
China Retail |
NOTES :
- CitySpring : Guidance for FY12 DPU = 0.82ct / Quarter (Post 11-for-20 Rights Issue)
- TCT : No DPU Payout as Semi-Annual Payout Policy
- Indiabulls : No DPU Declared
- HPH Trust : DPU Payout = HK14.3ct (16-Mar-11 to 30-Jun-11) ; Above Table Uses IPO Forecast to Compute Yield
- K-Green : Actual DPU Payout = 3.13ct ; Above Table Uses FY11 IPO Forecast DPU to Calculate Yield
- 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 = 2.37ct ; 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)
- K-Green : DPU – FY10 (6mths) = 3.91ct ; FY11 = 7.82ct ; Circular (31-May-10) ; Listing – 29-Jun-10 9am
- IndiaBulls : Proposed 53-for-100 Rights @ $0.16 (xr 2-Oct-09) ; Circular (10-Sep-09) ; TERP $0.258 (Mkt $0.31) ; NAV $0.54
- CitySpring : Proposed 1-for-1 Rights @ $0.48 (xr 25-Aug-09) ; Circular (21-Aug-09) ; DPU = 1ct (Proforma Q109) ; Yield 6.349% ; TERP $0.63 (Mkt $0.78) ; NAV $0.28
- Indiabulls : IPO Forecast – 5.12ct (FY09) 1,325.4Mil Units (2,371.7Mil Units Issued) Entitled to Div ; 9.82ct (FY10)