Author: kktan
Performance – October 2011
STI -10.48% : 2855.77 (Oct-11) vs 3190.04 (2010)
Rank – Capital Gains
|
REIT |
Oct-11 |
Dec-10 |
Gain |
|
First REIT |
$0.795 |
$0.705 |
12.8% |
|
PLife REIT |
$1.795 |
$1.650 |
8.8% |
|
MIT |
$1.160 |
$1.090 |
6.4% |
|
CLT |
$0.985 |
$0.965 |
2.1% |
|
Ascendasreit |
$2.050 |
$2.070 |
-1.0% |
|
MCT |
$0.870 |
$0.880 |
-1.1% |
|
FrasersCT |
$1.480 |
$1.500 |
-1.3% |
|
LippoMapleT |
$0.520 |
$0.530 |
-1.9% |
|
CapitaMall |
$1.875 |
$1.950 |
-3.8% |
|
StarHill |
$0.600 |
$0.625 |
-4.0% |
|
FCOT |
$0.790 |
$0.825 |
-4.2% |
|
CapitaRChina |
$1.175 |
$1.240 |
-5.2% |
|
Sabana REIT |
$0.890 |
$0.975 |
-8.7% |
|
Fortune Reit HK$ |
$3.620 |
$4.000 |
-9.5% |
|
AIMSAMPIReit |
$0.990 |
$1.100 |
-10.0% |
|
SaizenREIT |
$0.147 |
$0.165 |
-10.9% |
|
MapletreeLog |
$0.855 |
$0.965 |
-11.4% |
|
Cambridge |
$0.465 |
$0.530 |
-12.3% |
|
AscottREIT |
$1.050 |
$1.220 |
-13.9% |
|
SuntecReit |
$1.240 |
$1.500 |
-17.3% |
|
CDL Htrust |
$1.630 |
$2.080 |
-21.6% |
|
CapitaComm |
$1.130 |
$1.500 |
-24.7% |
|
K-REIT |
$0.985 |
$1.410 |
-30.1% |
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
- Oct-11 : End Oct-11 Mkt Price
- Dec-10 : End Dec-10 Mkt Price
- Gain : Capital Gains = (Oct-11 Mkt Price – Dec-10 Mkt Price) / (Dec-10 Mkt Price)
October 2011
Results Announcement
- 6 Oct 11 : AIMSAMPIReit (Tables Updated)
- 12 Oct 11 : Cambridge (Tables Updated)
- 13 Oct 11 (AM) : CCT (Tables Updated)
- 14 Oct 11 : CRCT (Tables Updated)
- 17 Oct 11 : A-REIT (Tables Updated)
- 17 Oct 11 : K-REIT (Tables Updated)
- 17 Oct 11 : KGT (Table Updated)
- 18 Oct 11 (AM) : CMT (Tables Updated)
- 19 Oct 11 : Sabana (Tables Updated)
- 19 Oct 11 : PST (Table Updated)
- 20 Oct 11 : ART (Tables Updated)
- 20 Oct 11 : FSL (Table Updated)
- 20 Oct 11 : MLT (Tables Updated)
- 21 Oct 11 (AM) : FCT (Tables Updated)
- 21 Oct 11 (AM) : IndiaBulls (Table Updated)
- 21 Oct 11 : FirstREIT (Tables Updated)
- 24 Oct 11 : FCOT (Tables Updated)
- 25 Oct 11 (AM) : CDL H-Trust (Tables Updated)
- 25 Oct 11 : MIT (Tables Updated)
- 25 Oct 11 : Suntec (Tables Updated)
- 27 Oct 11 : MCT (Tables Updated)
- 27 Oct 11 : CLT (Tables Updated)
- 28 Oct 11 (AM) : StarHill Global (Tables Updated)
- 28 Oct 11 : a-iTrust (Table Updated)
- 31 Oct 11 (AM) : TCT (Table Updated)
- 3 Nov 11 (AM) : PLife
- 3 Nov 11 : LMIR
- 3 Nov 11 : CitySpring
- 11 Nov 11 : PCRT
REITs : Average Yield = 7.450%
|
REIT |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Gearing |
Assets Type |
|
AIMSAMPI Reit |
Q2 – Sep11 |
2.5 |
$0.990 |
10.101% |
$1.365 |
30.00% |
Industrial |
|
Sabana REIT |
Q3 – Sep11 |
2.14 |
$0.890 |
9.539% |
$1.050 |
23.80% |
Industrial |
|
Cambridge |
Q3 – Sep11 |
1.082 |
$0.465 |
9.232% |
$0.617 |
33.10% |
Industrial |
|
First REIT |
Q3 – Sep11 |
1.92 |
$0.795 |
8.541% |
$0.779 |
16.40% |
Hospitals + Hotel (Indonesia) |
|
AscottREIT |
Q3 – Sep11 |
2.23 |
$1.050 |
8.495% |
$1.280 |
41.10% |
Serviced Apts (Regional) |
|
CACHE |
Q3 – Sep11 |
2.095 |
$0.985 |
8.439% |
$0.870 |
30.40% |
Industrial |
|
LippoMalls |
Q2 – Jun11 |
1.09 |
$0.520 |
8.385% |
$0.846 |
10.20% |
Retail (Indonesia) |
|
SuntecReit |
Q3 – Sep11 |
2.533 |
$1.240 |
8.104% |
$1.761 |
39.86% |
Retail + Office |
|
MapletreeLog |
Q3 – Sep11 |
1.69 |
$0.855 |
7.906% |
$0.850 |
41.30% |
Industrial |
|
K-REIT |
Q3 – Sep11 |
1.96 |
$0.985 |
7.898% |
$1.440 |
39.80% |
Office |
|
Frasers Comm |
2H – Sep11 |
2.893 |
$0.790 |
7.324% |
$1.340 |
36.60% |
Retail + Office |
|
CapitaRChina |
Q3 – Sep11 |
2.12 |
$1.175 |
7.157% |
$1.110 |
31.40% |
Retail (China) |
|
Fortune Reit HK$ |
1H – Jun11 |
12.8 |
$3.620 |
7.072% |
$7.520 |
18.10% |
Retail (HK) |
|
MapletreeInd |
Q2 – Sep11 |
2.05 |
$1.160 |
7.069% |
$0.950 |
39.20% |
Industrial |
|
SaizenREIT |
2H – Jun11 |
0.5 |
$0.147 |
6.803% |
$0.320 |
24.00% |
Residential (Japan) |
|
CDL Htrust |
Q3 – Sep11 |
2.77 |
$1.630 |
6.742% |
$1.500 |
26.50% |
Hotels |
|
Starhill Gbl |
Q3 – Sep11 |
1 |
$0.600 |
6.617% |
$0.920 |
30.10% |
Retail + Office |
|
Ascendasreit |
Q2 – Sep11 |
3.38 |
$2.050 |
6.595% |
$1.738 |
31.50% |
Industrial |
|
CapitaComm |
Q3 – Sep11 |
1.83 |
$1.130 |
6.478% |
$1.520 |
27.40% |
Office + Retail + Hotel |
|
FrasersCT |
Q4 – Sep11 |
2.35 |
$1.480 |
6.351% |
$1.400 |
31.30% |
Retail |
|
MapletreeCom |
Q2 – Sep11 |
1.333 |
$0.870 |
6.092% |
$0.915 |
38.50% |
Retail + Office |
|
PLife REIT |
Q2 – Jun11 |
2.37 |
$1.795 |
5.281% |
$1.390 |
34.30% |
Hospitals |
|
CapitaMall |
Q3 – Sep11 |
2.42 |
$1.875 |
5.120% |
$1.550 |
38.40% |
Retail + Office |
NOTES :
- Mkt Price is as on 31-Oct-11
- 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
- PLife : Annualised DPU = 9.48ct
- 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 |
$0.305 |
15.568% |
$0.52 |
Shipping Trust |
|
Rickmers |
Q2 – Jun11 |
0.6 |
$0.330 |
9.087% |
$0.87 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2495: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 |
FY11 – Rights (Proforma) |
3.28 |
$0.375 |
8.747% |
$0.328 |
Infrastructure – Water + Gas + Power |
|
K-Green |
FY11 – IPO |
7.82 |
$0.895 |
8.737% |
$1.10 |
Energy (Incineration) + Water (NEWater) |
|
AscendasIndT |
1H – Sep11 |
3.04 |
$0.840 |
7.238% |
$0.74 |
India – Industrial Park |
|
Indiabulls |
Q2 – Sep11 |
— |
$0.175 |
— |
$0.488 |
India – Office |
|
HPH Trust US$ |
FY11 – IPO |
5.9 |
$0.670 |
8.806% |
HK$7.80 |
Ports – HK + China |
|
TCT |
1H – Jun11 |
5 |
$1.710 |
5.848% |
$4.41 |
China – Retail + Office + Industrial |
|
PerennialCRT |
FY11 – IPO |
2.37 |
$0.465 |
7.978% |
$0.67 |
China Retail |
NOTES :
- 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
- CitySpring : Guidance for FY12 DPU = 4.2ct
- 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 – October 2011
|
REIT |
Assets |
Debts |
Gearing |
Shares |
Major Shareholders |
|
A-REIT |
S$5745M |
S$1805M |
31.5% |
2,082,410,675 |
Ascendas 20.66% |
|
AIMSAMPIReit |
S$884M |
S$265M |
30.0% |
443,852,000 |
AMP 14.66% ; Dragon Pacific 11.92% ; APG 9.37% ; USS 8.15% ; George Wang 7.15% ; Stitching 7.31% ; UBS 5.76% ; Lion 6.98% |
|
AscottREIT |
S$2794M |
S$1118M |
41.1% |
1,127,380,000 |
Temasek 48.01% |
|
Cambridge |
S$1108M |
S$367M |
33.1% |
1,189,198,368 |
MacKenzie 6.19% ; Capital Grp 5.9153% |
|
CapitaRChina |
S$1376M |
S$440M |
31.4% |
688,829,911 |
Capitaland 40.04% (CMT 20%) ; Capital Grp 8.4997% ; AIA 6.3986% ; PGGM 5.946% |
|
CCT |
S$6155M |
S$1688M |
27.4% |
2,829,871,567 |
Temasek 31.97% ; Capital Group 5.9569% ; CBRE 5.73% |
|
CDL HTrust |
S$2004M |
S$532M |
26.5% |
963,253,718 |
Hong Leong 35.19% ; BOA 5.05% ; Daiwa 5.45% |
|
CLT |
S$832M |
S$249M |
30.4% |
637,827,371 |
C&P 14.1% ; JF Asset Mgmt 6.5% ; Capital Grp 6.0609% ; JPM 6.02% |
|
CMT |
S$8572M |
S$3222M |
38.4% |
3,188,029,501 |
Temasek 29.65% ; NTUC 5.98% ; Capital Grp 7.9798% |
|
First REIT |
S$648M |
S$48M |
16.4% |
627,680,294 |
Lippo 20.3% ; CIM 5.9% |
|
Fortune |
HK$15688M |
HK$2910M |
18.1% |
1,677,297,276 |
Cheung Kong 32.35% ; Schroder 9.899% ; Temasek 6.02% |
|
FrasersCT |
S$1787M |
S$559M |
31.3% |
822,003,088 |
F&N 51% ; AIA 6.0126% ; Capital Group 7.4585% |
|
FrasersComm |
S$2042M |
S$748M |
36.6% |
634,337,998 |
F&N 24.4% |
|
K-REIT |
S$3254M |
S$1152M |
39.8% |
1,361,615,122 |
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$2931M |
S$1125M |
38.5% |
1,862,275,000 |
Temasek 75.16% |
|
MIT |
S$2716M |
S$1069M |
39.2% |
1,628,170,120 |
Temasek 31.63% ; Capital Grp 6.23% ; APG 5.10% |
|
MLT |
S$3893M |
S$1603M |
41.3% |
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$1345M |
S$462M |
34.3% |
604,970,000 |
Newbridge 44.9% (Parkway + TPG Capital) ; Newton (Bank of New York) 10.25% ; Sunil 6.03% |
|
Sabana |
S$934M |
S$221M |
23.8% |
636,145,601 |
Kua Family 8.1124% ; Moore 6.38% ; Al Salam Bank 5.14% |
|
Saizen |
JPY36,514M |
JPY8,937M |
24.0% |
1,182,249,611 |
V-Nee Yeh (ASM, HCL) 18.14% |
|
Starhill Gbl |
S$2794M |
S$840M |
30.1% |
1,943,023,078 |
YTL 28.90% ; AIA 9.96% |
|
Suntec |
S$7026M |
S$2822M |
39.9% |
2,224,519,933 |
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 – September 2011
STI -16.14% : 2675.16 (Sep-11) vs 3190.04 (2010)
Rank – Capital Gains
|
REIT |
Sep-11 |
Dec-10 |
Gain |
|
PLife REIT |
$1.830 |
$1.650 |
10.9% |
|
First REIT |
$0.760 |
$0.705 |
7.8% |
|
LippoMapleT |
$0.540 |
$0.530 |
1.9% |
|
MIT |
$1.085 |
$1.090 |
-0.5% |
|
CLT |
$0.960 |
$0.965 |
-0.5% |
|
Ascendasreit |
$2.030 |
$2.070 |
-1.9% |
|
FCOT |
$0.800 |
$0.825 |
-3.0% |
|
FrasersCT |
$1.440 |
$1.500 |
-4.0% |
|
CapitaRChina |
$1.165 |
$1.240 |
-6.0% |
|
CapitaMall |
$1.830 |
$1.950 |
-6.2% |
|
StarHill |
$0.580 |
$0.625 |
-7.2% |
|
MCT |
$0.815 |
$0.880 |
-7.4% |
|
AIMSAMPIReit |
$0.995 |
$1.100 |
-9.5% |
|
SaizenREIT |
$0.149 |
$0.165 |
-9.7% |
|
Sabana REIT |
$0.860 |
$0.975 |
-11.8% |
|
MapletreeLog |
$0.850 |
$0.965 |
-11.9% |
|
Cambridge |
$0.460 |
$0.530 |
-13.2% |
|
Fortune Reit HK$ |
$3.390 |
$4.000 |
-15.3% |
|
AscottREIT |
$1.010 |
$1.220 |
-17.2% |
|
SuntecReit |
$1.150 |
$1.500 |
-23.3% |
|
CDL Htrust |
$1.510 |
$2.080 |
-27.4% |
|
K-REIT |
$1.005 |
$1.410 |
-28.7% |
|
CapitaComm |
$1.010 |
$1.500 |
-32.7% |
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
- Sep-11 : End Sep-11 Mkt Price
- Dec-10 : End Dec-10 Mkt Price
- Gain : Capital Gains = (Sep-11 Mkt Price – Dec-10 Mkt Price) / (Dec-10 Mkt Price)
September 2011
REITs : Average Yield = 7.583%
|
REIT |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Gearing |
Assets Type |
|
AIMSAMPI Reit |
Q1 – Jun11 |
2.65 |
$0.995 |
10.653% |
$1.340 |
30.40% |
Industrial |
|
Sabana REIT |
Q2 – Jun11 |
2.18 |
$0.860 |
10.163% |
$0.980 |
25.10% |
Industrial |
|
Cambridge |
Q2 – Jun11 |
1.036 |
$0.460 |
9.033% |
$0.620 |
32.70% |
Industrial |
|
AscottREIT |
1H – Jun11 |
4.466 |
$1.010 |
8.844% |
$1.330 |
40.10% |
Serviced Apts (Regional) |
|
SuntecReit |
Q2 – Jun11 |
2.532 |
$1.150 |
8.831% |
$1.759 |
38.50% |
Retail + Office |
|
CACHE |
Q2 – Jun11 |
2.086 |
$0.960 |
8.716% |
$0.880 |
29.10% |
Industrial |
|
First REIT |
Q2 – Jun11 |
1.58 |
$0.760 |
8.382% |
$0.781 |
13.80% |
Hospitals + Hotel (Indonesia) |
|
LippoMalls |
Q2 – Jun11 |
1.09 |
$0.540 |
8.074% |
$0.846 |
10.20% |
Retail (Indonesia) |
|
Fortune Reit HK$ |
1H – Jun11 |
12.8 |
$3.390 |
7.552% |
$7.520 |
18.10% |
Retail (HK) |
|
MapletreeLog |
Q2 – Jun11 |
1.6 |
$0.850 |
7.529% |
$0.830 |
39.40% |
Industrial |
|
CapitaComm |
1H – Jun11 |
3.77 |
$1.010 |
7.465% |
$1.520 |
26.90% |
Office |
|
K-REIT |
1H – Jun11 |
3.72 |
$1.005 |
7.463% |
$1.470 |
39.20% |
Office |
|
CapitaRChina |
1H – Jun11 |
4.3 |
$1.165 |
7.442% |
$1.140 |
29.70% |
Retail (China) |
|
MapletreeInd |
Q1 – Jun11 |
1.98 |
$1.085 |
7.300% |
$0.950 |
36.00% |
Industrial |
|
Starhill Gbl |
Q2 – Jun11 |
1.04 |
$0.580 |
7.190% |
$0.930 |
30.20% |
Retail + Office |
|
CDL Htrust |
1H – Jun11 |
5.34 |
$1.510 |
7.132% |
$1.530 |
26.30% |
Hotels |
|
Frasers Comm |
Q3 – Jun11 |
1.38 |
$0.800 |
6.925% |
$1.330 |
37.10% |
Retail + Office |
|
SaizenREIT |
2H – Jun11 |
0.5 |
$0.149 |
6.711% |
$0.320 |
24.00% |
Residential (Japan) |
|
MapletreeCom |
Q1 – Jun11 |
0.9564 |
$0.815 |
6.589% |
$0.915 |
38.60% |
Retail + Office |
|
Ascendasreit |
Q1 – Jun11 |
3.2 |
$2.030 |
6.305% |
$1.738 |
28.70% |
Industrial |
|
FrasersCT |
Q3 – Jun11 |
1.95 |
$1.440 |
5.750% |
$1.280 |
31.70% |
Retail |
|
PLife REIT |
Q2 – Jun11 |
2.37 |
$1.830 |
5.180% |
$1.390 |
34.30% |
Hospitals |
|
CapitaMall |
Q2 – Jun11 |
2.36 |
$1.830 |
5.175% |
$1.550 |
38.20% |
Retail + Office |
NOTES :
- Mkt Price is as on 30-Sep-11
- AIMSAMPI Reit : 5-to-1 Stocks Consolidation on 29-Sep-11
- PLife : Annualised DPU = 9.48ct
- FCOT : Annualised DPU = 5.54ct ; No DPU Payout as Semi-Annual Payout Policy
- Sabana : Annualised DPU = 8.74ct
- CLT : Annualised DPU = 8.367ct
- MCT : Annualised DPU = 5.37ct ; Actual DPU for the Period 27-Apr-11 to 30-Jun-11
- CDL H-Trust : Annualised DPU = 10.77ct
- AIMSAMPReit : 96.8% Payout
- StarHill Global : Annualised DPU = 4.17ct
- FirstREIT : Annualised DPU = 6.37ct
- Suntec : Annualised DPU = 10.156ct
- Cambridge : Annualised DPU = 4.155ct
- CMT : Annualised DPU = 9.47ct
- A-REIT : Actual DPU Payout = 2.81ct (11-Apr-11 to 30-Jun-11) ; DPU = 0.39ct (1-Apr-11 to 10-Apr-11) Paid on 9-May-11
- K-REIT : Annualised DPU = 7.5ct
- CRCT : Actual DPU Payout = 4.28ct (1-Jan-11 to 29-Jun-11)
- MCT : IPO Forecast DPU = 4.97ct (FY12) ; 5.42ct (FY13) ; Listing on 27-Apr-11 2pm
- FCT : Retained $318k Distributable Income for Q211 (Mar)
- 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 @ $1.33 ; SGX Annc (27-Jan-10) ; Listing on 4-Feb-10 2pm
- FCT : Proposed Acquisitions + New Shares Issue ; Circular (7-Jan-10)
Shipping Trusts (non-REITs)
|
Trust |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Assets Type |
|
PacShipTr US$ |
Q2 – Jun11 |
0.809 |
$0.375 |
8.629% |
$0.42 |
Shipping Trust |
|
FSL Trust |
Q2 – Jun11 |
0.95 |
$0.280 |
17.621% |
$0.53 |
Shipping Trust |
|
Rickmers |
Q2 – Jun11 |
0.6 |
$0.315 |
9.893% |
$0.87 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2984:US$1 fm Yahoo Finance)
- 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 |
FY11 – Rights (Proforma) |
3.28 |
$0.390 |
8.410% |
$0.328 |
Infrastructure – Water + Gas + Power |
|
K-Green |
FY11 – IPO |
7.82 |
$0.895 |
8.737% |
$1.09 |
Energy (Incineration) + Water (NEWater) |
|
AscendasIndT |
Q1 – Jun11 |
1.5 |
$0.770 |
7.792% |
$0.76 |
India – Industrial Park |
|
Indiabulls |
Q4 – Mar11 |
— |
$0.120 |
— |
$0.52 |
India – Office |
|
HPH Trust US$ |
FY11 – IPO |
5.9 |
$0.675 |
8.741% |
HK$7.80 |
Ports – HK + China |
|
TCT |
1H – Jun11 |
5 |
$1.650 |
6.061% |
$4.17 |
China – Retail + Office + Industrial |
|
PerennialCRT |
FY11 – IPO |
2.37 |
$0.455 |
8.154% |
$0.67 |
China Retail |
NOTES :
- HPH Trust : DPU Payout = HK14.3ct (16-Mar-11 to 30-Jun-11) ; Above Table Uses IPO Forecast to Compute Yield
- a-iTrust : No DPU Payout as Semi-Annual Payout Policy
- 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
- CitySpring : Guidance for FY12 DPU = 4.2ct
- Indiabulls : No DPU Declared
- 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)