Author: kktan
Gearing – June 2011
New Data (Major Shareholders) for the Month
- 27 Jun 11 : CMT – Capital Group from 8.9976% to 7.9798% (23-Jun-11)
- 9 Jun 11 : CCT – ING from 4.984% to 5.042% (7-Jun-11)
- 9 Jun 11 : CCT – Cohen and Steers from 7.99% to 8.03% (6-Jun-11)
- 7 Jun 11 : CCT – Cohen and Steers from 8.01% to 7.99% (2-Jun-11)
- 7 Jun 11 : CLT – MS from 5.6776 % To 4.9894 % (3-Jun-11)
|
REIT |
Assets |
Debts |
Gearing |
Shares |
Major Shareholders |
|
A-REIT |
S$5420M |
S$1900M |
35.2% |
1,874,292,935 |
Ascendas 20.66% ; Capital Grp 8.333% |
|
AIMSAMPIReit |
S$875M |
S$279M |
32.0% |
2,207,064,000 |
AMP 16.07% ; Dragon Pacific 11.98% ; APG 9.307% ; George Wang 7.65% ; Stitching 7.31% ; UBS 5.76% ; Lion 6.98% ; USS 8.24% |
|
AscottREIT |
S$2755M |
S$1092M |
41.1% |
1,123,190,000 |
Temasek 48.01% |
|
Cambridge |
S$983M |
S$319M |
33.3% |
1,057,065,216 |
MacKenzie 6.19% ; Capital Grp 5.9153% |
|
CapitaRChina |
S$1249M |
S$415M |
32.6% |
626,669,650 |
Capitaland 40.04% (CMT 20%) ; Capital Grp 8.4997% ; PGGM 5.946% |
|
CCT |
S$6012M |
S$1673M |
27.8% |
2,825,291,611 |
Temasek 31.97% ; Capital Group 8.2333% ; Cohen 8.03% ; ING 5.042% |
|
CDL HTrust |
S$1838M |
S$381M |
20.7% |
959,834,821 |
Hong Leong 35.19% ; BOA 5.05% ; Cohen & Steers 6.053% |
|
CLT |
S$788M |
S$208M |
26.4% |
635,725,371 |
C&P 14.1% ; JF Asset Mgmt 6.5% ; Capital Grp 6.0609% ; JPM 6.02% |
|
CMT |
S$8429M |
S$3146M |
39.9% |
3,184,935,885 |
Temasek 29.65% ; NTUC 5.98% ; Capital Grp 7.9798% |
|
First REIT |
S$632M |
S$81M |
13.8% |
624,765,904 |
Lippo 20.3% ; CIM 5.9% |
|
Fortune |
HK$13739M |
HK$2851M |
20.6% |
1,674,182,145 |
Cheung Kong 32.35% ; Schroder 9.899% ; Temasek 6.02% |
|
FrasersCT |
S$1525M |
S$475M |
31.2% |
770,428,030 |
F&N 51% ; AIA 6.0126% ; Capital Group 7.4585% |
|
FrasersComm |
S$2039M |
S$771M |
37.8% |
627,573,170 |
F&N 24.4% |
|
K-REIT |
S$3112M |
S$1003M |
37.4% |
1,357,377,744 |
Temasek 45.46% ; AIA 7.38% |
|
LMIR |
S$1248M |
S$125M |
10.0% |
1,084,967,455 |
Lippo 29.5% ; Stitching 9.95% ; CPI-Capital 8.5% ; ABN AMRO 6.51% ; Sumitomo 5.03% |
|
MCT |
S$2884M |
S$1124M |
39.0% |
1,863,600,000 |
Temasek 75.16% |
|
MIT |
S$2308M |
S$833M |
36.1% |
1,462,554,000 |
Temasek 31.63% ; Capital Grp 6.23% ; APG 5.10% |
|
MLT |
S$3708M |
S$1452M |
39.4% |
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$1344M |
S$461M |
34.3% |
604,970,000 |
Newbridge 44.9% (Parkway + TPG Capital) ; Newton (Bank of New York) 10.25% ; Sunil 6.03% |
|
Sabana |
S$893M |
S$221M |
24.9% |
634,117,085 |
Kua Family 8.1124% ; Moore 6.38% |
|
Saizen |
JPY42,725M |
JPY13,711M |
36.9% |
1,174,855,611 |
V-Nee Yeh (ASM, HCL) 18.14% |
|
Starhill Gbl |
S$2779M |
S$840M |
30.2% |
1,943,023,078 |
YTL 28.90% ; AIA 9.96% |
|
Suntec |
S$6620M |
S$2565M |
38.4% |
2,213,872,162 |
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
May 2011
Results Announcement
- 3 May 11 (AM) : TCT (Table Updated)
- 3 May 11 : Fortune (Tables Updated)
- 5 May 11 (AM) : PLife (Tables Updated)
- 6 May 11 : IndiaBulls (Table Updated)
- 11 May 11 : Saizen (Tables Updated)
- 25 May 11 : CitySpring (Table Updated)
REITs : Average Yield = 6.872%
|
REIT |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Gearing |
Assets Type |
|
AIMSAMPIReit |
Q4 – Mar11 |
0.54 |
$0.215 |
10.047% |
$0.27 |
32.00% |
Industrial |
|
Sabana REIT |
Q1 – Mar11 |
3.04 |
$0.940 |
9.372% |
$0.98 |
24.90% |
Industrial |
|
Cambridge |
Q1 – Mar11 |
1.126 |
$0.500 |
9.134% |
$0.61 |
33.30% |
Industrial |
|
CACHE |
Q1 – Mar11 |
1.952 |
$0.930 |
8.512% |
$0.88 |
26.40% |
Industrial |
|
LippoMapleT |
Q1 – Mar11 |
1.17 |
$0.565 |
8.283% |
$0.86 |
10.00% |
Retail (Indonesia) |
|
First REIT |
Q1 – Mar11 |
1.58 |
$0.790 |
8.114% |
$0.78 |
13.80% |
Hospitals + Hotel (Indonesia) |
|
AscottREIT |
Q1 – Mar11 |
2.14 |
$1.170 |
7.316% |
$1.26 |
41.10% |
Serviced Apts (Regional) |
|
Fortune Reit HK$ |
Q1 – Mar11 |
6.73 |
$3.750 |
7.179% |
$6.18 |
20.60% |
Retail (HK) |
|
Frasers Comm |
1H – Mar11 |
2.8639 |
$0.820 |
6.985% |
$1.34 |
37.80% |
Retail + Office |
|
SaizenREIT |
1H – Dec10 |
0.52 |
$0.150 |
6.933% |
$0.34 |
36.90% |
Residential (Japan) |
|
CapitaRChina |
Q1 – Mar11 |
2.15 |
$1.260 |
6.921% |
$1.10 |
32.60% |
Retail (China) |
|
Starhill Gbl |
Q1 – Mar11 |
1.07 |
$0.635 |
6.835% |
$0.93 |
30.20% |
Retail + Office |
|
MapletreeLog |
Q1 – Mar11 |
1.55 |
$0.915 |
6.776% |
$0.85 |
39.40% |
Industrial |
|
MapletreeInd |
Q2 – Mar11 |
1.93 |
$1.170 |
6.598% |
$0.95 |
36.10% |
Industrial |
|
SuntecReit |
Q1 – Mar11 |
2.388 |
$1.510 |
6.414% |
$1.77 |
38.40% |
Retail + Office |
|
Ascendasreit |
Q4 – Mar11 |
3.27 |
$2.060 |
6.350% |
$1.72 |
35.20% |
Industrial |
|
MapletreeCom |
FY12 – IPO |
4.97 |
$0.880 |
5.648% |
$0.91 |
39.00% |
Retail + Office |
|
K-REIT |
Q1 – Mar11 |
1.79 |
$1.290 |
5.628% |
$1.47 |
37.40% |
Office |
|
FrasersCT |
Q2 – Mar11 |
2.07 |
$1.490 |
5.557% |
$1.28 |
31.20% |
Retail |
|
PLife REIT |
Q1 – Mar11 |
2.36 |
$1.830 |
5.158% |
$1.39 |
34.30% |
Hospitals |
|
CapitaComm |
Q1 – Mar11 |
1.84 |
$1.470 |
5.007% |
$1.47 |
27.80% |
Office |
|
CapitaMall |
Q1 – Mar11 |
2.29 |
$2.000 |
4.645% |
$1.53 |
39.90% |
Retail + Office |
|
CDL Htrust |
Q1 – Mar11 |
2.38 |
$2.080 |
4.639% |
$1.49 |
20.70% |
Hotels |
NOTES :
- Mkt Price is as on 31-May-11
- Saizen : DPU Not Declared as Semi-Annual Payout Policy
- PLife : Annualised DPU = 9.44ct
- Fortune : DPU Not Paid as Semi-Annual Payout Policy
- Cambridge : Annualised DPU = 4.567ct ; Actual Payout = 1.001ct (Annualized = 4.06ct) as recent 1-for-8 Rights Shares are Entitled to DPU
- Sabana : Annualised DPU = 8.81ct ; Above DPU Payout is for the Period 26-Nov-10 to 31-Dec-10
- MCT : IPO Forecast DPU = 4.97ct (FY12) ; 5.42ct (FY13) ; Listing on 27-Apr-11 2pm
- StarHill Gbl : Annualised DPU = 4.34ct
- CLT : Annualised DPU = 7.916ct
- CDL H-Trust : Annualised DPU = 9.65ct ; DPU Not Paid as Semi-Annual Payout Policy
- Suntec : Annualised DPU = 9.685ct
- FCOT : Q211 (Mar) DPU = 1.61ct
- FCT : Retained $318k Distributable Income for Q211 (Mar)
- AscottREIT : DPU Not Paid as Semi-Annual Payout Policy
- CMT : Annualised DPU = 9.29ct
- FirstREIT : Annualised DPU = 6.41ct
- AIMSAMPReit : Actual DPU Payout = 0.255ct (for the Period 23-Feb-11 to 31-Mar-11) ; DPU = 0.285ct (for the Period 1-Han-11 to 22-Feb-11) Already Paid Out
- CCT : DPU Not Paid as Semi-Annual Payout Policy
- K-REIT : DPU Not Paid as Semi-Annual Payout Policy
- 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 @ $1.33 ; SGX Annc (27-Jan-10) ; Listing on 4-Feb-10 2pm
- FCT : Proposed Acquisitions + New Shares Issue ; Circular (7-Jan-10)
Shipping Trusts (non-REITs)
|
Trust |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Assets Type |
|
PacShipTr US$ |
Q1 – Mar11 |
0.809 |
$0.355 |
9.115% |
$0.42 |
Shipping Trust |
|
FSL Trust |
Q1 – Mar11 |
0.95 |
$0.385 |
12.138% |
$0.57 |
Shipping Trust |
|
Rickmers |
Q1 – Mar11 |
0.6 |
$0.410 |
7.199% |
$0.86 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2298:US$1 fm Yahoo Finance)
- FSL : 49% 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 |
Q4 – Mar11 |
1.05 |
$0.550 |
7.636% |
$0.354 |
Infrastructure – Water + Gas + Power |
|
K-Green |
FY11 – IPO |
7.82 |
$1.080 |
7.981% |
$1.11 |
Energy (Incineration) + Water (NEWater) |
|
AscendasIndT |
2H – Mar11 |
3.22 |
$0.980 |
6.571% |
$0.80 |
India – Industrial Park |
|
Indiabulls |
Q4 – Mar11 |
— |
$0.190 |
— |
$0.52 |
India – Office |
|
HPH Trust US$ |
FY11 – IPO |
5.9 |
$0.940 |
6.277% |
— |
Ports – HK + China |
|
TCT |
Q1 – Mar11 |
2.5 |
$2.050 |
4.878% |
$3.67 |
China – Retail + Office + Industrial |
NOTES :
- CitySpring : Guidance for FY12 DPU = 4.2ct
- CitySpring : The Group NAV per unit before hedging and translation reserves is S$0.429
- Indiabulls : No DPU Declared
- TCT : No DPU Payout as Semi-Annual Dividend Payout Policy
- HPH Trust : IPO DPU Forecast – FY11 = US5.9ct (HK45.88ct) ; FY12 = US6.59ct (HK51.24ct)
- K-Green : DPU = 4.31ct for the Period 29-Jun-10 to 31-Dec-10 ; The Table Above Continues to Use FY11 IPO Forecast DPU to Calculate Yield
- a-iTrust : No DPU Payout as Semi-Annual Payout Policy
- 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)
Performance – May 2011
STI -0.94% : 3159.93 (May-11) vs 3190.04 (2010)
Rank – Capital Gains
|
REIT |
May-11 |
Dec-10 |
Gain |
|
First REIT |
$0.790 |
$0.705 |
12.1% |
|
PLife REIT |
$1.830 |
$1.650 |
10.9% |
|
MIT |
$1.170 |
$1.090 |
7.3% |
|
LippoMapleT |
$0.565 |
$0.530 |
6.6% |
|
CapitaMall |
$2.000 |
$1.950 |
2.6% |
|
CapitaRChina |
$1.260 |
$1.240 |
1.6% |
|
StarHill |
$0.635 |
$0.625 |
1.6% |
|
SuntecReit |
$1.510 |
$1.500 |
0.7% |
|
MCT |
$0.880 |
$0.880 |
0.0% |
|
CDL Htrust |
$2.080 |
$2.080 |
0.0% |
|
Ascendasreit |
$2.060 |
$2.070 |
-0.5% |
|
FCOT |
$0.820 |
$0.825 |
-0.6% |
|
FrasersCT |
$1.490 |
$1.500 |
-0.7% |
|
CapitaComm |
$1.470 |
$1.500 |
-2.0% |
|
AIMSAMPIReit |
$0.215 |
$0.220 |
-2.3% |
|
Sabana REIT |
$0.940 |
$0.975 |
-3.6% |
|
CLT |
$0.930 |
$0.965 |
-3.6% |
|
AscottREIT |
$1.170 |
$1.220 |
-4.1% |
|
MapletreeLog |
$0.915 |
$0.965 |
-5.2% |
|
Cambridge |
$0.500 |
$0.530 |
-5.7% |
|
Fortune Reit HK$ |
$3.750 |
$4.000 |
-6.3% |
|
K-REIT |
$1.290 |
$1.410 |
-8.5% |
|
SaizenREIT |
$0.150 |
$0.165 |
-9.1% |
NOTES :
- Not Adjusted for Rights or New Issues Which May Be at a Discount
- MCT : Listed on 27-Apr-11 @ $0.88
- FCOT : 5-to-1 Share Consolidation
- May-11 : End May-11 Mkt Price
- Dec-10 : End Dec-10 Mkt Price
- Gain : Capital Gains = (May-11 Mkt Price – Dec-10 Mkt Price) / (Dec-10 Mkt Price)
Gearing – May 2011
New Data (Major Shareholders) for the Month
- 24 May 11 : CCT – Cohen and Steers from 7.994% to 8.011% (18-May-11)
- 24 May 11 : CLT – JPM from 5.84% to 6.02% (20-May-11)
- 24 May 11 : CLT – MS from 6.979% to 5.7165% (19-May-11)
- 16 May 11 : CDL H-Trust – Cohen and Steers from 5.993% to 6.053% (11-May-11)
|
REIT |
Assets |
Debts |
Gearing |
Shares |
Major Shareholders |
|
A-REIT |
S$5420M |
S$1900M |
35.2% |
1,874,292,935 |
Ascendas 20.66% ; Capital Grp 8.333% |
|
AIMSAMPIReit |
S$875M |
S$279M |
32.0% |
2,207,064,000 |
AMP 16.07% ; Dragon Pacific 11.98% ; APG 9.307% ; George Wang 7.65% ; Stitching 7.31% ; UBS 5.76% ; Lion 6.98% ; USS 8.24% |
|
AscottREIT |
S$2755M |
S$1092M |
41.1% |
1,123,190,000 |
Temasek 48.01% |
|
Cambridge |
S$983M |
S$319M |
33.3% |
1,057,065,216 |
MacKenzie 6.19% ; Capital Grp 5.9153% |
|
CapitaRChina |
S$1249M |
S$415M |
32.6% |
626,669,650 |
Capitaland 40.04% (CMT 20%) ; Capital Grp 8.4997% ; PGGM 5.946% |
|
CCT |
S$6012M |
S$1673M |
27.8% |
2,825,291,611 |
Temasek 31.97% ; Capital Group 8.2333% ; Cohen 8.011% |
|
CDL HTrust |
S$1838M |
S$381M |
20.7% |
959,834,821 |
Hong Leong 35.19% ; BOA 5.05% ; Cohen & Steers 6.053% |
|
CLT |
S$788M |
S$208M |
26.4% |
635,725,371 |
C&P 14.1% ; JF Asset Mgmt 6.5% ; Capital Grp 6.0609% ; JPM 6.02% ; MS 5.7165% |
|
CMT |
S$8429M |
S$3146M |
39.9% |
3,184,935,885 |
Temasek 29.65% ; NTUC 5.98% ; Capital Grp 9.0075% |
|
First REIT |
S$632M |
S$81M |
13.8% |
624,765,904 |
Lippo 20.3% ; CIM 5.9% |
|
Fortune |
HK$13739M |
HK$2851M |
20.6% |
1,674,182,145 |
Cheung Kong 32.35% ; Schroder 9.899% ; Temasek 6.02% |
|
FrasersCT |
S$1525M |
S$475M |
31.2% |
770,428,030 |
F&N 51% ; AIA 6.0126% ; Capital Group 7.4585% |
|
FrasersComm |
S$2039M |
S$771M |
37.8% |
627,573,170 |
F&N 24.4% |
|
K-REIT |
S$3112M |
S$1003M |
37.4% |
1,357,377,744 |
Temasek 45.46% ; AIA 7.38% |
|
LMIR |
S$1248M |
S$125M |
10.0% |
1,084,967,455 |
Lippo 29.5% ; Stitching 9.95% ; CPI-Capital 8.5% ; ABN AMRO 6.51% ; Sumitomo 5.03% |
|
MCT |
S$2884M |
S$1124M |
39.0% |
1,863,600,000 |
Temasek 75.16% |
|
MIT |
S$2308M |
S$833M |
36.1% |
1,462,554,000 |
Temasek 31.63% ; Capital Grp 6.23% ; APG 5.10% |
|
MLT |
S$3708M |
S$1452M |
39.4% |
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$1344M |
S$461M |
34.3% |
604,970,000 |
Newbridge 44.9% (Parkway + TPG Capital) ; Newton (Bank of New York) 10.25% ; Sunil 6.03% |
|
Sabana |
S$893M |
S$221M |
24.9% |
634,117,085 |
Kua Family 8.1124% ; Moore 6.38% |
|
Saizen |
JPY42,725M |
JPY13,711M |
36.9% |
1,174,855,611 |
V-Nee Yeh (ASM, HCL) 18.14% |
|
Starhill Gbl |
S$2779M |
S$840M |
30.2% |
1,943,023,078 |
YTL 28.90% ; AIA 9.96% |
|
Suntec |
S$6620M |
S$2565M |
38.4% |
2,213,872,162 |
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
April 2011
Results Announcement
- 14 Apr 11 : K-REIT (Tables Updated)
- 15 Apr 11 (AM) : CRCT (Tables Updated)
- 18 Apr 11 : A-REIT (Tables Updated)
- 18 Apr 11 : Rickmers (Table Updated)
- 18 Apr 11 : PST (Table Updated)
- 19 Apr 11 (AM) : CCT (Tables Updated)
- 19 Apr 11 : AIMSAMPReit (Tables Updated)
- 20 Apr 11 : CMT (Tables Updated)
- 20 Apr 11 : ART (Tables Updated)
- 20 Apr 11 : FSL (Table Updated)
- 20 Apr 11 : FirstREIT (Tables Updated)
- 21 Apr 11 (AM) : FCT (Tables Updated)
- 21 Apr 11 : MLT (Tables Updated)
- 21 Apr 11 : FCOT (Tables Updated)
- 21 Apr 11 : Suntec (Tables Updated)
- 26 Apr 11 (AM) : CDL H-Trust (Tables Updated)
- 26 Apr 11 : MIT (Tables Updated)
- 26 Apr 11 : CLT (Tables Updated)
- 26 Apr 11 : StarHill Global (Tables Updated)
- 27 Apr 11 (2PM) : MCT – IPO (Tables Updated)
- 27 Apr 11 : Sabana (Tables Updated)
- 27 Apr 11 : a-iTrust (Table Updated)
- 28 Apr 11 : Cambridge (Tables Updated)
- 28 Apr 11 : LMIR (Tables Updated)
- 3 May 11 (AM) : TCT
- 5 May 11 : PLife
- 12 May 11 (AM) : Saizen
REITs : Average Yield = 6.937%
|
REIT |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Gearing |
Assets Type |
|
AIMSAMPIReit |
Q4 – Mar11 |
0.54 |
$0.205 |
10.537% |
$0.27 |
32.00% |
Industrial |
|
Sabana REIT |
Q1 – Mar11 |
3.04 |
$0.945 |
9.323% |
$0.98 |
24.90% |
Industrial |
|
Cambridge |
Q1 – Mar11 |
1.126 |
$0.500 |
9.134% |
$0.61 |
33.30% |
Industrial |
|
First REIT |
Q1 – Mar11 |
1.58 |
$0.735 |
8.721% |
$0.78 |
13.80% |
Hospitals + Hotel (Indonesia) |
|
LippoMapleT |
Q1 – Mar11 |
1.17 |
$0.560 |
8.357% |
$0.86 |
10.00% |
Malls (Indonesia) |
|
CACHE |
Q1 – Mar11 |
1.952 |
$0.955 |
8.289% |
$0.88 |
26.40% |
Industrial |
|
AscottREIT |
Q1 – Mar11 |
2.14 |
$1.190 |
7.193% |
$1.26 |
41.10% |
Serviced Apts (Regional) |
|
Frasers Comm |
1H – Mar11 |
2.8639 |
$0.800 |
7.160% |
$1.34 |
37.80% |
Malls + Office |
|
MapletreeInd |
Q2 – Mar11 |
1.93 |
$1.080 |
7.148% |
$0.95 |
36.10% |
Industrial |
|
SaizenREIT |
1H – Dec10 |
0.52 |
$0.150 |
6.933% |
$0.36 |
36.90% |
Residential (Japan) |
|
CapitaRChina |
Q1 – Mar11 |
2.15 |
$1.260 |
6.921% |
$1.10 |
32.60% |
Malls (China) |
|
MapletreeLog |
Q1 – Mar11 |
1.55 |
$0.905 |
6.851% |
$0.85 |
39.40% |
Industrial |
|
Starhill Gbl |
Q1 – Mar11 |
1.07 |
$0.635 |
6.835% |
$0.93 |
30.20% |
Malls + Office |
|
Ascendasreit |
Q4 – Mar11 |
3.27 |
$2.030 |
6.443% |
$1.72 |
35.20% |
Industrial |
|
SuntecReit |
Q1 – Mar11 |
2.388 |
$1.520 |
6.372% |
$1.77 |
38.40% |
Malls + Office |
|
Fortune Reit HK$ |
2H – Dec10 |
12.08 |
$3.870 |
6.243% |
$6.18 |
21.00% |
Malls (HK) |
|
MapletreeCom |
FY12 – IPO |
4.97 |
$0.880 |
5.648% |
$0.91 |
39.00% |
Malls + Office |
|
FrasersCT |
Q2 – Mar11 |
2.07 |
$1.480 |
5.595% |
$1.28 |
31.20% |
Malls |
|
K-REIT |
Q1 – Mar11 |
1.79 |
$1.310 |
5.542% |
$1.47 |
37.40% |
Office |
|
PLife REIT |
Q4 – Dec10 |
2.38 |
$1.730 |
5.503% |
$1.39 |
34.60% |
Hospitals |
|
CapitaComm |
Q1 – Mar11 |
1.84 |
$1.440 |
5.111% |
$1.47 |
27.80% |
Office |
|
CapitaMall |
Q1 – Mar11 |
2.29 |
$1.890 |
4.915% |
$1.53 |
39.90% |
Malls + Office |
|
CDL Htrust |
Q1 – Mar11 |
2.38 |
$2.020 |
4.777% |
$1.49 |
20.70% |
Hotels |
NOTES :
- Mkt Price is as on 29-Apr-11
- Cambridge : Annualised DPU = 4.567ct ; Actual Payout = 1.001ct (Annualized = 4.06ct) as recent 1-for-8 Rights Shares are Entitled to DPU
- Sabana : Annualised DPU = 8.81ct ; Above DPU Payout is for the Period 26-Nov-10 to 31-Dec-10
- MCT : IPO Forecast DPU = 4.97ct (FY12) ; 5.42ct (FY13) ; Listing on 27-Apr-11 2pm
- StarHill Gbl : Annualised DPU = 4.34ct
- CLT : Annualised DPU = 7.916ct
- CDL H-Trust : Annualised DPU = 9.65ct ; DPU Not Paid as Semi-Annual Payout Policy
- Suntec : Annualised DPU = 9.685ct
- FCOT : Q211 (Mar) DPU = 1.61ct
- FCT : Retained $318k Distributable Income for Q211 (Mar)
- AscottREIT : DPU Not Paid as Semi-Annual Payout Policy
- CMT : Annualised DPU = 9.29ct
- FirstREIT : Annualised DPU = 6.41ct
- AIMSAMPReit : Actual DPU Payout = 0.255ct (for the Period 23-Feb-11 to 31-Mar-11) ; DPU = 0.285ct (for the Period 1-Han-11 to 22-Feb-11) Already Paid Out
- CCT : DPU Not Paid as Semi-Annual Payout Policy
- K-REIT : DPU Not Paid as Semi-Annual Payout Policy
- 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
- PLife : Annualised DPU = 9.52ct
- Suntec : Actual Payout = 0.593ct for the Period 9-Dec-10 to 31-Dec-10
- KREIT : Q410 DPU = 1.71ct ; Annualised DPU = 6.78ct ; Above Yield Computation Uses 2H10 DPU
- 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 @ $1.33 ; SGX Annc (27-Jan-10) ; Listing on 4-Feb-10 2pm
- FCT : Proposed Acquisitions + New Shares Issue ; Circular (7-Jan-10)
Shipping Trusts (non-REITs)
|
Trust |
Period |
DPU cts |
Mkt |
Yield |
NAV |
Assets Type |
|
PacShipTr US$ |
Q1 – Mar11 |
0.809 |
$0.365 |
8.866% |
$0.42 |
Shipping Trust |
|
FSL Trust |
Q1 – Mar11 |
0.95 |
$0.405 |
11.495% |
$0.57 |
Shipping Trust |
|
Rickmers |
Q1 – Mar11 |
0.6 |
$0.420 |
7.001% |
$0.86 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2251:US$1 fm Yahoo Finance)
- FSL : 49% 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 |
Q3 – Dec10 |
1.05 |
$0.545 |
7.706% |
$0.38 |
Infrastructure – Water, Gas |
|
K-Green |
FY11 – IPO |
7.82 |
$1.040 |
8.288% |
$1.11 |
Energy (Incineration) + Water (NEWater) |
|
AscendasIndT |
2H – Mar11 |
3.22 |
$0.950 |
6.779% |
$0.80 |
India – Industrial Park |
|
Indiabulls |
Q3 – Dec10 |
— |
$0.220 |
— |
$0.50 |
India – Office |
|
HPH Trust US$ |
FY11 – IPO |
5.9 |
$0.920 |
6.413% |
— |
Ports – HK, China |
NOTES :
- HPH Trust : IPO DPU Forecast – FY11 = US5.9ct (HK45.88ct) ; FY12 = US6.59ct (HK51.24ct)
- K-Green : DPU = 4.31ct for the Period 29-Jun-10 to 31-Dec-10 ; The Table Above Continues to Use FY11 IPO Forecast DPU to Calculate Yield
- CitySpring : The Group NAV per unit before hedging and translation reserves is S$0.45
- Indiabulls : No DPU Declared
- a-iTrust : No DPU Payout as Semi-Annual Payout Policy
- K-Green : DPU – FY10 (6mths) = 3.91ct ; FY11 = 7.82ct ; Circular (31-May-10) ; Listing – 29-Jun-10 9am
- CitySpring : Guidance for FY11 DPU = 4.2ct
- 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)