Author: tfwee
Performance – March 2009
STI -3.50% : 1699.99 (Mar-09) vs 1761.56 (2008)
|
REIT |
Mar-09 |
Dec-08 |
Gain |
|---|---|---|---|
|
Fortune |
HK$2.67 |
HK$1.99 |
34.2% |
|
First REIT |
S$0.50 |
S$0.405 |
23.5% |
|
CapitaRChina |
S$0.735 |
S$0.60 |
22.5% |
|
MapleTree |
S$0.375 |
S$0.35 |
7.1% |
|
FrasersCT |
S$0.63 |
S$0.63 |
0.0% |
|
PLife |
S$0.76 |
S$0.76 |
0.0% |
|
CCT |
S$0.88 |
S$0.895 |
-1.7% |
|
Cambridge |
S$0.25 |
S$0.275 |
-9.1% |
|
MI-REIT |
S$0.23 |
S$0.255 |
-9.8% |
|
A-REIT |
S$1.22 |
S$1.37 |
-10.9% |
|
Suntec |
S$0.63 |
S$0.71 |
-11.3% |
|
Saizen |
S$0.115 |
S$0.13 |
-11.5% |
|
StarHill Gbl |
S$0.455 |
S$0.52 |
-12.5% |
|
K-REIT |
S$0.595 |
S$0.54 |
-15.0% |
|
CMT |
S$1.32 |
S$1.59 |
-17.0% |
|
CDL HTrust |
S$0.52 |
S$0.73 |
-28.8% |
|
LMIR |
S$0.22 |
S$0.31 |
-29.0% |
|
AscottREIT |
S$0.41 |
S$0.58 |
-29.3% |
|
FrasersComm |
S$0.14 |
S$0.235 |
-40.4% |
NOTES :
- Not Adjusted for Rights or New Issues Which May Be at a Discount
- Mar-09 : End Mar-09 Mkt Price
- Dec-08 : End Dec-08 Mkt Price
- Gain : Capital Gains = (Mar-09 Mkt Price – Dec-08 Mkt Price) / (Dec-08 Mkt Price)
March 2009
|
REIT |
Period |
DPU ct |
Price |
Yield |
NAV |
Assets Type |
|---|---|---|---|---|---|---|
|
Saizen |
FY08 – IPO |
5.30 |
S$0.115 |
46.087% |
S$1.04 |
Residential (Japan) |
|
MI-REIT |
Q3 : Dec-08 |
2.35 |
S$0.23 |
40.870% |
S$1.27 |
Industrial |
|
FrasersComm |
2H : Dec-08 |
2.36 |
S$0.14 |
33.714% |
S$0.97 |
Malls + Office (S’pore and Aust) |
|
Cambridge |
Q4 : Dec-08 |
1.373 |
S$0.25 |
21.848% |
S$0.74 |
Industrial |
|
AscottREIT |
2H : Dec-08 |
4.28 |
S$0.41 |
20.878% |
S$1.47 |
Serviced Apts (Regional) |
|
CDL HTrust |
2H : Dec-08 |
4.73 |
S$0.52 |
18.192% |
S$1.42 |
Hotels |
|
Suntec |
Q1: Dec-08 |
2.858 |
S$0.63 |
17.998% |
S$1.984 |
Malls + Office |
|
K-REIT |
2H : Dec-08 |
5.07 |
S$0.595 |
17.042% |
S$2.19 |
Office |
|
Starhill Gbl |
Q4 : Dec-08 |
1.85 |
S$0.455 |
16.176% |
S$1.42 |
Malls + Office |
|
MapleTree |
Q4 : Dec-08 |
1.46 |
S$0.375 |
15.573% |
S$0.87 |
Industrial |
|
First REIT |
Q4 : Dec-08 |
1.94 |
S$0.50 |
15.520% |
S$0.9321 |
Hospitals + Hotel (Indonesia) |
|
Fortune |
2H : Dec-08 |
18.51 |
HK$2.67 |
13.865% |
HK$7.58 |
Malls (HK) |
|
A-REIT |
Q3 : Dec-08 |
4.05 |
S$1.22 |
13.279% |
S$1.77 |
Industrial |
|
CCT |
2H : Dec-08 |
5.81 |
S$0.88 |
13.136% |
S$2.92 |
Office |
|
CapitaRChina |
2H : Dec-08 |
4.28 |
S$0.735 |
11.646% |
S$1.21 |
Malls (China) |
|
CMT |
Q4 : Dec-08 |
3.65 |
S$1.32 |
11.000% |
S$2.41 |
Malls + Office |
|
FrasersCT |
Q1 : Dec-08 |
1.67 |
S$0.63 |
10.603% |
S$1.22 |
Malls |
|
PLife |
Q4 : Dec-08 |
1.84 |
S$0.76 |
9.684% |
S$1.32 |
Hospitals |
|
LMIR |
Q4 : Dec-08 |
0.3 |
S$0.22 |
5.409% |
S$0.7113 |
Malls – Indonesia |
NOTES :
- Mkt Price is as on 31-Mar-09
- Saizen : No Payout for 1H09 (Dec-08) ; Yield is Computed Using IPO Prospectus Figures of 5.3% @ $1 Which Excludes Bonus Div
- LMIR : Annualised DPU = 1.19ct
- Cambridge : Annualised DPU = 5.462ct
- CDL HTrust : 90% Payout
- StarHill Gbl : Annualised DPU = 7.36ct
- PLife : Annualised DPU = 7.36ct
- FrasersCT : 90% Payout
- Suntec : Annualised DPU = 11.339ct
- CMT : Annualised DPU = 14.52ct
- FrasersComm : Q$08 DPU 1.26ct (Annualised 5.01ct) ; Above Yield Table Uses 2H08 DPU Payout
- CRCT : Q408 DPU 2.27ct (Annualised 9.03ct) ; Above Yield Table Uses 2H08 DPU Payout
- CCT : Annualised DPU = 11.56ct
- LMIR : IPO Forecast – FY07 (Dec07) : 2.74ct (Annualised for 1-Jul-07 to 31-Dec-07) ; FY08 : 5.84ct ; FY09 : 6.27ct
- Saizen : IPO Forecast – FY09 (Jun09) : 5.65ct ; FY08 (Jun08) : 4.67ct (Incl. Bonus Div) / Annualised Yield 5.3% @ $1 (Excl. Bonus Div) / 6.51% (Incl Bonus Div)
- PLife : IPO Forecast – 2H07 : 3.3ct ; FY08 : 6.25ct ; FY09 : 6.39ct
|
Trust |
Period |
DPU ct |
Price |
Yield |
NAV |
Assets Type |
|---|---|---|---|---|---|---|
|
PacShipTr US$ |
Q4 : Dec-08 |
0.93 |
US$0.155 |
24.000% |
$0.40 |
Shipping Trust |
|
FSL Trust |
Q4 : Dec-08 |
3.08 |
S$0.375 |
49.963% |
$0.75 |
Shipping Trust |
|
Rickmers |
Q4 : Dec-08 |
2.25 |
S$0.345 |
39.673% |
$0.82 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.5208:US$1 fm Yahoo Finance)
- FSL : Annualised DPU 12.32ct
- FSL : SGX Annc (21-Jan-09) Quarterly DPU Forecast – Q109 US2.45ct (75-80% Payout)
|
Trust |
Period |
DPU ct |
Price |
Yield |
NAV |
Assets Type |
|---|---|---|---|---|---|---|
|
CitySpring |
Q3 : Dec-08 |
1.75 |
$0.52 |
13.462% |
$0.11* |
Infrastructure – Water, Gas |
|
AscendasIndT |
Q3 : Dec-08 |
2.02 |
$0.525 |
15.390% |
$0.94 |
India – Industrial Park |
|
HWT |
2H : Dec-08 |
1.91 |
$0.30 |
12.733% |
$0.80 |
China – Water Plant |
|
Indiabulls |
FY09 – IPO |
5.12 |
$0.20 |
25.600% |
$1.1337 |
India – Office |
NOTES :
- HWT : Actual Payout DPU = 2.79ct Due to Sponsor Waiver
- HWT : FY09 DPU Forecast = 5.42ct
- CitySpring : The Group NAV per unit before hedging and translation reserves is S$0.60
- a-iTrust : DPU Not Paid as Semi-Annual Payout Policy
- Indiabulls : Listing on 11-Jun-08 2PM
- Indiabulls : IPO Forecast – 5.12ct (FY09) 1,325.4Mil Units (2,371.7Mil Units Issued) Entitled to Div ; 9.82ct (FY10)
- HWT : IPO Forecast – 2.09ct (1H08) ; 4.88ct (FY08) / SGX Annc – Pg 12 (Distribution Statement)
- HWT : Listing on 3-Dec-07 2PM
- HWT : IPO Forecast – 4.46ct (FY08) – Sponsor (25% s/h) undertaken to waive entitlement to distributions, else DPU 3.34ct (Yield 4.282% @ $0.78) ; 5.06ct (FY09) – Yield 6.744% @ $0.78
Gearing – March 2009
New Data (Major Shareholders) for the Month
- 30 Mar 09 : FCOT – Capital Group from 6.7785% to 4.4500% (27-Mar-09)
- 27 Mar 09 : FCOT – Capital Group from 7.4219% to 6.7785% (25-Mar-09)
- 27 Mar 09 : FCOT – Capital Group from 8.9584% to 7.4219% (24-Mar-09)
- 25 Mar 09 : StarHill Gbl – Morgan Stanley from 10.997% to 9.985% (24-Mar-09)
- 23 Mar 09 : CMT – Capital Group from 6.0963% to 7.2394% (18-Mar-09)
- 17 Mar 09 : CMT – Capital Group from 5.5571% to 6.0963% (12-Mar-09)
- 16 Mar 09 : FCOT – Capital Group from 9.856% to 8.958% (12-Mar-09)
- 16 Mar 09 : MI-REIT – MacCook from 15.38% To 14.89% (11-Mar-09)
- 13 Mar 09 : CMT – Capital Group from 4.6318% to 5.5571% (11-Mar-09)
- 10 Mar 09 : AscottREIT – Temasek from 47.14% to 48.0% (6-Mar-09)
|
REIT |
Assets |
Debts |
Gearing |
Shares |
Major Shareholders |
|---|---|---|---|---|---|
|
A-REIT |
S$4610M |
S$1915M |
42.2% |
1,331,763,013 |
Ascendas 22.71% ; Capital Grp 5.82% ; FMR 5.54% |
|
AscottREIT |
S$1688M |
S$614M |
38.3% |
610,814,472 |
Temasek 48.0% |
|
Cambridge |
S$978M |
S$369M |
37.8% |
796,405,934 |
Yap Chin Kon – 6.341% ; CWT 8.746% ; Capital Grp 5.9153% ; Schroder 6.054% ; Hunter Hall Inv 5.20% |
|
CapitaRChina |
S$1326M |
S$415M |
32.8% |
620,477,985 |
Capitaland 40.04% (CMT 20%) ; Capital Grp 12.9051% ; Stichting 7.75% |
|
CCT |
S$6871M |
S$2587M |
37.6% |
1,397,239,150 |
Temasek 31.97% ; Stitching 10.67% ; Cohen 5.036% |
|
CDL HTrust |
S$1502M |
S$273M |
18.2% |
830,518,509 |
Hong Leong 40.06% |
|
CMT |
S$7509M |
S$3157M |
43.2% |
1,668,568,961 |
Temasek 29.65% ; NTUC 6.84% ; Capital Grp 7.2394% |
|
First REIT |
S$340M |
S$50.8M |
15.6% |
274,138,566 |
Lippo 20.3% ; RZB 9.2% ; CIM 5.9% |
|
Fortune |
HK$8882M |
HK$2349M |
26.4% |
820,818,975 |
Cheung Kong 32.35% ; Stitching 14.9% ; Temasek 6.93% ; Schroder 6.002% |
|
FrasersCT |
S$1129M |
S$322M |
28.5% |
622,911,992 |
F&N 51% ; Stitching 6.04% ; AIA 6.0126% |
|
FrasersComm |
S$1758M |
S$957M |
54.4% |
736,046,964 |
F&N 20.66% ; Farallon 9.86% |
|
K-REIT |
S$2092M |
S$577M |
27.6% |
652,724,165 |
Temasek 75.16% |
|
LMIR |
S$1006M |
S$125M |
12.4% |
1,067,525,766 |
Lippo 27.1% ; MapleTree 12.0% ; Penta Investments 13.07% ; CPI-Capital 8.5% ; ABN AMRO 6.51% ; Sumitomo 5.03% |
|
MacCookIReit |
S$566M |
S$225M |
39.7% |
261,715,845 |
MacCook 14.89% ; UBS 5.76% ; Lion 6.98% ; USS 8.95% |
|
MapleTree |
S$3046M |
S$1159M |
38.5% |
1,939,315,301 |
Temasek 47.45% ; Capital Grp 7.14% ; BOA 7.05% ; Alliance Global Prop 5.01% |
|
PLife |
S$1081M |
S$251M |
23.3% |
602,750,000 |
Newbridge 44.9% (Parkway + TPG Capital) ; Sunil 6.03% |
|
Saizen |
JPY57,992M |
JPY26,634M |
36.5% |
451,986,693 |
Central Top 7.776% ; JHYP 23.511% ; UBS 6.02% ; Cube Capital 6.01% |
|
Starhill Gbl |
S$2163M |
S$671M |
31.0% |
960,680,104 |
YTL 26.03% ; Morgan Stanley 9.985% ; AIA 11.11% |
|
Suntec |
S$5414M |
S$1877M |
34.3% |
1,716,766,520 |
Perennial 6.27% ; 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 uptodate. Pls chk SGX Annc to verify
Performance – February 2009
STI -9.46% : 1594.87 (Feb-09) vs 1761.56 (2008)
|
REIT |
Feb-09 |
Dec-08 |
Gain |
|---|---|---|---|
|
Fortune |
HK$2.27 |
HK$1.99 |
14.1% |
|
CapitaRChina |
S$0.67 |
S$0.60 |
11.7% |
|
MapleTree |
S$0.39 |
S$0.35 |
11.4% |
|
First REIT |
S$0.445 |
S$0.405 |
9.9% |
|
PLife |
S$0.77 |
S$0.76 |
1.3% |
|
FrasersCT |
S$0.61 |
S$0.63 |
-3.2% |
|
A-REIT |
S$1.26 |
S$1.37 |
-8.0% |
|
CMT |
S$1.43 |
S$1.59 |
-10.1% |
|
StarHill Gbl |
S$0.465 |
S$0.52 |
-10.6% |
|
CCT |
S$0.755 |
S$0.895 |
-15.6% |
|
MI-REIT |
S$0.215 |
S$0.255 |
-15.7% |
|
Cambridge |
S$0.23 |
S$0.275 |
-16.4% |
|
Suntec |
S$0.575 |
S$0.71 |
-19.0% |
|
K-REIT |
S$0.625 |
S$0.54 |
-22.9% |
|
Saizen |
S$0.10 |
S$0.13 |
-23.1% |
|
CDL HTrust |
S$0.51 |
S$0.73 |
-30.1% |
|
FrasersComm |
S$0.16 |
S$0.235 |
-31.9% |
|
AscottREIT |
S$0.36 |
S$0.58 |
-37.9% |
|
LMIR |
S$0.185 |
S$0.31 |
-40.3% |
NOTES :
- Not Adjusted for Rights or New Issues Which May Be at a Discount
- Feb-09 : End Feb-09 Mkt Price
- Dec-08 : End Dec-08 Mkt Price
- Gain : Capital Gains = (Feb-09 Mkt Price – Dec-08 Mkt Price) / (Dec-08 Mkt Price)