Author: tfwee

 

Performance – June 2008

STI -15.36% : 2947.54 (Jun-08) vs 3482.30 (2007)

Rank – Capital Gains

REIT

Jun-08

Dec-07

Gain

PLife

S$1.13

S$1.13

0.0%

Cambridge

S$0.67

S$0.71

-5.6%

MP REIT

S$1.03

S$1.10

-6.4%

First REIT

S$0.72

S$0.77

-6.5%

A-REIT

S$2.21

S$2.46

-10.2%

Fortune

HK$4.54

HK$5.21

-12.9%

CMT

S$2.99

S$3.46

-13.6%

AllCo

S$0.76

S$0.895

-15.1%

LMIR

S$0.545

S$0.665

-18.0%

MI-REIT

S$0.90

S$1.10

-18.2%

FrasersCT

S$1.19

S$1.46

-18.5%

Suntec

S$1.36

S$1.71

-20.5%

Saizen

S$0.70

S$0.89

-21.3%

CCT

S$1.91

S$2.44

-21.7%

MapleTree

S$0.85

S$1.09

-22.0%

CDL HTrust

S$1.76

S$2.35

-25.1%

AscottREIT

S$1.07

S$1.45

-26.2%

K-REIT

S$1.39

S$2.13

-34.7%

CapitaRChina

S$1.24

S$2.15

-42.3%

NOTES :

  • Not Adjusted for Rights or New Issues Which May Be at a Discount
  • Jun-08 : End Jun-08 Mkt Price
  • Dec-07 : End Dec-07 Mkt Price
  • Gain : Capital Gains = (Jun-08 Mkt Price – Dec-07 Mkt Price) / (Dec-07 Mkt Price)

June 30, 2008 Performance No Comments »

June 2008

    Average Yield = 7.498%

    REIT

    Period

    DPU ct

    Price

    Yield

    NAV

    Assets Type

    LMIR

    Q1 : Mar-08

    2.20*

    S$0.545

    11.083%

    S$0.958

    		 Malls – Indonesia

    First REIT

    Q1 : Mar-08

    1.85

    S$0.72

    10.417%

    S$0.924

    		 Hospitals + Hotel (Indonesia)

    MI-REIT

    Q4 : Mar-08

    2.22

    S$0.90

    9.922%

    S$1.29

    		 Industrial

    Cambridge

    Q1 : Mar-08

    1.588

    S$0.67

    9.533%

    S$0.76

    		 Industrial

    MapleTree

    Q1 : Mar-08

    1.90

    S$0.85

    8.941%

    S$0.90

    		 Industrial

    AscottREIT

    Q1 : Mar-08

    2.33

    S$1.07

    8.710%

    S$1.57

    		 Serviced Apts (Regional)

    AllCo

    Q1 : Mar-08

    1.60

    S$0.76

    8.447%

    S$1.44

    		 Malls + Office (S’pore and Aust)

    Fortune

    Q1 : Mar-08

    8.79

    HK$4.54

    7.744%

    HK$8.91

    		 Malls (HK)

    Saizen

    FY08 – IPO

    5.30

    S$0.70

    7.571%

    S$1.05

    		 Residential (Japan)

    Suntec

    Q2: Mar-08

    2.5185

    S$1.36

    7.448%

    S$2.23

    		 Malls + Office

    MP REIT

    Q1 : Mar-08

    1.76

    S$1.03

    6.874%

    S$1.59

    		 Malls + Office

    A-REIT

    Q4 : Mar-08

    3.69

    S$2.21

    6.679%

    S$1.80

    		 Industrial

    CDL HTrust

    Q1 : Mar-08

    2.86

    S$1.76

    6.534%

    S$1.58

    		 Hotels

    FrasersCT

    Q2 : Mar-08

    1.75

    S$1.19

    5.882%

    S$1.17

    		 Malls

    PLife

    Q1 : Mar-08

    1.62

    S$1.13

    5.743%

    S$1.34

    		 Hospitals

    CCT

    Q1 : Mar-08

    2.59

    S$1.91

    5.455%

    S$2.79

    		 Office

    K-REIT

    FY08 – Rights

    7.53

    S$1.39

    5.417%

    S$2.29

    		 Office

    CapitaRChina

    Q1 : Mar-08

    1.02*

    S$1.24

    5.371%

    S$1.05

    		 Malls (China)

    CMT

    Q1 : Mar-08

    3.48

    S$2.99

    4.682%

    S$2.21

    		 Malls + Office

    NOTES :

    • Mkt Price is as on 30-Jun-08
    • MI-REIT : Annualised DPU = 8.93ct
    • AllCo : Annualised DPU = 6.42ct ; Div Not Paid Out as Semi-Annual Policy
    • Fortune : Div Not Paid Out as Semi-Annual Policy
    • PLife : Annualised DPU = 6.49ct
    • Suntec : Annualised DPU = 10.129ct
    • CDL HTrust : Annualised DPU = 11.5ct ; Div Not Paid Out as Semi-Annual Policy
    • MP REIT : Annualised DPU = 7.08ct
    • LMIR : Annualised DPU = 6.04ct ; For the Period 8-Aug-07 to 31-Mar-08
    • CCT : Annualised DPU = 10.42ct ; Div Not Paid Out as Semi-Annual Policy
    • Cambridge : Annualised DPU = 6.387ct
    • CRCT : * For the Period 5-Feb-08 to 31-Mar-08 ; Annualised DPU 6.66ct ; Div Not Paid Out as Semi-Annual Policy ; Actual DPU for Q108 = 1.55ct (Annualised 6.22ct)
    • AscottREIT : Div Not Paid Out as Semi-Annual Policy
    • First REIT : Annualised DPU = 7.5ct
    • CMT : Annualised DPU = 14ct
    • KREIT : FY08 DPU Forecast 7.53ct (8-for-5 Rights @ $1.39)
    • CapitaRChina : Annualised DPU = 7.02ct ; Actual Payout 4.04cts (1-Jul-07 to 4-Feb-08)
    • 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

    Shipping Trusts (non-REITs)

    Trust

    Period

    DPU ct

    Price

    Yield

    NAV

    Assets Type

    PacShipTr US$

    Q1 : Mar-08

    0.97

    $0.40

    9.700%

    $0.42

    		 Shipping Trust

    FSL Trust

    Q1 : Mar-08

    2.59

    S$1.22

    11.535%

    $0.88

    		 Shipping Trust

    Rickmers

    Q1 : Mar-08

    2.14

    S$1.13

    10.290%

    $0.96

    		 Shipping Trust

    NOTES :

    • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3584:US$1 fm Yahoo Finance)
    • FSL : Annualised DPU 10.36ct
    • FSL : SGX Annc (12-May-08) Quarterly DPU Forecast – Q208 US2.77ct ; Q308 US3.05ct
    • Rickmers : Annualised DPU 8.56ct
    • Rickmers : SGX Annc (5-May-08) Quarterly DPU Forecast (Pg 7) – US 2.25ct (Q308)

    Other Trusts (non-REITs)

    Trust

    Period

    DPU ct

    Price

    Yield

    NAV

    Assets Type

    CitySpring

    Q4 : Mar-08

    1.60

    $0.76

    8.421%

    $0.81

    		 Infrastructure – Water, Gas

    AscendasIndT

    2H : Mar-08

    3.14

    $0.905

    6.939%

    $1.08

    		 India – Industrial Park

    HWT

    Q1 : Mar-08

    0.87

    $0.675

    5.156%

    $0.74

    		 China – Water Plant

    Indiabulls

    FY09 – IPO

    5.12

    $0.89

    5.753%

    –

    		 India – Office

    NOTES :

    • 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 : Div Not Paid Out as Semi-Annual Policy
    • 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
    June 30, 2008 Yield No Comments »

    Gearing – June 2008

    New Data (Major Shareholders) for the Month

    • 27-Jun-08 : MapleTree – UBS from 4.33% to 5.85% (25-Jun-08)
    • 26-Jun-08 : MP REIT – Morgan Stanley from 11.006% to 12.220% (24-Jun-08)
    • 26-Jun-08 : MapleTree – BOA from 4.97 to 5.34% (19-Jun-08)
    • 18-Jun-08 : MP REIT – Morgan Stanley from 10.239% to 11.237% (13-Jun-08)
    • 13-Jun-08 : AllCo – Capital Group from 9.0400% to 10.1170% (11-Jun-08)
    • 10-Jun-08 : AllCo – Capital Group from 8.3831% to 9.0400% (4-Jun-08)
    • 9-Jun-08 : CMT – Capital Group from 5.2722% to 6.0486% (6-Jun-08)

      REIT

      Assets

      Debts

      Gearing

      Shares

      Major Shareholders

      A-REIT

      S$4205M

      S$1562M

      38.2%

      1,325,560,491

      Ascendas 26.77% ; Capital Grp 5.82%

      AllCo

      S$2046M

      S$917M

      44.8%

      709,598,320

      AllCo 17.28% ; Capital Grp 10.117% ; Farallon 9.86%

      AscottREIT

      S$1675M

      S$527M

      33.0%

      606,796,000

      Temasek 47.17%

      Cambridge

      S$971M

      S$358M

      36.9%

      795,255,329

      Yap Chin Kon – 6.341% ; CWT 8.746% ; Capital Grp 7.06% ; Schroder 6.043%

      CapitaRChina

      S$1148M

      S$348M

      30.9%

      617,517,873

      Capitaland 40.04% (CMT 20%) ; Capital Grp 13.3277% ; Stichting 7.75%

      CCT

      S$5455M

      S$1466M

      26.9%

      1,385,415,169

      Temasek 31.97% ; Stitching 10.67% ; Cohen 5.036%

      CDL HTrust

      S$1657M

      S$304M

      19.5%

      825,074,177

      Hong Leong 39.60% ; Istithmar Hotels 9.7%

      CMT

      S$6028M

      S$1911M

      35.3%

      1,663,931,632

      Temasek 29.65% ; NTUC 6.84% ; Capital Group 6.0486%

      First REIT

      S$342M

      S$50.8M

      15.6%

      272,565,915

      Lippo 20.3% ; RZB 9.2%

      Fortune

      HK$9942M

      HK$2349M

      23.6%

      813,690,240

      Cheung Kong 32.35% ; Stitching 14.9% ; Temasek 6.93% ; Capital Grp 6.8% ; Cohen 5.857% ; Schroder 5.014%

      FrasersCT

      S$1060M

      S$307.5M

      29.0%

      619,319,175

      F&N 51% ; Stitching 6.04% ; AIA 5.04%

      K-REIT

      S$2083M

      S$581M

      27.7%

      651,491,000

      Temasek 75.16%

      LMIR

      S$1314M

      S$125M

      10.2%

      1,061,518,901

      Lippo 27.1% ; MapleTree 12.0% ; CPI-Capital 8.5% ; Penta Investments 8.0% ; ABN AMRO 6.51%

      MacCookIReit

      S$569M

      S$222M

      40.0%

      260,962,730

      MacCook 13.16% ; UBS 11.99% ; Lion 8.54% ; USS 8.45% ; Indus 5.76%

      MapleTree

      S$2499M

      S$1360M

      54.7%

      1,108,180,172

      Temasek 31.96% ; Capital Grp 7.14% ; UBS 5.85% ; BOA 5.34%

      MP REIT

      S$2293M

      S$664M

      29.0%

      953,847,716

      MacQuarie 26.3% ; Morgan Stanley 12.22% ; AIA 11.11%

      PLife

      S$855M

      S$34M

      3.98%

      601,886,000

      Newbridge 44.9% (Parkway + TPG Capital) ; Sunil 6.03% ; Matthews Int’l Capital 5.09%

      Saizen

      S$627M

      S$206M

      30.0%

      450,817,000

      Central Top 11.71% ; JHYP 35.42% ; JHYP II 8.64% ; JPMorgan 8.00% ; Capital Grp 5.2462%

      Suntec

      S$5835M

      S$1877M

      32.2%

      1,700,500,646

      Perennial 6.09% ; Temasek 5.98% ; 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
      June 27, 2008 Gearing No Comments »

      UOBKH – 13 Jun 2008

      Click on the table below for a bigger view,

      Related Post – Summary

      June 13, 2008 Analysts No Comments »

      SREIT IPO/Placement

      S-REITS

      IPO /Placement Price

      IPO

      2nd Placement

      3rd Placement

      4th Placement

      5th Placement

      6th Placement

      7th Placement

      AllcoReit

      1.00

      1.14

      –

      –

      –

      –

      –

      AscendasIndT

      1.18

      –

      –

      –

      –

      –

      –

      Ascendasreit

      0.88

      1.16

      1.40

      1.55

      1.87

      2.13

      2.48

      AscottREIT

      0.68

      1.10

      1.90

      –

      –

      –

      –

      Cambridge

      0.68

      0.70

      –

      –

      –

      –

      –

      CapitaComm

      –

      1.38

      1.67

      1.68

      –

      –

      –

      CapitaMall

      0.96

      1.33

      1.62

      2.33

      2.35

      2.30

      3.63

      CapitaRChina

      1.13

      –

      –

      –

      –

      –

      –

      CDL Htrust

      0.83

      2.52

      –

      –

      –

      –

      –

      First REIT

      0.71

      –

      –

      –

      –

      –

      –

      Fortune Reit HK$

      4.75

      –

      –

      –

      FrasersCT

      1.03

      –

      –

      –

      –

      –

      –

      K-REIT

      0.98

      1.39

      –

      –

      –

      –

      –

      Indiabulls

      1.00

      –

      –

      –

      –

      –

      –

      LMIR

      0.80

      –

      –

      –

      –

      –

      –

      MapletreeLog

      0.68

      0.96

      1.18

      –

      –

      –

      –

      MI-REIT

      1.20

      –

      –

      –

      –

      –

      –

      MMP Reit

      0.98

      –

      –

      –

      –

      –

      –

      Plife

      1.28

      –

      –

      –

      –

      –

      –

      Saizen

      1.00

      –

      –

      –

      –

      –

      –

      Suntec

      1.00

      1.50

      –

      –

      –

      –

      –

      Note:

      1) Corrected at 11 June 2008

      2) Recently updated is highlighted in Blue. Indiabulls IPO on 11 June 2008


      June 11, 2008 IPO/PLACEMENT No Comments »