Author: tfwee
March 2008
|
REIT |
Period |
DPU ct |
Price |
Yield |
NAV |
Assets Type |
|---|---|---|---|---|---|---|
|
Cambridge |
Q4 : Dec-07 |
1.258 |
S$0.615 |
9.954% |
S$0.76 |
Industrial |
|
First REIT |
Q4 : Dec-07 |
1.76 |
S$0.71 |
9.831% |
S$0.924 |
Hospitals + Hotel (Indonesia) |
|
LMIR |
FY08 – IPO |
5.84 |
S$0.595 |
9.815% |
S$0.91 |
Malls – Indonesia |
|
AllCo |
2H : Dec-07 |
3.74 |
S$0.82 |
9.122% |
S$1.45 |
Malls + Office (S’pore and Aust) |
|
MI-REIT |
Q3 : Dec-07 |
1.92 |
S$0.985 |
7.736% |
S$1.30 |
Industrial |
|
MapleTree |
Q4 : Dec-07 |
1.78 |
S$0.995 |
7.156% |
S$0.92 |
Industrial |
|
Saizen |
FY08 – IPO |
5.30 |
S$0.75 |
7.067% |
S$1.05 |
Residential (Japan) |
|
Fortune |
2H : Dec-07 |
17.42 |
HK$5.11 |
6.818% |
HK$9.04 |
Malls (HK) |
|
K-REIT |
2H : Dec-07 |
4.99 |
S$1.53 |
6.523% |
S$3.73 |
Office |
|
AscottREIT |
2H : Dec-07 |
4.10 |
S$1.29 |
6.357% |
S$1.60 |
Serviced Apts (Regional) |
|
Suntec |
Q1: Dec-07 |
2.2786 |
S$1.45 |
6.234% |
S$2.24 |
Malls + Office |
|
A-REIT |
Q3 : Dec-07 |
3.56 |
S$2.38 |
5.983% |
S$1.45 |
Industrial |
|
MMP |
Q4 : Dec-07 |
1.68 |
S$1.23 |
5.423% |
S$1.61 |
Malls + Office |
|
CapitaRChina |
2H : Dec-07 |
3.51 |
S$1.30 |
5.400% |
S$0.98 |
Malls (China) |
|
PLife |
Q4 : Dec-07 |
2.27 |
S$1.19 |
5.311% |
S$1.34 |
Hospitals |
|
CDL HTrust |
Q4 : Dec-07 |
2.76 |
S$2.07 |
5.290% |
S$1.61 |
Hotels |
|
FrasersCT |
Q1 : Dec-07 |
1.61 |
S$1.24 |
5.194% |
S$1.16 |
Malls |
|
CMT |
Q4 : Dec-07 |
2.34 |
S$3.45 |
4.501% |
S$2.21 |
Malls + Office |
|
CCT |
2H : Dec-07 |
4.47 |
S$2.22 |
3.995% |
S$2.80 |
Office |
NOTES :
- Mkt Price is as on 31-Mar-08
- CapitaRChina : Annualised DPU = 7.02ct ; Actual Payout 4.04cts (1-Jul-07 to 4-Feb-08)
- PLife : Annualised DPU = 6.32ct ; Actual Payout 2.27ct for the Period 23-Aug-07 to 31-Dec-07
- MI-REIT : Annualised DPU = 7.62ct
- AllCo : Q407 DPU 2.2ct ; Annualised = 8.77ct ; Annualised Yield = 13.090% @ $0.67 if this DPU is used
- Suntec : Annualised DPU = 9.04ct ; Actual Payout 1.5738ct for the Period 31-Oct-07 to 31-Dec-07 (0.7048ct Already Paid for 1-Oct-07 to 30-Oct-07)
- CDL HTrust : Annualised DPU (Q407) = 10.95ct ; Actual Payout = 4.61ct for Period 19-Jul-07 to 31-Dec-07
- MMP : Annualised DPU = 6.67ct
- Cambridge : Annualised DPU = 6.122ct for Period 18-Oct-07 to 31-Dec-07
- CCT : Annualised DPU = 8.87ct
- First REIT : Annualised DPU = 6.98ct
- CMT : Annualised DPU = 15.53ct for Period 7-Nov-07 to 31-Dec-07
- 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-07 |
1.10 |
$0.41 |
10.732% |
$0.43 |
Shipping Trust |
|
FSL Trust |
Q4 : Dec-07 |
2.42 |
S$1.11 |
12.039% |
$0.92 |
Shipping Trust |
|
Rickmers |
Q4 : Dec-07 |
2.14 |
S$1.02 |
11.585% |
$1.07 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3805:US$1 fm Yahoo Finance)
- Rickmers : Annualised DPU 8.56ct
- FSL : Annualised DPU 9.68ct
- FSL : SGX Annc (9-Nov-07) Quarterly DPU Forecast (Pg 16) – 2.418ct (Q407) ; 2.608ct (FY08) ; 2.608ct (1H09)
|
Trust |
Period |
DPU ct |
Price |
Yield |
NAV |
Assets Type |
|---|---|---|---|---|---|---|
|
CitySpring |
Q3 : Dec-07 |
1.60 |
$0.715 |
8.951% |
$0.81 |
Infrastructure – Water, Gas |
|
AscendasIndT |
Q3 : Dec-07 |
1.50 |
$1.04 |
5.769% |
$1.14 |
India – Industrial Park |
|
HWT |
FY08 : IPO |
4.46 |
$0.565 |
7.894% |
$0.73 |
China – Water Plant |
NOTES :
- a-iTrust : No Div Payout (Semi-Annual Policy)
- 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 2008
New Data for the Month
- 27-Mar-08 : AREIT – Ascendas from 20.19% to 26.77% (27-Mar-08)
- 27-Mar-08 : Fortune – Schroder from 4.877% to 5.014% (24-Mar-08)
- 19-Mar-08 : MI-REIT – MacCook from 12.37% to 13.16% (18-Mar-08)
- 18-Mar-08 : MI-REIT – UBS from 15.44% to 17.84% (17-Mar-08)
- 18-Mar-08 : MI-REIT – MacCook from 11.90% to 12.37% (17-Mar-08)
- 17-Mar-08 : MI-REIT – MacCook from 9.36% to 11.90% (14-Mar-08)
- 17-Mar-08 : Suntec – Morgan Stanley from 5.419% to 4.205% (12-Mar-08)
- 13-Mar-08 : MI-REIT – MacCook from 8.58% to 9.36% (12-Mar-08)
- 12-Mar-08 : Suntec – Morgan Stanley from 4.222% to 5.419% (7-Mar-08)
- 12-Mar-08 : MMP – Morgan Stanley from 11.269% to 10.345% (11-Mar-08)
- 12-Mar-08 : MI-REIT – UBS from 16.23% to 15.99% (11-Mar-08)
- 11-Mar-08 : MMP – Morgan Stanley from 10.143% to 11.269% (7-Mar-08)
- 11-Mar-08 : MI-REIT – MacCook from 7.10% to 8.58% (7-Mar-08)
- 4-Mar-08 : MMP – Morgan Stanley from 11.03% to 10.143% (29-Feb-08)
- 4-Mar-08 : MI-REIT – MacCook from 6.18% to 7.10%
|
REIT |
Assets |
Debts |
Gearing |
Shares |
Major Shareholders |
|---|---|---|---|---|---|
|
A-REIT |
S$3420M |
S$1285M |
38.9% |
1,325,560,491 |
Ascendas 26.77% ; MGM 6.5% ; Capital Grp 5.82% |
|
AllCo |
S$2038M |
S$888M |
43.6% |
705,962,645 |
AllCo 17.28% ; Capital Grp 9.8707% ; Farallon 9.86% |
|
AscottREIT |
S$1689M |
S$529M |
33.3% |
606,227,000 |
Temasek 47.17% |
|
Cambridge |
S$961M |
S$337M |
35.1% |
794,007,861 |
Yap Chin Kon – 6.341% ; CWT 8.746% ; Capital Grp 7.06% ; Schroder 6.043% |
|
CapitaRChina |
S$810M |
S$232M |
29.7% |
476,371,133 |
Capitaland 40.04% (CMT 20%) ; Capital Grp 13.3277% ; Stichting 7.75% |
|
CCT |
S$5279M |
S$1262M |
23.9% |
1,384,692,369 |
Temasek 31.97% ; Stitching 10.67% ; Cohen 5.036% |
|
CDL HTrust |
S$1657M |
S$292M |
18.7% |
824,131,917 |
Hong Leong 39.60% ; Istithmar Hotels 9.7% |
|
CMT |
S$5957M |
S$1893M |
34.7% |
1,662,974,378 |
Temasek 29.65% ; NTUC 6.84% |
|
First REIT |
S$340.9M |
S$50.7M |
15.5% |
272,307,220 |
Lippo 20.3% ; RZB 9.2% |
|
Fortune |
HK$9992M |
HK$2349M |
23.5% |
812,266,047 |
Cheung Kong 32.35% ; Stitching 14.9% ; Temasek 6.93% ; Capital Grp 6.8% ; Cohen 6.524% ; Schroder 5.014% |
|
FrasersCT |
S$1053M |
S$307.5M |
29.2% |
618,502,846 |
F&N 51% ; Stitching 6.04% ; AIA 5.04% |
|
K-REIT |
S$2088M |
S$1132M |
53.9% |
247,183,528 |
Temasek 73.04% |
|
LMIR |
S$1105M |
S$0M |
0% |
1,060,414,000 |
Lippo 27.1% ; MapleTree 12.0% ; CPI-Capital 8.5% ; Penta Investments 8.0% ; ABN AMRO 5.02% |
|
MacCookIReit |
S$473M |
S$126M |
27.6% |
260,753,751 |
UBS 17.84% ; MacCook 13.16% ; Lion 8.54% ; USS 8.45% ; Indus 5.76% |
|
MapleTree |
S$2446M |
S$1296M |
53.4% |
1,108,180,172 |
Temasek 31.96% ; Capital Grp 7.14% ; UBS 6.92% |
|
MMP |
S$2278M |
S$661M |
29.0% |
952,517,317 |
MacQuarie 26.3% ; Morgan Stanley 10.345% ; AIA 10.998% |
|
PLife |
S$858M |
S$34M |
3.96% |
601,691,000 |
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$5719M |
S$1802M |
31.4% |
1,696,715,328 |
UBS 9.87% ; Shaw 5.81% ; Cheng YT 5.81% ; Temasek 5.98% ; Perennial 5.24% |
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
