Author: tfwee
November 2007
Results Announcement Dates
- 16-Nov-07 : CMT – DPU 4.88ct for the Period 1-Jul-07 to 6-Nov-07
- 6-Nov-07 : Fortune (Tables Updated)
Fund Raising
- 19-Nov-07 (2PM) : LMIR – IPO Listing 1,060,414,000 Shares @ $0.80
- 9-Nov-07 (2PM) : Saizen – IPO Listing 450,817,000 Shares @ $1
- 31-Oct-07 (AM) : CMT – Private Placement 97,000,000 New Units @ $3.63 to be listed on 7-Nov-07
|
REIT |
Period |
DPU ct |
Price |
Yield |
NAV |
Assets Type |
|---|---|---|---|---|---|---|
|
First REIT |
Q3 : Sep-07 |
1.72 |
S$0.76 |
8.816% |
S$0.865 |
Hospitals + Hotel (Indonesia) |
|
LMIR |
FY08 – IPO |
5.84 |
S$0.74 |
7.892% |
S$0.91 |
Malls – Indonesia |
|
Cambridge |
FY07 – Placement |
5.357 |
S$0.685 |
7.820% |
S$0.67 |
Industrial |
|
AllCo |
Q3 : Sep-07 |
1.59 |
S$0.865 |
7.272% |
S$1.34 |
Malls + Office (S’pore and Aust) |
|
MI-REIT |
Q2 : Sep-07 |
1.86 |
S$1.13 |
6.531% |
S$1.28 |
Industrial |
|
MapleTree |
Q3 : Sep-07 |
1.72 |
S$1.06 |
6.491% |
S$0.84 |
Industrial |
|
A-REIT |
Q2 : Sep-07 |
3.51 |
S$2.33 |
6.026% |
S$1.45 |
Industrial |
|
MMP |
Q3 : Sep-07 |
1.54 |
S$1.04 |
5.875% |
S$1.26 |
Malls + Office |
|
Fortune |
Q3 : Sep-07 |
7.86 |
HK$5.40 |
5.822% |
HK$8.41 |
Malls (HK) |
|
Saizen |
FY08 – IPO |
5.30 |
S$0.925 |
5.730% |
S$1.05 |
Residential (Japan) |
|
AscottREIT |
Q3 : Sep-07 |
1.99 |
S$1.44 |
5.528% |
S$1.39 |
Serviced Apts (Regional) |
|
Suntec |
Q4: Sep-07 |
2.122 |
S$1.55 |
5.432% |
S$2.18 |
Malls + Office |
|
PLife |
2H07 : IPO |
3.03 |
S$1.13 |
5.371% |
S$1.25 |
Hospitals |
|
FrasersCT |
Q4 : Sep-07 |
1.67 |
S$1.30 |
5.138% |
S$1.16 |
Malls |
|
CDL HTrust |
Q3 : Sep-07 |
2.36 |
S$2.16 |
4.333% |
S$1.29 |
Hotels |
|
CMT |
Q3 : Sep-07 |
3.40 |
S$3.22 |
4.189% |
S$2.08 |
Malls + Office |
|
CCT |
Q3 : Sep-07 |
2.14 |
S$2.25 |
3.773% |
S$2.38 |
Office |
|
K-REIT |
Q3 : Sep-07 |
2.23 |
S$2.47 |
3.583% |
S$2.56 |
Office |
|
CapitaRChina |
Q3 : Sep-07 |
1.71 |
S$2.18 |
3.119% |
S$1.02 |
Malls (China) |
NOTES :
- Mkt Price is as on 30-Nov-07
- LMIR : IPO Forecast – FY07 (Dec07) : 2.74ct (Annualised for 1-Jul-07 to 31-Dec-07) ; FY08 : 5.84ct ; FY09 : 6.27ct
- CMT : Annualised DPU = 13.49ct ; Actual Payout 4.88ct for the Period 1-Jul-07 to 6-Nov-07
- 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)
- Fortune : No Div Payout (Semi-Annual Policy)
- CDL HTrust : Annualised DPU = 9.36ct ; No Div Payout (Semi-Annual Policy)
- MMP : Annualised DPU = 6.11ct
- Cambridge : Q307 – DPU 1.7ct ; Annualised DPU = 6.745ct ; Actual DPU Payout 2.01ct (for the period 1-Jul-07 to 17-Oct-07)
- Suntec : Annualised DPU = 8.419ct
- AllCo : Annualised DPU = 6.29ct ; No Div Payout (Semi-Annual Policy)
- MI-REIT : Annualised DPU = 7.38ct
- AscottREIT : No Div Payout (Semi-Annual Policy)
- CapitaRChina : Annualised DPU = 6.80ct
- CCT : Annualised DPU = 8.49ct ; No Div Payout (Semi-Annual Policy)
- First REIT : Annualised DPU = 6.70ct
- Cambridge : Equity Fund Raising Circular – DPU : FY07 5.357ct (Annualised) ; FY08 5.542ct ; Private Placement 276,973,000 New Units @ $0.70
- K-REIT : Annualised DPU = 8.85ct ; No Div Payout (Semi-Annual Policy)
- PLife : IPO Forecast – 2H07 : 3.3ct ; FY08 : 6.25ct ; FY09 : 6.39ct
|
Trust |
Period |
DPU ct |
Price |
Yield |
NAV |
Assets Type |
|---|---|---|---|---|---|---|
|
PacShipTr US$ |
Q3 : Sep-07 |
1.09 |
$0.42 |
10.381% |
$0.44 |
Shipping Trust |
|
FSL Trust |
Q3 : Sep-07 |
2.23 |
S$1.24 |
10.398% |
$0.94 |
Shipping Trust |
|
Rickmers |
Q3 : Sep-07 |
2.14 |
S$1.35 |
9.166% |
$1.01 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.4455:US$1 fm Yahoo Finance)
- Rickmers : Annualised DPU 8.56ct
- FSL : Annualised DPU 8.92ct
- 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 |
Q2 : Sep-07 |
1.60 |
$0.905 |
7.072% |
$0.80 |
Infrastructure – Water, Gas |
|
AscendasIndT |
1H : Sep-07 |
2.95 |
$1.45 |
4.069% |
$1.16 |
India – Industrial Park |
|
HWT |
FY08 : IPO |
4.46 |
$0.78 |
5.718% |
$0.73 |
China – Water Plant |
NOTES :
- 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 – November 2007
New data for the month,
- 29-Nov-07 : MapleTree – UBS from 6.87% to 7.31%
- 29-Nov-07 : Saizen – Morgan Stanley from 4.80% to 5.01% (26-Nov-07)
- 27-Nov-07 : Saizen – JPMorgan from 7.33% to 8.00% (26-Nov-07)
- 26-Nov-07 : Suntec – Perennial from 4.91% to 5.24% (22-Nov-07)
- 22-Nov-07 : CCT – Cohen from 4.992% to 5.036% (12-Nov-07)
- 20-Nov-07 : Saizen – JPMorgan from 6.22% to 7.33% (19-Nov-07)
- 19-Nov-07 : Saizen – JPMorgan from 5.44% to 6.22% (15-Nov-07)
- 16-Nov-07 : Cambridge – Capital Group from 6.03% To 7.06% (18-Oct-07)
- 16-Nov-07 : Saizen – JPMorgan from 0% to 5.44% (15-Nov-07)
- 16-Nov-07 : MI-REIT – UBS from 21.09% to 20.32% (15-Nov-07)
- 15-Nov-07 : MI-REIT – UBS from 20.85% to 21.09% (14-Nov-07)
- 14-Nov-07 : Suntec – UBS from 7.01% to 6.76% (12-Nov-07)
- 13-Nov-07 : Saizen – Capital Group from 3.7778% to 5.2462% (9-Nov-07)
- 13-Nov-07 : MI-REIT – UBS from 21.11% to 20.83% (12-Nov-07)
- 13-Nov-07 : MI-REIT – UBS from 20.98% to 21.11% (9-Nov-07)
- 13-Nov-07 : CMT – Temasek from 31.98% to 29.65% (7-Nov-07)
- 9-Nov-07 : MI-REIT – UBS from 21.04% To 20.99% (6-Nov-07)
- 2-Nov-07 : Suntec – MacQuarie from from 5.03% to 4.84% (30-Oct-07)
|
REIT |
Assets |
Debts |
Gearing |
Shares |
Major Shareholders |
|---|---|---|---|---|---|
|
A-REIT |
S$3356M |
S$1239M |
38.4% |
1,324,806,148 |
Ascendas 20.8% ; MGM 6.5% ; Capital Grp 5.82% |
|
AllCo |
S$1527M |
S$509M |
33.3% |
700,731,701 |
AllCo 16.054% ; Capital Grp 12.7003% ; Farallon 9.86% ; Enso 5.997% |
|
AscottREIT |
S$1378M |
S$385M |
28.6% |
605,661,000 |
Temasek 47.17% |
|
Cambridge |
S$680M |
S$330M |
48.4% |
515,305,653 |
Yap Chin Kon – 6.341% ; CWT 8.746% ; Capital Grp 7.06% ; Schroder 5.844% |
|
CapitaRChina |
S$828M |
S$250M |
31.0% |
476,147,309 |
Capitaland 40.04% (CMT 20%) ; PGGM 10% ; Capital Grp 9.8365% |
|
CCT |
S$4672M |
S$1270M |
26.7% |
1,384,094,924 |
Temasek 31.97% ; Stitching 10.67% ; Cohen 5.036% |
|
CDL HTrust |
S$1409M |
S$323M |
23.0% |
823,357,696 |
Hong Leong 39.49% ; Istithmar Hotels 9.7% |
|
CMT |
S$5817M |
S$1883M |
40.7% |
1,565,102,331 |
Temasek 29.65% ; NTUC 6.84% |
|
First REIT |
S$328.6M |
S$50.8M |
16.5% |
271,844,387 |
Lippo 20.3% ; RZB 9.2% |
|
Fortune |
HK$9493M |
HK$2338M |
24.7% |
810,853,651 |
Cheung Kong 34.44% ; Stitching 14.9% ; Temasek 6.93% ; Capital Grp 6.8% ; Cohen 7.047% |
|
FrasersCT |
S$1054M |
S$307.5M |
29.2% |
617,808,520 |
F&N 51% ; Stitching 6.04% ; AIA 5.04% |
|
K-REIT |
S$831M |
S$190M |
22.9% |
242,698,853 |
Keppel 72.2% |
|
LMIR |
S$1105M |
S$0M |
0% |
1,060,414,000 |
Lippo 18.0% ; MapleTree 12.0% ; CPI-Capital 8.5% ; Penta Investments 7.072% |
|
MacCookIReit |
S$362M |
S$26M |
7.8% |
260,610,510 |
UBS 20.32% ; Lion 8.00% ; USS 8.45% ; Indus 5.76% ; MacCook 5% |
|
MapleTree |
S$2243M |
S$1217M |
54.6% |
1,108,180,172 |
Temasek 31.96% ; Capital Grp 7.14% ; UBS 7.31% |
|
MMP |
S$1944M |
S$665M |
34.2% |
951,279,052 |
MacQuarie 26.3% ; Morgan Stanley 11.023% ; AIA 10.998% |
|
PLife |
S$787M |
S$34M |
4.3% |
601,418,000 |
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 10.4% ; JHYP 31.6% ; JHYP II 7.7% ; JPMorgan 8.00% ; Capital Grp 5.2462% ; Morgan Stanley 5.01% |
|
Suntec |
S$4600M |
S$923M |
20.0% |
1,638,792,308 |
Morgan Stanley 7.861% ; UBS 6.76% ; 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
Performance – October 2007
STI +27.46% : 3805.70 (Oct-07) vs 2985.83 (2006)
|
REIT |
Oct-07 |
Dec-06 |
Gain |
Div |
Yield |
Total |
|---|---|---|---|---|---|---|
|
CDL HTrust |
S$2.47 |
S$1.67 |
47.9% |
7.98 |
4.8% |
52.7% |
|
CapitaRChina |
S$2.78 |
S$2.10 |
32.4% |
4.92 |
2.3% |
34.7% |
|
CMT |
S$3.66 |
S$2.91 |
25.8% |
12.87 |
4.4% |
30.2% |
|
K-REIT |
S$2.74 |
S$2.50 |
9.6% |
7.9 |
3.2% |
12.8% |
|
First REIT |
S$0.795 |
S$0.76 |
4.6% |
4.97 |
6.5% |
11.1% |
|
AscottREIT |
S$1.67 |
S$1.60 |
4.4% |
7.24 |
4.5% |
8.9% |
|
CCT |
S$2.69 |
S$2.62 |
2.7% |
8.43 |
3.2% |
5.9% |
|
MMP |
S$1.20 |
S$1.17 |
2.6% |
5.98 |
5.1% |
7.7% |
|
MapleTree |
S$1.20 |
S$1.19 |
0.8% |
6.24 |
5.2% |
6.0% |
|
Suntec |
S$1.81 |
S$1.82 |
-0.5% |
8.15 |
4.5% |
4.0% |
|
Fortune |
HK$5.85 |
HK$5.90 |
-0.8% |
26.21 |
4.4% |
3.6% |
|
A-REIT |
S$2.59 |
S$2.67 |
-3.0% |
13.38 |
5.0% |
2.0% |
|
FrasersCT |
S$1.45 |
S$1.53 |
-5.2% |
6.55 |
4.3% |
-0.9% |
|
AllCo |
S$1.02 |
S$1.11 |
-8.1% |
6.1 |
5.5% |
-2.6% |
|
Cambridge |
S$0.73 |
S$0.80 |
-8.8% |
6.12 |
7.6% |
-1.1% |
NOTES :
- Not Adjusted for Rights or New Issues Which May Be at a Discount
- Dec-06 : End Dec-06 Mkt Price
- Oct-07 : End Oct-07 Mkt Price
- Gain : Capital Gains = (Oct-07 Mkt Price – Dec-06 Mkt Price) / (Dec-06 Mkt Price)
- Div : Total Dividend Received in 2007 (Includes those Not Paid Out ie. Semi-Annual Distribution)
- Yield : Div Yield Using Dec-06 Mkt Price
- Total : Total Gain = Capital Gain + Dividend Yield