Author: tfwee
Phillip – 17 Sep 2007
The following table (click on it to get a bigger view) is extracted from Phillip Securities report on MI-REIT,
Performance – August 2007
STI +13.63% : 3392.91 (Aug-07) vs 2985.83 (2006)
|
REIT |
Aug-07 |
Dec-06 |
Gain |
Div |
Yield |
Total |
|---|---|---|---|---|---|---|
|
CDL HTrust |
S$2.22 |
S$1.67 |
32.9% |
5.62 |
3.4% |
36.3% |
|
CapitaRChina |
S$2.52 |
S$2.10 |
20.0% |
3.21 |
1.5% |
21.5% |
|
CMT |
S$3.40 |
S$2.91 |
16.8% |
9.47 |
3.3% |
20.1% |
|
AscottREIT |
S$1.69 |
S$1.60 |
5.6% |
5.25 |
3.3% |
8.9% |
|
MMP |
S$1.22 |
S$1.17 |
4.3% |
4.44 |
3.8% |
8.1% |
|
Cambridge |
S$0.83 |
S$0.80 |
3.7% |
4.416 |
5.5% |
9.2% |
|
First REIT |
S$0.76 |
S$0.76 |
0.0% |
3.25 |
4.3% |
4.3% |
|
Fortune |
HK$5.85 |
HK$5.90 |
-0.8% |
26.21 |
4.4% |
3.6% |
|
MapleTree |
S$1.16 |
S$1.19 |
-2.5% |
4.52 |
3.8% |
1.3% |
|
FrasersCT |
S$1.49 |
S$1.53 |
-2.6% |
4.88 |
3.2% |
0.6% |
|
Suntec |
S$1.77 |
S$1.82 |
-2.7% |
6.028 |
3.3% |
-0.6% |
|
K-REIT |
S$2.42 |
S$2.50 |
-3.2% |
5.67 |
2.3% |
-0.8% |
|
CCT |
S$2.52 |
S$2.62 |
-3.8% |
6.29 |
2.4% |
-1.4% |
|
AllCo |
S$1.02 |
S$1.11 |
-8.1% |
4.51 |
4.1% |
-4.0% |
|
A-REIT |
S$2.35 |
S$2.67 |
-12.0% |
9.87 |
3.7% |
-8.3% |
NOTES :
- Not Adjusted for Rights or New Issues Which May Be at a Discount
- Dec-06 : End Dec-06 Mkt Price
- Aug-07 : End Aug-07 Mkt Price
- Gain : Capital Gains = (Aug-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
August 2007
New data for the month,
- 22-Aug-07 : PLife – Listing on 23-Aug-07 2pm
|
REIT |
Period |
DPU ct |
Price |
Yield |
NAV |
Assets Type |
|---|---|---|---|---|---|---|
|
First REIT |
Q2 : Jun-07 |
1.65 |
S$0.76 |
8.671% |
S$0.865 |
Hospitals + Hotel (Indonesia) |
|
Cambridge |
Q2 : Jun-07 |
1.56 |
S$0.83 |
7.539% |
S$0.67 |
Industrial |
|
MI-REIT |
Q1 : Jun-07 |
1.52 |
S$1.20 |
6.317% |
S$1.13 |
Industrial |
|
Fortune |
1H : Jun-07 |
17.7 |
HK$5.85 |
6.051% |
HK$8.52 |
Malls (HK) |
|
AllCo |
1H : Jun-07 |
2.99 |
S$1.02 |
5.912% |
S$1.35 |
Malls + Office (S’pore and Aust) |
|
A-REIT |
Q1 : Jun-07 |
3.37 |
S$2.35 |
5.740% |
S$1.46 |
Industrial |
|
MapleTree |
Q2 : Jun-07 |
1.59 |
S$1.16 |
5.483% |
S$0.85 |
Industrial |
|
PLife |
2H07 : IPO |
3.03 |
S$1.21 |
5.016% |
S$1.25 |
Hospitals |
|
MMP |
Q2 : Jun-07 |
1.50 |
S$1.22 |
4.934% |
S$1.25 |
Malls + Office |
|
Suntec |
Q3: Jun-07 |
2.10 |
S$1.77 |
4.760% |
S$1.78 |
Malls + Office |
|
FrasersCT |
Q3 : Jun-07 |
1.67 |
S$1.49 |
4.483% |
S$1.09 |
Malls |
|
AscottREIT |
1H : Jun-07 |
3.60 |
S$1.69 |
4.260% |
S$1.40 |
Serviced Apts (Regional) |
|
CMT |
Q2 : Jun-07 |
3.12 |
S$3.40 |
3.679% |
S$2.08 |
Malls + Office |
|
CDL HTrust |
1H : Jun-07 |
3.86 |
S$2.22 |
3.505% |
S$1.04 |
Hotels |
|
CCT |
1H : Jun-07 |
4.25 |
S$2.52 |
3.385% |
S$2.39 |
Office |
|
K-REIT |
1H : Jun-07 |
3.91 |
S$2.42 |
3.256% |
S$2.00 |
Office |
|
CapitaRChina |
1H : Jun-07 |
3.21 |
S$2.52 |
2.563% |
S$0.99 |
Malls (China) |
NOTES :
- Mkt Price is as on 31-Aug-07
- PLife : IPO Forecast – 2H07 : 3.3ct ; FY08 : 6.25ct ; FY09 : 6.39ct
- CDL HTrust : Annualised DPU = 7.78ct ; Actual Payout = 4.11ct for Period 1-Jan-07 to 18-Jul-07
- Cambridge : Annualised DPU = 6.257ct
- Suntec : Annualised DPU = 8.425ct
- CMT : Annualised DPU = 12.51ct
- MI-REIT : Annualised DPU = 7.58ct ; DPU Payout for Period 19-Apr-07 to 30-Jun-07
- MMP : Annualised DPU = 6.02ct
- AscottREIT : Actual DPU Payout = 2.1ct ; 1.5ct Already Paid for 1-Jan-07 to 25-Mar-07
- CapitaRChina : Annualised DPU = 6.46ct ; Actual DPU Payout = 3.27ct (23-Oct-06 to 30-Jun-07)
- First REIT : Annualised DPU = 6.59ct
- CCT : Annualised DPU = 8.53ct
- A-REIT : Annualised DPU = 13.49ct
- K-REIT : Annualised DPU = 7.88ct
|
Trust |
Period |
DPU ct |
Price |
Yield |
NAV |
Assets Type |
|---|---|---|---|---|---|---|
|
PacShipTr US$ |
Q2 : Jun-07 |
1.06 |
$0.46 |
9.217% |
$0.44 |
Shipping Trust |
|
FSL Trust US$ |
Q2 : Jun-07 |
2.3 |
$0.87 |
10.08% |
$0.96 |
Shipping Trust |
|
Rickmers |
Q2 : Jun-07 |
1.364 |
S$1.64 |
7.881% |
$1.02 |
Shipping Trust |
NOTES :
- All in US$ except for Rickmers Mkt Price
- Rickmers : Yield Computed Using Exchange Rate S$1.51:US$1 (IPO Prospectus)
- Rickmers : DPU is for 1-Apr-07 to 30-Jun07 ; Annualised DPU 8.56ct
- FSL : DPU is for 27-Mar-07 to 30-Jun-07 ; Annualised DPU 8.77ct
- FSL : IPO Quarterly DPU Forecast – 2.13ct (FY07) ; 2.237ct (1H08) ; 2.343ct (2H08) ; 2.45ct (1H09)
Gearing – August 2007
New data for the month,
- 30-Aug-07 : Suntec – Temasek from 6.05% to 5.98%
- 30-Aug-07 : Cambridge – Yap Chin Kok 9.765% (Direct 5.248% – Buy fm YCH @ $0.8277 ; Deemed 4.517% – YCH)
- 27-Aug-07 : PLife – UBS from 13.4367 % To 14.1833 %
- 24-Aug-07 : PLife – UBS 13.4367% (80,611,000) incl. 43,329,000 Shares fm Over-Allotment Option ; Sunil Chandiramani 6.03% / Anil Thadani 5.96% / Britten 5.95% (Sunil + Anil Deemed Interest)
- 24-Aug-07 : MMP – Temasek from 5.04% to 4.13%
- 24-Aug-07 : Suntec – Temasek from 5.16% to 6.05%
- 23-Aug-07 : CMT – Capital Group from 6.99% To 5.93%
- 23-Aug-07 : MacCookIReit – Lion Capital from 9.27% To 8.99%
- 23-Aug-07 : Cambridge – YCH from 8.346% To 3.098%
- 23-Aug-07 : MapleTree – UBS from 6.74% To 7.06%
- 22-Aug-07 : PLife – Starts trading 23-Aug-07 2pm
- 22-Aug-07 : Suntec – MacQuarie Bank from 7.73% to 4.75%
- 20-Aug-07 : Suntec – UBS from 7.01% to 6.83%
- 17-Aug-07 : AREIT – MacQuarie Bank from 7.00% To 4.90%
- 16-Aug-07 : CapitaRChina – Capital Group from 8.0491% To 9.0961%
- 14-Aug-07 : MMP – MacQuarie Bank from 25.96% To 26.30%
- 14-Aug-07 : MacCookIReit – UBS from 19% To 18.94%
- 13-Aug-07 : MacCookIReit – UBS from 18.84% To 19.00%
- 8-Aug-07 : Suntec – Citigroup from 5.10% to 4.73%
- 7-Aug-07 : MMP – AIA from 11.01% to 10.998%
- 7-Aug-07 : MacCookIReit – UBS from 19.1% To 18.82%
- 3-Aug-07 : Suntec – MacQuarie Bank from 8.18% to 7.8%
- 3-Aug-07 : CapitaRChina – Capital Group from 7.6391% To 8.0491%
- 3-Aug-07 : MacCookIReit – UBS from 18.91% To 19.32%
|
REIT |
Assets |
Debts |
Gearing |
Shares |
Major Shareholders |
|---|---|---|---|---|---|
|
A-REIT |
S$3329M |
S$1216M |
38.0% |
1,324,806,148 |
Ascendas 20.8% ; MGM 6.5% ; Capital Grp 5.82% |
|
AllCo |
S$1267M |
S$306M |
24.2% |
697,314,606 |
AllCo 16.054% ; Capital Grp 14.9252% ; Farallon 9.86% ; Enso 5.997% |
|
AscottREIT |
S$1303M |
S$365M |
28.0% |
604,735,000 |
Temasek 47.17% |
|
Cambridge |
S$673M |
S$322M |
47.7% |
514,504,160 |
Yap Chin Kon – 9.765% ; CWT 9.76% ; Capital Grp 6.0139% |
|
CapitaRChina |
S$793M |
S$230M |
29.6% |
475,971,690 |
Capitaland 20% ; CMT 20% ; PGGM 10% ; Capital Grp 9.0961% |
|
CCT |
S$4638M |
S$1204M |
25.5% |
1,383,555,748 |
Temasek 31.97% ; Capital Grp 5.9624% ; Stitching 10.67% |
|
CDL HTrust |
S$1365M |
S$590M |
43.2% |
702,512,807 |
Hong Leong 39.49% ; Istithmar Hotels 9.7% |
|
CMT |
S$5782M |
S$1876M |
40.3% |
1,564,310,772 |
Temasek 31.98% ; NTUC 6.84% ; Capital Grp 5.93% |
|
First REIT |
S$306.7M |
S$35.9M |
12.2% |
271,844,387 |
Lippo 20.3% ; RZB 9.2% |
|
Fortune |
HK$9545M |
HK$2336M |
24.6% |
809,641,049 |
Cheung Kong 34.44% ; Stitching 14.9% ; Temasek 6.93% ; Capital Grp 6.8% ; Cohen 7.047% |
|
FrasersCT |
S$1003M |
S$307.5M |
30.7% |
617,212,469 |
F&N 51% ; Stitching 6.04% ; AIA 5.04% |
|
K-REIT |
S$696M |
S$190M |
27.3% |
242,332,586 |
Keppel 72.2% |
|
MacCookIReit |
S$323M |
S$26M |
8.1% |
260,504,932 |
UBS 18.94% ; Lion 8.99% ; USS 8.45% ; Indus 5.76% ; MacCook 5% |
|
MapleTree |
S$2201M |
S$1182M |
54.0% |
1,108,180,172 |
Temasek 31.96% ; Capital Grp 7.14% ; UBS 7.06% |
|
MMP |
S$1763M |
S$510M |
29.0% |
950,278,429 |
MacQuarie 26.3% ; Morgan Stanley 11.023% ; AIA 10.998% |
|
PLife |
S$787M |
S$34M |
4.3% |
601,418,000 |
Newbridge 46.8% (Parkway + TPG Capital) ; UBS 14.1833% ; Sunil 6.03% |
|
Suntec |
S$3913M |
S$915M |
23.3% |
1,634,654,434 |
Morgan Stanley 10.6036% ; UBS 6.83% ; Shaw 5.81% ; Cheng YT 5.81% ; Temasek 5.98% |
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 – July 2007
STI +18.82% : 3547.66 (Jul-07) vs 2985.83 (2006)
|
REIT |
Jul-07 |
Dec-06 |
Gain |
Div |
Yield |
Total |
|---|---|---|---|---|---|---|
|
CDL HTrust |
S$2.25 |
S$1.67 |
34.7% |
5.62 |
3.4% |
38.1% |
|
CapitaRChina |
S$2.78 |
S$2.10 |
32.4% |
3.21 |
1.5% |
33.9% |
|
CMT |
S$3.76 |
S$2.91 |
29.2% |
9.47 |
3.3% |
32.5% |
|
AscottREIT |
S$1.95 |
S$1.60 |
21.9% |
5.25 |
3.3% |
25.2% |
|
K-REIT |
S$2.94 |
S$2.50 |
17.6% |
5.67 |
2.3% |
19.9% |
|
Cambridge |
S$0.915 |
S$0.80 |
14.4% |
4.416 |
5.5% |
19.9% |
|
MapleTree |
S$1.34 |
S$1.19 |
12.6% |
4.52 |
3.8% |
16.4% |
|
MMP |
S$1.25 |
S$1.17 |
6.8% |
4.44 |
3.8% |
10.6% |
|
Fortune |
HK$6.25 |
HK$5.90 |
5.9% |
26.21 |
4.4% |
10.4% |
|
First REIT |
S$0.805 |
S$0.76 |
5.9% |
3.25 |
4.3% |
10.2% |
|
Suntec |
S$1.90 |
S$1.82 |
4.4% |
6.028 |
3.3% |
7.7% |
|
CCT |
S$2.66 |
S$2.62 |
1.5% |
6.29 |
2.4% |
3.9% |
|
A-REIT |
S$2.71 |
S$2.67 |
1.5% |
9.87 |
3.7% |
5.2% |
|
FrasersCT |
S$1.54 |
S$1.53 |
0.7% |
4.88 |
3.2% |
3.8% |
|
AllCo |
S$1.11 |
S$1.11 |
0.0% |
4.51 |
4.1% |
4.1% |
NOTES :
- Not Adjusted for Rights or New Issues Which May Be at a Discount
- Dec-06 : End Dec-06 Mkt Price
- Jul-07 : End Jul-07 Mkt Price
- Gain : Capital Gains = (Jul-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