Author: tfwee

 

May 2007

New data for the month includes,

SGX Announcement

  • 8-May-07 (mkt close) : Fortune – Q107 Results
  • 2-May-07 (mkt close) : CDLHTrust – Q107 Results

Average Yield = 4.373%

REIT

Period

DPU ct

Price

Yield

NAV

Assets Type

First REIT

Q1 : Mar-07

1.60

S$0.77

8.429%

S$0.865

 Hospitals + Hotel (Indonesia)

MI-REIT

FY08 – IPO

7.41

S$1.23

6.024%

S$1.116

 Industrial

Fortune

Q1 : Mar-07

9.07

HK$6.05

5.997%

HK$8.45

 Malls (HK)

Cambridge

Q1 : Mar-07

1.434

S$0.97

5.996%

S$0.67

 Industrial

AllCo

Q1 : Mar-07

1.60

S$1.27

5.110%

S$1.14

 Malls + Office (S’pore and Aust)

MMP

Q1 : Mar-07

1.47

S$1.24

4.806%

S$1.14

 Malls + Office

A-REIT

Q4 : Mar-07

3.30

S$2.81

4.698%

S$1.46

 Industrial

MapleTree

Q1 : Mar-07

1.48

S$1.45

4.083%

S$0.83

 Industrial

Suntec

Q2 : Mar-07

1.965

S$2.00

3.987%

S$1.78

 Malls + Office

FrasersCT

Q2 : Mar-07

1.67

S$1.80

3.711%

S$1.09

 Malls

CDL HTrust

Q1 : Mar-07

1.75

S$2.14

3.318%

S$1.02

 Hotels

AscottREIT

Q1 : Mar-07

1.59

S$1.95

3.262%

S$1.38

 Serviced Apts (Regional)

CMT

Q1 : Mar-07

3.00

S$4.06

2.998%

S$1.87

 Malls + Office

CCT

Q1 : Mar-07

2.11

S$2.94

2.912%

S$1.86

 Office

K-REIT

Q1 : Mar-07

1.77

S$2.86

2.510%

S$2.02

 Office

CapitaRChina

Q1 : Mar-07

1.51

S$2.86

2.136%

S$0.98

 Malls (China)

NOTES :

  • Mkt Price is as on 30-May-07
  • Fortune : Div Not Paid Out
  • CDL HTrust : Annualised DPU = 7.1ct ; Not Paid Out
  • AllCo : Annualised DPU = 6.49ct ; Not Paid Out
  • First REIT : Annualised DPU = 6.49ct ; Actual Payout = 1.96ct (19-Oct-06 to 31-Mar-07)
  • MapleTree : Actual DPU Payout = 1.1ct (25-Jan-07 to 31-Mar-07) ; 0.38ct (1-Jan-07 to 24-Jan-07) Already Paid
  • Suntec : Annualised DPU = 7.97ct
  • Cambridge : Annualised DPU = 5.816ct
  • CCT : Annualised DPU = 8.56ct ; Not Paid Out
  • AscottREIT : Div Payout = 1.5ct (1-Jan-07 to 25-Mar-07) Due to Equity Fund Raising. Usual Payout is Semi-Annual
  • MMP : Annualised DPU = 5.96ct
  • CMT : Annualised DPU = 12.17ct
  • CapitaRChina : Annualised DPU = 6.11ct ; Total = 1.57ct (23-Oct-06 to 31-Mar-07) Not Paid Out
  • A-REIT : DPU 1.198ct for ‘A’ Stocks (Issued on 26-Feb-07)
  • K-REIT : Div Not Paid (Semi-Annual Policy) ; Annualised DPU = 7.18ct

Shipping Trusts (non-REITs)

Trust

Period

DPU ct

Price

Yield

NAV

Assets Type

PacShipTr US$

Q1 : Mar-07

1.04

$0.445

9.348%

$0.44

 Shipping Trust

FSL Trust US$

FY07 – IPO

7.81

$0.99

8.606%

$0.95

 Shipping Trust

Rickmers

FY07 – IPO

6.42

S$1.58

8.181%

?

 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 31-Dec-07 ; Annualised DPU 8.56ct
  • FSL : DPU is for 1-Feb-07 to 31-Dec-07 ; Annualised DPU 8.52ct
  • FSL : IPO Quarterly DPU Forecast – 2.13ct (FY07) ; 2.237ct (1H08) ; 2.343ct (2H08) ; 2.45ct (1H09)
May 30, 2007 Yield No Comments »

Performance – May 2007

STI +17.59% : 3511.13 (May-07) vs 2985.83 (2006)

Rank – Capital Gains

REIT

May-07

Dec-06

Gain

Div

Yield

Total

CMT

S$4.06

S$2.91

39.5%

6.35

1.6%

 41.1%

CapitaRChina

S$2.86

S$2.10

36.2%

1.51

0.7%

 36.9%

CDL HTrust

S$2.14

S$1.67

28.1%

3.51

2.1%

 30.2%

AscottREIT

S$1.95

S$1.60

21.9%

3.24

2.0%

 23.9%

MapleTree

S$1.45

S$1.19

21.8%

2.93

2.5%

 24.3%

Cambridge

S$0.97

S$0.80

21.3%

2.856

3.6%

 24.8%

FrasersCT

S$1.80

S$1.53

17.6%

3.21

2.1%

 19.7%

AllCo

S$1.27

S$1.11

14.4%

3.12

2.8%

 17.2%

K-REIT

S$2.86

S$2.50

14.4%

3.53

1.4%

 15.8%

CCT

S$2.94

S$2.62

12.2%

4.15

1.6%

 13.8%

Suntec

S$2.00

S$1.82

9.9%

3.928

2.2%

 12.0%

MMP

S$1.24

S$1.17

6.0%

2.94

2.5%

 8.5%

A-REIT

S$2.81

S$2.67

5.2%

6.5

2.4%

 7.7%

Fortune

HK$6.05

HK$5.90

2.5%

17.58

3.0%

 5.5%

First REIT

S$0.77

S$0.76

1.3%

1.6

2.1%

 3.4%

NOTES :

  • Dec-06 : End Dec-06 Mkt Price
  • May-07 : End May-07 Mkt Price
  • Gain : Capital Gains = (May-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

May 30, 2007 Performance No Comments »

Gearing – May 2007

New data for the month,

  • 30-May-07 : MacCookIReit – Lion – from 7.15% to 8.02%
  • 29-May-07 : MacCookIReit – UBS from 12.92% To 13.04%
  • 16-May-07 : AREIT – MacQuarie from 6.94% to 7.41%
  • 15-May-07 : Suntec – Morgan Stanley from 7.0307% to 8.0833%
  • 11-May-07 : AllCo – Capital Grp from 16.5982% to 15.9455%
  • 9-May-07 : MacCookIReit – UBS from 11.19% To 12.92%
  • 8-May-07 : Fortune – Q107 Results
  • 3-May-07 : MacCookIReit – Lion (GE/OCBC) – from 5.6% to 7.15%
  • 4-May-07 : MacCookIReit – USS from 5.76% to 8.45%
  • 2-May-07 : CDLHTrust – Q107 Results

REIT

Assets

Debts

Gearing

Shares

Major Shareholders

A-REIT

S$3307M

S$1185M

37.3%

1,321,635,324

Ascendas 20.8% ; MGM 6.5% ; Capital Grp 5.82% ; MacQuarie 7.41%

AllCo

S$908M

S$304M

33.5%

495,588,151

AllCo 16.054% ; Capital Grp 15.9455% ; Farallon 9.91%

AscottREIT

S$1309M

S$308M

29.6%

499,400,889

Temasek 47.17%

Cambridge

S$631M

S$282M

44.7%

513,833,517

YCH 8.6% ; CWT 9.76% ; Capital Grp 6.0139%

CapitaRChina

S$783M

S$229M

29.6%

475,806,233

Capitaland 20% ; CMT 20% ; PGGM 10% ; Capital Grp 10.06%

CCT

S$3891M

S$1221M

30.9%

1,383,002,504

Temasek 31.97% ; Capital Grp 6.8231% ; Stitching 10.67%

CDL HTrust

S$1116M

S$394M

35.3%

700,942,645

CDL 40.2% ; Siong Lim 9.6% ; Istithmar Hotels 9.7%

CMT

S$4811M

S$1584M

35.6%

1,563,162,337

Temasek 32.99% ; NTUC 6.84% ; Capital Grp 6.1%

First REIT

S$269M

S$0

0.0%

271,645,968

Lippo 20.3% ; RZB 9.2%

Fortune

HK$9468M

HK$2336M

24.8%

808,560,010

Cheung Kong 34.44% ; Stitching 14.9% ; Temasek 6.93% ; Capital Grp 6.8% ; Cohen 6.024%

FrasersCT

S$955M

S$260M

27.1%

616,452,502

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

K-REIT

S$691M

S$190M

27.5%

241,997,637

Keppel 72.2%

MacCookIReit

S$319M

S$27M

8.6%

247,330,000

UBS 13.04% ; Lion 8.02% ; USS 8.45% ; Indus 5.76% ; MacCook 5%

MapleTree

S$1637M

S$630M

39.0%

1,108,180,172

Temasek 31.96% ; Capital Grp 7.14% ; UBS 6.13%

MMP

S$1525M

S$389M

25.5%

949,308,667

MacQuarie 24.3% ; Morgan Stanley 8.11% ; AIA 6.8%

Suntec

S$3913M

S$915M

23.3%

1,632,869,635

MacQuarie 11.12% ; Morgan Stanley 8.0833% ; UBS 6.91% ; Shaw 5.81% ; Cheng YT 5.81% ; Lee SK 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
May 30, 2007 Gearing No Comments »

SREIT IPO/Placement Price

IPO Price / Placement Price

S-REITs

IPO

2nd

3rd

4th

5th

6th

7th

SuntecReit

$ 1.00

$ 1.50

–

–

–

–

–

MMP Reit

$ 0.98

–

–

–

–

–

–

CapitaMall

$ 0.96

$ 1.33

$ 1.62

$ 2.33

$ 2.35

$ 2.30

–

FrasersCT

$ 1.03

–

–

–

–

–

–

CapitaRChina

$ 1.13

–

–

–

–

–

–

Fortune Reit

HKD 4.75




–

–

–

CapitaComm

–

$ 1.38

$ 1.665

$ 1.68

–

–

–

K-REIT

$ 0.98

–

–

–

–

–

–

AllcoReit

$ 1.00

–

–

–

–

–

–

Ascendasreit

$ 0.88

$ 1.16

$ 1.40

$ 1.55

$ 1.8650

$ 2.13

$ 2.48

MapletreeLog

$ 0.68

$ 0.96

$ 1.18

–

–

–

–

Cambridge

$ 0.68

–

–

–

–

–

–

AscottREIT

$ 0.68

$ 1.10

$ 1.90

–

–

–

–

CDL Htrust

$ 0.83

–

–

–

–

–

–

First REIT

$ 0.71

–

–

–

–

–

–

MIREIT

$ 1.20

–

–

–

–

–

–

Data is corrected at 25 May 2007.

May 25, 2007 IPO/PLACEMENT No Comments »

UOBKH – 21 May 07

Click on the Table below for a bigger view,

A summary of this report can be found at SREIT blog.

May 21, 2007 Analysts No Comments »