Author: tfwee

 

Merry Christmas !

December 24, 2009 Greetings No Comments »

Gearing – November 2009

New Data (Major Shareholders) for the Month

  • 30 Nov 09 : MI-REIT – Cambridge From 9.76 % To 2.73 % (24-Nov-09)
  • 25 Nov 09 : A-REIT – ING From 5.985 % To 6.099 % (19-Nov-09)
  • 24 Nov 09 : MI-REIT – George Wang from 9.96% to 7.45% (24-Nov-09)
  • 24 Nov 09 : LMIR – Stitching From 7.48% to 9.42% (18-Nov-09)
  • 23 Nov 09 : MapleTree – Alliance From 6.08 % To 5.74 % (21-Nov-09)
  • 23 Nov 09 : PLife – Invesco From 4.9541% to 5.0205% (19-Nov-09)
  • 20 Nov 09 : Cambridge – Yap Chin Kok From 6.712 % To 5.668 % (16-Nov-09)
  • 19 Nov 09 : PLife – Invesco From 5.01 % To 4.88 % (17-Nov-09)
  • 19 Nov 09 : LMIR – Penta From 7.20 % To 5.34 % (17-Nov-09)
  • 17 Nov 09 : MI-REIT – George Wang From 8.65 % To 9.96 % (17-Nov-09)
  • 17 Nov 09 : MI-REIT – George Wang From 7.41 % To 8.65 % (16-Nov-09)
  • 16 Nov 09 : LMIR – Penta From 10.38 % To 7.20 % (13-Nov-09)
  • 13 Nov 09 : LMIR – Penta From 12.27 % To 10.38 % (12-Nov-09)
  • 11 Nov 09 : LMIR – Penta From 14.09 % To 12.85 % (10-Nov-09)
  • 11 Nov 09 : LMIR – Penta From 15.29 % To 14.09 % (9-Nov-09)
  • 10 Nov 09 : MI-REIT – RBC (Cambridge) From 8.26 % To 9.76 % (9-Nov-09)
  • 9 Nov 09 : MI-REIT – RBC (Cambridge) From 0% To 8.26 % (6-Nov-09)
  • 9 Nov 09 : CRCT – Capital Group From 8.8929 % To 7.9454 % (4-Nov-09)
  • 6 Nov 09 : MI-REIT – AIMS From 15.67 % To 7.41 % (6-Nov-09)

 

REIT

Assets

Debts

Gearing

Shares

Major Shareholders

A-REIT

S$4695M

S$1407M

30.5%

1,869,920,057

Ascendas 20.66% ; Capital Grp 5.82% ; ING 6.099%

AscottREIT

S$1637M

S$639M

41.5%

616,107,000

Temasek 48.0%

Cambridge

S$917M

S$390M

42.6%

867,545,934

Yap Chin Kok (ChemPark, YCH) 5.668% ; Capital Grp 5.9153%

CapitaRChina

S$1228M

S$411M

34.4%

622,854,695

Capitaland 40.04% (CMT 20%) ; Capital Grp 7.9454% ; Stichting 7.75%

CCT

S$6339M

S$1979M

31.2%

2,811,072,381

Temasek 31.97% ; Cohen 5.036%

CDL HTrust

S$1521M

S$307M

20.2%

836,660,931

Hong Leong 40.06% ; CS 6.8682% ; BOA 5.05%

CMT

S$7448M

S$2198M

30.4%

3,178,584,164

Temasek 29.65% ; NTUC 5.98% ; Capital Grp 8.0182%

First REIT

S$338M

S$50.8M

15.6%

275,474,366

Lippo 20.3% ; RZB 9.2% ; CIM 5.9%

Fortune

HK$9149M

HK$2349M

25.7%

827,513,733

Cheung Kong 32.35% ; DBS 5.88% ; Schroder 8.414%

FrasersCT

S$1165M

S$349M

29.9%

626,565,443

F&N 51% ; AIA 6.0126% ; Capital Group 7.4585%

FrasersComm

S$2063M

S$803M

38.9%

3,033,587,241

F&N 23% ; Farallon 6.22%

K-REIT

S$1970M

S$578M

29.5%

666,703,965

Temasek 75.16%

LMIR

S$1061M

S$125M

11.8%

1,074,848,703

Lippo 27.1% ; MapleTree 13.18% ; Stitching 9.42% ; Penta Investments 5.34% ; CPI-Capital 8.5% ; ABN AMRO 6.51% ; Sumitomo 5.03%

MacCookIReit

S$505M

S$226M

44.7%

266,385,094

AMP 16.11% ; George Wang 7.45% ; UBS 5.76% ; Lion 6.98% ; USS 8.95%

MapleTree

S$3035M

S$1175M

38.1%

1,939,315,301

Temasek 44.41% ; Capital Grp 7.14% ; BOA 7.05% ; Alliance Global Prop 5.74%

PLife

S$1076M

S$249M

23.2%

603,736,000

Newbridge 44.9% (Parkway + TPG Capital) ; Sunil 6.03% ; Invesco 5.0205%

Saizen

JPY51,326M

JPY22,804M

43.5%

952,770,055

V-Nee Yeh (ASM, HCL) 20.201% ; Cube Capital 5.039%

Starhill Gbl

S$2298M

S$625M

27.2%

1,932,468,170

YTL 28.90% ; Morgan Stanley 5.748% ; AIA 11.11%

Suntec

S$5397M

S$1877M

34.3%

1,737,800,826

Asean Inv 5.6801% ; 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 up-to-date. Pls chk SGX Annc to verify

November 30, 2009 Gearing No Comments »

Performance – Nov 09

STI +55.10% : 2732.12 (Nov-09) vs 1761.56 (2008)

Rank – Capital Gains

REIT

Nov-09

Dec-08

Gain

MapleTree

S$0.73

S$0.35

108.6%

CDL HTrust

S$1.49

S$0.73

104.1%

FrasersCT

S$1.24

S$0.63

96.8%

CapitaRChina

S$1.17

S$0.60

95.0%

First REIT

S$0.765

S$0.405

88.9%

AscottREIT

S$1.06

S$0.58

82.8%

Suntec

S$1.29

S$0.71

81.7%

PLife

S$1.21

S$0.76

59.2%

LMIR

S$0.47

S$0.31

51.6%

Cambridge

S$0.415

S$0.275

50.9%

A-REIT

S$1.94

S$1.37

41.6%

K-REIT

S$0.985

S$0.54

40.7%

Fortune

HK$2.73

HK$1.99

37.2%

CCT

S$1.15

S$0.855

28.5%

Saizen

S$0.145

S$0.13

11.5%

CMT

S$1.72

S$1.59

8.2%

StarHill Gbl

S$0.51

S$0.52

-1.9%

MI-REIT

S$0.205

S$0.255

-19.6%

FrasersComm

S$0.135

S$0.235

-42.6%

NOTES :

  • Not Adjusted for Rights or New Issues Which May Be at a Discount
  • Nov-09 : End Nov-09 Mkt Price
  • Dec-08 : End Dec-08 Mkt Price

Gain : Capital Gains = (Nov-09 Mkt Price – Dec-08 Mkt Price) / (Dec-08 Mkt Price)

November 30, 2009 Performance No Comments »

November 2009


NOTE : MI-REIT Yield is Based on 1H10 Proforma Rights Figures

Results Announcement

  • 4 Nov 09 – Fortune (No Change : 1H09 Proforma – Rights Figures Used)
  • 4 Nov 09 – LMIR (Tables Updated)
  • 5 Nov 09 – PLife (Tables Updated)
  • 5 Nov 09 – MI-REIT (Tables Updated)
  • 9 Nov 09 – Rickmers (Table Updated)
  • 11 Nov 09 (AM) – Saizen (Tables Updated)
  • 11 Nov 09 (Noon) – HWT (Table Updated)
  • 12 Nov 09 – CitySpring (Table Updated)
  • 14 Nov 09 – IndiaBulls (Table Updated)

REITs : Average Yield = 7.779% (Excl. Saizen)

REIT
Period
 DPU ct
Price
Yield
NAV
Assets Type
Cambridge
Q3 : Sep-09
1.344
S$0.415
12.848%
S$0.60
 Industrial
LMIR
Q3 : Sep-09
1.22
S$0.47
10.383%
S$0.7443
 Malls – Indonesia
MI-REIT
1H10 (Proforma – Rights)
1.04
S$0.205
10.146%
S$0.31
 Industrial
First REIT
Q3 : Sep-09
1.90
S$0.765
9.961%
S$0.9267
 Hospitals + Hotel (Indonesia)
Suntec
Q3 : Sep-09
2.921
S$1.29
8.984%
S$1.946
 Malls + Office
Fortune
1H09 (Proforma – Rights)
12.03
HK$2.73
8.813%
HK$4.98
 Malls (HK)
MapleTree
Q3 : Sep-09
1.48
S$0.73
8.110%
S$0.86
 Industrial
Starhill Gbl
Q3 : Sep-09
0.95
S$0.51
7.392%
S$0.80
 Malls + Office
AscottREIT
Q3 : Sep-09
1.92
S$1.06
7.245%
S$1.32
 Serviced Apts (Regional)
A-REIT
Q2 : Sep-09
3.48*
S$1.94
7.067%
S$1.58
 Industrial
CapitaRChina
Q3 : Sep-09
2.02
S$1.17
6.846%
S$1.10
 Malls (China)
FrasersCT
Q4 : Sep-09
2.04
S$1.24
6.581%
S$1.22
 Malls
CCT
Q3 : Sep-09
1.85
S$1.15
6.383%
S$1.49
 Office
PLife
Q3 : Sep-09
1.91
S$1.21
6.322%
S$1.32
 Hospitals
K-REIT
FY08 (Proforma – Rights)
6.08
S$0.985
6.173%
S$1.49
 Office
FrasersComm
Q3 : Sep-09
0.2
S$0.135
5.926%
S$0.27
 Malls + Office (S’pore + Aust)
CDL HTrust
Q3 : Sep-09
2.04
S$1.49
5.430%
S$1.41
 Hotels
CMT
Q3 : Sep-09
2.35
S$1.72
5.419%
S$1.54
 Malls + Office
Saizen
Q3 : Sep-09
—
S$0.145
—
S$0.41
 Residential (Japan)

NOTES :

  • Mkt Price is as on 30-Nov-09
  • MapleTree : Private Placement 115Mil New Units @ $0.69 ; SGX Annc (9-Nov-09) ; Proforma (3Q09) – Yield Accretive +1.5% ; DPU 0.74-0.76ct (Advanced Distribution for the Period 1-Oct-09 to 17-Nov-09) for Existing Shareholders ; Gearing ~38.5%
  • MI-REIT : 2-for1 Rights @ $0.159 (xri 25-Nov-09) ; Circular (6-Nov-09) ; 1H10 (Proforma) – DPU 1.04ct (Yield 9.3% @ TERP $0.223 – Mkt $0.41) ; NAV $0.31 ; Gearing 29%
  • PLife : Annualised DPU = 7.65ct
  • Fortune : Q309 DPU = HK9.75ct ; DPU Not Paid as Semi-Annual Payout Policy
  • CDLHTrust : Annualised DPU = 8.09ct ; DPU Not Paid as Semi-Annual Payout Policy
  • StarHill Gbl : Annualised DPU = 3.77ct
  • AscottREIT : DPU Not Paid as Semi-Annual Payout Policy
  • Cambridge : Annualised DPU = 5.332ct ; Cambridge A DPU = 0.708ct (12-Aug-09 to 30-Sep-09)
  • Suntec : Annualised DPU = 11.589ct
  • FrasersComm : Annualised DPU = 0.8ct
  • CRCT : Annualised DPU = 8.01ct ; DPU Not Paid as Semi-Annual Payout Policy
  • FCT : DPU = 1.95ct if exclude Retained Income from Previous Quarters
  • CMT : Annualised DPU = 9.32ct
  • FirstREIT : Annualised DPU 7.62ct
  • CCT : Annualised DPU = 7.34ct ; DPU Not Paid as Semi-Annual Payout Policy
  • A-REIT : DPU = 1.94ct (1-Jul to 19-Aug ; Paid on 23-Sep) + 1.54ct (20-Aug to 30-Sep) ; * Above Yield is Calculated Using DPU = 1.54ct for the Period 20-Aug to 30-Sep.
  • KREIT : Annualised DPU = 10.67ct ; DPU Not Paid as Semi-Annual Payout Policy
  • KREIT : 1-for1 Rights @ $0.93 (xri 23-Oct-09) ; Circular (3-Oct-09) ; FY08 (Proforma) – DPU 6.08ct (Yield 5.8% @ TERP $1.06 – Mkt $1.18) ; NAV $1.49 ; Gearing 9.1%
  • Saizen : No Payout since 1H09 (Dec-08) ; SGX Annc Pg21 : The Board expects Saizen REIT will start accumulating cash for distribution from the last quarter of FY2010 or first quarter of FY2011
  • Fortune : Proposed 1-for-1 Rights @ HK$2.29 (xri 15-Sep-09) ; Circular (24-Aug-09) ; 1H09 (Proforma) – DPU HK12.03ct (Yield 7.52% @ TERP HK$3.20) ; NAV HK$4.98
  • Cambridge : Private Placement – 71.14Mil Shares @ $0.392 ; Listing on 13-Aug-09 9am
  • AREIT : Private Placement – 185Mil Shares @ $1.63 ; Listing on 20-Aug-09 2pm ; Gearing 29.3%
  • FCOT : 3-for-1 Rights @ $0.095 (xr 27-Jul-09) ; Circular (30-Jun-09) ; Mar09 (Proforma) – DPU 1.06ct Annualised (Yield 8% @ $0.131 theoretical ex-rights price) ; NAV $0.26 ; Gearing 38.5% ; New Shares Listing – 27 Aug 09
  • StarHill Gbl : 1-for-1 Rights @ $0.35 (xr 17-Jul-09) ; Circular (22-Jun-09) : FY08 (Proforma) – DPU 3.85ct (Yield 7.8% @ $0.495 theoretical ex-rights price) ; NAV $0.802; Gearing 20.7% ; New Shares Listing – 19 Aug 09
  • CCT : 1-for-1 Rights @ $0.59 (xr 3-Jun-09) ; Circular (29-May-09) : Mar09 (Proforma) – DPU 1.77ct (Yield 7.251% @ $0.825 theoretical ex-rights price) ; NAV $1.51 ; Gearing 30.7%
  • Saizen : 11-for-10 Rights @ $0.09 with Attached Warrants (xr 4-May-09)
  • CMT : 9-for-10 Rights @ $0.82 (xr 4-Mar-09)
  • 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$
Q3 : Sep-09
0.818
 US$0.27
12.119%
$0.40
 Shipping Trust
FSL Trust
Q3 : Sep-09
1.50
S$0.59
14.066%
$0.63
 Shipping Trust
Rickmers
Q3 : Sep-09
0.6
S$0.355
9.351%
$0.88
 Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3832:US$1 fm Yahoo Finance)
  • Rickmers : 13% Payout
  • FSL : Q309 DPU = US1.5ct (50% Payout) ; US1.27ct (Stub Distribution) Already Paid Out ; Balance US0.23ct
  • PST : 70% Payout

Other Trusts (non-REITs)

Trust
Period
 DPU ct
Price
Yield
NAV
Assets Type
CitySpring
Q2 : Sep-09
1.05
$0.57
7.368%
$0.43*
 Infrastructure – Water, Gas
AscendasIndT
1H : Sep-09
3.91
$0.895
8.737%
$0.84
 India – Industrial Park
HWT
2H : Dec-09 (Forecast)
2.86
$0.67
8.537%
$0.76
 China – Water Plant
Indiabulls
Q2 : Sep-09
—
$0.23
—
$0.7242
 India – Office

NOTES :

  • Indiabulls : No DPU Declared
  • CitySpring : The Group NAV per unit before hedging and translation reserves is S$0.52
  • HWT : Q309 DPU = 1.16ct (Not Paid Out as Semi-Annual Payout Policy) ; 2H09 DPU Forecast = 2.86ct
  • a-iTrust : DPU = 1.85ct (Sep) + 2.06ct (Jun)
  • IndiaBulls : Proposed 53-for-100 Rights @ $0.16 (xr 2-Oct-09) ; Circular (10-Sep-09) ; TERP $0.258 (Mkt $0.31) ; NAV $0.54
  • CitySpring : Proposed 1-for-1 Rights @ $0.48 (xr 25-Aug-09) ; Circular (21-Aug-09) ; DPU = 1ct (Proforma Q109) ; Yield 6.349% ; TERP $0.63 (Mkt $0.78) ; NAV $0.28
  • HWT : DPU = 2.56ct (With Sponsor Waiver) ; Sponsor DPU = 1.77ct
  • HWT : DPU Forecast – 1H09 = 2.56ct ; 2H09 = 2.86ct
  • 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)
November 30, 2009 Yield No Comments »

October 2009


NOTE : For K-REIT, Proforma data (from Rights Issue) are used for Yield computation. Please refer to “NOTES” at the bottom of the table for more info.

Results Announcement

  • 13 Oct 09 – K-REIT (Tables Updated)
  • 19 Oct 09 – A-REIT (Tables Updated)
  • 21 Oct 09 (AM) – CCT (Tables Updated)
  • 22 Oct 09 (AM) – FirstREIT (Tables Updated)
  • 22 Oct 09 (AM) – CMT (Tables Updated)
  • 22 Oct 09 – a-iTrust (Table Updated)
  • 22 Oct 09 – MapleTree (Tables Updated)
  • 22 Oct 09 – FCT (Tables Updated)
  • 22 Oct 09 – PST (Table Updated)
  • 23 Oct 09 (AM) – CRCT (Tables Updated)
  • 23 Oct 09 (AM) – FCOT (Tables Updated)
  • 23 Oct 09 (AM) – FSL (Table Updated)
  • 27 Oct 09 – Suntec (Tables Updated)
  • 27 Oct 09 – Cambridge (Tables Updated)
  • 28 Oct 09 (AM) – ART (Tables Updated)
  • 28 Oct 09 – StarHill Gbl (Tables Updated)
  • 30 Oct 09 – CDL H-Trust (Tables Updated)
  • 4 Nov 09 – Fortune
  • 5 Nov 09 – PLife
  • 11 Nov 09 (AM) – Saizen
  • 12 Nov 09 – CitySpring

REITs : Average Yield = 8.014% (Excl. Saizen)

REIT
Period
 DPU ct
Price
Yield
NAV
Assets Type
MI-REIT
Q1 : Jun-09
1.51
S$0.415
14.554%
S$1.07
 Industrial
Cambridge
Q3 : Sep-09
1.344
S$0.465
11.467%
S$0.60
 Industrial
LMIR
Q2 : Jun-09
1.3
S$0.47
11.064%
S$0.7393
 Malls – Indonesia
First REIT
Q3 : Sep-09
1.90
S$0.705
10.809%
S$0.9267
 Hospitals + Hotel (Indonesia)
Suntec
Q3 : Sep-09
2.921
S$1.20
9.658%
S$1.946
 Malls + Office
Fortune
1H09 (Proforma – Rights)
12.03
HK$2.80
8.593%
HK$4.98
 Malls (HK)
MapleTree
Q3 : Sep-09
1.48
S$0.75
7.893%
S$0.86
 Industrial
A-REIT
Q2 : Sep-09
3.48*
S$1.86
7.371%
S$1.58
 Industrial
AscottREIT
Q3 : Sep-09
1.92
S$1.06
7.245%
S$1.32
 Serviced Apts (Regional)
CapitaRChina
Q3 : Sep-09
2.02
S$1.13
7.088%
S$1.10
 Malls (China)
CCT
Q3 : Sep-09
1.85
S$1.07
6.860%
S$1.49
 Office
FrasersCT
Q4 : Sep-09
2.04
S$1.21
6.744%
S$1.22
 Malls
Starhill Gbl
Q3 : Sep-09
0.95
S$0.58
6.500%
S$0.80
 Malls + Office
PLife
Q2 : Jun-09
1.89
S$1.23
6.138%
S$1.32
 Hospitals
K-REIT
FY08 (Proforma – Rights)
6.08
S$1.04
5.846%
S$1.49
 Office
CMT
Q3 : Sep-09
2.35
S$1.60
5.825%
S$1.54
 Malls + Office
FrasersComm
Q3 : Sep-09
0.2
S$0.145
5.517%
S$0.27
 Malls + Office (S’pore + Aust)
CDL HTrust
Q3 : Sep-09
2.04
S$1.59
5.088%
S$1.41
 Hotels
Saizen
2H : Jun-09
—
S$0.145
—
S$0.40
 Residential (Japan)

NOTES :

  • Mkt Price is as on 30-Oct-09
  • CDLHTrust : Annualised DPU = 8.09ct ; DPU Not Paid as Semi-Annual Payout Policy
  • StarHill Gbl : Annualised DPU = 3.77ct
  • AscottREIT : DPU Not Paid as Semi-Annual Payout Policy
  • Cambridge : Annualised DPU = 5.332ct ; Cambridge A DPU = 0.708ct (12-Aug-09 to 30-Sep-09)
  • Suntec : Annualised DPU = 11.589ct
  • FrasersComm : Annualised DPU = 0.8ct
  • CRCT : Annualised DPU = 8.01ct ; DPU Not Paid as Semi-Annual Payout Policy
  • FCT : DPU = 1.95ct if exclude Retained Income from Previous Quarters
  • CMT : Annualised DPU = 9.32ct
  • FirstREIT : Annualised DPU 7.62ct
  • CCT : Annualised DPU = 7.34ct ; DPU Not Paid as Semi-Annual Payout Policy
  • A-REIT : DPU = 1.94ct (1-Jul to 19-Aug ; Paid on 23-Sep) + 1.54ct (20-Aug to 30-Sep) ; * Above Yield is Calculated Using DPU = 1.54ct for the Period 20-Aug to 30-Sep.
  • KREIT : Annualised DPU = 10.67ct ; DPU Not Paid as Semi-Annual Payout Policy
  • KREIT : Proposed 1-for1 Rights @ $0.93 (xri 23-Oct-09) ; Circular (3-Oct-09) ; FY08 (Proforma) – DPU 6.08ct (Yield 5.8% @ TERP $1.06 – Mkt $1.18) ; NAV $1.49 ; Gearing 9.1%
  • Saizen : No Payout since 1H09 (Dec-08) ; SGX Annc Pg21 : The Board expects Saizen REIT will start accumulating cash for distribution from the last quarter of FY2010 or first quarter of FY2011
  • Fortune : Proposed 1-for-1 Rights @ HK$2.29 (xri 15-Sep-09) ; Circular (24-Aug-09) ; 1H09 (Proforma) – DPU HK12.03ct (Yield 7.52% @ TERP HK$3.20) ; NAV HK$4.98
  • Cambridge : Private Placement – 71.14Mil Shares @ $0.392 ; Listing on 13-Aug-09 9am
  • AREIT : Private Placement – 185Mil Shares @ $1.63 ; Listing on 20-Aug-09 2pm ; Gearing 29.3%
  • PLife : Annualised DPU = 7.55ct
  • FCOT
    :     3-for-1 Rights @ $0.095 (xr 27-Jul-09) ; Circular (30-Jun-09) ; Mar09 (Proforma) – DPU 1.06ct Annualised (Yield 8% @ $0.131 theoretical ex-rights price) ; NAV $0.26 ; Gearing 38.5% ; New Shares Listing – 27 Aug 09
  • StarHill Gbl : 1-for-1 Rights @ $0.35 (xr 17-Jul-09) ; Circular (22-Jun-09) : FY08 (Proforma) – DPU 3.85ct (Yield 7.8% @ $0.495 theoretical ex-rights price) ; NAV $0.802; Gearing 20.7% ; New Shares Listing – 19 Aug 09
  • CCT : 1-for-1 Rights @ $0.59 (xr 3-Jun-09) ; Circular (29-May-09) : Mar09 (Proforma) – DPU 1.77ct (Yield 7.251% @ $0.825 theoretical ex-rights price) ; NAV $1.51 ; Gearing 30.7%
  • Saizen : 11-for-10 Rights @ $0.09 with Attached Warrants (xr 4-May-09)
  • CMT : 9-for-10 Rights @ $0.82 (xr 4-Mar-09)
  • 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$
Q3 : Sep-09
0.818
 US$0.265
12.347%
$0.40
 Shipping Trust
FSL Trust
Q3 : Sep-09
1.50
S$0.60
13.964%
$0.63
 Shipping Trust
Rickmers
Q2 : Jun-09
0.6
S$0.37
9.058%
$0.87
 Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3997:US$1 fm Yahoo Finance)
  • FSL : Q309 DPU = US1.5ct (50% Payout) ; US1.27ct (Stub Distribution) Already Paid Out ; Balance US0.23ct
  • PST : 70% Payout
  • Rickmers : 13% Payout
  • FSL : SGX Annc (21-Jul-09) Quarterly DPU Forecast – Q309 US1.5ct (50% Payout)

Other Trusts (non-REITs)

Trust
Period
 DPU ct
Price
Yield
NAV
Assets Type
CitySpring
Q1 : Jun-09 (Proforma – Rights)
1.0
$0.575
6.957%
$0.43*
 Infrastructure – Water, Gas
AscendasIndT
1H : Sep-09
3.91
$0.93
8.409%
$0.84
 India – Industrial Park
HWT
1H : Jun-09
2.56
$0.675
7.585%
$0.80
 China – Water Plant
Indiabulls
Q1 : Jun-09
—
$0.265
—
$0.7461
 India – Office

NOTES :

  • a-iTrust : DPU = 1.85ct (Sep) + 2.06ct (Jun)
  • IndiaBulls : Proposed 53-for-100 Rights @ $0.16 (xr 2-Oct-09) ; Circular (10-Sep-09) ; TERP $0.258 (Mkt $0.31) ; NAV $0.54
  • CitySpring : Proposed 1-for-1 Rights @ $0.48 (xr 25-Aug-09) ; Circular (21-Aug-09) ; DPU = 1ct (Proforma Q109) ; Yield 6.349% ; TERP $0.63 (Mkt $0.78) ; NAV $0.28
  • HWT : DPU = 2.56ct (With Sponsor Waiver) ; Sponsor DPU = 1.77ct
  • CitySpring : The Group NAV per unit before hedging and translation reserves is S$0.61
  • Indiabulls : No DPU Declared
  • CitySpring : DPU Forecast – FY10 (Mar) = 7ct
  • HWT : DPU Forecast – 1H09 = 2.56ct ; 2H09 = 2.86ct
  • 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)
October 30, 2009 Yield No Comments »