Category: Yield

 

December 2011

 

REITs : Average Yield = 7.814%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

AIMSAMPI Reit

Q2 – Sep11

2.5

$0.945

10.582%

$1.365

30.00%

Industrial

Sabana REIT

Q3 – Sep11

2.14

$0.875

9.703%

$1.050

23.80%

Industrial

SuntecReit

Q3 – Sep11

2.533

$1.075

9.348%

$1.761

39.86%

Retail + Office

LippoMalls

1H11 – Rights

1.63

$0.350

9.314%

$0.575

10.10%

Retail (Indonesia)

Cambridge

Q3 – Sep11

1.082

$0.475

9.038%

$0.617

33.10%

Industrial

AscottREIT

Q3 – Sep11

2.23

$0.990

9.010%

$1.280

41.10%

Serviced Apts (Regional)

First REIT

Q3 – Sep11

1.92

$0.760

8.934%

$0.779

16.40%

Hospitals + Hotel (Indonesia)

CACHE

Q3 – Sep11

2.095

$0.950

8.749%

$0.870

30.40%

Industrial

K-REIT

Proforma – FY10

6.72

$0.830

8.096%

$1.190

41.60%

Office

MapletreeLog

Q3 – Sep11

1.69

$0.845

8.000%

$0.850

41.30%

Industrial

Frasers Comm

2H – Sep11

2.893

$0.740

7.819%

$1.340

36.60%

Retail + Office

MapletreeInd

Q2 – Sep11

2.05

$1.075

7.628%

$0.950

39.20%

Industrial

Ascendasreit

Q2 – Sep11

3.38

$1.830

7.388%

$1.738

31.50%

Industrial

CapitaRChina

Q3 – Sep11

2.12

$1.150

7.313%

$1.110

31.40%

Retail (China)

SaizenREIT

2H – Jun11

0.5

$0.140

7.143%

$0.350

24.00%

Residential (Japan)

CDL Htrust

Q3 – Sep11

2.77

$1.545

7.113%

$1.500

26.50%

Hotels

Starhill Gbl

Q3 – Sep11

1

$0.565

7.027%

$0.920

30.10%

Retail + Office

CapitaComm

Q3 – Sep11

1.83

$1.055

6.938%

$1.520

27.40%

Office + Retail + Hotel

Fortune Reit HK$

1H – Jun11

12.8

$3.760

6.809%

$7.520

18.10%

Retail (HK)

FrasersCT

Q4 – Sep11

2.35

$1.440

6.528%

$1.400

31.30%

Retail

MapletreeCom

Q2 – Sep11

1.333

$0.850

6.235%

$0.915

38.50%

Retail + Office

CapitaMall

Q3 – Sep11

2.42

$1.700

5.647%

$1.550

38.40%

Retail + Office

PLife REIT

Q3 – Sep11

2.4

$1.790

5.363%

$1.380

36.60%

Hospitals

NOTES :

  • Mkt Price is as on 30-Dec-11
  • Saizen : No DPU Payout as Semi-Annual Payout Policy
  • LMIR : Q311 DPU = 1.06ct
  • PLife : Annualised DPU = 9.60ct
  • StarHill Global : Annualised DPU = 3.97ct
  • MCT : Annualised DPU = 5.3ct
  • CLT : Annualised DPU = 8.312ct
  • Suntec : Annualised DPU = 10.049ct
  • CDL H-Trust : Annualised DPU = 10.99ct ; No DPU Payout as Semi-Annual Payout Policy
  • FCOT : Q411 DPU = 1.52ct ; Annualised = 6.03ct ; Above Uses 2H11 DPU
  • FirstREIT : Annualised DPU = 6.79ct ; DPU Includes 0.34ct on Gain from Divestment of Asset
  • FCT : DPU = 2.07ct (1-Jul-11 to 22-Sep-11) Already Paid + 0.28ct (23-Sep-11 to 30-Sep-11)
  • MLT : DPU Includes 0.03ct on Gain from Divestment of Assets
  • ART : No DPU Payout as Semi-Annual Payout Policy
  • Sabana : Annualised DPU = 8.49ct
  • CMT : Annualised DPU = 9.60ct
  • K-REIT : Proposed 17-for-20 Rights Issue @ $0.85 (17-Oct-11)
  • K-REIT : Annualised DPU = 7.78ct ; No DPU Payout as Semi-Annual Payout Policy
  • CRCT : Annualised DPU = 8.41ct ; No DPU Payout as Semi-Annual Payout Policy
  • CCT : No DPU Payout as Semi-Annual Payout Policy
  • Cambridge : Annualised DPU = 4.293ct
  • AIMSAMPReit : 92.6% Payout
  • LMIR : Proposed Rights 1-for-1 @ $0.31 ; SGX Annc (3-Oct-11) ; 1H11 Proforma – DPU 1.63ct ; NAV $0.5753 ; TERP $0.458 (Mkt $0.605)
  • AIMSAMPI Reit : 5-to-1 Stocks Consolidation on 29-Sep-11
  • MCT : IPO Forecast DPU = 4.97ct (FY12) ; 5.42ct (FY13) ; Listing on 27-Apr-11 2pm
  • FCOT : 5-to-1 Stocks Consolidation on 8-Feb-11 ; Circular (30-Dec-10) : Proforma FY10 (Sep) – DPU 5.55ct ; NAV $1.38 ; Issued Shares 620,857,225
  • FirstREIT : Proposed Rights 5-for-4 @ $0.50 ; SGX Annc (10-Nov-10) ; FY11 Forecast – DPU 6.4ct ; NAV $0.76 ; Gearing 17.25% ; TERP $0.70 (Mkt $0.95)
  • Sabana : Forecast DPU FY11 = 8.63ct ; FY12 = 8.67ct ; Listed on 26 Nov 10 2pm @ $1.05
  • MIT (IPO) : IPO Forecast – 3.1ct (FY11 – Mar) ; 7.46ct (FY12 – Mar) ; Listing : 21-Oct-10 2pm ; IPO Prospectus
  • AIMSAMPReit : Proposed Rights 7-for-20 @ $0.155 ; SGX Annc (24-Aug-10) ; Proforma Q111 (Mar-10) Impact – DPU 0.52ct ; NAV $0.26 ; Gearing 34.8% ; TERP $0.211
  • StarHill Gbl : Proposed Acquisitions (Cash RM300M + MTN RM330M + CPU RM405M) ; SGX Annc (16-Apr-10) ; Proforma (FY09) Impact – DPU 4.36ct (4.34ct if CPUs converted) / NAV $0.91 ($0.81 if CPUs converted) / Gearing 29%
  • CLT (IPO) : IPO Forecast – 7.65ct (FY10) ; 7.78ct (FY11) ; IPO Close : 8-Apr-10 12pm ; Listing : 12-Apr-10 2pm ; IPO Prospectus
  • FCT : Private Placement 137Mil New Units @ $1.33 ; SGX Annc (27-Jan-10) ; Listing on 4-Feb-10 2pm
  • FCT : Proposed Acquisitions + New Shares Issue ; Circular (7-Jan-10)

  
 

Shipping Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

PacShipTr US$

Q3 – Sep11

0.73

$0.420

7.452%

$0.43

Shipping Trust

FSL Trust

Q3 – Sep 11

0.95

$0.285

17.309%

$0.52

Shipping Trust

Rickmers

Q3 – Sep11

0.6

$0.295

10.562%

$0.880

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2982:US$1 fm Yahoo Finance)
  • PST : Annualised DPU = US3.13ct
  • PST : Proposed Delisting (4-Oct-11) @ US$0.435
  • FSL : 43% Payout
  • PST : 70% Payout
  • Rickmers : 10% Payout (of Cash flow available for distribution before payment to debt capital providers)

   
 

Other Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

CitySpring

Q2 – Sep11

0.82

$0.335

9.791%

$0.288

Infrastructure – Water + Gas + Power

K-Green

FY11 – IPO

7.82

$0.905

8.641%

$1.10

Energy (Incineration) + Water (NEWater)

AscendasIndT

1H – Sep11

3.04

$0.690

8.812%

$0.74

India – Industrial Park

Indiabulls

Q2 – Sep11

—

$0.140

—

$0.488

India – Office

HPH Trust US$

FY11 – IPO

5.9

$0.620

9.516%

HK$7.80

Ports – HK + China

TCT

1H – Jun11

5

$1.440

6.944%

$4.41

China – Retail + Office + Industrial

PerennialCRT

FY11 – IPO

2.37

$0.475

7.811%

$0.67

China Retail

NOTES :

  • CitySpring : Guidance for FY12 DPU = 0.82ct / Quarter (Post 11-for-20 Rights Issue)
  • TCT : No DPU Payout as Semi-Annual Payout Policy
  • Indiabulls : No DPU Declared
  • HPH Trust : DPU Payout = HK14.3ct (16-Mar-11 to 30-Jun-11) ; Above Table Uses IPO Forecast to Compute Yield
  • K-Green : Actual DPU Payout = 3.13ct ; Above Table Uses FY11 IPO Forecast DPU to Calculate Yield
  • CitySpring : Proposed 11-for-20 Rights Issue @ $0.39. TERP = $0.4835 @ $0.535 (Mkt Price) ; Annualised Yield (Profroma 2FY11) = 6.8% @ TERP (Before Rights = 8.4% @ $0.535)
  • PCRT : IPO DPU Forecast – FY11 = 2.37ct ; FY12 = 3.86ct ; Semi-Annual Dividend Payout with 1st Payout for Dec-11 ; Listing on 9-Jun-11 2pm
  • HPH Trust : IPO DPU Forecast – FY11 = US5.9ct (HK45.88ct) ; FY12 = US6.59ct (HK51.24ct)
  • K-Green : DPU – FY10 (6mths) = 3.91ct ; FY11 = 7.82ct ; Circular (31-May-10) ; Listing – 29-Jun-10 9am
  • 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
  • Indiabulls : IPO Forecast – 5.12ct (FY09) 1,325.4Mil Units (2,371.7Mil Units Issued) Entitled to Div ; 9.82ct (FY10)

 

December 30, 2011 Yield Comments Off on December 2011

November 2011

Results Announcement

  • 3 Nov 11 (AM) : PLife (Tables Updated)
  • 3 Nov 11 : LMIR (Table Uses Rights 1H11 Proforma Data)
  • 3 Nov 11 : CitySpring (Table Updated)
  • 9 Nov 11 : Saizen (Tables Updated)
  • 11 Nov 11 : PCRT (Not Updated)
  • 14 Nov 11 : Rickmers (Table Updated)

 

 

REITs : Average Yield = 7.753%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

AIMSAMPI Reit

Q2 – Sep11

2.5

$0.965

10.363%

$1.365

30.00%

Industrial

Sabana REIT

Q3 – Sep11

2.14

$0.875

9.703%

$1.050

23.80%

Industrial

AscottREIT

Q3 – Sep11

2.23

$0.955

9.340%

$1.280

41.10%

Serviced Apts (Regional)

Cambridge

Q3 – Sep11

1.082

$0.470

9.134%

$0.617

33.10%

Industrial

SuntecReit

Q3 – Sep11

2.533

$1.130

8.893%

$1.761

39.86%

Retail + Office

CACHE

Q3 – Sep11

2.095

$0.945

8.796%

$0.870

30.40%

Industrial

First REIT

Q3 – Sep11

1.92

$0.780

8.705%

$0.779

16.40%

Hospitals + Hotel (Indonesia)

LippoMalls

1H11 – Rights

1.63

$0.375

8.693%

$0.575

10.10%

Retail (Indonesia)

MapletreeLog

Q3 – Sep11

1.69

$0.830

8.145%

$0.850

41.30%

Industrial

Fortune Reit HK$

1H – Jun11

12.8

$3.190

8.025%

$7.520

18.10%

Retail (HK)

K-REIT

Proforma – FY10

6.72

$0.865

7.769%

$1.190

41.60%

Office

MapletreeInd

Q2 – Sep11

2.05

$1.065

7.700%

$0.950

39.20%

Industrial

Frasers Comm

2H – Sep11

2.893

$0.770

7.514%

$1.340

36.60%

Retail + Office

CDL Htrust

Q3 – Sep11

2.77

$1.480

7.426%

$1.500

26.50%

Hotels

CapitaRChina

Q3 – Sep11

2.12

$1.170

7.188%

$1.110

31.40%

Retail (China)

SaizenREIT

2H – Jun11

0.5

$0.140

7.143%

$0.350

24.00%

Residential (Japan)

Starhill Gbl

Q3 – Sep11

1

$0.575

6.904%

$0.920

30.10%

Retail + Office

CapitaComm

Q3 – Sep11

1.83

$1.065

6.873%

$1.520

27.40%

Office + Retail + Hotel

Ascendasreit

Q2 – Sep11

3.38

$2.040

6.627%

$1.738

31.50%

Industrial

FrasersCT

Q4 – Sep11

2.35

$1.440

6.528%

$1.400

31.30%

Retail

MapletreeCom

Q2 – Sep11

1.333

$0.875

6.057%

$0.915

38.50%

Retail + Office

CapitaMall

Q3 – Sep11

2.42

$1.745

5.501%

$1.550

38.40%

Retail + Office

PLife REIT

Q3 – Sep11

2.4

$1.815

5.289%

$1.380

36.60%

Hospitals

NOTES :

  • Mkt Price is as on 30-Nov-11
  • Saizen : No DPU Payout as Semi-Annual Payout Policy
  • LMIR : Q311 DPU = 1.06ct
  • PLife : Annualised DPU = 9.60ct
  • StarHill Global : Annualised DPU = 3.97ct
  • MCT : Annualised DPU = 5.3ct
  • CLT : Annualised DPU = 8.312ct
  • Suntec : Annualised DPU = 10.049ct
  • CDL H-Trust : Annualised DPU = 10.99ct ; No DPU Payout as Semi-Annual Payout Policy
  • FCOT : Q411 DPU = 1.52ct ; Annualised = 6.03ct ; Above Uses 2H11 DPU
  • FirstREIT : Annualised DPU = 6.79ct ; DPU Includes 0.34ct on Gain from Divestment of Asset
  • FCT : DPU = 2.07ct (1-Jul-11 to 22-Sep-11) Already Paid + 0.28ct (23-Sep-11 to 30-Sep-11)
  • MLT : DPU Includes 0.03ct on Gain from Divestment of Assets
  • ART : No DPU Payout as Semi-Annual Payout Policy
  • Sabana : Annualised DPU = 8.49ct
  • CMT : Annualised DPU = 9.60ct
  • K-REIT : Proposed 17-for-20 Rights Issue @ $0.85 (17-Oct-11)
  • K-REIT : Annualised DPU = 7.78ct ; No DPU Payout as Semi-Annual Payout Policy
  • CRCT : Annualised DPU = 8.41ct ; No DPU Payout as Semi-Annual Payout Policy
  • CCT : No DPU Payout as Semi-Annual Payout Policy
  • Cambridge : Annualised DPU = 4.293ct
  • AIMSAMPReit : 92.6% Payout
  • LMIR : Proposed Rights 1-for-1 @ $0.31 ; SGX Annc (3-Oct-11) ; 1H11 Proforma – DPU 1.63ct ; NAV $0.5753 ; TERP $0.458 (Mkt $0.605)
  • AIMSAMPI Reit : 5-to-1 Stocks Consolidation on 29-Sep-11
  • MCT : IPO Forecast DPU = 4.97ct (FY12) ; 5.42ct (FY13) ; Listing on 27-Apr-11 2pm
  • FCOT : 5-to-1 Stocks Consolidation on 8-Feb-11 ; Circular (30-Dec-10) : Proforma FY10 (Sep) – DPU 5.55ct ; NAV $1.38 ; Issued Shares 620,857,225
  • FirstREIT : Proposed Rights 5-for-4 @ $0.50 ; SGX Annc (10-Nov-10) ; FY11 Forecast – DPU 6.4ct ; NAV $0.76 ; Gearing 17.25% ; TERP $0.70 (Mkt $0.95)
  • Sabana : Forecast DPU FY11 = 8.63ct ; FY12 = 8.67ct ; Listed on 26 Nov 10 2pm @ $1.05
  • MIT (IPO) : IPO Forecast – 3.1ct (FY11 – Mar) ; 7.46ct (FY12 – Mar) ; Listing : 21-Oct-10 2pm ; IPO Prospectus
  • AIMSAMPReit : Proposed Rights 7-for-20 @ $0.155 ; SGX Annc (24-Aug-10) ; Proforma Q111 (Mar-10) Impact – DPU 0.52ct ; NAV $0.26 ; Gearing 34.8% ; TERP $0.211
  • StarHill Gbl : Proposed Acquisitions (Cash RM300M + MTN RM330M + CPU RM405M) ; SGX Annc (16-Apr-10) ; Proforma (FY09) Impact – DPU 4.36ct (4.34ct if CPUs converted) / NAV $0.91 ($0.81 if CPUs converted) / Gearing 29%
  • CLT (IPO) : IPO Forecast – 7.65ct (FY10) ; 7.78ct (FY11) ; IPO Close : 8-Apr-10 12pm ; Listing : 12-Apr-10 2pm ; IPO Prospectus
  • FCT : Private Placement 137Mil New Units @ $1.33 ; SGX Annc (27-Jan-10) ; Listing on 4-Feb-10 2pm
  • FCT : Proposed Acquisitions + New Shares Issue ; Circular (7-Jan-10)

  
 

Shipping Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

PacShipTr US$

Q3 – Sep11

0.73

$0.420

7.452%

$0.43

Shipping Trust

FSL Trust

Q3 – Sep 11

0.95

$0.290

16.994%

$0.52

Shipping Trust

Rickmers

Q3 – Sep11

0.6

$0.310

10.041%

$0.880

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2969:US$1 fm Yahoo Finance)
  • PST : Annualised DPU = US3.13ct
  • PST : Proposed Delisting (4-Oct-11) @ US$0.435
  • FSL : 43% Payout
  • PST : 70% Payout
  • Rickmers : 10% Payout (of Cash flow available for distribution before payment to debt capital providers)

   
 

Other Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

CitySpring

Q2 – Sep11

0.82

$0.335

9.791%

$0.288

Infrastructure – Water + Gas + Power

K-Green

FY11 – IPO

7.82

$0.890

8.787%

$1.10

Energy (Incineration) + Water (NEWater)

AscendasIndT

1H – Sep11

3.04

$0.675

9.007%

$0.74

India – Industrial Park

Indiabulls

Q2 – Sep11

—

$0.160

—

$0.488

India – Office

HPH Trust US$

FY11 – IPO

5.9

$0.590

10.000%

HK$7.80

Ports – HK + China

TCT

1H – Jun11

5

$1.600

6.250%

$4.41

China – Retail + Office + Industrial

PerennialCRT

FY11 – IPO

2.37

$0.510

7.275%

$0.67

China Retail

NOTES :

  • CitySpring : Guidance for FY12 DPU = 0.82ct / Quarter (Post 11-for-20 Rights Issue)
  • TCT : No DPU Payout as Semi-Annual Payout Policy
  • Indiabulls : No DPU Declared
  • HPH Trust : DPU Payout = HK14.3ct (16-Mar-11 to 30-Jun-11) ; Above Table Uses IPO Forecast to Compute Yield
  • K-Green : Actual DPU Payout = 3.13ct ; Above Table Uses FY11 IPO Forecast DPU to Calculate Yield
  • CitySpring : Proposed 11-for-20 Rights Issue @ $0.39. TERP = $0.4835 @ $0.535 (Mkt Price) ; Annualised Yield (Profroma 2FY11) = 6.8% @ TERP (Before Rights = 8.4% @ $0.535)
  • PCRT : IPO DPU Forecast – FY11 = 2.37ct ; FY12 = 3.86ct ; Semi-Annual Dividend Payout with 1st Payout for Dec-11 ; Listing on 9-Jun-11 2pm
  • HPH Trust : IPO DPU Forecast – FY11 = US5.9ct (HK45.88ct) ; FY12 = US6.59ct (HK51.24ct)
  • K-Green : DPU – FY10 (6mths) = 3.91ct ; FY11 = 7.82ct ; Circular (31-May-10) ; Listing – 29-Jun-10 9am
  • 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
  • Indiabulls : IPO Forecast – 5.12ct (FY09) 1,325.4Mil Units (2,371.7Mil Units Issued) Entitled to Div ; 9.82ct (FY10)

 

November 30, 2011 Yield Comments Off on November 2011

October 2011

Results Announcement

  • 6 Oct 11 : AIMSAMPIReit (Tables Updated)
  • 12 Oct 11 : Cambridge (Tables Updated)
  • 13 Oct 11 (AM) : CCT (Tables Updated)
  • 14 Oct 11 : CRCT (Tables Updated)
  • 17 Oct 11 : A-REIT (Tables Updated)
  • 17 Oct 11 : K-REIT (Tables Updated)
  • 17 Oct 11 : KGT (Table Updated)
  • 18 Oct 11 (AM) : CMT (Tables Updated)
  • 19 Oct 11 : Sabana (Tables Updated)
  • 19 Oct 11 : PST (Table Updated)
  • 20 Oct 11 : ART (Tables Updated)
  • 20 Oct 11 : FSL (Table Updated)
  • 20 Oct 11 : MLT (Tables Updated)
  • 21 Oct 11 (AM) : FCT (Tables Updated)
  • 21 Oct 11 (AM) : IndiaBulls (Table Updated)
  • 21 Oct 11 : FirstREIT (Tables Updated)
  • 24 Oct 11 : FCOT (Tables Updated)
  • 25 Oct 11 (AM) : CDL H-Trust (Tables Updated)
  • 25 Oct 11 : MIT (Tables Updated)
  • 25 Oct 11 : Suntec (Tables Updated)
  • 27 Oct 11 : MCT (Tables Updated)
  • 27 Oct 11 : CLT (Tables Updated)
  • 28 Oct 11 (AM) : StarHill Global (Tables Updated)
  • 28 Oct 11 : a-iTrust (Table Updated)
  • 31 Oct 11 (AM) : TCT (Table Updated)
  • 3 Nov 11 (AM) : PLife
  • 3 Nov 11 : LMIR
  • 3 Nov 11 : CitySpring
  • 11 Nov 11 : PCRT

 

 

REITs : Average Yield = 7.450%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

AIMSAMPI Reit

Q2 – Sep11

2.5

$0.990

10.101%

$1.365

30.00%

Industrial

Sabana REIT

Q3 – Sep11

2.14

$0.890

9.539%

$1.050

23.80%

Industrial

Cambridge

Q3 – Sep11

1.082

$0.465

9.232%

$0.617

33.10%

Industrial

First REIT

Q3 – Sep11

1.92

$0.795

8.541%

$0.779

16.40%

Hospitals + Hotel (Indonesia)

AscottREIT

Q3 – Sep11

2.23

$1.050

8.495%

$1.280

41.10%

Serviced Apts (Regional)

CACHE

Q3 – Sep11

2.095

$0.985

8.439%

$0.870

30.40%

Industrial

LippoMalls

Q2 – Jun11

1.09

$0.520

8.385%

$0.846

10.20%

Retail (Indonesia)

SuntecReit

Q3 – Sep11

2.533

$1.240

8.104%

$1.761

39.86%

Retail + Office

MapletreeLog

Q3 – Sep11

1.69

$0.855

7.906%

$0.850

41.30%

Industrial

K-REIT

Q3 – Sep11

1.96

$0.985

7.898%

$1.440

39.80%

Office

Frasers Comm

2H – Sep11

2.893

$0.790

7.324%

$1.340

36.60%

Retail + Office

CapitaRChina

Q3 – Sep11

2.12

$1.175

7.157%

$1.110

31.40%

Retail (China)

Fortune Reit HK$

1H – Jun11

12.8

$3.620

7.072%

$7.520

18.10%

Retail (HK)

MapletreeInd

Q2 – Sep11

2.05

$1.160

7.069%

$0.950

39.20%

Industrial

SaizenREIT

2H – Jun11

0.5

$0.147

6.803%

$0.320

24.00%

Residential (Japan)

CDL Htrust

Q3 – Sep11

2.77

$1.630

6.742%

$1.500

26.50%

Hotels

Starhill Gbl

Q3 – Sep11

1

$0.600

6.617%

$0.920

30.10%

Retail + Office

Ascendasreit

Q2 – Sep11

3.38

$2.050

6.595%

$1.738

31.50%

Industrial

CapitaComm

Q3 – Sep11

1.83

$1.130

6.478%

$1.520

27.40%

Office + Retail + Hotel

FrasersCT

Q4 – Sep11

2.35

$1.480

6.351%

$1.400

31.30%

Retail

MapletreeCom

Q2 – Sep11

1.333

$0.870

6.092%

$0.915

38.50%

Retail + Office

PLife REIT

Q2 – Jun11

2.37

$1.795

5.281%

$1.390

34.30%

Hospitals

CapitaMall

Q3 – Sep11

2.42

$1.875

5.120%

$1.550

38.40%

Retail + Office

NOTES :

  • Mkt Price is as on 31-Oct-11
  • StarHill Global : Annualised DPU = 3.97ct
  • MCT : Annualised DPU = 5.3ct
  • CLT : Annualised DPU = 8.312ct
  • Suntec : Annualised DPU = 10.049ct
  • CDL H-Trust : Annualised DPU = 10.99ct ; No DPU Payout as Semi-Annual Payout Policy
  • FCOT : Q411 DPU = 1.52ct ; Annualised = 6.03ct ; Above Uses 2H11 DPU
  • FirstREIT : Annualised DPU = 6.79ct ; DPU Includes 0.34ct on Gain from Divestment of Asset
  • FCT : DPU = 2.07ct (1-Jul-11 to 22-Sep-11) Already Paid + 0.28ct (23-Sep-11 to 30-Sep-11)
  • MLT : DPU Includes 0.03ct on Gain from Divestment of Assets
  • ART : No DPU Payout as Semi-Annual Payout Policy
  • Sabana : Annualised DPU = 8.49ct
  • CMT : Annualised DPU = 9.60ct
  • K-REIT : Proposed 17-for-20 Rights Issue @ $0.85 (17-Oct-11)
  • K-REIT : Annualised DPU = 7.78ct ; No DPU Payout as Semi-Annual Payout Policy
  • CRCT : Annualised DPU = 8.41ct ; No DPU Payout as Semi-Annual Payout Policy
  • CCT : No DPU Payout as Semi-Annual Payout Policy
  • Cambridge : Annualised DPU = 4.293ct
  • AIMSAMPReit : 92.6% Payout
  • LMIR : Proposed Rights 1-for-1 @ $0.31 ; SGX Annc (3-Oct-11) ; 1H11 Proforma – DPU 1.63ct ; NAV $0.5753 ; TERP $0.458 (Mkt $0.605)
  • AIMSAMPI Reit : 5-to-1 Stocks Consolidation on 29-Sep-11
  • PLife : Annualised DPU = 9.48ct
  • MCT : IPO Forecast DPU = 4.97ct (FY12) ; 5.42ct (FY13) ; Listing on 27-Apr-11 2pm
  • FCOT : 5-to-1 Stocks Consolidation on 8-Feb-11 ; Circular (30-Dec-10) : Proforma FY10 (Sep) – DPU 5.55ct ; NAV $1.38 ; Issued Shares 620,857,225
  • FirstREIT : Proposed Rights 5-for-4 @ $0.50 ; SGX Annc (10-Nov-10) ; FY11 Forecast – DPU 6.4ct ; NAV $0.76 ; Gearing 17.25% ; TERP $0.70 (Mkt $0.95)
  • Sabana : Forecast DPU FY11 = 8.63ct ; FY12 = 8.67ct ; Listed on 26 Nov 10 2pm @ $1.05
  • MIT (IPO) : IPO Forecast – 3.1ct (FY11 – Mar) ; 7.46ct (FY12 – Mar) ; Listing : 21-Oct-10 2pm ; IPO Prospectus
  • AIMSAMPReit : Proposed Rights 7-for-20 @ $0.155 ; SGX Annc (24-Aug-10) ; Proforma Q111 (Mar-10) Impact – DPU 0.52ct ; NAV $0.26 ; Gearing 34.8% ; TERP $0.211
  • StarHill Gbl : Proposed Acquisitions (Cash RM300M + MTN RM330M + CPU RM405M) ; SGX Annc (16-Apr-10) ; Proforma (FY09) Impact – DPU 4.36ct (4.34ct if CPUs converted) / NAV $0.91 ($0.81 if CPUs converted) / Gearing 29%
  • CLT (IPO) : IPO Forecast – 7.65ct (FY10) ; 7.78ct (FY11) ; IPO Close : 8-Apr-10 12pm ; Listing : 12-Apr-10 2pm ; IPO Prospectus
  • FCT : Private Placement 137Mil New Units @ $1.33 ; SGX Annc (27-Jan-10) ; Listing on 4-Feb-10 2pm
  • FCT : Proposed Acquisitions + New Shares Issue ; Circular (7-Jan-10)

  
 

Shipping Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

PacShipTr US$

Q3 – Sep11

0.73

$0.420

7.452%

$0.43

Shipping Trust

FSL Trust

Q3 – Sep 11

0.95

$0.305

15.568%

$0.52

Shipping Trust

Rickmers

Q2 – Jun11

0.6

$0.330

9.087%

$0.87

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2495:US$1 fm Yahoo Finance)
  • PST : Annualised DPU = US3.13ct
  • PST : Proposed Delisting (4-Oct-11) @ US$0.435
  • FSL : 43% Payout
  • PST : 70% Payout
  • Rickmers : 10% Payout (of Cash flow available for distribution before payment to debt capital providers)

   
 

Other Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

CitySpring

FY11 – Rights (Proforma)

3.28

$0.375

8.747%

$0.328

Infrastructure – Water + Gas + Power

K-Green

FY11 – IPO

7.82

$0.895

8.737%

$1.10

Energy (Incineration) + Water (NEWater)

AscendasIndT

1H – Sep11

3.04

$0.840

7.238%

$0.74

India – Industrial Park

Indiabulls

Q2 – Sep11

—

$0.175

—

$0.488

India – Office

HPH Trust US$

FY11 – IPO

5.9

$0.670

8.806%

HK$7.80

Ports – HK + China

TCT

1H – Jun11

5

$1.710

5.848%

$4.41

China – Retail + Office + Industrial

PerennialCRT

FY11 – IPO

2.37

$0.465

7.978%

$0.67

China Retail

NOTES :

  • TCT : No DPU Payout as Semi-Annual Payout Policy
  • Indiabulls : No DPU Declared
  • HPH Trust : DPU Payout = HK14.3ct (16-Mar-11 to 30-Jun-11) ; Above Table Uses IPO Forecast to Compute Yield
  • K-Green : Actual DPU Payout = 3.13ct ; Above Table Uses FY11 IPO Forecast DPU to Calculate Yield
  • CitySpring : Proposed 11-for-20 Rights Issue @ $0.39. TERP = $0.4835 @ $0.535 (Mkt Price) ; Annualised Yield (Profroma 2FY11) = 6.8% @ TERP (Before Rights = 8.4% @ $0.535)
  • PCRT : IPO DPU Forecast – FY11 = 2.37ct ; FY12 = 3.86ct ; Semi-Annual Dividend Payout with 1st Payout for Dec-11 ; Listing on 9-Jun-11 2pm
  • CitySpring : Guidance for FY12 DPU = 4.2ct
  • HPH Trust : IPO DPU Forecast – FY11 = US5.9ct (HK45.88ct) ; FY12 = US6.59ct (HK51.24ct)
  • K-Green : DPU – FY10 (6mths) = 3.91ct ; FY11 = 7.82ct ; Circular (31-May-10) ; Listing – 29-Jun-10 9am
  • 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
  • Indiabulls : IPO Forecast – 5.12ct (FY09) 1,325.4Mil Units (2,371.7Mil Units Issued) Entitled to Div ; 9.82ct (FY10)
October 31, 2011 Yield Comments Off on October 2011

September 2011

 

 

REITs : Average Yield = 7.583%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

AIMSAMPI Reit

Q1 – Jun11

2.65

$0.995

10.653%

$1.340

30.40%

Industrial

Sabana REIT

Q2 – Jun11

2.18

$0.860

10.163%

$0.980

25.10%

Industrial

Cambridge

Q2 – Jun11

1.036

$0.460

9.033%

$0.620

32.70%

Industrial

AscottREIT

1H – Jun11

4.466

$1.010

8.844%

$1.330

40.10%

Serviced Apts (Regional)

SuntecReit

Q2 – Jun11

2.532

$1.150

8.831%

$1.759

38.50%

Retail + Office

CACHE

Q2 – Jun11

2.086

$0.960

8.716%

$0.880

29.10%

Industrial

First REIT

Q2 – Jun11

1.58

$0.760

8.382%

$0.781

13.80%

Hospitals + Hotel (Indonesia)

LippoMalls

Q2 – Jun11

1.09

$0.540

8.074%

$0.846

10.20%

Retail (Indonesia)

Fortune Reit HK$

1H – Jun11

12.8

$3.390

7.552%

$7.520

18.10%

Retail (HK)

MapletreeLog

Q2 – Jun11

1.6

$0.850

7.529%

$0.830

39.40%

Industrial

CapitaComm

1H – Jun11

3.77

$1.010

7.465%

$1.520

26.90%

Office

K-REIT

1H – Jun11

3.72

$1.005

7.463%

$1.470

39.20%

Office

CapitaRChina

1H – Jun11

4.3

$1.165

7.442%

$1.140

29.70%

Retail (China)

MapletreeInd

Q1 – Jun11

1.98

$1.085

7.300%

$0.950

36.00%

Industrial

Starhill Gbl

Q2 – Jun11

1.04

$0.580

7.190%

$0.930

30.20%

Retail + Office

CDL Htrust

1H – Jun11

5.34

$1.510

7.132%

$1.530

26.30%

Hotels

Frasers Comm

Q3 – Jun11

1.38

$0.800

6.925%

$1.330

37.10%

Retail + Office

SaizenREIT

2H – Jun11

0.5

$0.149

6.711%

$0.320

24.00%

Residential (Japan)

MapletreeCom

Q1 – Jun11

0.9564

$0.815

6.589%

$0.915

38.60%

Retail + Office

Ascendasreit

Q1 – Jun11

3.2

$2.030

6.305%

$1.738

28.70%

Industrial

FrasersCT

Q3 – Jun11

1.95

$1.440

5.750%

$1.280

31.70%

Retail

PLife REIT

Q2 – Jun11

2.37

$1.830

5.180%

$1.390

34.30%

Hospitals

CapitaMall

Q2 – Jun11

2.36

$1.830

5.175%

$1.550

38.20%

Retail + Office

NOTES :

  • Mkt Price is as on 30-Sep-11
  • AIMSAMPI Reit : 5-to-1 Stocks Consolidation on 29-Sep-11
  • PLife : Annualised DPU = 9.48ct
  • FCOT : Annualised DPU = 5.54ct ; No DPU Payout as Semi-Annual Payout Policy
  • Sabana : Annualised DPU = 8.74ct
  • CLT : Annualised DPU = 8.367ct
  • MCT : Annualised DPU = 5.37ct ; Actual DPU for the Period 27-Apr-11 to 30-Jun-11
  • CDL H-Trust : Annualised DPU = 10.77ct
  • AIMSAMPReit : 96.8% Payout
  • StarHill Global : Annualised DPU = 4.17ct
  • FirstREIT : Annualised DPU = 6.37ct
  • Suntec : Annualised DPU = 10.156ct
  • Cambridge : Annualised DPU = 4.155ct
  • CMT : Annualised DPU = 9.47ct
  • A-REIT : Actual DPU Payout = 2.81ct (11-Apr-11 to 30-Jun-11) ; DPU = 0.39ct (1-Apr-11 to 10-Apr-11) Paid on 9-May-11
  • K-REIT : Annualised DPU = 7.5ct
  • CRCT : Actual DPU Payout = 4.28ct (1-Jan-11 to 29-Jun-11)
  • MCT : IPO Forecast DPU = 4.97ct (FY12) ; 5.42ct (FY13) ; Listing on 27-Apr-11 2pm
  • FCT : Retained $318k Distributable Income for Q211 (Mar)
  • FCOT : 5-to-1 Stocks Consolidation on 8-Feb-11 ; Circular (30-Dec-10) : Proforma FY10 (Sep) – DPU 5.55ct ; NAV $1.38 ; Issued Shares 620,857,225
  • FirstREIT : Proposed Rights 5-for-4 @ $0.50 ; SGX Annc (10-Nov-10) ; FY11 Forecast – DPU 6.4ct ; NAV $0.76 ; Gearing 17.25% ; TERP $0.70 (Mkt $0.95)
  • Sabana : Forecast DPU FY11 = 8.63ct ; FY12 = 8.67ct ; Listed on 26 Nov 10 2pm @ $1.05
  • MIT (IPO) : IPO Forecast – 3.1ct (FY11 – Mar) ; 7.46ct (FY12 – Mar) ; Listing : 21-Oct-10 2pm ; IPO Prospectus
  • AIMSAMPReit : Proposed Rights 7-for-20 @ $0.155 ; SGX Annc (24-Aug-10) ; Proforma Q111 (Mar-10) Impact – DPU 0.52ct ; NAV $0.26 ; Gearing 34.8% ; TERP $0.211
  • StarHill Gbl : Proposed Acquisitions (Cash RM300M + MTN RM330M + CPU RM405M) ; SGX Annc (16-Apr-10) ; Proforma (FY09) Impact – DPU 4.36ct (4.34ct if CPUs converted) / NAV $0.91 ($0.81 if CPUs converted) / Gearing 29%
  • CLT (IPO) : IPO Forecast – 7.65ct (FY10) ; 7.78ct (FY11) ; IPO Close : 8-Apr-10 12pm ; Listing : 12-Apr-10 2pm ; IPO Prospectus
  • FCT : Private Placement 137Mil New Units @ $1.33 ; SGX Annc (27-Jan-10) ; Listing on 4-Feb-10 2pm
  • FCT : Proposed Acquisitions + New Shares Issue ; Circular (7-Jan-10)

  
 

Shipping Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

PacShipTr US$

Q2 – Jun11

0.809

$0.375

8.629%

$0.42

Shipping Trust

FSL Trust

Q2 – Jun11

0.95

$0.280

17.621%

$0.53

Shipping Trust

Rickmers

Q2 – Jun11

0.6

$0.315

9.893%

$0.87

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2984:US$1 fm Yahoo Finance)
  • FSL : 43% Payout
  • PST : 70% Payout
  • Rickmers : 10% Payout (of Cash flow available for distribution before payment to debt capital providers)

   
 

Other Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

CitySpring

FY11 – Rights (Proforma)

3.28

$0.390

8.410%

$0.328

Infrastructure – Water + Gas + Power

K-Green

FY11 – IPO

7.82

$0.895

8.737%

$1.09

Energy (Incineration) + Water (NEWater)

AscendasIndT

Q1 – Jun11

1.5

$0.770

7.792%

$0.76

India – Industrial Park

Indiabulls

Q4 – Mar11

—

$0.120

—

$0.52

India – Office

HPH Trust US$

FY11 – IPO

5.9

$0.675

8.741%

HK$7.80

Ports – HK + China

TCT

1H – Jun11

5

$1.650

6.061%

$4.17

China – Retail + Office + Industrial

PerennialCRT

FY11 – IPO

2.37

$0.455

8.154%

$0.67

China Retail

NOTES :

  • HPH Trust : DPU Payout = HK14.3ct (16-Mar-11 to 30-Jun-11) ; Above Table Uses IPO Forecast to Compute Yield
  • a-iTrust : No DPU Payout as Semi-Annual Payout Policy
  • K-Green : Actual DPU Payout = 3.13ct ; Above Table Uses FY11 IPO Forecast DPU to Calculate Yield
  • CitySpring : Proposed 11-for-20 Rights Issue @ $0.39. TERP = $0.4835 @ $0.535 (Mkt Price) ; Annualised Yield (Profroma 2FY11) = 6.8% @ TERP (Before Rights = 8.4% @ $0.535)
  • PCRT : IPO DPU Forecast – FY11 = 2.37ct ; FY12 = 3.86ct ; Semi-Annual Dividend Payout with 1st Payout for Dec-11 ; Listing on 9-Jun-11 2pm
  • CitySpring : Guidance for FY12 DPU = 4.2ct
  • Indiabulls : No DPU Declared
  • HPH Trust : IPO DPU Forecast – FY11 = US5.9ct (HK45.88ct) ; FY12 = US6.59ct (HK51.24ct)
  • K-Green : DPU – FY10 (6mths) = 3.91ct ; FY11 = 7.82ct ; Circular (31-May-10) ; Listing – 29-Jun-10 9am
  • 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
  • Indiabulls : IPO Forecast – 5.12ct (FY09) 1,325.4Mil Units (2,371.7Mil Units Issued) Entitled to Div ; 9.82ct (FY10)

 

 

 

September 30, 2011 Yield Comments Off on September 2011

August 2011

Results Announcement

  • 1 Aug 11 : CitySpring (Table Updated)
  • 3 Aug 11 : HPH Trust (Table Updated)
  • 4 Aug 11 (AM) : PLife (Tables Updated)
  • 4 Aug 11 : LMIR (Tables Updated)
  • 23 Aug 11 : Saizen (Tables Updated)

 

 

 

 

REITs : Average Yield = 7.100%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

AIMSAMPIReit

Q1 – Jun11

0.53

$0.205

10.341%

$0.268

30.40%

Industrial

Sabana REIT

Q2 – Jun11

2.18

$0.900

9.711%

$0.980

25.10%

Industrial

CACHE

Q2 – Jun11

2.086

$0.965

8.670%

$0.880

29.10%

Industrial

Cambridge

Q2 – Jun11

1.036

$0.480

8.656%

$0.620

32.70%

Industrial

First REIT

Q2 – Jun11

1.58

$0.785

8.115%

$0.781

13.80%

Hospitals + Hotel (Indonesia)

AscottREIT

1H – Jun11

4.466

$1.115

8.011%

$1.330

40.10%

Serviced Apts (Regional)

SuntecReit

Q2 – Jun11

2.532

$1.350

7.523%

$1.759

38.50%

Retail + Office

LippoMapleT

Q2 – Jun11

1.09

$0.585

7.453%

$0.846

10.20%

Retail (Indonesia)

MapletreeLog

Q2 – Jun11

1.6

$0.890

7.191%

$0.830

39.40%

Industrial

CapitaRChina

1H – Jun11

4.3

$1.220

7.107%

$1.140

29.70%

Retail (China)

Fortune Reit HK$

1H – Jun11

12.8

$3.780

6.772%

$7.520

18.10%

Retail (HK)

Starhill Gbl

Q2 – Jun11

1.04

$0.620

6.726%

$0.930

30.20%

Retail + Office

MapletreeInd

Q1 – Jun11

1.98

$1.180

6.712%

$0.950

36.00%

Industrial

SaizenREIT

2H – Jun11

0.5

$0.150

6.667%

$0.320

24.00%

Residential (Japan)

Frasers Comm

Q3 – Jun11

1.38

$0.840

6.595%

$1.330

37.10%

Retail + Office

K-REIT

1H – Jun11

3.72

$1.155

6.494%

$1.470

39.20%

Office

MapletreeCom

Q1 – Jun11

0.9564

$0.840

6.393%

$0.915

38.60%

Retail + Office

CapitaComm

1H – Jun11

3.77

$1.195

6.310%

$1.520

26.90%

Office

Ascendasreit

Q1 – Jun11

3.2

$2.120

6.038%

$1.738

28.70%

Industrial

CDL Htrust

1H – Jun11

5.34

$1.815

5.934%

$1.530

26.30%

Hotels

FrasersCT

Q3 – Jun11

1.95

$1.430

5.790%

$1.280

31.70%

Retail

CapitaMall

Q2 – Jun11

2.36

$1.870

5.064%

$1.550

38.20%

Retail + Office

PLife REIT

Q2 – Jun11

2.37

$1.885

5.029%

$1.390

34.30%

Hospitals

NOTES :

  • Mkt Price is as on 31-Aug-11
  • PLife : Annualised DPU = 9.48ct
  • FCOT : Annualised DPU = 5.54ct ; No DPU Payout as Semi-Annual Payout Policy
  • Sabana : Annualised DPU = 8.74ct
  • CLT : Annualised DPU = 8.367ct
  • MCT : Annualised DPU = 5.37ct ; Actual DPU for the Period 27-Apr-11 to 30-Jun-11
  • CDL H-Trust : Annualised DPU = 10.77ct
  • AIMSAMPReit : 96.8% Payout
  • StarHill Global : Annualised DPU = 4.17ct
  • FirstREIT : Annualised DPU = 6.37ct
  • Suntec : Annualised DPU = 10.156ct
  • Cambridge : Annualised DPU = 4.155ct
  • CMT : Annualised DPU = 9.47ct
  • A-REIT : Actual DPU Payout = 2.81ct (11-Apr-11 to 30-Jun-11) ; DPU = 0.39ct (1-Apr-11 to 10-Apr-11) Paid on 9-May-11
  • K-REIT : Annualised DPU = 7.5ct
  • CRCT : Actual DPU Payout = 4.28ct (1-Jan-11 to 29-Jun-11)
  • MCT : IPO Forecast DPU = 4.97ct (FY12) ; 5.42ct (FY13) ; Listing on 27-Apr-11 2pm
  • FCT : Retained $318k Distributable Income for Q211 (Mar)
  • FCOT : 5-to-1 Stocks Consolidation on 8-Feb-11 ; Circular (30-Dec-10) : Proforma FY10 (Sep) – DPU 5.55ct ; NAV $1.38 ; Issued Shares 620,857,225
  • FirstREIT : Proposed Rights 5-for-4 @ $0.50 ; SGX Annc (10-Nov-10) ; FY11 Forecast – DPU 6.4ct ; NAV $0.76 ; Gearing 17.25% ; TERP $0.70 (Mkt $0.95)
  • Sabana : Forecast DPU FY11 = 8.63ct ; FY12 = 8.67ct ; Listed on 26 Nov 10 2pm @ $1.05
  • MIT (IPO) : IPO Forecast – 3.1ct (FY11 – Mar) ; 7.46ct (FY12 – Mar) ; Listing : 21-Oct-10 2pm ; IPO Prospectus
  • AIMSAMPReit : Proposed Rights 7-for-20 @ $0.155 ; SGX Annc (24-Aug-10) ; Proforma Q111 (Mar-10) Impact – DPU 0.52ct ; NAV $0.26 ; Gearing 34.8% ; TERP $0.211
  • StarHill Gbl : Proposed Acquisitions (Cash RM300M + MTN RM330M + CPU RM405M) ; SGX Annc (16-Apr-10) ; Proforma (FY09) Impact – DPU 4.36ct (4.34ct if CPUs converted) / NAV $0.91 ($0.81 if CPUs converted) / Gearing 29%
  • CLT (IPO) : IPO Forecast – 7.65ct (FY10) ; 7.78ct (FY11) ; IPO Close : 8-Apr-10 12pm ; Listing : 12-Apr-10 2pm ; IPO Prospectus
  • FCT : Private Placement 137Mil New Units @ $1.33 ; SGX Annc (27-Jan-10) ; Listing on 4-Feb-10 2pm
  • FCT : Proposed Acquisitions + New Shares Issue ; Circular (7-Jan-10)

  
 

Shipping Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

PacShipTr US$

Q2 – Jun11

0.809

$0.345

9.380%

$0.42

Shipping Trust

FSL Trust

Q2 – Jun11

0.95

$0.285

16.033%

$0.53

Shipping Trust

Rickmers

Q2 – Jun11

0.6

$0.350

8.246%

$0.87

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2025:US$1 fm Yahoo Finance)
  • FSL : 43% Payout
  • PST : 70% Payout
  • Rickmers : 10% Payout (of Cash flow available for distribution before payment to debt capital providers)

   
 

Other Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

CitySpring

FY11 – Rights (Proforma)

3.28

$0.395

8.304%

$0.328

Infrastructure – Water + Gas + Power

K-Green

FY11 – IPO

7.82

$0.950

8.232%

$1.09

Energy (Incineration) + Water (NEWater)

AscendasIndT

Q1 – Jun11

1.5

$0.900

6.667%

$0.76

India – Industrial Park

Indiabulls

Q4 – Mar11

—

$0.175

—

$0.52

India – Office

HPH Trust US$

FY11 – IPO

5.9

$0.690

8.551%

HK$7.80

Ports – HK + China

TCT

1H – Jun11

5

$1.840

5.435%

$4.17

China – Retail + Office + Industrial

PerennialCRT

FY11 – IPO

2.37

$0.515

7.204%

$0.67

China Retail

NOTES :

  • HPH Trust : DPU Payout = HK14.3ct (16-Mar-11 to 30-Jun-11) ; Above Table Uses IPO Forecast to Compute Yield
  • a-iTrust : No DPU Payout as Semi-Annual Payout Policy
  • K-Green : Actual DPU Payout = 3.13ct ; Above Table Uses FY11 IPO Forecast DPU to Calculate Yield
  • CitySpring : Proposed 11-for-20 Rights Issue @ $0.39. TERP = $0.4835 @ $0.535 (Mkt Price) ; Annualised Yield (Profroma 2FY11) = 6.8% @ TERP (Before Rights = 8.4% @ $0.535)
  • PCRT : IPO DPU Forecast – FY11 = 2.37ct ; FY12 = 3.86ct ; Semi-Annual Dividend Payout with 1st Payout for Dec-11 ; Listing on 9-Jun-11 2pm
  • CitySpring : Guidance for FY12 DPU = 4.2ct
  • Indiabulls : No DPU Declared
  • HPH Trust : IPO DPU Forecast – FY11 = US5.9ct (HK45.88ct) ; FY12 = US6.59ct (HK51.24ct)
  • K-Green : DPU – FY10 (6mths) = 3.91ct ; FY11 = 7.82ct ; Circular (31-May-10) ; Listing – 29-Jun-10 9am
  • 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
  • Indiabulls : IPO Forecast – 5.12ct (FY09) 1,325.4Mil Units (2,371.7Mil Units Issued) Entitled to Div ; 9.82ct (FY10)

 

 

August 31, 2011 Yield Comments Off on August 2011