Category: Yield

 

July 2011

Results Announcement

  • 14 Jul 11 (AM) : CCT (Tables Updated)
  • 15 Jul 11 (AM) : CRCT (Tables Updated)
  • 18 Jul 11 : K-REIT (Tables Updated)
  • 18 Jul 11 : KGT (Table Updated)
  • 18 Jul 11 : A-REIT (Tables Updated)
  • 19 Jul 11 (AM) : CMT (Tables Updated)
  • 19 Jul 11 : Cambridge (Tables Updated)
  • 20 Jul 11 : PST (Table Updated)
  • 20 Jul 11 : FSL (Table Updated)
  • 21 Jul 11 : Suntec (Tables Updated)
  • 21 Jul 11 : MLT (Tables Updated)
  • 22 Jul 11 (AM) : FirstREIT (Tables Updated)
  • 22 Jul 11 (AM) : ART (Tables Updated)
  • 22 Jul 11 : Fortune (Tables Updated)
  • 25 Jul 11 : Starhill Global (Tables Updated)
  • 25 Jul 11 : Rickmers (Table Updated)
  • 26 Jul 11 (AM) : FCT (Tables Updated)
  • 26 Jul 11 (AM) : TCT (Table Updated)
  • 26 Jul 11 : MIT (Tables Updated)
  • 26 Jul 11 : AIMSAMPReit (Tables Updated)
  • 27 Jul 11 : CDL H-Trust (Tables Updated)
  • 27 Jul 11 : CLT (Tables Updated)
  • 27 Jul 11 : MCT (Tables Updated)
  • 27 Jul 11 : Sabana (Tables Updated)
  • 28 Jul 11 : a-iTrust (Table Updated)
  • 29 Jul 11 : FCOT (Tables Updated)
  • 4 Aug 11 (AM) : PLife

 

 

 

REITs : Average Yield = 6.705%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

AIMSAMPIReit

Q1 – Jun11

0.53

$0.225

9.422%

$0.268

30.40%

Industrial

Sabana REIT

Q2 – Jun11

2.18

$0.955

9.152%

$0.980

25.10%

Industrial

CACHE

Q2 – Jun11

2.086

$0.990

8.452%

$0.880

29.10%

Industrial

Cambridge

Q2 – Jun11

1.036

$0.505

8.228%

$0.620

32.70%

Industrial

First REIT

Q2 – Jun11

1.58

$0.820

7.768%

$0.781

13.80%

Hospitals + Hotel (Indonesia)

AscottREIT

1H – Jun11

4.466

$1.185

7.538%

$1.330

40.10%

Serviced Apts (Regional)

LippoMapleT

Q1 – Mar11

1.17

$0.645

7.256%

$0.860

10.00%

Retail (Indonesia)

CapitaRChina

1H – Jun11

4.3

$1.240

6.992%

$1.140

29.70%

Retail (China)

MapletreeLog

Q2 – Jun11

1.6

$0.920

6.957%

$0.830

39.40%

Industrial

SuntecReit

Q2 – Jun11

2.532

$1.535

6.616%

$1.759

38.50%

Retail + Office

MapletreeInd

Q1 – Jun11

1.98

$1.225

6.465%

$0.950

36.00%

Industrial

SaizenREIT

1H – Dec10

0.52

$0.161

6.460%

$0.340

36.90%

Residential (Japan)

Starhill Gbl

Q2 – Jun11

1.04

$0.650

6.415%

$0.930

30.20%

Retail + Office

Frasers Comm

Q3 – Jun11

1.38

$0.870

6.368%

$1.330

37.10%

Retail + Office

Ascendasreit

Q1 – Jun11

3.2

$2.040

6.275%

$1.738

28.70%

Industrial

Fortune Reit HK$

1H – Jun11

12.8

$4.120

6.214%

$7.520

18.10%

Retail (HK)

MapletreeCom

Q1 – Jun11

0.9564

$0.900

5.967%

$0.915

38.60%

Retail + Office

K-REIT

1H – Jun11

3.72

$1.320

5.682%

$1.470

39.20%

Office

FrasersCT

Q3 – Jun11

1.95

$1.540

5.377%

$1.280

31.70%

Retail

CapitaComm

1H – Jun11

3.77

$1.410

5.348%

$1.520

26.90%

Office

CDL Htrust

1H – Jun11

5.34

$2.080

5.178%

$1.530

26.30%

Hotels

PLife REIT

Q1 – Mar11

2.36

$1.860

5.075%

$1.390

34.30%

Hospitals

CapitaMall

Q2 – Jun11

2.36

$1.885

5.024%

$1.550

38.20%

Retail + Office

NOTES :

  • Mkt Price is as on 29-Jul-11
  • 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)
  • Saizen : DPU Not Declared as Semi-Annual Payout Policy
  • PLife : Annualised DPU = 9.44ct
  • 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

$0.365

8.866%

$0.42

Shipping Trust

FSL Trust

Q2 – Jun11

0.95

$0.345

13.269%

$0.53

Shipping Trust

Rickmers

Q2 – Jun11

0.6

$0.405

7.139%

$0.87

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2047: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

Q4 – Mar11

1.05

$0.490

8.571%

$0.354

Infrastructure – Water + Gas + Power

K-Green

FY11 – IPO

7.82

$1.070

7.308%

$1.09

Energy (Incineration) + Water (NEWater)

AscendasIndT

Q1 – Jun11

1.5

$0.960

6.250%

$0.76

India – Industrial Park

Indiabulls

Q4 – Mar11

—

$0.200

—

$0.52

India – Office

HPH Trust US$

FY11 – IPO

5.9

$0.760

7.763%

—

Ports – HK + China

TCT

1H – Jun11

5

$2.030

4.926%

$4.17

China – Retail + Office + Industrial

PerennialCRT

FY11 – IPO

2.37

$0.635

5.843%

$0.67

China Retail

NOTES :

  • 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
  • CitySpring : The Group NAV per unit before hedging and translation reserves is S$0.429
  • 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)

 

July 29, 2011 Yield Comments Off on July 2011

June 2011

 

REITs : Average Yield = 6.827%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

AIMSAMPIReit

Q4 – Mar11

0.54

$0.220

9.818%

$0.27

32.00%

Industrial

Sabana REIT

Q1 – Mar11

3.04

$0.940

9.372%

$0.98

24.90%

Industrial

Cambridge

Q1 – Mar11

1.126

$0.495

9.226%

$0.61

33.30%

Industrial

CACHE

Q1 – Mar11

1.952

$0.970

8.161%

$0.88

26.40%

Industrial

First REIT

Q1 – Mar11

1.58

$0.790

8.114%

$0.78

13.80%

Hospitals + Hotel (Indonesia)

LippoMapleT

Q1 – Mar11

1.17

$0.605

7.736%

$0.86

10.00%

Retail (Indonesia)

AscottREIT

Q1 – Mar11

2.14

$1.180

7.254%

$1.26

41.10%

Serviced Apts (Regional)

CapitaRChina

Q1 – Mar11

2.15

$1.220

7.148%

$1.10

32.60%

Retail (China)

Frasers Comm

1H – Mar11

2.8639

$0.810

7.071%

$1.34

37.80%

Retail + Office

Fortune Reit HK$

Q1 – Mar11

6.73

$3.820

7.047%

$6.18

20.60%

Retail (HK)

MapletreeLog

Q1 – Mar11

1.55

$0.920

6.739%

$0.85

39.40%

Industrial

SaizenREIT

1H – Dec10

0.52

$0.155

6.710%

$0.34

36.90%

Residential (Japan)

Starhill Gbl

Q1 – Mar11

1.07

$0.650

6.677%

$0.93

30.20%

Retail + Office

MapletreeInd

Q2 – Mar11

1.93

$1.170

6.598%

$0.95

36.10%

Industrial

SuntecReit

Q1 – Mar11

2.388

$1.500

6.457%

$1.77

38.40%

Retail + Office

Ascendasreit

Q4 – Mar11

3.27

$2.040

6.412%

$1.72

35.20%

Industrial

MapletreeCom

FY12 – IPO

4.97

$0.865

5.746%

$0.91

39.00%

Retail + Office

K-REIT

Q1 – Mar11

1.79

$1.330

5.459%

$1.47

37.40%

Office

FrasersCT

Q2 – Mar11

2.07

$1.530

5.412%

$1.28

31.20%

Retail

PLife REIT

Q1 – Mar11

2.36

$1.840

5.130%

$1.39

34.30%

Hospitals

CapitaComm

Q1 – Mar11

1.84

$1.450

5.076%

$1.47

27.80%

Office

CapitaMall

Q1 – Mar11

2.29

$1.870

4.968%

$1.53

39.90%

Retail + Office

CDL Htrust

Q1 – Mar11

2.38

$2.060

4.684%

$1.49

20.70%

Hotels

NOTES :

  • Mkt Price is as on 30-Jun-11
  • Saizen : DPU Not Declared as Semi-Annual Payout Policy
  • PLife : Annualised DPU = 9.44ct
  • Fortune : DPU Not Paid as Semi-Annual Payout Policy
  • Cambridge : Annualised DPU = 4.567ct ; Actual Payout = 1.001ct (Annualized = 4.06ct) as recent 1-for-8 Rights Shares are Entitled to DPU
  • Sabana : Annualised DPU = 8.81ct ; Above DPU Payout is for the Period 26-Nov-10 to 31-Dec-10
  • MCT : IPO Forecast DPU = 4.97ct (FY12) ; 5.42ct (FY13) ; Listing on 27-Apr-11 2pm
  • StarHill Gbl : Annualised DPU = 4.34ct
  • CLT : Annualised DPU = 7.916ct
  • CDL H-Trust : Annualised DPU = 9.65ct ; DPU Not Paid as Semi-Annual Payout Policy
  • Suntec : Annualised DPU = 9.685ct
  • FCOT : Q211 (Mar) DPU = 1.61ct
  • FCT : Retained $318k Distributable Income for Q211 (Mar)
  • AscottREIT : DPU Not Paid as Semi-Annual Payout Policy
  • CMT : Annualised DPU = 9.29ct
  • FirstREIT : Annualised DPU = 6.41ct
  • AIMSAMPReit : Actual DPU Payout = 0.255ct (for the Period 23-Feb-11 to 31-Mar-11) ; DPU = 0.285ct (for the Period 1-Han-11 to 22-Feb-11) Already Paid Out
  • CCT : DPU Not Paid as Semi-Annual Payout Policy
  • K-REIT : DPU Not Paid as Semi-Annual Payout Policy
  • 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$

Q1 – Mar11

0.809

$0.355

9.115%

$0.42

Shipping Trust

FSL Trust

Q1 – Mar11

0.95

$0.350

13.348%

$0.57

Shipping Trust

Rickmers

Q1 – Mar11

0.6

$0.415

7.110%

$0.86

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2294:US$1 fm Yahoo Finance)
  • FSL : 49% 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

Q4 – Mar11

1.05

$0.535

7.850%

$0.354

Infrastructure – Water + Gas + Power

K-Green

FY11 – IPO

7.82

$1.060

8.132%

$1.11

Energy (Incineration) + Water (NEWater)

AscendasIndT

2H – Mar11

3.22

$0.950

6.779%

$0.80

India – Industrial Park

Indiabulls

Q4 – Mar11

—

$0.190

—

$0.52

India – Office

HPH Trust US$

FY11 – IPO

5.9

$0.845

6.982%

—

Ports – HK + China

TCT

Q1 – Mar11

2.5

$1.980

5.051%

$3.67

China – Retail + Office + Industrial

PerennialCRT

FY11 – IPO

2.37

$0.615

6.033%

$0.67

China Retail

NOTES :

  • 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
  • CitySpring : The Group NAV per unit before hedging and translation reserves is S$0.429
  • Indiabulls : No DPU Declared
  • TCT : No DPU Payout as Semi-Annual Dividend Payout Policy
  • HPH Trust : IPO DPU Forecast – FY11 = US5.9ct (HK45.88ct) ; FY12 = US6.59ct (HK51.24ct)
  • K-Green : DPU = 4.31ct for the Period 29-Jun-10 to 31-Dec-10 ; The Table Above Continues to Use FY11 IPO Forecast DPU to Calculate Yield
  • a-iTrust : No DPU Payout as Semi-Annual Payout Policy
  • 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)

 

June 30, 2011 Yield Comments Off on June 2011

May 2011

Results Announcement

  • 3 May 11 (AM) : TCT (Table Updated)
  • 3 May 11 : Fortune (Tables Updated)
  • 5 May 11 (AM) : PLife (Tables Updated)
  • 6 May 11 : IndiaBulls (Table Updated)
  • 11 May 11 : Saizen (Tables Updated)
  • 25 May 11 : CitySpring (Table Updated)

 

 

REITs : Average Yield = 6.872%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

AIMSAMPIReit

Q4 – Mar11

0.54

$0.215

10.047%

$0.27

32.00%

Industrial

Sabana REIT

Q1 – Mar11

3.04

$0.940

9.372%

$0.98

24.90%

Industrial

Cambridge

Q1 – Mar11

1.126

$0.500

9.134%

$0.61

33.30%

Industrial

CACHE

Q1 – Mar11

1.952

$0.930

8.512%

$0.88

26.40%

Industrial

LippoMapleT

Q1 – Mar11

1.17

$0.565

8.283%

$0.86

10.00%

Retail (Indonesia)

First REIT

Q1 – Mar11

1.58

$0.790

8.114%

$0.78

13.80%

Hospitals + Hotel (Indonesia)

AscottREIT

Q1 – Mar11

2.14

$1.170

7.316%

$1.26

41.10%

Serviced Apts (Regional)

Fortune Reit HK$

Q1 – Mar11

6.73

$3.750

7.179%

$6.18

20.60%

Retail (HK)

Frasers Comm

1H – Mar11

2.8639

$0.820

6.985%

$1.34

37.80%

Retail + Office

SaizenREIT

1H – Dec10

0.52

$0.150

6.933%

$0.34

36.90%

Residential (Japan)

CapitaRChina

Q1 – Mar11

2.15

$1.260

6.921%

$1.10

32.60%

Retail (China)

Starhill Gbl

Q1 – Mar11

1.07

$0.635

6.835%

$0.93

30.20%

Retail + Office

MapletreeLog

Q1 – Mar11

1.55

$0.915

6.776%

$0.85

39.40%

Industrial

MapletreeInd

Q2 – Mar11

1.93

$1.170

6.598%

$0.95

36.10%

Industrial

SuntecReit

Q1 – Mar11

2.388

$1.510

6.414%

$1.77

38.40%

Retail + Office

Ascendasreit

Q4 – Mar11

3.27

$2.060

6.350%

$1.72

35.20%

Industrial

MapletreeCom

FY12 – IPO

4.97

$0.880

5.648%

$0.91

39.00%

Retail + Office

K-REIT

Q1 – Mar11

1.79

$1.290

5.628%

$1.47

37.40%

Office

FrasersCT

Q2 – Mar11

2.07

$1.490

5.557%

$1.28

31.20%

Retail

PLife REIT

Q1 – Mar11

2.36

$1.830

5.158%

$1.39

34.30%

Hospitals

CapitaComm

Q1 – Mar11

1.84

$1.470

5.007%

$1.47

27.80%

Office

CapitaMall

Q1 – Mar11

2.29

$2.000

4.645%

$1.53

39.90%

Retail + Office

CDL Htrust

Q1 – Mar11

2.38

$2.080

4.639%

$1.49

20.70%

Hotels

NOTES :

  • Mkt Price is as on 31-May-11
  • Saizen : DPU Not Declared as Semi-Annual Payout Policy
  • PLife : Annualised DPU = 9.44ct
  • Fortune : DPU Not Paid as Semi-Annual Payout Policy
  • Cambridge : Annualised DPU = 4.567ct ; Actual Payout = 1.001ct (Annualized = 4.06ct) as recent 1-for-8 Rights Shares are Entitled to DPU
  • Sabana : Annualised DPU = 8.81ct ; Above DPU Payout is for the Period 26-Nov-10 to 31-Dec-10
  • MCT : IPO Forecast DPU = 4.97ct (FY12) ; 5.42ct (FY13) ; Listing on 27-Apr-11 2pm
  • StarHill Gbl : Annualised DPU = 4.34ct
  • CLT : Annualised DPU = 7.916ct
  • CDL H-Trust : Annualised DPU = 9.65ct ; DPU Not Paid as Semi-Annual Payout Policy
  • Suntec : Annualised DPU = 9.685ct
  • FCOT : Q211 (Mar) DPU = 1.61ct
  • FCT : Retained $318k Distributable Income for Q211 (Mar)
  • AscottREIT : DPU Not Paid as Semi-Annual Payout Policy
  • CMT : Annualised DPU = 9.29ct
  • FirstREIT : Annualised DPU = 6.41ct
  • AIMSAMPReit : Actual DPU Payout = 0.255ct (for the Period 23-Feb-11 to 31-Mar-11) ; DPU = 0.285ct (for the Period 1-Han-11 to 22-Feb-11) Already Paid Out
  • CCT : DPU Not Paid as Semi-Annual Payout Policy
  • K-REIT : DPU Not Paid as Semi-Annual Payout Policy
  • 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$

Q1 – Mar11

0.809

$0.355

9.115%

$0.42

Shipping Trust

FSL Trust

Q1 – Mar11

0.95

$0.385

12.138%

$0.57

Shipping Trust

Rickmers

Q1 – Mar11

0.6

$0.410

7.199%

$0.86

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2298:US$1 fm Yahoo Finance)
  • FSL : 49% 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

Q4 – Mar11

1.05

$0.550

7.636%

$0.354

Infrastructure – Water + Gas + Power

K-Green

FY11 – IPO

7.82

$1.080

7.981%

$1.11

Energy (Incineration) + Water (NEWater)

AscendasIndT

2H – Mar11

3.22

$0.980

6.571%

$0.80

India – Industrial Park

Indiabulls

Q4 – Mar11

—

$0.190

—

$0.52

India – Office

HPH Trust US$

FY11 – IPO

5.9

$0.940

6.277%

—

Ports – HK + China

TCT

Q1 – Mar11

2.5

$2.050

4.878%

$3.67

China – Retail + Office + Industrial

NOTES :

  • CitySpring : Guidance for FY12 DPU = 4.2ct
  • CitySpring : The Group NAV per unit before hedging and translation reserves is S$0.429
  • Indiabulls : No DPU Declared
  • TCT : No DPU Payout as Semi-Annual Dividend Payout Policy
  • HPH Trust : IPO DPU Forecast – FY11 = US5.9ct (HK45.88ct) ; FY12 = US6.59ct (HK51.24ct)
  • K-Green : DPU = 4.31ct for the Period 29-Jun-10 to 31-Dec-10 ; The Table Above Continues to Use FY11 IPO Forecast DPU to Calculate Yield
  • a-iTrust : No DPU Payout as Semi-Annual Payout Policy
  • 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)

 

 

May 31, 2011 Yield Comments Off on May 2011

April 2011

Results Announcement

  • 14 Apr 11 : K-REIT (Tables Updated)

  • 15 Apr 11 (AM) : CRCT (Tables Updated)
  • 18 Apr 11 : A-REIT (Tables Updated)
  • 18 Apr 11 : Rickmers (Table Updated)
  • 18 Apr 11 : PST (Table Updated)
  • 19 Apr 11 (AM) : CCT (Tables Updated)
  • 19 Apr 11 : AIMSAMPReit (Tables Updated)
  • 20 Apr 11 : CMT (Tables Updated)
  • 20 Apr 11 : ART (Tables Updated)
  • 20 Apr 11 : FSL (Table Updated)
  • 20 Apr 11 : FirstREIT (Tables Updated)
  • 21 Apr 11 (AM) : FCT (Tables Updated)
  • 21 Apr 11 : MLT (Tables Updated)
  • 21 Apr 11 : FCOT (Tables Updated)
  • 21 Apr 11 : Suntec (Tables Updated)
  • 26 Apr 11 (AM) : CDL H-Trust (Tables Updated)
  • 26 Apr 11 : MIT (Tables Updated)
  • 26 Apr 11 : CLT (Tables Updated)
  • 26 Apr 11 : StarHill Global (Tables Updated)
  • 27 Apr 11 (2PM) : MCT – IPO (Tables Updated)
  • 27 Apr 11 : Sabana (Tables Updated)
  • 27 Apr 11 : a-iTrust (Table Updated)
  • 28 Apr 11 : Cambridge (Tables Updated)
  • 28 Apr 11 : LMIR (Tables Updated)
  • 3 May 11 (AM) : TCT
  • 5 May 11 : PLife
  • 12 May 11 (AM) : Saizen

 

 

REITs : Average Yield = 6.937%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

AIMSAMPIReit

Q4 – Mar11

0.54

$0.205

10.537%

$0.27

32.00%

Industrial

Sabana REIT

Q1 – Mar11

3.04

$0.945

9.323%

$0.98

24.90%

Industrial

Cambridge

Q1 – Mar11

1.126

$0.500

9.134%

$0.61

33.30%

Industrial

First REIT

Q1 – Mar11

1.58

$0.735

8.721%

$0.78

13.80%

Hospitals + Hotel (Indonesia)

LippoMapleT

Q1 – Mar11

1.17

$0.560

8.357%

$0.86

10.00%

Malls (Indonesia)

CACHE

Q1 – Mar11

1.952

$0.955

8.289%

$0.88

26.40%

Industrial

AscottREIT

Q1 – Mar11

2.14

$1.190

7.193%

$1.26

41.10%

Serviced Apts (Regional)

Frasers Comm

1H – Mar11

2.8639

$0.800

7.160%

$1.34

37.80%

Malls + Office

MapletreeInd

Q2 – Mar11

1.93

$1.080

7.148%

$0.95

36.10%

Industrial

SaizenREIT

1H – Dec10

0.52

$0.150

6.933%

$0.36

36.90%

Residential (Japan)

CapitaRChina

Q1 – Mar11

2.15

$1.260

6.921%

$1.10

32.60%

Malls (China)

MapletreeLog

Q1 – Mar11

1.55

$0.905

6.851%

$0.85

39.40%

Industrial

Starhill Gbl

Q1 – Mar11

1.07

$0.635

6.835%

$0.93

30.20%

Malls + Office

Ascendasreit

Q4 – Mar11

3.27

$2.030

6.443%

$1.72

35.20%

Industrial

SuntecReit

Q1 – Mar11

2.388

$1.520

6.372%

$1.77

38.40%

Malls + Office

Fortune Reit HK$

2H – Dec10

12.08

$3.870

6.243%

$6.18

21.00%

Malls (HK)

MapletreeCom

FY12 – IPO

4.97

$0.880

5.648%

$0.91

39.00%

Malls + Office

FrasersCT

Q2 – Mar11

2.07

$1.480

5.595%

$1.28

31.20%

Malls

K-REIT

Q1 – Mar11

1.79

$1.310

5.542%

$1.47

37.40%

Office

PLife REIT

Q4 – Dec10

2.38

$1.730

5.503%

$1.39

34.60%

Hospitals

CapitaComm

Q1 – Mar11

1.84

$1.440

5.111%

$1.47

27.80%

Office

CapitaMall

Q1 – Mar11

2.29

$1.890

4.915%

$1.53

39.90%

Malls + Office

CDL Htrust

Q1 – Mar11

2.38

$2.020

4.777%

$1.49

20.70%

Hotels

NOTES :

  • Mkt Price is as on 29-Apr-11
  • Cambridge : Annualised DPU = 4.567ct ; Actual Payout = 1.001ct (Annualized = 4.06ct) as recent 1-for-8 Rights Shares are Entitled to DPU
  • Sabana : Annualised DPU = 8.81ct ; Above DPU Payout is for the Period 26-Nov-10 to 31-Dec-10
  • MCT : IPO Forecast DPU = 4.97ct (FY12) ; 5.42ct (FY13) ; Listing on 27-Apr-11 2pm
  • StarHill Gbl : Annualised DPU = 4.34ct
  • CLT : Annualised DPU = 7.916ct
  • CDL H-Trust : Annualised DPU = 9.65ct ; DPU Not Paid as Semi-Annual Payout Policy
  • Suntec : Annualised DPU = 9.685ct
  • FCOT : Q211 (Mar) DPU = 1.61ct
  • FCT : Retained $318k Distributable Income for Q211 (Mar)
  • AscottREIT : DPU Not Paid as Semi-Annual Payout Policy
  • CMT : Annualised DPU = 9.29ct
  • FirstREIT : Annualised DPU = 6.41ct
  • AIMSAMPReit : Actual DPU Payout = 0.255ct (for the Period 23-Feb-11 to 31-Mar-11) ; DPU = 0.285ct (for the Period 1-Han-11 to 22-Feb-11) Already Paid Out
  • CCT : DPU Not Paid as Semi-Annual Payout Policy
  • K-REIT : DPU Not Paid as Semi-Annual Payout Policy
  • 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
  • PLife : Annualised DPU = 9.52ct
  • Suntec : Actual Payout = 0.593ct for the Period 9-Dec-10 to 31-Dec-10
  • KREIT : Q410 DPU = 1.71ct ; Annualised DPU = 6.78ct ; Above Yield Computation Uses 2H10 DPU
  • 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$

Q1 – Mar11

0.809

$0.365

8.866%

$0.42

Shipping Trust

FSL Trust

Q1 – Mar11

0.95

$0.405

11.495%

$0.57

Shipping Trust

Rickmers

Q1 – Mar11

0.6

$0.420

7.001%

$0.86

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2251:US$1 fm Yahoo Finance)
  • FSL : 49% 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

Q3 – Dec10

1.05

$0.545

7.706%

$0.38

Infrastructure – Water, Gas

K-Green

FY11 – IPO

7.82

$1.040

8.288%

$1.11

Energy (Incineration) + Water (NEWater)

AscendasIndT

2H – Mar11

3.22

$0.950

6.779%

$0.80

India – Industrial Park

Indiabulls

Q3 – Dec10

—

$0.220

—

$0.50

India – Office

HPH Trust US$

FY11 – IPO

5.9

$0.920

6.413%

—

Ports – HK, China

NOTES :

  • HPH Trust : IPO DPU Forecast – FY11 = US5.9ct (HK45.88ct) ; FY12 = US6.59ct (HK51.24ct)
  • K-Green : DPU = 4.31ct for the Period 29-Jun-10 to 31-Dec-10 ; The Table Above Continues to Use FY11 IPO Forecast DPU to Calculate Yield
  • CitySpring : The Group NAV per unit before hedging and translation reserves is S$0.45
  • Indiabulls : No DPU Declared
  • a-iTrust : No DPU Payout as Semi-Annual Payout Policy
  • K-Green : DPU – FY10 (6mths) = 3.91ct ; FY11 = 7.82ct ; Circular (31-May-10) ; Listing – 29-Jun-10 9am
  • CitySpring : Guidance for FY11 DPU = 4.2ct
  • 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)

 

April 29, 2011 Yield Comments Off on April 2011

March 2011

 

REITs : Average Yield = 6.989%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

AIMSAMPIReit

Q3 – Dec10

0.51

$0.205

9.951%

$0.27

34.00%

Industrial

Cambridge

Q4 – Dec10

1.193

$0.490

9.659%

$0.61

34.70%

Industrial

Sabana REIT

FY11 – IPO

8.63

$0.930

9.280%

$0.99

26.50%

Industrial

First REIT

FY11 – Rights

6.4

$0.740

8.649%

$0.75

17.25%

Hospitals + Hotel (Indonesia)

LippoMapleT

Q4 – Dec10

1.11

$0.540

8.222%

$0.83

10.30%

Malls (Indonesia)

CACHE

Q4 – Dec10

1.938

$0.940

8.180%

$0.89

23.70%

Industrial

MapletreeInd

Q1 – Dec10

1.52

$1.050

7.442%

$0.87

38.50%

Industrial

SaizenREIT

1H – Dec10

0.52

$0.140

7.429%

$0.36

36.90%

Residential (Japan)

AscottREIT

Q4 – Dec10

2.16

$1.200

7.200%

$1.28

40.30%

Serviced Apts (Regional)

Frasers Comm

FY10 – Proforma

5.55

$0.795

6.981%

$1.38

39.80%

Malls + Office

MapletreeLog

Q4 – Dec10

1.55

$0.905

6.851%

$0.84

37.70%

Industrial

Starhill Gbl

Q4 – Dec10

1.04

$0.620

6.661%

$0.93

30.20%

Malls + Office

CapitaRChina

2H – Dec10

4.15

$1.250

6.640%

$1.13

31.10%

Malls (China)

Ascendasreit

Q3 – Dec10

3.29

$2.040

6.451%

$1.57

34.70%

Industrial

Fortune Reit HK$

2H – Dec10

12.08

$3.840

6.292%

$6.18

21.00%

Malls (HK)

SuntecReit

Q4 – Dec10

2.316

$1.540

6.016%

$1.78

38.40%

Malls + Office

CapitaComm

2H – Dec10

3.93

$1.390

5.655%

$1.47

28.60%

Office

PLife REIT

Q4 – Dec10

2.38

$1.710

5.567%

$1.39

34.60%

Hospitals

CDL Htrust

2H – Dec10

5.31

$2.010

5.284%

$1.52

20.40%

Hotels

K-REIT

2H – Dec10

3.38

$1.290

5.240%

$1.48

37.00%

Office

FrasersCT

Q1 – Dec10

1.95

$1.520

5.132%

$1.28

30.60%

Malls

CapitaMall

Q4 – Dec10

2.36

$1.880

4.979%

$1.53

35.90%

Malls + Office

NOTES :

  • Mkt Price is as on 31-Mar-11
  • Cambridge : Annualised DPU = 4.733ct <= 0.566ct (18 Nov 10 to 31 Dec 10) + 0.627ct (1 Oct 10 to 17 Novg 10) Paid on 6 Dec 10
  • 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
  • FCOT : Annualised DPU = 0.99ct ; DPU Not Paid as Semi-Annual Payout Policy
  • StarHill Gbl : Annualised DPU = 4.13ct
  • MIT : For the Period 21-Oct-10 to 31-Dec-10
  • PLife : Annualised DPU = 9.52ct
  • FirstREIT : Actual Payout = 0.87ct Due to Enlarged Share Base from 5-for-4 Rights Issue ; Above Yield is Computed Using Figures from Rights Prospectus
  • Suntec : Actual Payout = 0.593ct for the Period 9-Dec-10 to 31-Dec-10
  • AscottREIT : Actual Payout = 2.27ct for the Period 22-Sep-10 to 31-Dec-10
  • KREIT : Q410 DPU = 1.71ct ; Annualised DPU = 6.78ct ; Above Yield Computation Uses 2H10 DPU
  • CMT : Annualised DPU = 9.36ct
  • CCT : Q410 DPU = 1.94ct ; Annualised DPU = 7.70ct ; Above Yield Computation Uses 2H10 DPU
  • 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
  • CLT : Annualised DPU = 7.7ct ; Actual Payout = 3.65ct & Annualised DPU = 7.75ct (12-Apr-10 to 30-Sep-10)
  • 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)
  • Suntec : Private Placement 128.5Mil New Units @ $1.19 ; SGX Annc (11-Dec-09) ; Gearing 31.5% ; Aggregate Leverage 33.4%
  • 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%
  • AIMSAMPIReit : 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% ; Listing on 28-Dec-09 9am
  • 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%
  • 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)
  • 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)

 
 

 
 

Shipping Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

PacShipTr US$

Q4 – Dec10

0.809

$0.360

8.989%

$0.41

Shipping Trust

FSL Trust

Q4 – Dec10

0.95

$0.410

11.676%

$0.57

Shipping Trust

Rickmers

Q4 – Dec10

0.6

$0.395

7.654%

$0.83

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.2598:US$1 fm Yahoo Finance)
  • Rickmers : 14% Payout
  • FSL : 43% Payout (FY10)
  • PST : 75% Payout

   
 

Other Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

CitySpring

Q3 – Dec10

1.05

$0.545

7.706%

$0.38

Infrastructure – Water, Gas

K-Green

FY11 – IPO

7.82

$1.030

8.369%

$1.11

Energy (Incineration) + Water (NEWater)

AscendasIndT

Q3 – Dec10

1.72

$0.955

7.204%

$0.83

India – Industrial Park

Indiabulls

Q3 – Dec10

—

$0.240

—

$0.50

India – Office

HPH Trust US$

FY11 – IPO

5.9

$0.990

5.960%

—

Ports – HK, China

NOTES :

  • HPH Trust : IPO DPU Forecast – FY11 = US5.9ct (HK45.88ct) ; FY12 = US6.59ct (HK51.24ct)
  • K-Green : DPU = 4.31ct for the Period 29-Jun-10 to 31-Dec-10 ; The Table Above Continues to Use FY11 IPO Forecast DPU to Calculate Yield
  • CitySpring : The Group NAV per unit before hedging and translation reserves is S$0.45
  • Indiabulls : No DPU Declared
  • a-iTrust : No DPU Payout as Semi-Annual Payout Policy
  • K-Green : DPU – FY10 (6mths) = 3.91ct ; FY11 = 7.82ct ; Circular (31-May-10) ; Listing – 29-Jun-10 9am
  • CitySpring : Guidance for FY11 DPU = 4.2ct
  • 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)

 

March 31, 2011 Yield Comments Off on March 2011