Category: Yield

 

September 2010

 

REITs : Average Yield = 6.588%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

AIMSAMPIReit

Q1 – Proforma Rights

0.52

$0.220

9.455%

$0.26

34.80%

Industrial

Cambridge

Q2 – Jun10

1.238

$0.545

9.112%

$0.60

42.30%

Industrial

First REIT

Q2 – Jun10

1.92

$0.915

8.415%

$0.98

16.00%

Hospitals + Hotel (Indonesia)

LippoMapleT

Q2 – Jun10

1.04

$0.500

8.320%

$0.83

10.30%

Malls (Indonesia)

CACHE

Q2 – Jun10

1.71

$0.975

8.010%

$0.87

25.50%

Industrial

MapletreeLog

Q2 – Jun10

1.5

$0.870

6.897%

$0.87

38.60%

Industrial

CapitaRChina

1H – Jun10

4.21

$1.250

6.792%

$1.09

33.00%

Malls (China)

SuntecReit

Q2 – Jun10

2.528

$1.510

6.715%

$1.74

33.60%

Malls + Office

SaizenREIT

Q4 – Jun10

0.26

$0.155

6.710%

$0.40

36.90%

Residential (Japan)

FraserComm

Q3 – Jun10

0.25

$0.155

6.452%

$0.26

40.40%

Malls + Office (S’pore and Aust)

Fortune Reit HK$

1H – Jun10

12.27

$3.880

6.325%

$5.70

21.90%

Malls (HK)

Starhill Gbl

Q2 – Jun10

0.91

$0.580

6.293%

$0.89

30.80%

Malls + Office

Ascendasreit

Q1 – Jun10

3.37

$2.190

6.155%

$1.55

34.10%

Industrial

AscottREIT

1H – Jun10

3.53

$1.150

6.139%

$1.38

40.70%

Serviced Apts (Regional)

FrasersCT

Q3 – Jun10

2.07

$1.480

5.595%

$1.24

31.20%

Malls

CapitaComm

1H – Jun10

3.9

$1.480

5.311%

$1.36

32.80%

Office

PLife REIT

Q2 – Jun10

2.09

$1.600

5.219%

$1.36

32.60%

Hospitals

K-REIT

1H – Jun10

2.97

$1.290

4.643%

$1.45

15.20%

Office

CDL Htrust

1H – Jun10

4.89

$2.130

4.629%

$1.43

29.70%

Hotels

CapitaMall

Q2 – Jun10

2.29

$2.150

4.274%

$1.50

34.80%

Malls + Office

NOTES :

  • Mkt Price is as on 30-Sep-10
  • 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
  • Saizen : This distribution relates to distributable cash accumulated over two months in May 2010 and June 2010 ; First Payout since 1H09 (Dec-08)
  • PLife : Annualised DPU = 8.35ct
  • AIMSAMPIReit : Annualised = 2.1504ct
  • CLT : Annualised DPU = 7.81ct (12-Apr-10 to 30-Jun-10) ; No DPU Payout (Will Pay with Sep-10 Results)
  • FrasersComm : Annualised DPU = 1.0ct ; No Payout as Semi-Annual Payout Policy
  • CDLHTrust : Annualised = 9.86ct ; Gearing = 18.6% Post-Rights
  • StarHill Gbl : Annualised DPU = 3.65ct
  • FirstREIT : Annualised DPU 7.70ct
  • FCT : $1.6M ($1.1M from Q1) Retained for Future Distribution
  • CRCT : Annualised DPU = 8.49ct
  • Suntec : Annualised DPU = 10.14ct
  • CMT : Annualised DPU = 9.19ct ; Retained Income (for Future Distribution) = $4.5M ($9.5M During Q1)
  • CCT : Annualised DPU = 7.86ct
  • KREIT : Annualised DPU = 5.99ct
  • A-REIT : DPU Includes 0.26ct which is Non-Recurring in Nature
  • Cambridge : Annualised DPU = 4.966ct
  • 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$

Q2 – Jun10

0.793

$0.300

10.573%

$0.40

Shipping Trust

FSL Trust

Q2 – Jun10

0.95

$0.440

11.349%

$0.58

Shipping Trust

Rickmers

Q2 – Jun10

0.57

$0.375

7.990%

$0.91

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3141:US$1 fm Yahoo Finance)
  • Rickmers : 14% Payout
  • FSL : 33%
  • PST : 70% Payout

   
 

Other Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

CitySpring

Q1 – Jun10

1.05

$0.610

6.885%

$0.35

Infrastructure – Water, Gas

HyfluxWaterT

Q1 – Mar10

1.16

$0.765

6.065%

$0.73

China – Water Plant

K-Green

FY11

7.82

$1.090

7.174%

$1.12

Energy (Incineration) + Water (NEWater)

AscendasIndT

Q1 – Jun10

1.66

$1.000

6.640%

$0.85

India – Industrial Park

Indiabulls

Q1 – Jun10

—

$0.250

—

$0.5262

India – Office

NOTES :

  • Indiabulls : No DPU Declared
  • CitySpring : The Group NAV per unit before hedging and translation reserves is S$0.46
  • 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
  • HWT : No Payout as Semi-Annual Payout Policy
  • HWT : 2H09 DPU = 2.86ct (With Sponsor Waiver) ; Sponsor DPU = 2.03ct
  • 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, 2010 Yield No Comments »

August 2010

Results Announcement

  • 6 Aug 10 (AM) : PLife (Tables Updated)
  • 12 Aug 10 : CitySpring (Table Updated)
  • 12 Aug 10 : IndiaBulls (Updated NAV)
  • 15 Aug 10 : Rickmers (Table Updated)
  • 26 Aug 10 (AM) : Saizen (Tables Updated)

 

REITs : Average Yield = 6.866%

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

AIMSAMPIReit

Q1 – Jun10

0.5376

$0.220

9.775%

$0.31

28.80%

Industrial

Cambridge

Q2 – Jun10

1.238

$0.510

9.737%

$0.60

42.30%

Industrial

LippoMapleT

Q2 – Jun10

1.04

$0.460

9.043%

$0.83

10.30%

Malls (Indonesia)

First REIT

Q2 – Jun10

1.92

$0.865

8.902%

$0.98

16.00%

Hospitals + Hotel (Indonesia)

CACHE

Q2 – Jun10

1.71

$0.985

7.929%

$0.87

25.50%

Industrial

MapletreeLog

Q2 – Jun10

1.5

$0.840

7.143%

$0.87

38.60%

Industrial

SuntecReit

Q2 – Jun10

2.528

$1.420

7.141%

$1.74

33.60%

Malls + Office

FraserComm

Q3 – Jun10

0.25

$0.145

6.897%

$0.26

40.40%

Malls + Office (S’pore and Aust)

CapitaRChina

1H – Jun10

4.21

$1.240

6.847%

$1.09

33.00%

Malls (China)

Fortune Reit HK$

1H – Jun10

12.27

$3.650

6.723%

$5.70

21.90%

Malls (HK)

Ascendasreit

Q1 – Jun10

3.37

$2.070

6.512%

$1.55

34.10%

Industrial

SaizenREIT

Q4 – Jun10

0.26

$0.160

6.500%

$0.40

36.90%

Residential (Japan)

Starhill Gbl

Q2 – Jun10

0.91

$0.575

6.348%

$0.89

30.80%

Malls + Office

AscottREIT

1H – Jun10

3.53

$1.120

6.304%

$1.38

40.70%

Serviced Apts (Regional)

FrasersCT

Q3 – Jun10

2.07

$1.390

5.957%

$1.24

31.20%

Malls

CapitaComm

1H – Jun10

3.9

$1.400

5.614%

$1.36

32.80%

Office

PLife REIT

Q2 – Jun10

2.09

$1.580

5.285%

$1.36

32.60%

Hospitals

K-REIT

1H – Jun10

2.97

$1.200

4.992%

$1.45

15.20%

Office

CDL Htrust

1H – Jun10

4.89

$2.000

4.930%

$1.43

29.70%

Hotels

CapitaMall

Q2 – Jun10

2.29

$1.940

4.737%

$1.50

34.80%

Malls + Office

NOTES :

  • Mkt Price is as on 31-Aug-10
  • Saizen : This distribution relates to distributable cash accumulated over two months in May 2010 and June 2010 ; First Payout since 1H09 (Dec-08)
  • PLife : Annualised DPU = 8.35ct
  • AIMSAMPIReit : Annualised = 2.1504ct
  • CLT : Annualised DPU = 7.81ct (12-Apr-10 to 30-Jun-10) ; No DPU Payout (Will Pay with Sep-10 Results)
  • FrasersComm : Annualised DPU = 1.0ct ; No Payout as Semi-Annual Payout Policy
  • CDLHTrust : Annualised = 9.86ct ; Gearing = 18.6% Post-Rights
  • StarHill Gbl : Annualised DPU = 3.65ct
  • FirstREIT : Annualised DPU 7.70ct
  • FCT : $1.6M ($1.1M from Q1) Retained for Future Distribution
  • CRCT : Annualised DPU = 8.49ct
  • Suntec : Annualised DPU = 10.14ct
  • CMT : Annualised DPU = 9.19ct ; Retained Income (for Future Distribution) = $4.5M ($9.5M During Q1)
  • CCT : Annualised DPU = 7.86ct
  • KREIT : Annualised DPU = 5.99ct
  • A-REIT : DPU Includes 0.26ct which is Non-Recurring in Nature
  • Cambridge : Annualised DPU = 4.966ct
  • 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$

Q2 – Jun10

0.793

$0.290

10.938%

$0.40

Shipping Trust

FSL Trust

Q2 – Jun10

0.95

$0.410

12.571%

$0.58

Shipping Trust

Rickmers

Q2 – Jun10

0.57

$0.365

8.472%

$0.91

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3563:US$1 fm Yahoo Finance)
  • Rickmers : 14% Payout
  • FSL : 33%
  • PST : 70% Payout

   
 

Other Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

CitySpring

Q1 – Jun10

1.05

$0.595

7.059%

$0.35

Infrastructure – Water, Gas

HyfluxWaterT

Q1 – Mar10

1.16

$0.780

5.949%

$0.73

China – Water Plant

K-Green

FY11

7.82

$1.090

7.174%

$1.12

Energy (Incineration) + Water (NEWater)

AscendasIndT

Q1 – Jun10

1.66

$0.960

6.917%

$0.85

India – Industrial Park

Indiabulls

Q1 – Jun10

—

$0.260

—

$0.5262

India – Office

NOTES :

  • Indiabulls : No DPU Declared
  • CitySpring : The Group NAV per unit before hedging and translation reserves is S$0.46
  • 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
  • HWT : No Payout as Semi-Annual Payout Policy
  • HWT : 2H09 DPU = 2.86ct (With Sponsor Waiver) ; Sponsor DPU = 2.03ct
  • 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, 2010 Yield No Comments »

July 2010

Results Announcement

  • 15 Jul 10 : Cambridge (Tables Updated)
  • 16 Jul 10 : A-REIT (Tables Updated)
  • 19 Jul 10 : K-REIT (Tables Updated)
  • 21 Jul 10 (AM) : CCT (Tables Updated)
  • 21 Jul 10 : PST (Table Updated)
  • 22 Jul 10 (AM) : CMT (Tables Updated)
  • 22 Jul 10 : Suntec (Tables Updated)
  • 23 Jul 10 (AM) : CRCT (Tables Updated)
  • 23 Jul 10 (AM) : ART (Tables Updated)
  • 23 Jul 10 : a-iTrust (Table Updated)
  • 23 Jul 10 : FCT (Tables Updated)
  • 25 Jul 10 : MLT (Tables Updated)
  • 26 Jul 10 (Noon) : FSL (Table Updated)
  • 26 Jul 10 : FirstREIT (Tables Updated)
  • 26 Jul 10 : StarHill Gbl (Tables Updated)
  • 28 Jul 10 (AM) : CDL H-Trust (Tables Updated)
  • 28 Jul 10 : Fortune (Tables Updated)
  • 28 Jul 10 : FCOT (Tables Updated)
  • 29 Jul 10 : CLT (Tables Updated)
  • 29 Jul 10 : AIMSAMPReit (Tables Updated)
  • 29 Jul 10 : LMIR (Tables Updated)
  • 6 Aug 10 : PLife
  • 12 Aug 10 : CitySpring

 

REITs : Average Yield = 6.813% (Excl. Saizen)

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

Cambridge

Q2 – Jun10

1.238

$0.510

9.737%

$0.60

42.30%

Industrial

AIMSAMPIReit

Q1 – Jun10

0.5376

$0.230

9.350%

$0.31

28.80%

Industrial

First REIT

Q2 – Jun10

1.92

$0.885

8.701%

$0.98

16.00%

Hospitals + Hotel (Indonesia)

LippoMapleT

Q2 – Jun10

1.04

$0.485

8.577%

$0.83

10.30%

Malls (Indonesia)

CACHE

Q2 – Jun10

1.71

$1.000

7.810%

$0.87

25.50%

Industrial

SuntecReit

Q2 – Jun10

2.528

$1.430

7.091%

$1.74

33.60%

Malls + Office

CapitaRChina

1H – Jun10

4.21

$1.220

6.959%

$1.09

33.00%

Malls (China)

MapletreeLog

Q2 – Jun10

1.5

$0.880

6.818%

$0.87

38.60%

Industrial

Fortune Reit HK$

1H – Jun10

12.27

$3.650

6.723%

$5.70

21.90%

Malls (HK)

FraserComm

Q3 – Jun10

0.25

$0.150

6.667%

$0.26

40.40%

Malls + Office (S’pore and Aust)

Ascendasreit

Q1 – Jun10

3.37

$2.120

6.358%

$1.55

34.10%

Industrial

Starhill Gbl

Q2 – Jun10

0.91

$0.575

6.348%

$0.89

30.80%

Malls + Office

FrasersCT

Q3 – Jun10

2.07

$1.370

6.044%

$1.24

31.20%

Malls

AscottREIT

1H – Jun10

3.53

$1.180

5.983%

$1.38

40.70%

Serviced Apts (Regional)

CapitaComm

1H – Jun10

3.9

$1.320

5.955%

$1.36

32.80%

Office

PLife REIT

Q1 – Mar10

2.07

$1.490

5.557%

$1.37

28.20%

Hospitals

K-REIT

1H – Jun10

2.97

$1.190

5.034%

$1.45

15.20%

Office

CDL Htrust

1H – Jun10

4.89

$2.000

4.930%

$1.43

29.70%

Hotels

CapitaMall

Q2 – Jun10

2.29

$1.910

4.812%

$1.50

34.80%

Malls + Office

SaizenREIT

Q3 – Mar10

0

$0.160

0.000%

$0.39

36.90%

Residential (Japan)

NOTES :

  • Mkt Price is as on 30-Jul-10
  • AIMSAMPIReit : Annualised = 2.1504ct
  • CLT : Annualised DPU = 7.81ct (12-Apr-10 to 30-Jun-10) ; No DPU Payout (Will Pay with Sep-10 Results)
  • FrasersComm : Annualised DPU = 1.0ct ; No Payout as Semi-Annual Payout Policy
  • CDLHTrust : Annualised = 9.86ct ; Gearing = 18.6% Post-Rights
  • StarHill Gbl : Annualised DPU = 3.65ct
  • FirstREIT : Annualised DPU 7.70ct
  • FCT : $1.6M ($1.1M from Q1) Retained for Future Distribution
  • CRCT : Annualised DPU = 8.49ct
  • Suntec : Annualised DPU = 10.14ct
  • CMT : Annualised DPU = 9.19ct ; Retained Income (for Future Distribution) = $4.5M ($9.5M During Q1)
  • CCT : Annualised DPU = 7.86ct
  • KREIT : Annualised DPU = 5.99ct
  • A-REIT : DPU Includes 0.26ct which is Non-Recurring in Nature
  • Cambridge : Annualised DPU = 4.966ct
  • PLife : Annualised DPU = 8.28ct
  • 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%
  • 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)
  • 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$

Q2 – Jun10

0.793

$0.290

10.938%

$0.40

Shipping Trust

FSL Trust

Q2 – Jun10

0.95

$0.410

12.615%

$0.58

Shipping Trust

Rickmers

Q1 – Mar10

0.57

$0.365

8.502%

$0.94

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3611:US$1 fm Yahoo Finance)
  • FSL : 33%
  • PST : 70% Payout
  • Rickmers : 13% Payout

   
 

Other Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

CitySpring

Q4 – Mar10

1.05

$0.615

6.829%

$0.43

Infrastructure – Water, Gas

HyfluxWaterT

Q1 – Mar10

1.16

$0.685

6.774%

$0.73

China – Water Plant

K-Green

FY11

7.82

$1.150

6.800%

$1.12

Energy (Incineration) + Water (NEWater)

AscendasIndT

Q1 – Jun10

1.66

$0.950

6.989%

$0.85

India – Industrial Park

Indiabulls

Q4 – Mar10

—

$0.225

—

$0.54

India – Office

NOTES :

  • 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 : The Group NAV per unit before hedging and translation reserves is S$0.49 ; Guidance for FY11 DPU = 4.2ct
  • HWT : No Payout as Semi-Annual Payout Policy
  • Indiabulls : No DPU Declared
  • HWT : 2H09 DPU = 2.86ct (With Sponsor Waiver) ; Sponsor DPU = 2.03ct
  • 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 30, 2010 Yield No Comments »

June 2010

REITs : Average Yield = 7.210% (Excl. Saizen)

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

Cambridge

Q1 – Mar10

1.274

$0.495

10.438%

$0.59

42.60%

Industrial

LippoMapleT

Q1 – Mar10

1.2

$0.475

10.105%

$0.84

10.24%

Malls (Indonesia)

AIMSAMPIReit

Q4 – Mar10

0.5376

$0.220

9.775%

$0.31

28.90%

Industrial

First REIT

Q1 – Mar10

1.9

$0.855

9.018%

$0.98

15.70%

Hospitals + Hotel (Indonesia)

FraserComm

1H – Mar10

0.5619

$0.140

8.071%

$0.27

40.10%

Malls + Office (S’pore and Aust)

CACHE

FY10 – IPO

7.65

$0.980

7.806%

$0.87

25.90%

Industrial

SuntecReit

Q1 – Mar10

2.513

$1.320

7.721%

$1.75

33.40%

Malls + Office

Fortune Reit HK$

Q1 – Mar10

6.38

$3.550

7.189%

$5.19

23.70%

Malls (HK)

MapletreeLog

Q1 – Mar10

1.5

$0.835

7.186%

$0.85

38.60%

Industrial

CapitaRChina

Q1 – Mar10

2.14

$1.240

7.000%

$1.07

33.80%

Malls (China)

Starhill Gbl

Q1 – Mar10

0.95

$0.555

6.937%

$0.81

29.30%

Malls + Office

CapitaComm

Q1 – Mar10

1.93

$1.220

6.418%

$1.37

32.20%

Office

FrasersCT

Q2 – Mar10

2.06

$1.300

6.338%

$1.23

31.40%

Malls

PLife REIT

Q1 – Mar10

2.07

$1.360

6.088%

$1.37

28.20%

Hospitals

Ascendasreit

Q4 – Mar10

2.73

$1.820

6.000%

$1.55

31.60%

Industrial

AscottREIT

Q1 – Mar10

1.66

$1.130

5.876%

$1.32

42.10%

Serviced Apts (Regional)

CDL Htrust

Q1 – Mar10

2.32

$1.750

5.377%

$1.41

30.90%

Hotels

CapitaMall

Q1 – Mar10

2.23

$1.840

4.913%

$1.54

32.40%

Malls + Office

K-REIT

Q1 – Mar10

1.33

$1.140

4.728%

$1.47

25.20%

Office

SaizenREIT

Q3 – Mar10

0

$0.160

0.000%

$0.39

36.90%

Residential (Japan)

NOTES :

  • Mkt Price is as on 30-Jun-10
  • AIMSAMPIReit : Annualised = 2.1504ct
  • PLife : Annualised DPU = 8.28ct
  • Fortune : No Payout as Semi-Annual Payout Policy
  • CDLHTrust : Annualised = 9.41ct ; No Payout as Semi-Annual Payout Policy
  • AscottREIT : No Payout as Semi-Annual Payout Policy
  • Suntec : Annualised DPU = 10.192ct
  • StarHill Gbl : Annualised DPU = 3.85ct
  • CRCT : Annualised DPU = 8.68ct ; No Payout as Semi-Annual Payout Policy
  • FCT : Actual Payout 1.33ct (0.73ct was paid on 15-Mar-10 for the Period 1-Jan-10 to 3-Feb-10) ; $1.1M Retained for Future Distribution
  • FirstREIT : Annualised DPU 7.71ct
  • FrasersComm : Annualised DPU = 1.13ct
  • Cambridge : Annualised DPU = 5.167ct
  • CMT : Annualised DPU = 9.04ct ; Retained Income (for Future Distribution) = $9.5M
  • KREIT : Annualised DPU = 5.39ct ; No Payout as Semi-Annual Payout Policy
  • 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%
  • CCT : Annualised DPU = 7.83ct ; No Payout as Semi-Annual Payout Policy
  • CLT (IPO) : IPO Forecast – 7.65ct (FY10) ; 7.78ct (FY11) ; IPO Close : 8-Apr-10 12pm ; Listing : 12-Apr-10 2pm ; IPO Prospectus
  • CRCT : Q409 DPU 2.04ct (Annualised 8.09ct)
  • 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%
  • 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)
  • 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$

Q1 – Mar10

0.793

$0.280

11.329%

$0.40

Shipping Trust

FSL Trust

Q1 – Mar10

1.5

$0.380

22.017%

$0.62

Shipping Trust

Rickmers

Q1 – Mar10

0.57

$0.365

8.710%

$0.94

Shipping Trust

NOTES :

  • All in US$ except for Rickmers and FSL Mkt Price (Yield Computed Using Latest Exchange Rate S$1.3944:US$1 fm Yahoo Finance)
  • Rickmers : 13% Payout
  • PST : 70% Payout
  • FSL : 55% Payout ; Q210 DPU Guidance = US1.5ct

   
 

Other Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

CitySpring

Q4 – Mar10

1.05

$0.590

7.119%

$0.43

Infrastructure – Water, Gas

HyfluxWaterT

Q1 – Mar10

1.16

$0.660

7.030%

$0.73

China – Water Plant

K-Green

FY11

7.82

$1.050

7.448%

$1.12

Energy (Incineration) + Water (NEWater)

AscendasIndT

2H – Mar10

3.64

$0.940

7.745%

$0.90

India – Industrial Park

Indiabulls

Q4 – Mar10

—

$0.245

—

$0.54

India – Office

NOTES :

  • K-Green : DPU – FY10 (6mths) = 3.91ct ; FY11 = 7.82ct ; Circular (31-May-10) ; Listing – 29-Jun-10 9am
  • CitySpring : The Group NAV per unit before hedging and translation reserves is S$0.49 ; Guidance for FY11 DPU = 4.2ct
  • HWT : No Payout as Semi-Annual Payout Policy
  • Indiabulls : No DPU Declared
  • HWT : 2H09 DPU = 2.86ct (With Sponsor Waiver) ; Sponsor DPU = 2.03ct
  • 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, 2010 Yield No Comments »

May 2010

Results Announcement

  • 4 May 10 : Fortune (Tables Updated)
  • 6 May 10 : PLife (Tables Updated)
  • 6 May 10 : LMIR (Tables Updated)
  • 8 May 10 : IndiaBulls (Updated NAV Only)
  • 12 May 10 (AM) : Saizen (Tables Updated)
  • 12 May 10 : AIMSAMPReit (Tables Updated)
  • 13 May 10 (noon) : HWT (Table Updated)
  • 22 May 10 : CitySpring (Table Updated)

 
 

REITs : Average Yield = 7.431% (Excl. Saizen)

REIT

Period

DPU cts

Mkt

Yield

NAV

Gearing

Assets Type

Cambridge

Q1 – Mar10

1.274

$0.475

10.878%

$0.59

42.60%

Industrial

LippoMapleT

Q1 – Mar10

1.2

$0.460

10.435%

$0.84

10.24%

Malls (Indonesia)

AIMSAMPIReit

Q4 – Mar10

0.5376

$0.220

9.775%

$0.31

28.90%

Industrial

First REIT

Q1 – Mar10

1.9

$0.830

9.289%

$0.98

15.70%

Hospitals + Hotel (Indonesia)

CACHE

FY10 – IPO

7.65

$0.945

8.095%

$0.87

25.90%

Industrial

SuntecReit

Q1 – Mar10

2.513

$1.260

8.089%

$1.75

33.40%

Malls + Office

FraserComm

1H – Mar10

0.5619

$0.140

8.071%

$0.27

40.10%

Malls + Office (S’pore and Aust)

CapitaRChina

Q1 – Mar10

2.14

$1.130

7.681%

$1.07

33.80%

Malls (China)

Fortune Reit HK$

Q1 – Mar10

6.38

$3.420

7.462%

$5.19

23.70%

Malls (HK)

MapletreeLog

Q1 – Mar10

1.5

$0.820

7.317%

$0.85

38.60%

Industrial

Starhill Gbl

Q1 – Mar10

0.95

$0.545

7.064%

$0.81

29.30%

Malls + Office

CapitaComm

Q1 – Mar10

1.93

$1.140

6.868%

$1.37

32.20%

Office

FrasersCT

Q2 – Mar10

2.06

$1.290

6.388%

$1.23

31.40%

Malls

AscottREIT

Q1 – Mar10

1.66

$1.070

6.206%

$1.32

42.10%

Serviced Apts (Regional)

PLife REIT

Q1 – Mar10

2.07

$1.340

6.179%

$1.37

28.20%

Hospitals

Ascendasreit

Q4 – Mar10

2.73

$1.880

5.809%

$1.55

31.60%

Industrial

CDL Htrust

Q1 – Mar10

2.32

$1.700

5.535%

$1.41

30.90%

Hotels

K-REIT

Q1 – Mar10

1.33

$1.060

5.085%

$1.47

25.20%

Office

CapitaMall

Q1 – Mar10

2.23

$1.820

4.967%

$1.54

32.40%

Malls + Office

SaizenREIT

Q3 – Mar10

0

$0.155

0.000%

$0.39

36.90%

Residential (Japan)

NOTES :

  • Mkt Price is as on 31-May-10
  • AIMSAMPIReit : Annualised = 2.1504ct
  • PLife : Annualised DPU = 8.28ct
  • Fortune : No Payout as Semi-Annual Payout Policy
  • CDLHTrust : Annualised = 9.41ct ; No Payout as Semi-Annual Payout Policy
  • AscottREIT : No Payout as Semi-Annual Payout Policy
  • Suntec : Annualised DPU = 10.192ct
  • StarHill Gbl : Annualised DPU = 3.85ct
  • CRCT : Annualised DPU = 8.68ct ; No Payout as Semi-Annual Payout Policy
  • FCT : Actual Payout 1.33ct (0.73ct was paid on 15-Mar-10 for the Period 1-Jan-10 to 3-Feb-10) ; $1.1M Retained for Future Distribution
  • FirstREIT : Annualised DPU 7.71ct
  • FrasersComm : Annualised DPU = 1.13ct
  • Cambridge : Annualised DPU = 5.167ct
  • CMT : Annualised DPU = 9.04ct ; Retained Income (for Future Distribution) = $9.5M
  • KREIT : Annualised DPU = 5.39ct ; No Payout as Semi-Annual Payout Policy
  • 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%
  • CCT : Annualised DPU = 7.83ct ; No Payout as Semi-Annual Payout Policy
  • CLT (IPO) : IPO Forecast – 7.65ct (FY10) ; 7.78ct (FY11) ; IPO Close : 8-Apr-10 12pm ; Listing : 12-Apr-10 2pm ; IPO Prospectus
  • CRCT : Q409 DPU 2.04ct (Annualised 8.09ct)
  • 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%
  • 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)
  • 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$

Q1 – Mar10

0.793

$0.275

11.535%

$0.40

Shipping Trust

FSL Trust

Q1 – Mar10

1.5

$0.450

18.663%

$0.62

Shipping Trust

Rickmers

Q1 – Mar10

0.57

$0.340

9.386%

$0.94

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)
  • Rickmers : 13% Payout
  • PST : 70% Payout
  • FSL : 55% Payout ; Q210 DPU Guidance = US1.5ct

   
 

Other Trusts (non-REITs)

Trust

Period

DPU cts

Mkt

Yield

NAV

Assets Type

CitySpring

Q4 – Mar10

1.05

$0.595

7.059%

$0.43

Infrastructure – Water, Gas

HyfluxWaterT

Q1 – Mar10

1.16

$0.625

7.424%

$0.73

China – Water Plant

AscendasIndT

2H – Mar10

3.64

$0.905

8.044%

$0.90

India – Industrial Park

Indiabulls

Q4 – Mar10

—

$0.250

—

$0.5441

India – Office

NOTES :

  • CitySpring : The Group NAV per unit before hedging and translation reserves is S$0.49 ; Guidance for FY11 DPU = 4.2ct
  • HWT : No Payout as Semi-Annual Payout Policy
  • Indiabulls : No DPU Declared
  • HWT : 2H09 DPU = 2.86ct (With Sponsor Waiver) ; Sponsor DPU = 2.03ct
  • 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, 2010 Yield No Comments »