Charities Contribution
Attention to Readers of Singapore REITs
Thank you for taking the time in expressing your view on the poll that was conducted from Nov 22 to Nov 30 2011. Children and Youth has the highest number of votes during the polling period. Thus, we have decided to donate to the Children’s Aid Society.
| CHARITY / PROGRAMME | AMOUNT |
| Children’s Aid Society | $290.00 |
Gearing – December 2011
New Data (Major Shareholders) for the Month
- 14 Dec 11 : Cambridge – Templeton from 6.13% to 7.04% (12-Dec-11)
|
REIT |
Assets |
Debts |
Gearing |
Shares |
Major Shareholders |
|
A-REIT |
S$5745M |
S$1805M |
31.5% |
2,082,410,675 |
Ascendas 20.66% |
|
AIMSAMPIReit |
S$884M |
S$265M |
30.0% |
443,852,000 |
AMP 14.66% ; Dragon Pacific 11.92% ; APG 9.37% ; USS 8.15% ; George Wang 7.15% ; Stitching 7.31% ; UBS 5.76% ; Lion 6.98% |
|
AscottREIT |
S$2794M |
S$1118M |
41.1% |
1,127,380,000 |
Temasek 48.01% |
|
Cambridge |
S$1108M |
S$367M |
33.1% |
1,189,198,368 |
MacKenzie 6.03% ; Templeton 7.04% ; Capital Grp 5.9153% |
|
CapitaRChina |
S$1376M |
S$440M |
31.4% |
688,829,911 |
Capitaland 40.04% (CMT 20%) ; Capital Grp 8.4997% ; AIA 6.3986% ; PGGM 5.946% |
|
CCT |
S$6155M |
S$1688M |
27.4% |
2,829,871,567 |
Temasek 31.97% ; Capital Group 5.9569% ; CBRE 5.73% |
|
CDL HTrust |
S$2004M |
S$532M |
26.5% |
963,253,718 |
Hong Leong 35.19% ; BOA 5.05% ; Daiwa 5.45% |
|
CLT |
S$832M |
S$249M |
30.4% |
637,827,371 |
CWT 11.92% ; JF Asset Mgmt 6.5% ; Capital Grp 6.0609% ; JPM 6.02% |
|
CMT |
S$8572M |
S$3222M |
38.4% |
3,188,029,501 |
Temasek 29.65% ; NTUC 5.98% ; Capital Grp 7.9798% |
|
First REIT |
S$648M |
S$48M |
16.4% |
627,680,294 |
Lippo 20.3% ; CIM 5.9% |
|
Fortune |
HK$15688M |
HK$2910M |
18.1% |
1,677,297,276 |
Cheung Kong 32.35% ; Schroder 10.042% ; Temasek 6.02% |
|
FrasersCT |
S$1787M |
S$559M |
31.3% |
822,003,088 |
F&N 51% ; AIA 6.0126% ; Capital Group 7.4585% |
|
FrasersComm |
S$2042M |
S$748M |
36.6% |
634,337,998 |
F&N 24.4% |
|
K-REIT |
S$3254M |
S$1152M |
39.8% |
1,361,615,122 |
Temasek 45.46% ; AIA 7.38% |
|
LMIR |
S$1229M |
S$125M |
10.2% |
1,086,516,497 |
Lippo 29.5% ; Stitching 9.95% ; CPI-Capital 8.5% ; ABN AMRO 6.51% ; Sumitomo 5.03% |
|
MCT |
S$2931M |
S$1125M |
38.5% |
1,862,275,000 |
Temasek 75.16% |
|
MIT |
S$2716M |
S$1069M |
39.2% |
1,628,170,120 |
Temasek 31.63% ; Capital Grp 6.23% ; APG 5.10% |
|
MLT |
S$3893M |
S$1603M |
41.3% |
2,426,317,966 |
Temasek 44.41% ; Capital Grp 7.14% ; BOA 6.84% ; Alliance Global Prop 6.32% ; Mellon Corp 5.02% |
|
PLife |
S$1397M |
S$512M |
36.6% |
604,970,000 |
Newbridge 44.9% (Parkway + TPG Capital) ; Newton (Bank of New York) 10.25% ; Sunil 6.03% |
|
Sabana |
S$934M |
S$221M |
23.8% |
636,145,601 |
Kua Family 8.1124% ; Moore 6.38% ; Al Salam Bank 5.14% |
|
Saizen |
JPY40,044M |
JPY12,855M |
24.0% |
1,229,375,481 |
V-Nee Yeh (ASM, HCL) 18.14% |
|
Starhill Gbl |
S$2794M |
S$840M |
30.1% |
1,943,023,078 |
YTL 28.90% ; AIA 9.96% |
|
Suntec |
S$7026M |
S$2822M |
39.9% |
2,224,519,933 |
Asean Inv 5.4439% ; Shaw 5.81% ; Cheng YT 5.81% |
Notes :
- This table will be updated only as and when new data are available
- The Major Shareholders data may not be up-to-date. Pls chk SGX Annc to verify
Performance – November 2011
STI -15.28% : 2702.46 (Nov-11) vs 3190.04 (2010)
Rank – Capital Gains
|
REIT |
Nov-11 |
Dec-10 |
Gain |
|
First REIT |
$0.780 |
$0.705 |
10.6% |
|
PLife REIT |
$1.815 |
$1.650 |
10.0% |
|
MCT |
$0.875 |
$0.880 |
-0.6% |
|
Ascendasreit |
$2.040 |
$2.070 |
-1.4% |
|
CLT |
$0.945 |
$0.965 |
-2.1% |
|
MIT |
$1.065 |
$1.090 |
-2.3% |
|
FrasersCT |
$1.440 |
$1.500 |
-4.0% |
|
CapitaRChina |
$1.170 |
$1.240 |
-5.6% |
|
FCOT |
$0.770 |
$0.825 |
-6.7% |
|
StarHill |
$0.575 |
$0.625 |
-8.0% |
|
Sabana REIT |
$0.875 |
$0.975 |
-10.3% |
|
CapitaMall |
$1.745 |
$1.950 |
-10.5% |
|
Cambridge |
$0.470 |
$0.530 |
-11.3% |
|
AIMSAMPIReit |
$0.965 |
$1.100 |
-12.3% |
|
MapletreeLog |
$0.830 |
$0.965 |
-14.0% |
|
SaizenREIT |
$0.140 |
$0.165 |
-15.2% |
|
Fortune Reit HK$ |
$3.190 |
$4.000 |
-20.3% |
|
AscottREIT |
$0.955 |
$1.220 |
-21.7% |
|
SuntecReit |
$1.130 |
$1.500 |
-24.7% |
|
CDL Htrust |
$1.480 |
$2.080 |
-28.8% |
|
CapitaComm |
$1.065 |
$1.500 |
-29.0% |
|
LippoMapleT |
$0.375 |
$0.530 |
-29.2% |
|
K-REIT |
$0.865 |
$1.410 |
-38.7% |
NOTES :
- Not Adjusted for Rights or New Issues Which May Be at a Discount
- AIMSAMPIReit : 5-to-1 Share Consolidation
- MCT : Listed on 27-Apr-11 @ $0.88
- FCOT : 5-to-1 Share Consolidation
- Nov-11 : End Nov-11 Mkt Price
- Dec-10 : End Dec-10 Mkt Price
- Gain : Capital Gains = (Nov-11 Mkt Price – Dec-10 Mkt Price) / (Dec-10 Mkt Price)
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)
Gearing – November 2011
New Data (Major Shareholders) for the Month
- 1 Nov 11 : Fortune – Schroder from 9.918% to 10.042% (28-Oct-11)
- 23 Nov 11 : CLT – C&P (CWT) from 12.13% to 11.92% (23-Nov-11)
- 23 Nov 11 : Cambridge – Templeton from 5.39% to 6.13% (18-Nov-11)
|
REIT |
Assets |
Debts |
Gearing |
Shares |
Major Shareholders |
|
A-REIT |
S$5745M |
S$1805M |
31.5% |
2,082,410,675 |
Ascendas 20.66% |
|
AIMSAMPIReit |
S$884M |
S$265M |
30.0% |
443,852,000 |
AMP 14.66% ; Dragon Pacific 11.92% ; APG 9.37% ; USS 8.15% ; George Wang 7.15% ; Stitching 7.31% ; UBS 5.76% ; Lion 6.98% |
|
AscottREIT |
S$2794M |
S$1118M |
41.1% |
1,127,380,000 |
Temasek 48.01% |
|
Cambridge |
S$1108M |
S$367M |
33.1% |
1,189,198,368 |
MacKenzie 6.03% ; Templeton 6.13% ; Capital Grp 5.9153% |
|
CapitaRChina |
S$1376M |
S$440M |
31.4% |
688,829,911 |
Capitaland 40.04% (CMT 20%) ; Capital Grp 8.4997% ; AIA 6.3986% ; PGGM 5.946% |
|
CCT |
S$6155M |
S$1688M |
27.4% |
2,829,871,567 |
Temasek 31.97% ; Capital Group 5.9569% ; CBRE 5.73% |
|
CDL HTrust |
S$2004M |
S$532M |
26.5% |
963,253,718 |
Hong Leong 35.19% ; BOA 5.05% ; Daiwa 5.45% |
|
CLT |
S$832M |
S$249M |
30.4% |
637,827,371 |
CWT 11.92% ; JF Asset Mgmt 6.5% ; Capital Grp 6.0609% ; JPM 6.02% |
|
CMT |
S$8572M |
S$3222M |
38.4% |
3,188,029,501 |
Temasek 29.65% ; NTUC 5.98% ; Capital Grp 7.9798% |
|
First REIT |
S$648M |
S$48M |
16.4% |
627,680,294 |
Lippo 20.3% ; CIM 5.9% |
|
Fortune |
HK$15688M |
HK$2910M |
18.1% |
1,677,297,276 |
Cheung Kong 32.35% ; Schroder 10.042% ; Temasek 6.02% |
|
FrasersCT |
S$1787M |
S$559M |
31.3% |
822,003,088 |
F&N 51% ; AIA 6.0126% ; Capital Group 7.4585% |
|
FrasersComm |
S$2042M |
S$748M |
36.6% |
634,337,998 |
F&N 24.4% |
|
K-REIT |
S$3254M |
S$1152M |
39.8% |
1,361,615,122 |
Temasek 45.46% ; AIA 7.38% |
|
LMIR |
S$1229M |
S$125M |
10.2% |
1,086,516,497 |
Lippo 29.5% ; Stitching 9.95% ; CPI-Capital 8.5% ; ABN AMRO 6.51% ; Sumitomo 5.03% |
|
MCT |
S$2931M |
S$1125M |
38.5% |
1,862,275,000 |
Temasek 75.16% |
|
MIT |
S$2716M |
S$1069M |
39.2% |
1,628,170,120 |
Temasek 31.63% ; Capital Grp 6.23% ; APG 5.10% |
|
MLT |
S$3893M |
S$1603M |
41.3% |
2,426,317,966 |
Temasek 44.41% ; Capital Grp 7.14% ; BOA 6.84% ; Alliance Global Prop 6.32% ; Mellon Corp 5.02% |
|
PLife |
S$1397M |
S$512M |
36.6% |
604,970,000 |
Newbridge 44.9% (Parkway + TPG Capital) ; Newton (Bank of New York) 10.25% ; Sunil 6.03% |
|
Sabana |
S$934M |
S$221M |
23.8% |
636,145,601 |
Kua Family 8.1124% ; Moore 6.38% ; Al Salam Bank 5.14% |
|
Saizen |
JPY40,044M |
JPY12,855M |
24.0% |
1,229,375,481 |
V-Nee Yeh (ASM, HCL) 18.14% |
|
Starhill Gbl |
S$2794M |
S$840M |
30.1% |
1,943,023,078 |
YTL 28.90% ; AIA 9.96% |
|
Suntec |
S$7026M |
S$2822M |
39.9% |
2,224,519,933 |
Asean Inv 5.4439% ; Shaw 5.81% ; Cheng YT 5.81% |
Notes :
- This table will be updated only as and when new data are available
- The Major Shareholders data may not be up-to-date. Pls chk SGX Annc to verify