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sreitinvestor
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24-Apr-2010 16:17
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First quarter 2010 results for Capita Retail China Trust:
Key Points * Net property income of RMB93.9 million, resulting in income available for distribution of S$13.3 million for 1Q 2010. * The DPU for the quarter is 2.14 Singapore cents. * Gross revenue for 1Q 2010 was S$29.5 million, 2.9% or S$0.9 million lower than 1Q 2009. This is largely due to a 6.2% depreciation of RMB against SGD in 1Q 2010 from 1Q 2009. * NPI grew slightly by 1.2% or S$0.2 million year-on-year. http://sreitinvestor.blogspot.com/p/date-of-results-release.html |
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sreitinvestor
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23-Apr-2010 08:10
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First quarter 2010 results for Frasers Commercial Trust: Press Release Financial Statements Presentation SlidesKey Points * FCOT achieves an 82% increase in distributable income for 2Q DPU up 78%; total distributable income (including CPPU) up 167%. * Total distributable income was up by 167% year-on-year from S$5.42 million to S$14.48 million, of which S$4.65 million is available for distribution to Series A Convertible Perpetual Preferred Units (CPPU) holders. * Distributable income to Unitholders increased by 82% to S$9.84 million. * DPU of 0.32 cents, up by 78% from a year earlier and by 33% when compared to the preceding quarter. http://sreitinvestor.blogspot.com/p/date-of-results-release.html |
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sreitinvestor
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23-Apr-2010 08:05
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First quarter 2010 results for MapleTree Logistics Trust: Press Release Financial Statements Presentation SlidesKey Points * Amount distributable for 1Q 2010 rises by 8% year on year. * Improvement largely due to lower property expenses and decrease in borrowing costs as a result of proactive capital management to reduce interest costs and lower leverage for most of 1Q 2010 compared to 1Q 2009. * Available DPU of 1.50 cents for 1Q 2010 is 2% higher than 1Q 2009’s DPU of 1.47 cents. * Completed two acquisitions during the quarter - one each in Japan and Singapore. * Key changes in senior management effective 1 May 2010. * As at 31 March 2010, the Trust’s portfolio comprises 84 properties, with a book value of approximately S$3.0 billion. Of the 84 properties, 49 are in Singapore, 11 in Malaysia, 9 in Japan, 8 in Hong Kong, 6 in China, and 1 in South Korea. * The average occupancy rate of MapletreeLog’s portfolio remained steady at around 98% as at 31 March 2010. * As at 31 March 2010 the leverage ratio is 38.6%. |
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sreitinvestor
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17-Apr-2010 15:43
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Starhill Global enters into conditional sale and purchase agreements to acquire Starhill Gallery and Lot 10 for S$450.1 million. http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_1C9F66ED1459FA7048257707003F7997/$file/StarhillGbl_NewsRelease_ConditionalSPAgreement_16Apr2010_FINAL.pdf?openelement http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_F662FE5101A237F248257707003F1560/$file/StarhillGbl_SGX_Annmt_ConditionalSPAgreement_16Apr10_FINAL.pdf?openelement Key Points * The Reit has entered into conditional sale and purchase agreements to acquire Starhill REIT's interests in Starhill Gallery and Lot 10 Shopping Centre in KL for a total consideration of RM1,030.0 million (approximately S$450.1 million). * Starhill Gallery will be acquired for RM629.0 million (approximately S$274.9 million) and Lot 10 will be acquired for RM401.0 million (approximately S$175.2 million). * The acquisitions will be made through a tax efficient asset-backed securitisation (ABS) structure and will be funded by: o cash payment of RM300.0 million (approximately S$131.1 million) and the issuance of the S$ equivalent of RM405.0 million (approximately S$177.0 million) in convertible preferred units ("CPUs"). o the issuance of RM330.0 million (approximately S$144.2 million) of five-year senior medium term notes ("Senior MTNs") * About The CPUs: o will be classified as equity and therefore, will not result in an increase in Starhill Global REIT’s aggregate leverage. o conversion price will be fixed at a premium of 30% above the 5-day volume weighted average traded price of Starhill Global REIT’s units prior to and including the issue date. o can only be converted after three years from the date of issuance with a mandatory conversion at the end of seven years from the date of issuance. * The Properties will be leased to Katagreen Development Sdn Bhd (the "Master Tenant"), a wholly-owned subsidiary of YTL. o There will be a fixed tenancy term of 3+3+3 years commencing on the completion of the Acquisitions, at the aggregate annual rental of RM72.1 million (approximately S$31.5 million) for the first three-year term, RM77.3 million (approximately S$33.8 million) for the second three-year term and RM82.4 million (approximately S$36.0 million) for the third three-year term. o The payment obligations of the Master Tenant under the master tenancy agreement will be guaranteed by YTL. * PRO FORMA DPU: o Assuming that the Acquisitions were completed on 1 January 2009 and the CPUs were not converted, DPU for FY2009 would have increased by 13.0% or 0.50 cents to 4.36 cents. o Assuming full conversion of the CPUs on 1 January 2009, FY2009 DPU would have increased by 12.4% or 0.48 cents to 4.34 cents. * PRO FORMA NAV: o Assuming the Acquisitions were completed on 31 December 2009 and the CPUs were not converted, the NAV would have increased by 11.0% or 9.0 cents to S$0.91 per unit. o Assuming full conversion of the CPUs on 31 December 2009, the NAV would have declined marginally by 1.2% or 1.0 cent to S$0.81 per unit. * Upon completion of the Acquisitions, Starhill Global REIT’s aggregate leverage as at 31 December 2009 would have marginally increased from 26.9% to 29.0%. http://sreitinvestor.blogspot.com/2010/04/reit-financial-news-16-apr-2010_17.html | ||
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sreitinvestor
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10-Apr-2010 07:41
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The Cache Logistics Trust IPO Balloting Result is already out:
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_E25B8BBA81EA101E482577000053F741/$file/CLT.pdf?openelement Not a bad start for the Reit, which is 7.8 times subscribed overall. The units offered to the Public itself is 20 times subscribed. We shall look at the price movement when the units start to trade coming monday on 12 Apr 2010. The counter code for Cache Logistics Trust is already available at the SGX website: K2LU. -------------------------------------------------------------------- More about REITs http://sreitinvestor.blogspot.com |
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sreitinvestor
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04-Apr-2010 08:54
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IPO of Cache Logistics Trust For its IPO, CLT will be offering 474,108,000 Units at the price of S$0.88 per Unit. This will raise about S$417 million for the Trust. The IPO proceeds will be used to fund new properties and as working income. The units are expected to be traded on the SGX on 12 April 2010. Some key information from the prospectus: Initial Portfolio Size/Asset Value: S$729.9 million Initial Gearing: 25.9% Distribution policy: distribute 100% of its income until 31 December 2011, and at least 90% of its income thereafter. Projected Distribution yield based on the IPO price of S$0.88: 8.70% for 2010 and 8.82% for 2011. -------------------------------------------------------------------- More about REITs http://sreitinvestor.blogspot.com |
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sreitinvestor
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27-Mar-2010 08:36
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Dual listing of Fortune REIT passed in EGM. NOTICE OF RESULTS OF EXTRAORDINARY GENERAL MEETING. See report. Key Points
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pharoah88
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04-Mar-2010 11:22
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A NEW PARADIGM Suntec REIT: Suntec Convention in tie up with Resorts World Sentosa Summary: Suntec City Convention (SCC) has announced an exclusive partnership with Resorts World Sentosa (RWS). The two properties will cross-sell each other to “create real business opportunities for both venues”. For instance, guests and delegates can attend exhibitions and day meetings at SCC before going to RWS for after-hours social functions. The scope of the agreement includes joint sales calls, customized proposals and event concepts. This is a smart move, in our opinion: SCC can capitalize on the IR hype and also offer a competitive counterpoint to the MICE facilities offered by Marina Bay Sands. SCC is held by private real estate fund, ARA Harmony Fund. Suntec REIT has a 20% stake in this fund. In an interview with the Business Times on 02 Mar, the CEO of Suntec’s manager, ARA Asset Management [NOT RATED], re-iterated that Suntec could potentially acquire all of SCC in “two or three years” time if the asset can be re-positioned to earn a greater proportion of stable income. We maintain our BUY rating on Suntec REIT with an S$1.44 fair value estimate. As for Genting Singapore, the parent company of RWS, we believe that the collaboration will allow it to effectively increase its convention and exhibition capabilities. We also have a BUY on Genting with a S$1.04 fair value estimate. As discussed in the sector report out today, Suntec is now one of our two top picks for the S-REIT sector. (Meenal Kumar) |
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sreitinvestor
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03-Mar-2010 18:03
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Fortune Reit closes at 52 weeks high of HKD 3.41 today.
The Reit closes at HKD 3.01 on Feb 24 prior to the announcement about the dual listing. At the closing price today, the price has moved up by about 13%.
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sreitinvestor
Member |
25-Feb-2010 10:13
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Fortune REIT seeks dual-primary listing in Hong Kong by way of introduction: 24 February 2010. ARA Asset Management (Fortune) Limited (the “Manager” ), as manager of Fortune Real Estate Investment Trust (“Fortune REIT”), wishes to announce that the Manager is seeking a dual primary listing of Fortune REIT’s units (“Units”) on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”) by way of introduction (the “Introduction”). See related reports: Press Release Proposal -------------------------------------------------------------------- More about REITs http://sreitinvestor.blogspot.com |
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sreitinvestor
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17-Feb-2010 08:37
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A-REIT to enhance portfolio with proposed acquisitions of three properties totalling S$228.5 million. See related reports: Press Release Presentation Slides Key Points
Key Points for Acquisition of DBS Asia Hub
Key Points for Acquisition of 31 Joo Koon Circle
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sreitinvestor
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20-Jan-2010 14:06
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CapitaCommercial Trust - Financial Results for 4Q FY2009/10 ending 31 Dec 2009. Related reports: Key Points
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sreitinvestor
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18-Jan-2010 22:23
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Ascendas Reit - Financial Results for 3Q FY2009/10 ending 31 Dec 2009. Related reports: * Press Release * Financial Statements * Presentation Slides * Notice of Book Closure Key Points * DPU for the quarter at 3.27 cents compared with 2.88 cents in 3Q FY2008/09. * Occupancy rate for the portfolio moderated slightly to 96.5% from 96.8% a quarter ago. * As at 31 December 2009, A-REIT has a portfolio of 91 properties with a total asset value of about S$4.8b. * The Manager is in the process of refinancing its S$300m term loan facility due in March 2010. * As at 31 December 2009, the weighted average cost of funding is about 3.91% with a healthy aggregate leverage of 31.2%. * Latest Net Asset Value (NAV) per unit is S$1.61. * Books will be closed at 5.00 p.m. on Tuesday, 26 January 2010 for the purpose of determining unitholders' entitlements. * Distribution will be paid on Friday, 26 February 2010. Based on the closing price of 2.02 on Jan 18, the DPU of 3.27 cents represents an annualized yield of 6.48%. Gearing is at 31.2%. Latest NAV per unit is S$1.61. __________________ More about REITs sreitinvestor.blogspot.com |
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sreitinvestor
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10-Jan-2010 22:43
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For Kreit, better to use proforma figures post rights issue. Post rights, NAV is also 1.49. Proforma annual DPU is 60.8 cents. In the Kreit Asia Investor meetings Dec 2009, Singapore Office Sector outlook is rather positive, with general consensus that recovery will kick in in 2010. If that really happens, it should be positive for office rent and property prices. But personally i have bought Kreit when it was below S$1. At the current price i will probably not chase it.
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candle
Member |
10-Jan-2010 16:57
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KReit yield is abt 7-8% at $1.19 and NAV reported in Jun09 was abt $2.17 CCT yield is abt 5-6% at $1.15 and NAV reported in Oct09 was abt $1.49. we see property price picking up. but office rent is still at its lowest If economy picking up, so will the office rent ? |
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sreitinvestor
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09-Jan-2010 22:52
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Kreit has touched S$1.2 last week, surpassing its peer CCT. Interestingly, when Kreit was around 0.985 post rights, CCT was around S$1.1. Perhaps market is seeing value in Kreit's low gearing post rights. _________________ More about REITs [URL="http://sreitinvestor.blogspot.com"]sreitinvestor.blogspot.com[/URL] |
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sreitinvestor
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07-Jan-2010 23:44
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7 January 2010 - Frasers Centrepoint Asset Management Ltd. (the "Manager"), the manager of Frasers Centrepoint Trust (“FCT”),
is pleased to announce the proposed acquisitions of Northpoint 2 and
YewTee Point. Details in report and Press Release. Key Points * The purchase consideration for Northpoint 2 is S$164.55 million. * The purchase consideration for YewTee Point is S$125.65 million. * The Manager proposes an equity fund raising (“EFR”) of up to 152.0 million new units ("New Units") to part finance the acquisitions with the balance to be funded by borrowings. * FCT Unitholders will meet in an Extraordinary General Meeting (“EGM”) scheduled on 25 Jan 2010 to vote on the proposed transactions. * FCT’s portfolio value will grow from S$1.2 billion to S$1.5 billion. * The Equity Fund Raising may comprise any one or a combination of two or more of the following: - a placement of New Units to institutional and other investors (the "Private Placement") - an offering of New Units to retail investors in Singapore through the automated teller machines of participating banks (the "ATM Offering") - a non-renounceable preferential offering of New Units to the then Unitholders on a pro rata basis (the "Preferential Offering") __________________ More about REITs sreitinvestor.blogspot.com |
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sreitinvestor
Member |
05-Jan-2010 09:19
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Starhill Global surges up to 0.55: Starhill Global closes at day high of 0.55 (+0.025) on 4 Jan 2010 at high volume of 15,304,000 units. This is despite the news of demise of Franklin Heng, CEO of the Reit's Manager, YTL Pacific Star REIT Management Limited, released on 31 Dec 2009. The previous week, the stock was sold down to as low as 0.505 at high volume. The closing price of 0.55 is also the highest for the past one month plus. _________________ More about REITs sreitinvestor.blogspot.com |
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Zelphon
Senior |
01-Jan-2010 15:00
Yells: "Hauttttttttt AHhhhhhhh !!!" |
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Buy Mapletree Log la.. Me vested... LOL... Help push up the price... Me looking at Saizen now... ______________________________________________________________________________ ANNOUNCEMENT LEASE EXTENSION TO PRIMA LIMITED FOR PROPERTY AT 201 KEPPEL ROAD SINGAPORE Mapletree Logistics Trust Management Ltd., as manager (“Manager”) of Mapletree Logistics Trust (“MapletreeLog”), wishes to announce that, at the request of Prima Limited (“Prima”), the respective leases and licences for 201 Keppel Road Singapore (the “Property”) with Prima have been extended for 8 years from 1 May 2019 to 30 April 2027. The documentation was signed today and rental escalation rate during the extension period will be 5% per annum. In consideration for agreeing to this extension for 8 years, MapletreeLog will receive a onetime amount of S$2.5 million from Prima. After deducting related costs, this will increase MapletreeLog’s distribution for 4Q 2009 by about 0.11 cents per unit. The Manager also wishes to inform that the Audit Committee of the Manager has reviewed and approved the extension, since MapletreeLog’s sponsor Mapletree Investments Pte Ltd (“MIPL”) has similarly been requested by Prima to defer its right under the Mapletree (Prima) Call Option Agreement (as stated in the Prospectus dated 18 July 2005) for a period of 8 years and MIPL has agreed to the extension. Apart from this, there is no material change to the other terms of the Mapletree (Prima) Call Option Agreement. By Order of the Board Wan Kwong Weng Joint Company Secretary Mapletree Logistics Trust Management Ltd. (Company Registration No. 200500947N) As Manager of Mapletree Logistics Trust 31 December 2009 |
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nickyng
Supreme |
01-Jan-2010 12:53
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well..the premium over NAV is ridiculous at this level...i think 2010 will see some adjustment :P there are other comparable REITS at reasonable pricing for accumulation...pass on this :P
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