Friday, October 24, 2014

CapitalRetail China Trust 3QFY2014

Revenue                                         = RMB 253,708,000
NPI                                                 = RMB 159,326,000
Income Available For Dist            =  $19,484,000
DPU                                               = 2.35 cents (2.13 cents for 2Q2013)
NAV                                               = $1.47 (net of dist)
Gearing                                           = 30.8%
Net Debt/EBITDA                          = 5.9
Interest Cover                                  = 5.4
Avg Term To Maturity                   = 2.16
Avg Cost Of Debt                           = 3.47%

Tuesday, October 21, 2014

SoilBuild 3QFY2014

Revenue                                 = $16,916,000
NPI                                         = $14,193,000
Distributable Income              = $12,539,000
DPU                                        = 1.546 cents
Borrowings                              = $289m
NAV                                        = 80 cents
Aggregate Leverage                = 30.3%
All-In Interest Rate                  = 3.08%
Interest Cover                          = 5.1
Weighted Avg Debt Maturity  = 2.0 years
S&P Ratings                            = BBB-

SuntecReit 3QFY2014

Gross revenue                                  = $71.5m
Net Property Income                       = $48.8m
Income Available For Distribution  =$58.3m
DPU                                                  = 2.328 cents

Total Assets  =   $8,365m
Total Debts   =   $3,087m
Net Assets     =  $5,144m
NAV              = $2.033

Outstanding Debt     = $2.907b
Debt-to-Asset Ratio = 34.4%
Interest Cover          = 4.6

Corporate Rating = "Baa2"
Average All-in Financing Cost  = 2.42%

Friday, October 17, 2014

FirstReit 3QFY2014


Gross Revenue                                    $23,843,000
NPI                                                      $23,452,000
Distributable Income                           $14,688,000
DPU                                                     2.02 cents
NAV                                                     96.99 cents
Gearing                                                 below 35%

No refinancing needs till 2017.It provide an yield of 6.8% based on annualized dpu at a share price of $1.19/..

Thursday, October 16, 2014

KREIT 3QFY2014

Property Income                               = $47,628K
Net Property Income                        = $38,524K
Share Of Results Of Associates        = $14,401K
Rental Support                                  = $12,655K
Income Available For Distribution   = $52,027K
DPS                                                    = 1.85 cents
All-In Interest Rate                            = 2.2%
Weighed Avg Term Of Expiry          = 3.5 years
Interest Cover                                     = 5.1
Percentage Fixed Of Debt                  = 72%
Total Borrowing                                 = $2,888m
NAV                                                   = $1.39
Aggregate Leverage                            = 42.1%

SPH FY2014

 Profit & Loss (Before Taxation)

Newspaper & Magazine              $246,381,000
Property                                       $239,397,000
Treasury & Investment                $30,419,000
Others                                           $12,194,000

Newspaper & Magazine segment decrease by 16% yoy and now form slightly less than half of overall PBT.Decline was basically due to lower advertisement revenue.Partial divestment in 701Search result in a gain in Others segment.Hardcopy ST circulation decrease  but digital increase yoy.Seletar Mall is target to open in Nov 2014.Final Dividend of 14 cents declared for FY2014.

With a total dividend of 21 cents at a current price of $4.16 per share, it is operating more like a pseudo bond of 5%.Do not expect too much in term of price appreciation, just get your 5% and hope and business fundamental do no deteriorate too much from here.

Saturday, September 20, 2014

The $50m Dollar Man!!!

This is the $50m dollar Man!!!!He wrote in his weibo blog, "looking forward to $50m in my Cash Vault!"