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revenue from retail rentals and 47% from office leases. We think that the MBFC1 acquisition will help to boost the proportion of office to retail mix for Suntec, and help mitigate some of the topline effects of thinning traffic at Suntec City Mall, but this is, nonetheless, still a temporary fix.
Maintain Hold. We recognize that the MBFC1 transaction has long-term strategic benefits, and provides Suntec with exposure to "Premium Grade A" properties in Singapore.
The acquisition will also enable greater income diversification, with NPI contribution from Suntec City estimated to reduce from 75.9% to 58.9%. However, the initial NPI yield of 4% in FY11 provides little upside in comparison with its average distribution yield of 7.1%, in our opinion.
At 41.5% gearing, it is also one of the highest leveraged S-REITs among the 25 listed on SGX, with little debt headroom for further acquisitions in 2011.
Maintain HOLD with a revised fair value of S$1.55. (Ong Kian Lin)
ADVANCED DISTRIBUTION
Further to its announcement dated 29 November 2010 (“
Unitholders of Suntec REIT whose securities accounts with The Central Depository (Pte) Limited are credited with Units as at 5.00 p.m. on 8 December 2010 will be entitled to the Advanced Distribution that will be paid on 5 January 2011.
For the avoidance of doubt, the New Units issued under the Private Placement (as defined in the Announcement) and the Deferred Units (as defined in its announcement dated 9 December 2010) will not be entitled to the Advanced Distribution. All Units will be entitled to the distribution for the period from 9 December 2010 to 31 December 2010.
By Order of the Board
ARA Trust Management (Suntec) Limited
(Company registration no. 200410976R)
(as manager of Suntec Real Estate Investment Trust)
Yeo See
Announcement”) in relation to the intention to declare an Advanced Distribution (as defined in the Announcement), the Board of Directors of ARA Trust Management (Suntec) Limited, in its capacity as manager of Suntec REIT (the Manager”), is pleased to announce that an Advanced Distribution of 1.723 cents per unit in Suntec REIT (“Unit”) which comprises a taxable income component of 1.630 cents per Unit and a tax-exempt income component of 0.093 cents per Unit will be paid on 5 January 2011.
Huh? So fast?
Hulumas ( Date: 21-Dec-2010 20:46) Posted:
I start taking profit tomorrow!
Sept11 ( Date: 07-Dec-2010 10:58) Posted:
Anyone bought this counter this morning? It's flying now....
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I start taking profit tomorrow!
Sept11 ( Date: 07-Dec-2010 10:58) Posted:
Anyone bought this counter this morning? It's flying now....
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SUNTEC Reit announces details of Advanced Distribution.
Key Points
- Advanced Distribution of 1.723 cents per unit in Suntec REIT (“Unit”) which comprises a taxable income component of 1.630 cents per Unit and a tax-exempt income component of 0.093 cents per Unit will be paid on 5 January 2011.
- Unitholders of Suntec REIT whose securities accounts with The Central Depository (Pte) Limited are credited with Units as at 5.00 p.m. on 8 December 2010 will be entitled to the Advanced Distribution that will be paid on 5 January 2011.
- The New Units issued under the Private Placement (as defined in the Announcement) and the Deferred Units (as defined in its announcement dated 9 December 2010) will not be entitled to the Advanced Distribution.
- All Units will be entitled to the distribution for the period from 9 December 2010 to 31 December 2010.
SUNTEC Reit issues final tranche of 34,500,360 deferred units.
- 34,500,360 units in Suntec REIT (the “Deferred Units”) has been issued to Suntec City Development Pte Ltd, the last of six instalments of deferred units in Suntec REIT in part satisfaction of the purchase consideration for Suntec REIT’s initial portfolio of properties in its initial public offering.
- With this issue of Deferred Units, together with the private placement of 313,000,000 new units in Suntec REIT (the “New Units”) issued at an issue price of S$1.37 per New Unit (the “Private Placement”) today, the total number of units in Suntec REIT (“Units”) in issue is 2,194,862,143.
- The Deferred Units and New Units will commence trading on the Main Board of Singapore Exchange Securities Trading Limited (the “SGX-ST”) at 2.00 p.m. today.
Anyone bought this counter this morning? It's flying now....
Congrats to those who have listen to my advice to buy when Suntec REIT is still around 1.41-1.42. In just less than 3 day, it surge to 1.48-1.49 that u guys see now.
Sept11 ( Date: 01-Dec-2010 12:12) Posted:
I dun believe those analyst crap even though i am phillip securities client. How many of u still haven't learn the lessons when all buy call for GentingSP when it's @ the peak of $2.3x something? Look @ the price now....
bsiong ( Date: 01-Dec-2010 11:33) Posted:
| Suntec REIT – Update (Lee Kok Joo) Recommendation: Hold Previous close: S$1.42 Fair value: S$1.37
· Advance distribution for period 1 Oct – 8Dec approx 1.677 cents - Private placement priced at $1.37 per unit raised $428.8 million
- Maintain Hold, target price $1.37
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ic. so most co will do that after a private placement?
Quantico ( Date: 01-Dec-2010 18:32) Posted:
| Advanced distribution is due to the private placement. Standard practice for REITs. |
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Suntec turn bullish! Will this bullish trend continues?
read my analysis on Suntec REIT Note: I hope that whichever direction you take on, decide on your stop loss and take profit level first
Advanced distribution is due to the private placement. Standard practice for REITs.
veri smart move fro their directors.
issues dividend now. Prevent tt counter fro dropping fro their recent news.
sorry, i do not really think.... it will goes up so quickly..... 1,37 is my target.
alexchia01 ( Date: 01-Dec-2010 12:21) Posted:
Today is a Good Day to Buy SuntecReit.
Business: prime office and retail space in the Central Business District; In Singapore.
Now Trading at $1.44.
1. In an Uptrend Channel with potential High of $1.60.
2. Just Bounded off its support level of $1.42.
3. Price is still Below 30MA and 50MA.
4. MACD is in the mist of reversing Upwards.
5. Stochastic already crossed and moving up. Still in oversold region.
6. Trust gives regular payout.
7. Revenue and Cash Flow increase QoQ with a slight fall in Net Income.
8. Debt reduced slightly from last year.
Grade: 8.
Target Price: $1.60.
More on My Blog at Alex Trades.
This is just my personal analysis. You invest at your own risk.
Good luck to all.
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Today is a Good Day to Buy SuntecReit.
Business: prime office and retail space in the Central Business District; In Singapore.
Now Trading at $1.44.
1. In an Uptrend Channel with potential High of $1.60.
2. Just Bounded off its support level of $1.42.
3. Price is still Below 30MA and 50MA.
4. MACD is in the mist of reversing Upwards.
5. Stochastic already crossed and moving up. Still in oversold region.
6. Trust gives regular payout.
7. Revenue and Cash Flow increase QoQ with a slight fall in Net Income.
8. Debt reduced slightly from last year.
Grade: 8.
Target Price: $1.60.
More on My Blog at
Alex Trades.
This is just my personal analysis. You invest at your own risk.
Good luck to all.
I dun believe those analyst crap even though i am phillip securities client. How many of u still haven't learn the lessons when all buy call for GentingSP when it's @ the peak of $2.3x something? Look @ the price now....
bsiong ( Date: 01-Dec-2010 11:33) Posted:
| Suntec REIT – Update (Lee Kok Joo) Recommendation: Hold Previous close: S$1.42 Fair value: S$1.37
· Advance distribution for period 1 Oct – 8Dec approx 1.677 cents - Private placement priced at $1.37 per unit raised $428.8 million
- Maintain Hold, target price $1.37
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Past dividend:
http://www.sgx.com/wps/portal/marketplace/mp-en/listed_companies_info/corporate_action
DIVIDEND
Ex.Date: 6 Dec 2010
APPROXIMATELY SGD 0.01667 LESS TAX
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Suntec REIT – Update (Lee Kok Joo) Recommendation: Hold Previous close: S$1.42 Fair value: S$1.37
· Advance distribution for period 1 Oct – 8Dec approx 1.677 cents - Private placement priced at $1.37 per unit raised $428.8 million
- Maintain Hold, target price $1.37
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Suntec REIT is top pick of the REITS due to it's proxy to the office rental of Singapore. With Singapore stage a recovery from recession, it's time to relook the sector of S-REITS. If u look @ the past dividend of Suntec REIT, the return is awesome. Recommendation: strong buy!
