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"Indicative price range of S$0.90-1.15"
Price down to around $1.20. Looks like it will continue its downtrend trend ...
- Raising S$349m for acquisitions. MLT is issuing new units at an indicative price range of S$0.90-1.15 to raise gross proceeds of S$349m. The proceeds will be used to fund the acquisition of 15 properties (total value of S$226.9m, total lettable area of 2.9m sf) and partially refinance the purchase of five properties (total value of S$235.5m, total lettable area of 2m sf). Following this round of acquisitions, scheduled for completion by 1Q07, MLT will boast a S$1.6bn portfolio, of which 59% is in Singapore, 29% in Hong Kong, 6% in Malaysia, 5% in China and 2% in Japan.
- On course to meet FY07 portfolio target. Both the equity fund-raising and the quantum of the funds are in line with market and our expectations. MLT wants to expand its portfolio to S$5bn by 2010, implying the addition of S$1bn assets a year. So far, It has met its portfolio target of S$1.4bn by end-FY06. MLT's gearing will be lowered to 40% from 49% as at end-3Q06 following this round of equity fund-raising, resulting in additional debt headroom of some S$800m. With over S$200m worth of acquisitions announced for completion by 1Q07, we believe the trust can expand its portfolio by S$1bn by the end of this year.
- Maintain Outperform; target price raised to S$1.32. Our FY06 DPU forecast remains unchanged but we have raised our FY07-08 DPU forecasts by 1-3%. MLT has demonstrated its ability to achieve its portfolio target in its first full year of operation. As such, we have raised our DDM-derived target price from S$1.10 to S$1.32, based on a lower cost of equity of 6% (6.4% previously, beta from 0.37 to 0.32 to account for the lower risk). Note that the higher FY07 DPU of 5.8cts and target price of S$1.32 translate into a CY07 dividend yield of 4.4%, which is in line with the CY06 yield that the trust is trading at. We continue to favour MLT for its solid expansion pipeline. Forward distribution yields remain decent at 4.4-5.4%. Maintain Outperform.
that sounds like something I learnt long long time ago .. haa...haa....
Sounds logical.
I'm not too sure, just thinking ... do not have any basis to support my ideas ... that is why asking if any gurus here know :).
Cheers.
hey, thanks for all your feed back.
I remember reading over the long weekend that Mapletree is gonna re-issue new shares to the public.
Please correct me if I am wrong ... this is good ... right ... ?
Regards.
hey, thanks for all your feed back.
I remember reading over the long weekend that Mapletree is gonna re-issue new shares to the public.
Please correct me if I am wrong ... this is good ... right ... ?
Regards.
I also see weakness (that's y i let go at 1.18...)
Low volume n it always close at the lower end of the daily price range. Just based on these 2 factors, it doesn't look too bright.
Hi all,
Any TA views on this stock?
Thanks in advance.
Jeremy
Finally price also moves. Sold my holdings at $1.14 this morning already. Made some money to buy xmas gifts... I find that the price moves very slowly as compared to other reits.
This is beautiful...Cheers!!!
Finally reveal its TRUE colours !!
Cheerz
MapletreeLog has signed agreements to purchase two warehouse-cum-office properties
in Singapore for an aggregate acquisition price of S$35.1m. The two properties are located
at 521 Bukit Batok Street 23 and 1 Genting Lane. Both deals have been structured on a
sale and leaseback basis. Each of the properties will be leased back to its vendor for seven
years with an option to extend for a further seven years. Both acquisitions will be accretive
to MapletreeLog?s distribution per unit (DPU) and the pro forma financial effect of the
acquisitions on the DPU for FY Dec05 would be additional 0.07 Singapore cents per unit
for the Bukit Batok Property and 0.04 Singapore cents per unit for the Genting Lane
Property. (MapletreeLog)
in Singapore for an aggregate acquisition price of S$35.1m. The two properties are located
at 521 Bukit Batok Street 23 and 1 Genting Lane. Both deals have been structured on a
sale and leaseback basis. Each of the properties will be leased back to its vendor for seven
years with an option to extend for a further seven years. Both acquisitions will be accretive
to MapletreeLog?s distribution per unit (DPU) and the pro forma financial effect of the
acquisitions on the DPU for FY Dec05 would be additional 0.07 Singapore cents per unit
for the Bukit Batok Property and 0.04 Singapore cents per unit for the Genting Lane
Property. (MapletreeLog)
Mapletree Logistics has signed an agreement to purchase a warehouse-cum-office
property located at 3 Changi South Lane in Singapore for S$13.9m. Separately,
MapletreeLog has also signed a Letter of Offer to purchase a warehouse-cum-office
property located at Shah Alam, Selangor, Malaysia for RM 35m (S$15.0m). Both deals
have been structured on a sale and leaseback basis. Both acquisitions will be accretive to
MapletreeLog?s distribution per unit (DPU) and the pro forma financial effect of the
acquisitions on the DPU for FY Dec 05 would be additional 0.04 Singapore cents per unit
for the Changi Property and 0.02 Singapore cents per unit for the Shah Alam Property.
(MapletreeLog)
property located at 3 Changi South Lane in Singapore for S$13.9m. Separately,
MapletreeLog has also signed a Letter of Offer to purchase a warehouse-cum-office
property located at Shah Alam, Selangor, Malaysia for RM 35m (S$15.0m). Both deals
have been structured on a sale and leaseback basis. Both acquisitions will be accretive to
MapletreeLog?s distribution per unit (DPU) and the pro forma financial effect of the
acquisitions on the DPU for FY Dec 05 would be additional 0.04 Singapore cents per unit
for the Changi Property and 0.02 Singapore cents per unit for the Shah Alam Property.
(MapletreeLog)
Mapletree Logistics Trust to buy Nobel building. Mapletree Logistics Trust has agreed to
buy a distribution centre at 134 Joo Seng Road in Singapore for $10.7m from Nobel
Design Holdings. (BT)
buy a distribution centre at 134 Joo Seng Road in Singapore for $10.7m from Nobel
Design Holdings. (BT)
4 days of white candles on the TA charts....
Similar to "3 white soldiers" but too bad, volume isn't good