Suntec Reit    Last:1.12   -

Suntec REIT

I noticed that this counter has been very active but its price over the past couple of months had been inching upward at a very slow pace. 

Over the past one or two months, the REIT had issued new units to its Manager and sponsors.  I am not sure what is the dilution impact on earnings of these new units.  The number of units issued to the sponsors was 34.5 million units - and there are 3 more instalments to go.

The Manager had recently disposed its units received.  There were rumours suggesting that some of the sponsors were also unloading their units.

 

Moneysense      ( Date: 29-Aug-2009 22:00) Posted: This stock did not cheong despite cheap valuations. Got a feeling they might issue rights. Anyone can advise?

 

This stock did not cheong despite cheap valuations. Got a feeling they might issue rights. Anyone can advise?

 

Load some at $1.03. Target $1.25.

 

ARA Asset sest up fund to acquire Suntec Singapore: Update 1

Written by Bloomberg

Monday, 03 August 2009 08:58

ARA Asset Management, part of Li Ka-Shing’s Cheung Kong group of companies, said it closed a fund that will buy the Suntec Singapore International Convention & Exhibition Centre for $235 million.

The ARA Harmony Fund is a joint venture with Suntec Real Estate Investment Trust and other private investors, ARA Asset said in a statement to the Singapore stock exchange yesterday. ARA Asset will be appointed the asset manager and convention and exhibition service provider for Suntec Singapore once the acquisition is completed, it added.

ARA Asset is buying Suntec Singapore to tap on the centre’s 1 million square feet of floor space in downtown Singapore, the company said. The Singapore Tourism Board has said it wants to grow convention-related spending to $10.5 billion by 2015.

“Suntec Singapore is a prized asset with excellent potential for enhancement,” John Lim, chief executive of the ARA Group, said in the statement. “Given our role as the manager of Suntec REIT which owns the adjoining Suntec City Mall, ARA is in a good position to tap the synergistic potential of the two properties.

Suntec REIT, which manages the downtown Suntec City office and retail development, will invest $25 million, which will be funded by external borrowings, the property trust said in a separate statement. The fund aims to complete the purchase by the third quarter of this year, it added.

 

By far dividend is paid Quarterly.

erictkw      ( Date: 31-Jul-2009 10:48) Posted: Is the dividend being paid quarterly or half yearly or yearly? When is CD & XD? Anyone?

 

Suntec REIT units trade Ex-Distribution on 3 August 2009

Distribution Timetable Distribution payment (for the period 1 April to 30 June FY09)

Amount (cents/unit) 2.977

Ex date 3 August 2009


Books closure 5 August 2009

Payment 28 August 2009

 

 

Is the dividend being paid quarterly or half yearly or yearly? When is CD & XD? Anyone?

 

Good stock. Have been collecting stable dividends. With MRT circle line and casino, the stock price is still cheap. Short term target price $1.25.  

 

Updated: 30th July 2009, 1850 hrs

Suntec reit's Q2 DPU up 6.6%.

Suntec Real Estate Investment Trust says its second quarter Distribution Per Unit rose 6.6 percent to 2.97 cents. This was on the back of higher net property income, which rose 6.2 percent on-year to 148.8 million dollars for the three months ended June. The property trust says this was mainly due to higher rents achieved for the Suntec City and Park mall properties. As at June, the committed occupancy for its overall office portfolio stood at 94.8 percent. For the first half of the financial year, the reit renewed and signed around 375 thousand square feet of office space up for renewal. With this, the remaining office leases expiring in the current financial year amounts to around 4.5 percent of the total office net lettable area.

 

Look at its current share price, its yields is still attractive. > 10%.

 

Ya quite alot. But SuntecReit now expensive liao. Congratuate those that vested in at lower price.

wongmx6      ( Date: 30-Jul-2009 17:46) Posted: CCT first half of 2009 only give 3.3 Cents as compare with Suntec Reit give 5.895 Cents. Therefore, not hard to calculate, Dump CCT and Buy Suntec.

 

CCT first half of 2009 only give 3.3 Cents as compare with Suntec Reit give 5.895 Cents. Therefore, not hard to calculate, Dump CCT and Buy Suntec.

 

Suntec REIT 2Q FY09 Distribution Income up 13.5% to S$47.7m
DPU achieved new high of 2.977 cents
Singapore, 30 July 2009 – ARA Trust Management (Suntec) Limited, the Manager of
Suntec Real Estate Investment Trust (“Suntec REIT”), is pleased to announce a distribution
income of S$47.7 million for the period 1 April to 30 June FY09, which was 13.5% higher
compared to the quarter ended 30 June 2008 (2Q FY08). The DPU of 2.977 cents for the
quarter was 6.6% higher year-on-year.
Gross revenue up 8.9% y-o-y for the quarter, 12.4% y-o-y for first half FY09
Suntec REIT achieved gross revenue of S$64.5 million for the quarter, which was 8.9%
higher than in 2Q FY08. For the first half FY09, gross revenue rose 12.4% year-on-year to
S$129.4 million. This was attributed mainly to higher rents achieved for the Suntec City and
Park Mall properties. As at 30 June 2009, the committed occupancy for the overall office
portfolio stood at 94.8%.
Less than 5% of total office NLA1 left for renewal for FY09
For the first half of 2009, the Managers have renewed and signed approximately 375,000 sq
ft of office space up for renewal in FY09. With this, as at 30 June 2009, the remaining office
leases expiring in FY09 amounts to approximately 84,000 sq ft or 4.5% of the total office
NLA1.
Resilient performance of retail portfolio
As at 30 June 2009, the committed retail passing rent at Suntec City Mall stood at S$10.98
p.s.f. per month, whilst rents at Park Mall and Chijmes achieved S$7.63 p.s.f. per month and
S$10.71 p.s.f. per month respectively. Suntec REIT’s revenue from other income initiatives
achieved S$1.68 million for the quarter.
1 Including attributable interest in One Raffles Quay
30 July 2009
2
As at 30 June 2009, the committed occupancy for the overall retail portfolio stood at 98.4%.
Mr. Yeo See Kiat, Chief Executive Officer of the Manager, said, “I am happy to deliver
another quarter of DPU growth for our Unitholders. I am also pleased to report that Suntec
REIT’s income available for distribution for the first half FY09 grew by 18.1% year-on-year.
In addition, we have completed our refinancing requirement for the year.”
Summary of Suntec REIT Results Comparison
2Q
FY09
(S$’000)
2Q
FY08
(S$’000)
%
Chg
1H
FY09
(S$’000)
1H
FY08
(S$’000)
%
Chg
Gross revenue 64,513 59,227 8.9 129,438 115,196 12.4
Net property income 48,793 45,965 6.2 97,966 88,583 10.6
Income available for distribution 47,699 42,033 13.5 94,049 79,646 18.1
Distribution per unit1 2.977¢ 2.793¢ 6.6 5.895¢ 5.312¢ 11.0
Annualised distribution per unit2 11.941¢ 11.233¢ 6.3 11.888¢ 10.681¢ 11.3
Distribution yield (annualised)2
- As at 30 Jun 2009 price of S$0.86
- As at 29 Jul 2009 price of S$1.05
13.9%
11.4%
8.3%3
8.3%3
13.8%
11.3%
7.9%3
7.9%3
For 2Q FY09, Suntec REIT recorded gross revenue of S$64.5 million and income available
for distribution of S$47.7 million, which was 8.9% and 6.2% higher year-on-year respectively.
The distribution per unit amounted to 2.977 cents, which was 6.6% higher year-on-year.
For 1H FY09, Suntec REIT recorded gross revenue of S$129.4 million and income available
for distribution of S$94.0 million, which was 12.4% and 18.1% higher year-on-year
respectively. The distribution per unit amounted to 5.895 cents, which was 11.0% higher
year-on-year.
-- END --

 

something is brewing, 1 lot sell 103, follow by 1 lot buy 105, why 104 cannot buy or sell?

 

Tomorrow results out. Should be good.

 

Good results coming next week. Dividend should be 3 cents!

 

Suntec REIT owns 3m sf of prime commercial space in Singapore, including Suntec City, Park Mall, Chijmes and One Raffle Quay. The outlook for office space is weak with a large supply overhang. In our view, there is more room for upside surprises from its retail segment, catalysed by an increased catchment population from two new MRT stations at Suntec City, and direct linkage to the Marina Bay integrated resort. Additionally, high liquidity and low interest rates are positive for REITs which should benefit from easier and cheaper financing. We like Suntec REIT for its: 1) quality commercial portfolio; 2) low leverage of 34.4%; and 3) absence of refinancing concerns until 2011. We believe that downside risks for the office sector have been factored into its share price while upside surprises from its retail segment have largely been neglected. Initiate with Outperform and a DDM-derived target price of S$1.07 (discount 9.4%).

 

during the rally period, when company issue rights, the stocks will fly.. now after rally is over, rights issue might nt be so power to move stock north liao!

nickyng      ( Date: 30-Jun-2009 09:47) Posted: hmm..this burger is spook by Rights issue problem again now that F&N related REITS halt trading..hee.. well....y dun the mgt of Suntec just do it lah! and get it over and done with?!!? :P

 

hmm..this burger is spook by Rights issue problem again now that F&N related REITS halt trading..hee..

well....y dun the mgt of Suntec just do it lah! and get it over and done with?!!? :P

 

the price have break the 0.90 barrier and currently at envelope and bollinger band level for 0.88. price may hev to reach below 0.80 i presume.