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CDL HOSPITALITY TRUSTS REPORTS GROSS REVENUE OF S$42.8 MILLION FOR 1H 2009
• Income available for distribution per Stapled Security of 4.25 cents for 1H 2009, representing an annualised gross yield of 7.5%1
• Occupancy showing signs of improvement in June and July due to revival in business confidence
• Strong balance sheet with low debt to assets ratio of 19.3%
Singapore, 30 July 2009 – CDL Hospitality Trusts (“CDLHT”), a stapled group comprising CDL
Hospitality Real Estate Investment Trust (“H-REIT”), a real estate investment trust, and CDL Hospitality
Business Trust (“HBT”), a business trust, is pleased to announce its results for the second quarter (“2Q
2009”) and first six months (“1H 2009”) ended 30 June 2009.
CDLHT achieved gross revenue of S$20.2 million and an income available for distribution of S$17.4
million in 2Q 2009, representing a decline of 31.5% and 30.6% respectively from the previous
corresponding quarter (“2Q 2008”).
In 1H 2009, CDLHT registered gross revenue of S$42.8 million, a 25.6% decrease from the same period
last year (“1H 2008”). Income available for distribution for 1H 2009 was S$35.5 million, 26.8% lower than
the S$48.6 million in the same period last year. The income to be distributed per Stapled Security for 1H
2009 was 3.86 cents. Based on a market price of S$1.15 as at close of market on 29 July 2009, holders
of CDLHT’s Stapled Securities would enjoy an annualised distribution yield of 6.8% for 1H 2009.
Mr Vincent Yeo, CEO of M&C REIT Management Limited, the Manager of H-REIT, said, “This
achievement comes amidst a challenging operating environment for CDLHT in the first half of 2009. On
the back of the global economic turmoil, the tourism and hospitality sectors at large have seen a sharp
reduction in travel and tourist arrivals. The situation was further exacerbated in the second quarter by the
global outbreak of Influenza A (H1N1) and the knee-jerk reaction of the public to the viral flu, which led to
some cancellations and postponement of events.
“Despite tougher conditions in 2Q 2009, we are heartened that our hotels managed to maintain a
relatively healthy level of profitability as a result of our proactive cost containment measures.”
surging with volume recently ..looking at the past records from late 2006 to early 2007...looks good
seeing the technical charts on acc/dist ...there is a steep climb in accumulation as well
probably will see some form of resistance at the moment soon as it approaches the region of around $1.21 ...should it clear this stage convincingly with volume...let's hope to see a brighter future as when it had reached its heights during Jul'07 of $2.73
cyjjerry85 ( Date: 20-Jul-2009 10:27) Posted:
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their filing showed 87.27c average. but i dunno how to interprete because their total buy is 53+million shares, as daily volume is 4-6 millions it take many days to reach 53million thus i dunno how to interprete.
another news relating to delay in opening of IR might damp down interest as this share would benefit on IR and high tourist arrivals.
THE Marina Bay Sands (MBS) integrated resort will open in January or February, and not the end of this year as previously announced. News of the delay came from the top on Wednesday: Las Vegas Sands (LVS) chairman and chief executive officer Sheldon Adelson.
Alligator ( Date: 09-Jul-2009 11:52) Posted:
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| No. of Shares held after the change | 53,440,000 |
| As a percentage of issued share capital | 6.4109 % |
guppy724 ( Date: 29-Jan-2009 16:22) Posted:
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Is it tomorrow CDL Htrust Full year Result announcement ?
cyjjerry85 ( Date: 14-Nov-2008 16:35) Posted:
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anyone can provide some analysis on this counter in terms of TA? the volume is quite high today...above avg
the buy and sell queue equally strong today
pasttime ( Date: 01-Aug-2008 16:17) Posted:
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hi naproxen, got to be careful. do not know why someone is dumping by the 100+ lots.
i buy a little bit bit. even if wrong also not too freightening.
can go http://reitdata.blogspot.com/
one good man has posted good data there.
caveat emptor