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luckily not rights issue, just bond issue cheaply to institutions.
E-war ( Date: 17-Mar-2010 19:56) Posted:
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CapitaCommercial Trust (CCT) recently (Jan 19, 2010) had agreed to let off
One thing for sure, everyone is watching the development of Marina Bay Financial Center (MBFC), which is being developed by
Occupancy in CCT’s Grade A offices actually increased to 98.7% as at Dec 31, 2009, up from 97.9% as at Sept 30, 2009, while occupancy rates at offices in general were weakening.
Strategically, the more proactive management of CCT’s assets puts it in strong position to take advantage of acquisition opportunities. As of now, analysts estimate that distributable income at CCT is likely to decline by 5% to $188.7 million, before rebounding slightly to $207 million in 2011.
CCT currently has 11 properties:
Do not base solely on the above information for your investment. Read it for your insight knowledge. It will be appreciated if you have another side of the story to tell. I'm always listening for my learning.
I do hold this stock that why I’m sharing my personal view. I’m not a trader, remisier nor from any investment or financial institution. I’m just a personal investor. I’m posting this article for sharing purpose to provide better exposure of the company. Most of this insight information can be extracted from The Edge Singapore, Insight or SGX web portal.
0138 GMT [Dow Jones] STOCK CALL: Royal Bank of Scotland upgrades CapitaCommercial Trust (C61U.SG) to Buy from Hold following recent 4Q09 results. Broker says office trust's FY09 performance better than expected, thinks prime office rents could outperform broader office market this year despite large new office supply due to flight to quality. "The worst seems almost over for prime offices; we think rents will bottom this year." Raises FY10, FY11 distributable income forecasts by 5.9%, 7.6%, respectively. Hikes target price to S$1.40 from S$1.00 to reflect earnings upgrades, upside from reinvestment of proceeds from recent sale of Robinson Point and likely divestment of Starhub Center. Adds trust's FY10 and FY11 yields look attractive at 6.0% and 5.9%, respectively, vs peer average of 6.6% and 5.9%. Shares last off 0.9% at S$1.16. (KIG)
More news from CapitaComm ....
Announcements by Quill Capita Trust ("QCT") - (1) 4th Quarter 2009 Financial Results (2) News Release on QCT's Full Year 2009 EPU Increases by 10.2% - Due to income contribution from its ten assets (3) Corporate Presentation Slides dated 21 January 2010, issued by Quill Capita Management Sdn Bhd, as manager of QCT, to the Bursa Malaysia Secuities Berhad, are attached for information.
CCT is a substantial unitholder of QCT.
The estimated DPU for the financial period 1 July 2009 to 31 December 2009 (2H 2009) is 3.73 cents
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CCT’s full year 2009 DPU increases by 28.8% from 2008
1 DPUPortfolio reconstitution to further enhance quality of CCT’s assets
Singapore, 20 January 2010
CapitaCommercial Trust (CCT or the Trust), is pleased to announce a distributable income of S$198.5
million for the financial year ended 31 December 2009 (FY 2009). The full year distribution per unit
(DPU) of 7.06 cents is a 28.8% year-on-year increase from FY 2008 DPU of 5.48 cents
financial period 1 October 2009 to 31 December 2009 (4Q 2009), a distributable income of S$52.9
million is achieved. 4Q 2009 DPU of 1.88 cents is 38.2% above 4Q 2008 DPU of 1.36 cents
distribution yield is 6.0% based on the closing price of S$1.18 per unit on 19 January 2010.
The estimated DPU for the financial period 1 July 2009 to 31 December 2009 (2H 2009) is 3.73 cents
Unitholders can expect to receive their semi-annual DPU payout on or around 26 February 2010. The
books closure date is on 29 January 2010.
Following an independent valuation as at 31 December 2009, there is a net decrease of S$327.6
million or 5.4% in the fair value of the Trust’s investment properties compared to its last valuation on 22
May 2009. The value of its investment properties and total assets is now S$5.7 billion
respectively. The Trust’s net asset value (NAV), after adjusting for the 2H 2009 distributable income to
unitholders, is S$1.37 per unit as at 31 December 2009.
CapitaCommercial Trust Management Limited, the manager of CapitaCommercial
Trust (“CCT”), wishes to announce that it will release CCT’s financial results for the
year ended 31 December 2009 before 8.00 am on Wednesday, 20 January 2010.
A media cum analysts' briefing will be held at 10.00 am on the same day and a
"LIVE" webcast will be available for viewing at
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19 Jan 2010 10:58am
DJ MARKET TALK: CCT Flat; Use Of Sale Proceeds Key - JPMorgan
0259 GMT [Dow Jones] CapitaCommercial Trust (C61U.SG) shows muted reaction to announcement midday yesterday company is in talks to sell Robinson Point property. Shares flat at S$1.17, having fallen 0.8% post the announcement in afternoon trade Monday; order book suggests shares to trade in S$1.16-S$1.20 range near-term. Office trust says it is in "advanced state of negotiations" with institutional buyer in response to Business Times newspaper report saying it is to sell Robinson Point for about S$200 million to U.S. based property fund manager AEW. JPMorgan, who has Neutral rating, says use of proceeds is key; "as this is the first sale of an asset by CCT, use of proceeds would be a key to signal management's strategy." Says sale to pay down borrowings would "not be the optimal use of proceeds." (KIG) |
0239 GMT [Dow Jones] CapitaCommercial Trust (C61U.SG) halted pending announcement, Business Times newspaper reports office trust selling Robinson Point property to a U.S.-based property fund manager AEW for about S$200 million. DMG, who has Sell call with S$0.96 target price, says financial impact of divestment would be small; "Robinson Point was valued at S$195m in May 2009, suggesting a S$5m gain on book, should this transaction pull through our estimates suggest a net DPU gain of a mere 0.8%." Adds CCT has yet to indicate rationale for selling Robinson Point as gearing is only 31%, there is little need for management to de-leverage portfolio. "We view CCT's impending sale as a signal of a dearth of confidence in any near-term recovery in the Singapore office sector." CCT is managed by unit of property developer CapitaLand (C31.SG), who is also on trading halt pending an announcement. CCT shares closed down 1.7% at S$1.18 Friday. (KIG)
Today down 2cts....:( back to S$1.18 again. No problem still holding tightly onto it, believe it will be up up up and away in the coming weeks.
williamyeo ( Date: 14-Jan-2010 19:19) Posted:
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Moneysense ( Date: 14-Jan-2010 18:31) Posted:
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