Tuesday, April 19, 2011

Aims Amp - Key highlights for 4th Quarter FY2011

  • 4Q DPU: 0.541 cents.
  • Accretive acquisition of 29 Woodlands Industrial Park E1, NorthTech for S$72.0 million.
  • Sale of 23 Changi South Ave 2 for $16.7 million, 3.1% above book value.
  • Sale of Asahi Ohmiya Warehouse, Tokyo Japan for JPY1.49 million, 1.6% above book value.
  • Well supported private placement, raising gross proceeds of S$43.5 million.
  • Negotiated three year S$45.0 million acquisition debt facility in February 2011 which provides the Trust with additional financial flexibility.
  • Revaluation of 25 Singapore properties:
+2.67% vs 30 September 2010 valuations
+4.00% vs 31 March 2010 valuations
  • Portfolio size grew from S$803.9 million to S$853.2 million.
Distribution Timetable
DPU: 0.255 cents
Ex-date: 26 April 2011, 9.00am
Books closure date: 28 April 2011, 5.00pm
Distribution payment date: 8 June 2011

Monday, April 11, 2011

CIT- Date of release of CIT's 1st Quarter Financial results

Cambridge Industrial Trust Management Limited, the Manager of Cambridge Industrial Trust (“CIT”), is pleased to announce that CIT’s unaudited financial results for the first quarter ended 31 March 2011, will be released on Thursday, 28 April 2011 after market close.

Innotek- Notice of book closure date for Dividend

Dividend : 0.05cents

Record date: 9th May 2011

Payable: 23rd May 2011

Tuesday, April 5, 2011

Aims Amp property revaluation as at 31st March 2011

  • 2.67% increase compared to previous valuations as at 30 September 2010
  • 4% y-o-y increase compared to previous valuations as at 31 March 2010
  • Improves NAV per unit by S$0.01


AIMS AMP Capital Industrial REIT Management Limited, as manager of AIMS AMP Capital Industrial REIT (“AIMSAMPIREIT”), is pleased to announce that AIMSAMPIREIT’s unaudited financial results for the financial year ended 31 March 2011 will be released on 19 April 2011, after market close.

Armstrong- Notice book of closure

A final one-tier tax-exempt dividend of S$0.02 per ordinary share for the year ended 31 December 2010.
Record date - 18th May 2011
Payable date - 31st May 2011

Wednesday, March 30, 2011

Aims Amp Capital eyes more business parks to boost growth: Update

Singapore’s Aims Amp Capital Industrial Reit (AA Reit) (AART.SI) said it plans to increase the share of business park assets in its portfolio through acquisitions in order to benefit from higher rental income.

The trust, part-owned by Australian institutional real estate fund manager AMP Capital Investors (AMPGCH.UL), also aims to grow its portfolio by about $200 million, its chief executive officer Nicholas McGrath told Reuters in an interview.
“We have an increasing bias towards business parks and high-tech space,” said McGrath, a trained lawyer who moved to Singapore six years ago.
“We think rentals are likely to grow faster than in industries where margins may be under pressure and therefore the ability to afford higher rentals is under pressure”.
In the last 15 months, AA Reit bought about $300 million worth of assets and sold its sole Japanese property for 1.49 billion yen in order to focus its business on Singapore.
Currently, it has 26 properties in the city-state worth about $832.9 million and hopes to see business park assets account about 20-30% of its portfolio in about 3 years, McGrath said. They make up about 18% of its portfolio now.

The trust hopes to acquire more industrial properties that cater to higher-end manufacturing or high-technology businesses, as Singapore seeks to move away from low cost manufacturing activities.

“Singapore’s government policy as a whole is to move up the value chain...It is not the low cost manufacturer of products that it once was. Our strategy is very much aligned with where the market is moving,” said McGrath.
He added that he expects demand for business parks to increase faster than that for manufacturing facilities, which currently account for about 22% of AA Reit’s total portfolio.
Although AA Reit is one of the smallest amongst its peers with a market capitalisation of US$358 million ($452 million), it had a high distribution yield of 9.5%. This compares with an average of about 7% for Singapore-listed real estate investment trusts.
AA Reit is also looking at redeveloping and enhancing several of its warehouses, logistic and manufacturing facilities as they currently have underutilized plot ratios.
This would help the reit to boost its gross floor area and rental income, McGrath said.
AA Reit is also exploring acquiring properties in China or Australia, where its sponsors AMP Capital and AIMS Financial Group already have a presence.
“Over the next several years, call it a 5-year plan, we can be a reit that is well-diversified, not only across different asset classes within the general moniker of industrial, but also well diversified geographically,” McGrath said.
However, the trust has no immediate plans to buy assets in overseas markets due to the relatively high interest rates and low yields in Chinese and Australian markets, McGrath said.