- Profit for financial year increased by 72%
- NAV drop to 1.52 (FY 2009 1.88)
- EPS increase to 54.95 cents (FY 2009 46.98 cents)
- Dividend: No dividend (correction)
Wednesday, February 23, 2011
Transpac Full year financial and dividend report
Transpac - Proposed return of surplus capital thru capital reduction exercise
The amount of cash distribution return to shareholders pursuant to the capital reduction is S$0.57 for each share held as at book closure date to be determined by the directors of the company.
Tuesday, February 22, 2011
Aims Amp: Sale of Asahi Ohmiya Warehouse, Japan above book value
- Sale price: JPY1.49 billion (SGD22.81 million)1
- Book value as at 31 December 2010: JPY1.46 billion (SGD22.35 million)
- Sale expected to complete in March 2011
- Net sale proceeds after JPY debt repayment available for future investment opportunities.
- Aggregate leverage reduced from 33.6% to approximately 32.0% following completion of the sale
- Continued execution of Manager’s strategy for the Trust
Monday, February 21, 2011
Transpac Ind- Half year results announcement
Transpacific Industries Group Ltd (TPI) confirms that its results for the half year ended 31 December 2010 will be released to the market on Thursday 24 February 2011.
SP AusNet Executes A$150m Bank Debt Facility
SP AusNet is pleased to announce it has successfully executed an A$150 million 3 year bank debt facility. The proceeds will be used to refinance existing bank debt and to fund growth capital expenditure.
SP AusNet maintains a well diversified debt maturity profile together with well diversified sources of debt. This, together with a strong investment grade credit rating, allows SP AusNet ready access to debt markets both in Australia and offshore. SP AusNet is therefore not reliant on any one capital market or any one source of debt.
SP AusNet maintains a well diversified debt maturity profile together with well diversified sources of debt. This, together with a strong investment grade credit rating, allows SP AusNet ready access to debt markets both in Australia and offshore. SP AusNet is therefore not reliant on any one capital market or any one source of debt.
SP Austnet Financial Calendar
2010/11 Full Year Results and AGM
Thu 12 May 11 2010/11 full year results and final distribution announcement
Thu 26 May 11 ASX ex date for final distribution
Mon 30 May 11 SGX-ST ex date for final distribution
Wed 1 Jun 11 Record date for final distribution
Wed 29 Jun 11 Payment of final distribution
Wed 13 Jul 11 Annual General Meeting
2011/12 Half Year Results
Wed 9 Nov 2011/12 half year results and interim distribution announcement
Mon 21 Nov 11 ASX ex date for interim distribution
Wed 23 Nov 11 SGX-ST ex date for interim distribution
Fri 25 Nov 11 Record date for interim distribution
Wed 21 Dec 11 Payment of interim distribution
Thu 12 May 11 2010/11 full year results and final distribution announcement
Thu 26 May 11 ASX ex date for final distribution
Mon 30 May 11 SGX-ST ex date for final distribution
Wed 1 Jun 11 Record date for final distribution
Wed 29 Jun 11 Payment of final distribution
Wed 13 Jul 11 Annual General Meeting
2011/12 Half Year Results
Wed 9 Nov 2011/12 half year results and interim distribution announcement
Mon 21 Nov 11 ASX ex date for interim distribution
Wed 23 Nov 11 SGX-ST ex date for interim distribution
Fri 25 Nov 11 Record date for interim distribution
Wed 21 Dec 11 Payment of interim distribution
Monday, February 14, 2011
AIMS AMP CAPITAL INDUSTRIAL REIT PRIVATE PLACEMENT TO RAISE MINIMUM GROSS PROCEEDS OF S$43.5 MILLION
• Private Placement to raise minimum gross proceeds of S$43.5 million
• New Units to be offered at between S$0.1976 and S$0.2041 per New Unit
• Proceeds from the Private Placement to be used to fund the acquisition of a property located at 29 Woodlands Industrial Park E1, Singapore 757716 (“NorthTech” (the “Acquisition”))
Overview of Acquisition
NorthTech is a four-storey hightechnology light industrial building with basement car park located in the northern part of Singapore at the corner of Admiralty Road West and Woodlands Avenue 8 and is easily accessible by the Seletar Expressway and the Admiralty MRT Station. Surrounding developments are predominantly industrial in nature, comprising purpose-built factories and ramp-up and terrace factories. The property is primarily used for office and warehouse and has an occupancy rate of 98.3% as at 1 January 2011 with a total gross rental of S$1.8 million from 1 October 2010 to 31 December 2010. NorthTech is a multi-tenancy building and a majority of the tenants are in the engineering and technology sector,for example, Broadcom, Nikon Precision and Schmidt Electronics.
Title: URA leasehold estate with a remaining land tenure of approximately 44.0 years
Land area: 197,691 square feet (“sq ft”)
Net lettable area: 390,130 sq ft
Gross floor area: 489,560 sq ft
Merits of the Acquisition and Private Placement
(i) Acquisition of a High Quality Asset
NorthTech has a weighted average lease expiry of 3.5 years as at 31 December 2010.
The initial net property income yield (“NPI Yield”) for NorthTech is 7.6%. This
compares favourably with the NPI yield of AIMSAMPIREIT’s current portfolio of 7.2%.
(ii) AIMSAMPIREIT will have readily available financing to capitalise on growth
opportunities.
With the proposed Acquisition, AIMSAMPIREIT was able to secure the Acquisition
Loan Facility from SCB. Upon completion of the Acquisition and the sale of 23 Changi South Avenue 2 (“KTL”), based on the Minimum Issue Price, AIMSAMPIREIT will have a total of S$37.6 million in undrawn debt facilities.
Following the completion of the Acquisition and the sale of KTL, AIMSAMPIREIT’s
Aggregate Leverage is expected to be 33.6%, which is below the maximum Aggregate Leverage of up to 60.0% permitted by the Monetary Authority of Singapore (the “MAS”) for real estate investment trusts in Singapore.
(iii) Possible increase in trading liquidity of Units.
The New Units to be issued pursuant to the Private Placement will increase the number of Units in issue by 219,989,907 Units, which is an increase of 11.1% of the total number of Units in issue as at 31 December 2010.
Advanced Distribution
AIMSAMPIREIT’s policy is to distribute its distributable income on a quarterly basis to Unitholders.
In connection with the Private Placement, the Manager however intends to declare in respect of the Units in issue immediately prior to the issue of the New Units (“Existing Units”), a distribution of the distributable income of AIMSAMPIREIT for the period from 1 January 2011 to the day immediately prior to the date the New Units are issued pursuant to the Private Placement (the “Advanced Distribution”).
The next distribution thereafter will comprise AIMSAMPIREIT’s distributable income for the period from the day the New Units are issued pursuant to the Private Placement to 31 March 2011. Quarterly distributions will resume thereafter.
The Advanced Distribution is intended to ensure that the distributable income of AIMSAMPIREIT accrued up to the day immediately preceding the date of issue of the New Units (which at this point, will be entirely attributable to the Existing Units) is only distributed in respect of the Existing Units, and is being proposed as a means to ensure fairness to holders of the Existing Units.
The current expectation of the Manager is that the quantum of the distribution per Unit (“DPU”) under the Advanced Distribution will be approximately 0.285 cents per Unit, estimated based on actual revenue and expenses for the three months ended 31 December 2010. The actual quantum of the DPU under the Advanced Distribution will be announced on a later date after the management accounts of AIMSAMPIREIT for the relevant period have been finalised.
• New Units to be offered at between S$0.1976 and S$0.2041 per New Unit
• Proceeds from the Private Placement to be used to fund the acquisition of a property located at 29 Woodlands Industrial Park E1, Singapore 757716 (“NorthTech” (the “Acquisition”))
Overview of Acquisition
NorthTech is a four-storey high
Title: URA leasehold estate with a remaining land tenure of approximately 44.0 years
Land area: 197,691 square feet (“sq ft”)
Net lettable area: 390,130 sq ft
Gross floor area: 489,560 sq ft
Merits of the Acquisition and Private Placement
(i) Acquisition of a High Quality Asset
NorthTech has a weighted average lease expiry of 3.5 years as at 31 December 2010.
The initial net property income yield (“NPI Yield”) for NorthTech is 7.6%. This
compares favourably with the NPI yield of AIMSAMPIREIT’s current portfolio of 7.2%.
(ii) AIMSAMPIREIT will have readily available financing to capitalise on growth
opportunities.
With the proposed Acquisition, AIMSAMPIREIT was able to secure the Acquisition
Loan Facility from SCB. Upon completion of the Acquisition and the sale of 23 Changi South Avenue 2 (“KTL”), based on the Minimum Issue Price, AIMSAMPIREIT will have a total of S$37.6 million in undrawn debt facilities.
Following the completion of the Acquisition and the sale of KTL, AIMSAMPIREIT’s
Aggregate Leverage is expected to be 33.6%, which is below the maximum Aggregate Leverage of up to 60.0% permitted by the Monetary Authority of Singapore (the “MAS”) for real estate investment trusts in Singapore.
(iii) Possible increase in trading liquidity of Units.
The New Units to be issued pursuant to the Private Placement will increase the number of Units in issue by 219,989,907 Units, which is an increase of 11.1% of the total number of Units in issue as at 31 December 2010.
Advanced Distribution
AIMSAMPIREIT’s policy is to distribute its distributable income on a quarterly basis to Unitholders.
In connection with the Private Placement, the Manager however intends to declare in respect of the Units in issue immediately prior to the issue of the New Units (“Existing Units”), a distribution of the distributable income of AIMSAMPIREIT for the period from 1 January 2011 to the day immediately prior to the date the New Units are issued pursuant to the Private Placement (the “Advanced Distribution”).
The next distribution thereafter will comprise AIMSAMPIREIT’s distributable income for the period from the day the New Units are issued pursuant to the Private Placement to 31 March 2011. Quarterly distributions will resume thereafter.
The Advanced Distribution is intended to ensure that the distributable income of AIMSAMPIREIT accrued up to the day immediately preceding the date of issue of the New Units (which at this point, will be entirely attributable to the Existing Units) is only distributed in respect of the Existing Units, and is being proposed as a means to ensure fairness to holders of the Existing Units.
The current expectation of the Manager is that the quantum of the distribution per Unit (“DPU”) under the Advanced Distribution will be approximately 0.285 cents per Unit, estimated based on actual revenue and expenses for the three months ended 31 December 2010. The actual quantum of the DPU under the Advanced Distribution will be announced on a later date after the management accounts of AIMSAMPIREIT for the relevant period have been finalised.
Friday, February 11, 2011
Cambridge Ind Trust - 4th Q Results
Highlights
- Gross revenue increase by 1% YOY (+4.8% QOQ) to 19.1mil
- Net profit income increase by 0.7% YOY (+11.2% QOQ) to 16.8mil
- Distribution income increase by 0.6% YOY (+0.5% QOQ) to 12 mil
- DPU decrease by 13.4% YOY (+0.5% QOQ) to 1.193 cents.
- Annualised DPU decrease by 13.4% YOY to 4.733 cents
- Gearing reduced to 34.7% from 42.6%
- CITM has announced a distribution of November to 31 December 2010. XD on 18 Feb and payable on 24th Mar.
Transpac industry - Update on Possible Class Action
As previously advised in 2010, IMF (Australia) Ltd announced that it proposes to fund a class action against Transpacific Industries Group Ltd (TPI) on behalf of certain investors who acquired TPI shares in the period between 29 August 2007 and 16 February 2009.
While no proceedings have been commenced, TPI has now been invited to enter into discussions, on a without prejudice basis, with Maurice Blackburn & Co (IMF’s lawyers) in relation to these matters, failing which Maurice Blackburn & Co advise they have been instructed to commence proceedings.
If any such proceedings are commenced, TPI will vigorously defend them.
While no proceedings have been commenced, TPI has now been invited to enter into discussions, on a without prejudice basis, with Maurice Blackburn & Co (IMF’s lawyers) in relation to these matters, failing which Maurice Blackburn & Co advise they have been instructed to commence proceedings.
If any such proceedings are commenced, TPI will vigorously defend them.
Stocks payng dividend with yield of about 10%
(1) NeraTel
Currently trading at about 39 Cents with 4 cents of Dividends.
Stock has proven track record in giving 3 cents dividend.
(2) Lattitude Tree international
The company has just released the HY results and has announced a 1.4 cents Dividend.
Stock price has closed at 29.5 cents. With the assumption that another 1.5 cents will be given during end of FY result, we can see that the share has achieved a yield of 10%.
(3) New Toyo
The current price is 0.245 cents. Has been issuing dividends of 1.27 cents (in May 2010) and 0.97 cents (in Sept 2010). This amounts to a yield of 9.1 %.
Currently trading at about 39 Cents with 4 cents of Dividends.
Stock has proven track record in giving 3 cents dividend.
(2) Lattitude Tree international
The company has just released the HY results and has announced a 1.4 cents Dividend.
Stock price has closed at 29.5 cents. With the assumption that another 1.5 cents will be given during end of FY result, we can see that the share has achieved a yield of 10%.
(3) New Toyo
The current price is 0.245 cents. Has been issuing dividends of 1.27 cents (in May 2010) and 0.97 cents (in Sept 2010). This amounts to a yield of 9.1 %.
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