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Malaysia & Singapore Real Estate
Malaysia & Singapore Real Estate and Properties Investment Forum
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Bozo!
Renesial Leong
Joined: 21 Aug 2009
Posts: 840
Location: Mind & Body Are In 2 Different Places
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 Posted: Mon Dec 14, 2009 1:53 pm Post subject: |
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receently suntec reit issue lots of new units to institutions.. anyone has any idea what it is all about? i read the announcements but catch no ball.. 
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Fernando Alonso F1 Champ
Donald Trump
Joined: 10 Oct 2007
Posts: 13475
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| Posted: Mon Dec 14, 2009 4:55 pm Post subject: |
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this is what i have from dbs vickers.....suntec is stilll a BUY BUY BUY 
| Quote: | Suntec REIT: BUY; S$1.28; Bloomberg Code: SUN SP A positive move
Price Target : 12-Month S$ 1.38 (Prev S$ 1.32)
by: MunYee LOCK +65 6398 7972
and Derek TAN +65 6398 7966
Private placement of S$152.9m
Balance sheet strengthened, minimal DPU dilutive impact
Maintain Buy with TP of $1.38
S$152.9m private placement. Suntec Reit has completed a private placement of 128.5m new units at S$1.19 each, which was >5x oversubscribed. The issue price represents a 6.5% discount to the VWAP price of $1.2724 and 4.6% discount to the adjusted VWAP of $1.2475. Gross proceeds of S$152.9m (net
S$149m) will be used to reduce bank borrowings. The new units will not be entitled to the advance dividend distribution.
Minimal dilutive impact. We view this exercise as a positive strategic move on the group’s capital management exercise. Post placement, gearing is anticipated to decline to 31.5% from 34.3%, increasing the flexibility of its balance sheet. In terms of DPU impact, FY10 DPU estimate of 9cts is lowered by 3.3% to 8.7cts, after adjusting for interest savings.
Maintain Buy. We maintain our Buy call for Suntec. Post placement, FY10 DPU yield remains attractive at 6.8%, on the higher end of its comparable peer range. Suntec’s properties are well located and is expected to benefit from the expected increased vibrancy of the Marina Bay area when the Marina Bay Sands IR is opened. Our adjusted target price of $1.38 offers potential absolute return of 14.6%.
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"Dont change lifestyle! Change Government!!"
I mean Change the Barisan Najis govt !!!!! Dont get it wrong ! |
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Bozo!
Renesial Leong
Joined: 21 Aug 2009
Posts: 840
Location: Mind & Body Are In 2 Different Places
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| Posted: Mon Dec 14, 2009 5:00 pm Post subject: |
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DPU 6.8% is very miserable leh.. *grrr*
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xsw05
Renesial Leong
Joined: 15 Aug 2006
Posts: 485
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| Posted: Fri Dec 18, 2009 3:07 pm Post subject: |
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From DBS report, the estimated FY10 DPU is 9 ctn (before dilution) and is 22% decline compare to this year (FY DPU is 11.59ctn). What basis they are using in the estimation and moreover they never disclose in the report.
Considering the economy start picking up in SG, do you think Suntec's income will decline by 22% next year? |
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Bozo!
Renesial Leong
Joined: 21 Aug 2009
Posts: 840
Location: Mind & Body Are In 2 Different Places
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| Posted: Wed Dec 23, 2009 6:20 pm Post subject: |
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still cheonging.. $1.37 now
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Bozo!
Renesial Leong
Joined: 21 Aug 2009
Posts: 840
Location: Mind & Body Are In 2 Different Places
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| Posted: Fri Jan 08, 2010 9:32 am Post subject: |
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1.42..
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Fernando Alonso F1 Champ
Donald Trump
Joined: 10 Oct 2007
Posts: 13475
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| Posted: Tue Jan 26, 2010 11:33 am Post subject: |
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Suntec Real Estate Investment Trust announced a distribution income of S$47.83 million for the
period ended 31 December 2009 (“4Q FY09”), which was 8.4% higher compared to 4Q FY08. The
distribution per unit of 2.886 Singapore cents was 1.0% higher year-on-year. Gross revenue and
net property income for 4Q FY09 decreased 2.7% and 1.4% respectively to S$61.7 and S$47.2
million compared to 4Q FY08. For FY09, revenue and net property income increased 5.4% and 5.6%
respectively to S$253.1 million and S$192.2 million.
DPU 8.7% ...
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"Dont change lifestyle! Change Government!!"
I mean Change the Barisan Najis govt !!!!! Dont get it wrong ! |
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Bozo!
Renesial Leong
Joined: 21 Aug 2009
Posts: 840
Location: Mind & Body Are In 2 Different Places
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| Posted: Tue Jan 26, 2010 12:51 pm Post subject: |
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buy ah...
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