Key Points
- The DPU for the quarter (2Q 2010) is 1.97 cents.
- Total DPU for 1H 2010 is 3.90 cents.
- Distributable income of S$110.0 million for the financial period from 1 January 2010 to 30 June 2010 (1H 2010).
- The Trust’s distribution yield is 5.9% based on the closing price of S$1.33 per unit on 20 July 2010.
- The books closure date is Friday, 30 July 2010.
- Unitholders can expect to receive their semi-annual estimated DPU payout of 3.90 cents on or around Friday, 27 August 2010.
- An independent valuation of the Trust’s portfolio of investment properties was conducted as at 30 June 2010 which showed a marginal decrease of S$25.7 million or 0.5% in its market value compared to its
last valuation on 31 December 2009. - The value of the Trust’s investment properties and total assets is now S$5.5 billion and S$6.0 billion respectively.
- The Trust’s net asset value (NAV), after adjusting for the 1H 2010 distributable income to unitholders, is S$1.36 per unit as at 30 June 2010.
- Committed occupancy rate has increased to 95.6% from 95.1% as at end of first quarter 2010. Grade A offices have attained 100% occupancy now, up from 99.1% last quarter.
- The Trust’s gearing is at a healthy 32.8% and has only S$85.0 million of debt maturing this year.
- Moody's Investors Service has also changed the rating outlook of CCT to positive from stable, and affirmed CCT's Baa2 corporate family rating and Baa3 senior unsecured debt rating.
The semi-annual DPU of 3.90 cents, which includes the DPU of 1.93 cents for Q1 2010 and 1.97 cents for Q2 2010, will be paid on 27 Aug 2010.
Note that the DPU of 3.90 cents is computed on the basis that none of the Convertible Bonds is converted into Units on or prior to the Books Closure Date. The actual amount may differ if any of the Convertible Bonds is converted into Units on or prior to the Books Closure Date.
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