Key Points
- DPU of 3.04 cents for the period from 26 November 2010 to 31 March 2011.
- Annualised DPU of 8.81 cents exceeds forecast by 2.1 %.
- Net Property Income of S$23.0 million is in line with IPO forecast.
- Sabana on track to deliver the forecast DPU as announced in its IPO Prospectus.
- As at 31 March 2011, the 15 properties in Sabana REIT portfolio have a total gross floor area (“GFA”) of over 3.2 million sq ft.
- Total assets under management stood at S$850.7 million.
- The aggregate debt-equity ratio is 24.9% as at balance sheet date.
- The Manager is actively pursuing credit rating with the aim of lowering the cost of borrowings.
- Unitholders can expect to receive their first quarterly DPU for the period 26 November 2010 to 31 March 2011 on Thursday, 16 June 2011. The closure of Sabana REIT’s transfer books and register of unitholders is 5.00pm on Thursday, 12 May 2011.
- NAV per unit of $1.01 as at 31 Mar 2011.
The maiden distribution of Sabana since IPO is for the period from 26 Nov 2010, the Listing Date, to 31 Mar 2011. The DPU of 3.04 cents will be paid on 16 Jun 2011. Books closure is on 12 May 2011.
The Reit currently does not have a crediting rating, and can thus only gear up to 35%. Its current gearing is at 24.9%.
Related Posts
- Results Release
- DPU Information Page
- SABANA REIT - Admission of 632,800,000 units to the Official List of SGX-ST
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