Starhill Global REIT to appeal court decision - Channel NewsAsia

Starhill Global REIT to appeal court decision - Channel NewsAsia

Starhill Global Updated Target Price following Q1 2011 result release

Starhill Global Updated Target Price following Q1 2011 result release:

Brokerage	Recommendation	Target Price (S$)	Date
DBS Vickers	BUY	0.73	27/04/11
OCBC	BUY	0.70	27/04/11

Latest updates at Stock Target Price.

Related Posts

• Starhill Global Q1 2011 Quarterly Earnings Report

Starhill Global Q1 2011 Quarterly Earnings Report

Starhill Global Q1 2011 Quarterly Earnings Report:

Press Release Whitewash Presentation Slides Financial Statements

Key Points

• 1Q 2011 DPU of 1.07 cents achieved, a 12.6% increase over 1Q 2010 and the highest quarterly DPU (post-rights issue) ever since IPO.
• On an annualised basis, the latest distribution represents a yield of 7.00% based on closing unit price of S$0.62 on 31 March 2011. 
• Asset redevelopment of Wisma Atria and Starhill Gallery to enhance the quality and performance of the retail assets.
• As at 31 March 2011, Starhill Global REIT’s outstanding debt was S$840.4 million and the weighted debt maturity profile was approximately 2.9 years. 
• Starhill Global REIT’s gearing level remained prudent at 30.2% and its interest cover ratio stood at a robust 4.6 times for the quarter ended 31 March 2011.
• The Books will close from 5pm on 5 May 2011 for the purpose of  determining Unitholders’ entitlement to the distribution. 
• The distribution will be paid on 31 May 2011.
• NAV per unit of $0.94 as at 31 May 2011.

Author's Note
The DPU for the reporting quarter is 1.07 cents and will be paid on 31 May 2011. Books closure is on 5 May 2011.

The DPU was 1.04 cent in the previous quarter.

Related Posts

• Results Release 
• DPU History  
• Starhill Global Q4 2010 Quarterly Earnings Report
• Starhill Global Q3 2010 Quarterly Earnings Report

Starhill Global - Date of Result Release for Q1 2011

Updated date of Result Release for Q1 2011:
Starhill Global APR 26

Latest Update at Results Release.

Starhill Global Reit announces asset redevelopment of Starhill Gallery

Starhill Global Reit announces asset redevelopment of Starhill Gallery:

• Press Release

Key Points

• YTL Starhill Global has announced the asset redevelopment of Starhill Gallery in Kuala Lumpur, Malaysia.
• The asset redevelopment of Starhill Gallery will inject a new level of vibrancy and excitement to the retail scene in Kuala Lumpur.
• Expected to complete by 2Q 2011, the asset redevelopment will create an additional net lettable area of approximately 8,100 square feet. 
• The rejuvenated Starhill Gallery will offer increased visibility of store fronts and an enhanced range of luxury merchandise, in particular the watch and jewelry brands.
• The new façade will give Starhill Gallery an iconic presence on Bintang Walk, emerging as a freshand distinctive luxury shopping destination for high-end shoppers.
• The Starhill Gallery asset redevelopment is expected to incur capital expenditure of about RM25 million or S$10.4 million and generate an additional NPI of approximately RM1.7 million or S$0.7 million per annum, representing a ROI of approximately 7.0%. 
• The cost of the asset redevelopment works will be funded from the remaining proceeds of the rights issue by Starhill Global REIT completed in 2009 and/or working capital.

Related Posts

• STARHILL GLOBAL REIT ANNOUNCES ASSET REDEVELOPMENT OF WISMA ATRIA

Starhill Global Updated Target Price following Asset Enhancement Announcement

Starhill Global Updated Target Price following Asset Enhancement Announcement:

REIT	Brokerage	Recommendation	Target Price (S$)	Date
Starhill Global	DBS Vickers	BUY	0.730	01/03/11

Latest updates at Stock Target Price.
Related Posts

• STARHILL GLOBAL REIT ANNOUNCES ASSET REDEVELOPMENT OF WISMA ATRIA

STARHILL GLOBAL REIT ANNOUNCES ASSET REDEVELOPMENT OF WISMA ATRIA

STARHILL GLOBAL REIT ANNOUNCES ASSET REDEVELOPMENT OF WISMA ATRIA  :

• Press Release

Key Points

• Asset redevelopment of Wisma Atria to boost the mall’s positioning on Singapore’s Orchard Road. The first phase of the redevelopment will commence in 1Q 2011 and is expected to complete by 3Q 2012.
• Phase one of Wisma Atria’s asset redevelopment is expected to incur capital expenditure of about S$31 million and generate an additional net property income of approximately S$2.5 million per annum when stabilized, representing a return on investment of approximately 8.0%. 
• The cost of the asset redevelopment works will be funded from the proceeds of the rights issue completed in 2009 and/or working capital.

Related Posts

• Starhill Global Q4 2010 Quarterly Earnings Report

Starhill Global Q4 2010 Quarterly Earnings Report

Starhill Global Q4 2010 Quarterly Earnings Report:

• Press Release
• Financial Statements
• Presentation Slides

Key Points

• DPU of 1.04 cents for the reporting quarter.
• Revenue was S$45.6 million, 33.0% higher than that achieved in 4Q 2009. 
• Net property income was higher at S$36.7 million, representing an increase of 37.0% over 4Q 2009, mainly attributed to the contribution from Starhill Gallery and Lot 10 in Malaysia, and David Jones Building in Australia, which were acquired in 2010.
• The Books will close from 5pm on 7 Feb 2011 for the purpose of determining Unitholders’ entitlement to the distribution. 
• The distribution will be paid on 28 February 2011.
• NAV per unit of $0.94 as at 31 December 2010.
• Gearing of 30.2% as at 31 December 2010.

Author's Note
The DPU for the reporting quarter is 1.04 cents and will be paid on 28 February 2011. Books closure is on 7 Feb 2011.

The DPU was 1.00 cent in the previous quarter.

Related Posts

• Results Release 
• DPU Information Page 
• Starhill Global Q3 2010 Quarterly Earnings Report

Ascott, FCT, Starhill, First Reit, Suntec, Plife, CDL H-Trust - Updated Target Price

Updated Target Price:

REIT	Brokerage	Recommendation	Target Price (S$)	Date
AscottReit	DBS Vickers	BUY	1.380	07/01/11
FrasersCT	OCBC	HOLD	1.580	11/01/11
Starhill Gbl	Kim Eng	BUY	0.800	11/01/11
First Reit	OCBC	BUY	0.840	07/01/11
Suntec	OCBC	HOLD	1.550	06/01/11
PLife	CIMB	OUTPERFORM	1.960	05/01/11
CDL H-Trust	Phillip Securities	BUY	2.380	05/01/11

Latest updates at Stock Target Price.

CRCT, Starhill - Date of Result Release for Q4 2010

Updated date of Result Release for Q4 2010:

Starhill  JAN 26 (AM)
CRCT  JAN 26 (AM)

Latest Update at Results Release.

Updated Target Price by OCBC for various Reits

Updated Target Price by OCBC:

REIT	Recommendation	Target Price (S$)	Date
AscendasReit	HOLD	2.210	10/12/10
AscottReit	BUY	1.380	10/12/10
CapitaComm	HOLD	1.520	10/12/10
CapitaMall	HOLD	2.050	10/12/10
FrasersComm	BUY	0.180	10/12/10
FrasersCT	HOLD	1.500	10/12/10
LippoMapleTrust	BUY	0.590	10/12/10
MapleTreeLog	BUY	1.000	10/12/10
Starhill Gbl	BUY	0.660	10/12/10
Suntec	HOLD	1.500	10/12/10

 
Latest updates at Stock Target Price.

Starhill Gbl, MapleTreeLog Updated Target Price

Starhill Gbl, MapleTreeLog Updated Target Price:

Starhill Gbl	Kim Eng	BUY	0.800	25/11/10
MapleTreeLog	OCBC	BUY	1.000	23/11/10

Latest updates at Stock Target Price.

Starhill Global Updated Target Price following Q3 2010 result release

Starhill Global Updated Target Price following Q3 2010 result release.

DBS Vickers	BUY	S$0.76	27/10/10
OCBC	BUY	S$0.66	27/10/10

 
Latest updates at Stock Target Price.

Related Posts
Starhill Global Q3 2010 Quarterly Earnings Report

Starhill Global Q3 2010 Quarterly Earnings Report

Q3 2010 results for Starhill Global:

• Press Release
• Financial Statements
• Presentation Slides

Key Points

• DPU for the reporting quarter is 1.00 cents. 
• Strong performance primarily due to first quarterly contribution from Starhill Gallery and Lot 10.
• On an annualized basis, 3Q 2010 DPU represents a yield of 6.84% based on closing unit price of S$0.58 on 30 September 2010.
• Prudent gearing level of 31% with a post refinancing weighted average debt maturity of 3.4 years.
• Starhill Global REIT’s portfolio now includes 13 prime properties across five countries valued at approximately S$2.6 billion. 
• The geographic breakdown of the portfolio by asset value as at 30 September 2010 was as follows: Singapore 66.3%, Malaysia 17.2%, Japan 7.4%, Australia 6.0%, and China 3.1%.
• The Singapore portfolio’s committed occupancy improved from 95.8% in 30 June 2010 to 96.1% in 30 September 2010.
• NAV per unit was $0.90 as at 30 September 2010.
• The Books will close from 5pm on 3 November 2010 for the purpose of determining Unitholders’ entitlement to the distribution. 
• The distribution will be paid on 29 November 2010. 

Author's Note
The DPU of 1.00 cents will be paid on 29 Nov 2010. Books closure is on 3 Nov 2010.

DPU was 0.91 cents in the previous quarter.

Smaller REITs more attractive on price-to-book ratio: analysts - 25 OCT 2010

Source

SINGAPORE : Singapore's real estate investment trusts (REITs) have risen more than 140 per cent since March 2009 and their value could go up by another 60 per cent, according to analysts.

REITs are currently offering juicy yields, which may start looking less attractive to investors when Singapore government bond yields start to climb higher.

Even then, analysts said there still are some standout performers among REITs that are offering value at current prices.

Singapore REITs are gearing up to acquire more properties.

Leverage ratios - which measure how indebted a REIT is in relation to its assets - have continued to fall this year.

Leverage is now at an average 28 per cent. This shows the REITs are well capitalised and in a better position to buy new properties with debt.

Loy Wee Khim, associate director, Corporate & Infrastructure Ratings, Standard & Poor's, said: "Most of the REITs are also thinking of where they are coming from - a low position because of the recapitalisation during the downturn.

"I think they are ready to acquire new assets to enhance their portfolio, so we find that most of them have the appetite to increase their gearing to below 40 per cent or 40 per cent level."

But OCBC Research said valuations of some REITs are now a tad too rich.

OCBC analysts said investors should shy away from the bigger REITs that are trading at premiums to their book value and focus on some of the smaller ones which are trading at a discount.

Meenal Kumar, an investment analyst at OCBC Investment Research, said: "From the perspective of long-term investors, we're actually calling to avoid the first tier large-cap REITs and instead, focus on what we call the forgotten, but still credible REITs.

"And by credible, I mean strong balance sheets, strong sponsors and of course importantly, high absolute yields. And also they should be trading at most, at parity to book value, but ideally at a discount to book value. And in terms of some of our top picks, we like Starhill Global REIT and Ascott Residence Trust."

Similarly, CIMB has recommended smaller REITs in the industrial space, such as Cache Logistics, as bigger players such as A-REIT are trading at a 30 per cent premium to book value.

Starhill Global, FCT - Date of Result Release for Q3 2010

Updated date of Result Release for Q3 2010:
Starhill Global    Oct 26
FCT      Oct 26 (AM)

Latest Update at Results Release.

Updated Target Price for Ascott Reit, CapitaMall Trust, FrasersCT, LippoMapleTrust, MapletreeLog, Starhill Global, SUNTEC Reit by OCBC

Updated Target Price by OCBC:

AscottReit	BUY	S$1.33	30/09/10
CapitaMall	HOLD	S$2.01	30/09/10
FrasersCT	HOLD	S$1.49	30/09/10
LippoMapleTrust	BUY	S$0.52	30/09/10
MapleTreeLog	BUY	S$0.90	30/09/10
Starhill Gbl	BUY	S$0.65	30/09/10
Suntec	HOLD	S$1.44	30/09/10

Latest updates at Stock Target Price.

Updated Target Price for Starhill Global

Updated Target Price for Starhill Global:

OCBC

BUY

S$0.65

15/09/10

 
Latest updates at Stock Target Price.

Stock Target Price - Updated Target Price for Starhill Global following its 2Q 2010

Updated Target Price for Starhill Global following its 2Q 2010 Earnings Results:

DBS Vickers	BUY	S$0.73	27/07/10
OCBC	BUY	S$0.65	27/07/10

 

Latest updates at Stock Target Price.

REIT Financial News - Q2 2010 Quarterly Earnings Report for Starhill Global

Second quarter 2010 results for Starhill Global:

• Press Release
• Financial Statements
• Presentation Slides

Key Points

• DPU for the period 1 April 2010 to 30 June 2010 was 0.91 cents.
• Income to be distributed to Unitholders in 2Q 2010 was S$17.7 million, 3.6% lower than that of S$18.4 million in 2Q 2009.
• As at 30 June 2010, Starhill Global REIT’s outstanding debt was S$841.5 million of which S$570.0 million matures in September 2010.
• As at 30 June 2010, Starhill Global REIT has a gearing of 30.8% and its interest cover ratio stood at a 4.2 times. 
• The weighted average effective interest rate as at 30 June 2010 is 3.77% per annum.

Author's Note
The quarterly DPU for 2Q 2010 of 0.91 cents will be paid on 27 Aug 2010, with the book closure date on 3 Aug 2010.

The DPU was 0.95 cents for the previous quarter.