Key Points
- DPU for the quarter at 1.88 cents.
- Add to the DPU of 1.85 cents in the last quarter, the upcoming semi-annual distribution is estimated to be 3.73 cents.
- Following an independent valuation as at 31 December 2009, there is a net decrease of S$327.6 million or 5.4% in the fair value of the Trust’s investment properties compared to its last valuation on 22 May.
- The value of its investment properties and total assets is now S$5.7 billion and S$6.1 billion respectively.
- The Trust’s net asset value (NAV), after adjusting for the 2H 2009 distributable income to unitholders, is S$1.37 per unit as at 31 December 2009.
- Latest gearing is at 33%.
- Grade A properties continued to record an increase in occupancy from 97.9% last quarter to 98.7% this quarter.
- Overall portfolio has achieved a committed occupancy of 94.8%, up from 94.0% in the third quarter of 2009.
- Books will be closed at 5.00 p.m. on Tuesday, 29 January 2010 for the purpose of determining unitholders' entitlements.
- Distribution will be paid on Friday, 26 February 2010.
Based on the closing price of 1.18 on Jan 19, the semi-annual DPU of 3.73 cents represents an annualized yield of 6.32%. Gearing is at 33%, up from around 31% previously. Latest NAV per unit is S$1.37, down from S$1.49 previously.
Please take note of the related news about the CCT's sale of Robinson Point and the potential impact on DPU and NAV.
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