CacheLog Updated Target Price following Q3 2010 result release

CacheLog Updated Target Price following Q3 2010 result release.

CIMB	OUTPERFORM	S$1.30	29/10/10
DBS	BUY	S$1.11	29/10/10

Latest updates at Stock Target Price.

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Cache Logistics Q3 2010 Quarterly Earnings Report

AIMSAMPI Reit Q3 2010 Quarterly Earnings Report

Q3 2010 results for AIMSAMPI Reit:

• Press Release
• Financial Statements 
• Presentation Slides

Key Points

• DPU for the reporting quarter is 0.3968 cents.
• DPU is lower for the quarter due to the issue of 513,309,781 rights units on 14 October 2010 and 7,165,109 Units to the Manager on 19 October 2010 for payment of the acquisition fee in relation to the acquisition of 27 Penjuru Lane. If the new Units issued in October 2010 were excluded, the adjusted DPU would have been 0.5376 cents.
  
• Gross revenue for the quarter increased by 42.1% year-on-year to S$16.8 million.
• Net property income for the quarter increased by 33.0% year-on-year to S$12.0 million.
• Distributable income increased by 56.8% year-on-year to S$8.1 million.
• Unitholder approval for the acquisition of 27 Penjuru Lane Singapore for S$161 million.
• Launched fully underwritten S$79.6 million renounceable rights issue.
• Accepted a letter of commitment for a S$280 million new loan with a significantly lower all in cost of debt and a weighted debt term to maturity of 3.9 years.
• The acquisition of the high quality ramp up warehouse at 27 Penjuru Lane for S$161 million has resulted in a significant increase in the asset base to S$803.9 million as at 28 Oct 2010.
• Gearing level of 28.9% as at 30 Sep 2010, and 34.8% post acquisition of 27 Penjuru Lane.
• Net asset value per unit of S$0.31 as at 30 September 2010, and S$0.26 post acquisition of 27 Penjuru Lane.
• The Books will close from 5pm on 9 Nov 2010 for the purpose of determining Unitholders’ entitlement to the distribution. 
• The distribution will be paid on 17 Dec 2010. 

Author's Note
The DPU of 0.3968 cents will be paid on 17 Dec 2010. Books closure is on 9 Nov 2010.

DPU was 0.538 cents in the previous quarter. DPU is lower for the reporting quarter because of the issue of 513,309,781 rights units on 14 October 2010 and 7,165,109 Units to the Manager on 19 October 2010 for payment of the acquisition fee in relation to the acquisition of 27 Penjuru Lane.

FCT Updated Target Price following Q3 2010 result release

FCT Updated Target Price following Q3 2010 result release.

OCBC	HOLD	S$1.55	26/10/10
DMG	BUY	S$1.66	27/10/10
DBS Vickers	BUY	S$1.74	27/10/10

Latest updates at Stock Target Price.

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FCT Q3 2010 Quarterly Earnings Report

SUNTEC Reit Updated Target Price following Q3 2010 result release

SUNTEC Reit Updated Target Price following Q3 2010 result release and announcement of acquisition of one third interest in MBFC.

Phillip Securities	HOLD	S$1.34	27/10/10
CIMB	OUTPERFORM	S$1.63	27/10/10
DBS Vickers	BUY	S$1.66	27/10/10
OCBC	BUY	S$1.63	28/10/10
DMG	BUY	S$1.71	28/10/10

Latest updates at Stock Target Price.

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• SUNTEC Reit proposed acquisition of a one-third interest in Marina Bay Financial Centre Towers 1 and 2 and the Marina Bay Link Mall - 26 OCT 2010 
• SUNTEC Reit Q3 2010 Quarterly Earnings Report

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.

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Starhill Global Q3 2010 Quarterly Earnings Report

CDL H-Trust Q3 2010 Quarterly Earnings Report

Q3 2010 results for CDL H-Trust:

• Press Release
• Financial Statements 
• Presentation Slides

Key Points

• DPU for the reporting quarter is 2.54 cents after deducting income retained for working capital. Before deducting the retained income the DPU for the period is 2.81 cents.  
• Highest ever quarterly occupancy rate of 91.6% since IPO.
• RevPAR growth for Singapore Hotels up 31.2% to S$199 for 3Q 2010.
• Gearing level of 21.1% as at 30 September 2010.
• NAV per unit of S$1.46 as at 30 September 2010.
• Fitch Rating of BBB-.

Author's Note
The DPU for the reporting quarter is 2.54 cents after deducting income retained for working capital. Note that the reit is paying less than 100% of its distributable income, which is 2.81 cents per unit. There will not be any distribution this quarter as the reit has a semi-annual distribution policy.

DPU available for distribution for the previous quarter 2.87 cents. DPU that was actually paid out for the previous quarter was 2.57 cents.