Mapletree Commercial Trust

Is there any significance of 'an advanced distribution
for the period from 1 January 2013 to the day immediately prior to the date on which the New Units are issued'? Is an advance distribution beneficial to shareholders?

(25-07-2013, 12:34 AM)Nick Wrote: With MCT results in, its annualized 1Q dividend yield works out to 5.7% yield. Granted, it has exposure to office sector as well but vivocity rent reversion is really awesome.

The above post is from SPHREIT thread.

Yes, it looks great on a y-o-y comparison. But, on a q-o-q basis, only slightly better. The quarterly DPUs,

Q1 (Jun13) = 1.753ct
Q4 (Mar13) = 1.737ct
Q3 (Dec12) = 1.667ct
Q2 (Sep12) = 1.546ct
Q1 (Jun12) = 1.537ct

Yes, rental reversion was awesome for not just VivoCity but also PSA Building (altho' smaller in absolute terms). But, some of the increase in DPU is also coming from their new acquisition (Anson Mapletree) which also increased their gearing from Q4 (Mar13) and which now stands at 40.8%.

http://www.businesstimes.com.sg/companie...-dpu-up-94

Mapletree Commercial Trust Q2 DPU up 9.4%
By
Lee Meixianleemx@sph.com.sg@LeeMeixianBT
25 Oct5:50 AM
Singapore

MAPLETREE Commercial Trust on Friday reported a 9.4 per cent increase in distribution per unit (DPU) to 1.97 Singapore cents for its second quarter ended Sept 30, 2014.

This came on the back of an 11 per cent increase in income available for distribution to S$41.4 million

Looks like a strong REIT: interest rate is climbing up yet its share price is moving up too.

(07-01-2015, 01:32 PM)ValueMushroom Wrote: Looks like a strong REIT: interest rate is climbing up yet its share price is moving up too.

Vm: if my guess is correct, similar to the other mapletree reits, the loans are largely fixed for the next 3-5 yrs. Hence the reit is not impacted, and is further chased by those seeking safety from seemingly riskier counters.

On a longer term, it remains to be seen how much reits can withstand possible interest hikes.

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Proposed Acquisition of the Office and Business Park Components of Mapletree Business City (Phase 1)

Mapletree Commercial Trust ("MCT"), is pleased to announce that DBS Trustee Limited, in its capacity as trustee of MCT, has entered into a put and call option to acquire the office and business park components of Mapletree Business City (Phase 1) located in the Alexandra Precint from Mapletree Business City Pte. Ltd., a wholly-owned subsidiary of Mapletree Investments Pte Ltd for a purchase consideration of S$1,780.0 million.

The Acquisition involves the purchase of the strata leasehold interest of four blocks of office and business park space, namely an office tower (MBC 10) and three business park blocks (MBC 20W, MBC 20E and MBC 30) with a total net lettable area ("NLA") of over 1.7 million square feet. 

Including acquisition-related expenses, the total acquisition cost is expected to be approximately S$1,858.5 million. The Manager of Mapletree Commercial Trust intends to fund the Acquisition with a combination of debt and equity.

(05-07-2016, 03:48 PM)cyclone Wrote: Proposed Acquisition of the Office and Business Park Components of Mapletree Business City (Phase 1)

Mapletree Commercial Trust ("MCT"), is pleased to announce that DBS Trustee Limited, in its capacity as trustee of MCT, has entered into a put and call option to acquire the office and business park components of Mapletree Business City (Phase 1) located in the Alexandra Precint from Mapletree Business City Pte. Ltd., a wholly-owned subsidiary of Mapletree Investments Pte Ltd for a purchase consideration of S$1,780.0 million.

The Acquisition involves the purchase of the strata leasehold interest of four blocks of office and business park space, namely an office tower (MBC 10) and three business park blocks (MBC 20W, MBC 20E and MBC 30) with a total net lettable area ("NLA") of over 1.7 million square feet. 

Including acquisition-related expenses, the total acquisition cost is expected to be approximately S$1,858.5 million. The Manager of Mapletree Commercial Trust intends to fund the Acquisition with a combination of debt and equity.

Anyone interested in this? I am intrigued.

(Disclosure: I work in one of the company residing in MBC. AMA.)

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Mapletree Commercial Trust will be included in the STI from Sep 23, replacing Hutichon Port Holdings Trust.

It may be the reason for its recent run-up. Or maybe the govt recent announcement of the Greater Southern Waterfront has an impact too. I think a lot of people were anticipating this move. Of cos, its recent price surge means its yield has dropped to the low 4%, among the lowest in the SGX REIT universe. 

[SOURCE]
Mapletree Commercial Trust to replace Hutchison Port Holdings Trust on Straits Times Index 
Li Ka Shing's Hutchison Port Holdings Trust dropped from STI, replaced by Mapletree Commercial Trust

MCT is awashed in numerous good news. At $2.3, its yield is only 4%. While it holds excellent assets, I am seriously contemplating to sell my holdings in this hot run-up.

- Inclusion to STI.
- Greater Southern Waterfront.
- Pulau Brani development. Positive for Vivo.
- Govt big push in Deep Tech. Positive for MBC and surrounding tech cluster.
- Being the one of the few Reits holding 100% SG top tier assets.
- Cutting of interest rate.
- Yield hungry investors.

MCT is acquiring MBC II from its sponsor for S$1.55 billion.

Business times article >> Mapletree Commercial Trust to buy S$1.55b business park from sponsor

SGX announcement >> HERE

Circular to unitholders >> HERE

Presentation on proposed acquisition >> HERE