Starhill Global Reit

(24-07-2013, 12:10 AM)KopiKat Wrote: Perhaps we should look at YTL....

A good friend from KL recently informed me the YTL family is not a "simple family" to borrow a term used by another forumer here...

(24-07-2013, 12:17 AM)swakoo Wrote:

(24-07-2013, 12:10 AM)KopiKat Wrote: Perhaps we should look at YTL....

A good friend from KL recently informed me the YTL family is not a "simple family" to borrow a term used by another forumer here...

All those tycoons from our neighbouring ASEAN countries, coming from an ethnic minority and being able to rise to the top in an environment which many a time almost borders on racial discrimination.... are never simple...

(24-07-2013, 12:27 AM)KopiKat Wrote:

(24-07-2013, 12:17 AM)swakoo Wrote:

(24-07-2013, 12:10 AM)KopiKat Wrote: Perhaps we should look at YTL....

A good friend from KL recently informed me the YTL family is not a "simple family" to borrow a term used by another forumer here...

All those tycoons from our neighbouring ASEAN countries, coming from an ethnic minority and being able to rise to the top in an environment which many a time almost borders on racial discrimination.... are never simple...

Fully agree with you , if they are simple, they wouldn't be multi billion-airs now.
I invested in YTL Corp for many years and am still happy with Francis Yeoh's management. Believe those long-term shareholders of YTL Corp who invested in him are happy with the total return of their investments.

Quote:

(24-07-2013, 12:10 AM)KopiKat Wrote: A good friend from KL recently informed me the YTL family is not a "simple family" to borrow a term used by another forumer here...

All those tycoons from our neighbouring ASEAN countries, coming from an ethnic minority and being able to rise to the top in an environment which many a time almost borders on racial discrimination.... are never simple...

AseanTradingLink.blogspot : The Man Who Brings Water to Bath YTL Corporation's Francis Yeoh



AseanTradingLink.blogspot : Corporate Pricess 3 :Ruth Yeoh and siblings

By : OCBC

Local Retail REITs: Outlook remains sanguine

Local retail landlords ended 2Q13 on a positive note, with results mostly in line with our expectations.

Aggregate leverage for the quarter has also improved sequentially across the board. Notably, a significant portion of the REITs’ existing borrowings are either based on fixed rates or hedged. This will likely limit the impact of rising interest rates on the REITs’ DPUs and yields.

Looking ahead, we are maintaining our positive view on the local retail REITs due to AEI activities and better rental rates for the leases due for renewal. In addition, the local retail landscape has remained largely stable.

According to Jones Lang LaSalle (JLL) 2Q13 Singapore property market review report, the growth in rents island-wide is likely to range between 0% and 0.2%, while capital values grow by 2.7%-3.8% in 2013.

We are keeping our OVERWEIGHT rating on the local retail REIT subsector. Starhill Global REIT remains as our preferred pick, due to its apparent growth drivers, higher-than-average yield of 6.8% and compelling valuation (0.88x P/B).

What are all these for ? Hope some friends here can help to enlighten, thanks.



SGX-ST Announcement
ADDITION OF S-REIT CONSTITUENTS IN BENCHMARK INDEX
YTL Starhill Global REIT Management Limited (the “Manager”), the manager of Starhill Global Real
Estate Investment Trust (“Starhill Global REIT”), has been informed by FTSE Group (“FTSE”) that
Croesus Retail Trust, Mapletree Greater China Commercial Trust and Religare Health Trust have
been added to the FTSE Singapore All Cap Index and the Benchmark Index1 (as defined in the
prospectus of Starhill Global REIT dated 13 September 2005 (“Prospectus”)) on 23 September 2013.
The Benchmark Index1 is compiled and calculated independently by FTSE.
The Benchmark Index1 is relevant to the determination of the performance fee that may be paid to the
Manager under the trust deed constituting Starhill Global REIT dated 8 August 2005 (as amended)
(“Trust Deed”). Under the Trust Deed, the Manager is entitled to a performance fee2 where the
accumulated return (comprising capital gains and accumulated distributions and assuming all
distributions are re-invested in Starhill Global REIT) of the units in Starhill Global REIT in any sixmonth
period ending 30 June or 31 December exceeds the accumulated return (comprising capital
gains and accumulated distributions and assuming re-investment of all distributions) of the
Benchmark Index1. More details regarding the fees that the Manager is entitled to under the Trust
Deed may be found in the Prospectus.
As at 23 September 2013, the Singapore-listed real estate investment trusts in the FTSE Singapore
All Cap Index and which comprise the Benchmark Index1 are as follows:
1. AIMS AMP Capital Industrial REIT;
2. Ascendas Hospitality Trust;
3. Ascendas India Trust;
4. Ascendas Real Estate Investment Trust;
5. Ascott Residence Trust;
6. Cache Logistics Trust;
7. Cambridge Industrial Trust;
8. CapitaCommercial Trust;
9. CapitaMall Trust;
10. CapitaRetail China Trust;
11. CDL Hospitality Trusts;
12. Croesus Retail Trust;
13. Far East Hospitality Trust;
1 Starhill Global REIT has been excluded from the Benchmark Index in accordance with the definition of “Benchmark
Index” in the Trust Deed dated 8 August 2005 between the Manager and HSBC Institutional Trust Services
(Singapore) Limited, in its capacity as trustee of Starhill Global REIT (as amended).
2 Under the Trust Deed, the Manager is entitled to receive, inter alia, management fees comprising a base fee and a
performance fee.
2
14. First Real Estate Investment Trust;
15. Fortune Real Estate Investment Trust;
16. Frasers Centrepoint Trust;
17. Frasers Commercial Trust;
18. Keppel REIT;
19. Lippo Malls Indonesia Retail Trust;
20. Mapletree Commercial Trust;
21. Mapletree Greater China Commercial Trust;
22. Mapletree Industrial Trust;
23. Mapletree Logistics Trust;
24. Parkway Life Real Estate Investment Trust;
25. Perennial China Retail Trust;
26. Religare Health Trust;
27. Sabana Shari’ah Compliant Industrial Real Estate Investment Trust;
28. Starhill Global REIT1; and
29. Suntec Real Estate Investment Trust.
YTL Starhill Global REIT Management Limited
(Company registration no. 200502123C)
(as manager of Starhill Global Real Estate Investment Trust)
Lam Chee Kin
Joint Company Secretary
7 October 2013

SGREIT’s 3Q 2013 DPU up 9.0% y-o-y
mainly driven by strong performance of the Singapore portfolio
HIGHLIGHTS
• Singapore portfolio continues its strong performance with high occupancies and positive rental
reversions in both retail and office sectors
• Step-up rent increase of 7.2% for Malaysia portfolio and the Plaza Arcade acquisition contributed
to overseas portfolio
• Drawdown of new unsecured loan facilities to refinance its matured debts in 2013, with no
refinancing requirement until June 2015
• Corporate rating was upgraded to ‘BBB+’ (with stable outlook) by Standard & Poor’s in July 2013
SINGAPORE, 25 October 2013 – YTL Starhill Global REIT Management Limited, the manager of
SGREIT, today announced 3Q 2013 revenue of S$48.8 million, 5.5% increase over that achieved in
3Q 2012. Net property income (“NPI”) for 3Q 2013 was S$38.0 million, representing an increase of
4.4% over 3Q 2012, mainly attributable to the continued strong performance of the Singapore
portfolio.
Income to be distributed to Unitholders in 3Q 2013 was S$26.1 million, 20.8% higher than that of
S$21.6 million in 3Q 2012. Income to be distributed to CPU holder(s) in 3Q 2013 declined 88.6% y-oy
to S$0.3 million following the CPU conversion into 210.2 million units by the YTL Group on 5 July
2013. Distribution Per Unit (“DPU”) for the period 1 July 2013 to 30 September 2013 was 1.21 cents,
9.0% higher compared to the 1.11 cents achieved for the previous corresponding period. On an
annualised basis, the latest distribution represents a yield of 6.04%1. Unitholders can expect to
receive their 3Q 2013 DPU on 25 November 2013. Book closure date is on 4 November 2013 at 5.00
pm.
1

FY 2013 DPU up 13.9% to 5.00 cents; 4Q 2013 DPU up 8.8% y-o-y to 1.23 cents
– Primarily led by strong performances from Singapore and Australia
– Annualised 4Q 2013 yield of 6.22% based on closing price of S$0.785 on 31 December 2013
 Singapore portfolio remains key growth driver
– Singapore Retail NPI grew 10.2% y-o-y in 4Q 2013 while Singapore Office achieved NPI growth of 11.5%
y-o-y in 4Q 2013 on healthy demand and limited new supply of office space in Orchard Road
 Australia portfolio benefited from new acquisition
– Australia portfolio NPI up 23.2% y-o-y in 4Q 2013 on contributions from Plaza Arcade acquired in 1Q 2013
– Asset redevelopment plans to optimise connections between David Jones Building and Plaza Arcade are
currently in planning
 Strong capital base
– Healthy debt headroom; gearing ratio of 29.0%
– No refinancing requirement until June 2015
– 94% of the Group’s borrowings are fixed/hedged via interest rate swaps and caps, mitigating the impact of
interest rate fluctuations on distribution
 NAV per unit in 4Q 2013 increased by 6.9% q-o-q to $0.93 due to higher portfolio valuation

3Q DPU increase to 1.27 cents inclusive of distribution of capital of 0.12 cents.

http://infopub.sgx.com/Apps?A=COW_CorpAn...d68e0c4867

Can some friends here help to enlighten what does it mean by '' Distribution of capital " ? Return of reserve ??

Isetan to close shop at Wisma Atria

Quote:SINGAPORE: Japanese department store operator Isetan has announced plans to stop its own retailing operations at its Wisma Atria store from the second quarter of 2015.

In a stock exchange filing on Friday (Dec 26), Isetan said it intends however, to continue retail activities and food and beverage services at the premises "by housing tenants and providing the necessary facilities management".

While it will endeavour to lease out all floors of the premises, Isetan added that it may not be able to achieve full tenancy, because of market conditions or commercial reasons. This could mean that Isetan may continue operating retail activities in that part of the premises until tenants are found.

Isetan Orchard has been at Wisma Atria since 1986.

Isetan said it will continue to operate its own department store operations in the Orchard Road shopping belt via its Isetan Scotts Store in Shaw House. It also has other four stores in the suburbs - at Tampines, Katong, Serangoon Central and Jurong East - and Isetan reiterated that it is committed to its long-term purpose of running department stores and supermarkets.

Isetan posted a net loss of S$1.2 million for Q2, and had earlier warned that it expects to report a loss for the third quarter of the year, ended Sep 30.

This doesn't sound good for Starhill.