Mapletree Logistics Trust

[swakoo]

I wonder who and who?

A person with direct knowledge of the deal told Dow Jones late Monday Alliance Global Properties planned to raise up to S$136.6 million by selling its 139.34 million shares, or a 5.7% stake, for S$0.96-S$0.98 each. The price, at the range's low-end, is a 4.5% discount to Monday's closing price.

[KopiKat]

I wonder who and who?

A person with direct knowledge of the deal told Dow Jones late Monday Alliance Global Properties planned to raise up to S$136.6 million by selling its 139.34 million shares, or a 5.7% stake, for S$0.96-S$0.98 each. The price, at the range's low-end, is a 4.5% discount to Monday's closing price.

Wah.. you have a very uptodate source of info!
Confirmed one of the 'who' from SGX Annc

1. Date of change of Interest 10-07-2012

2. The change in the percentage level From 5.74 % To 0 %

3. Circumstance(s) giving rise to the interest or change in interest # Others
# Please specify details Alliance Global Properties Ltd. used to hold 5.74% of units in Mapletree Logistics Trust ("MLT"). As Alliance Global Properties Ltd. now holds less than 5% of the units in MLT, it is no longer a substantial Unitholder.

4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: The divestment by Alliance Global Properties Ltd. in MLT was the result of a transaction.

No. of shares held before the change 139340000

[ValueBeliever]

I dont want to alarm every1 here. The idea of REITS is not sound at all. It is all started by Capital Land recycling its debt and property into a bubble. And the only way out of it is to offer REITS by injecting expensive property into REITS and the rental burden is pass on to the retailers/industrialist!! They then pass this on as inflation to you and I. That 7% you get from your Reits is paying 5% of the inflated prices.

So the best way to survive in this economy is not to spend in BIG SHOPPING MALL. Your HDB estate or internet shopping is much cheaper!

Retailers/Industrialist hit hard time - coming soon and REITS will suffer. Failing to pay sufficient fund to bank and shldrs, all will head for exit. Now with this PERP, its a signal the end is near and they are passing this BUBBLE BOMB to the shldrs directly.

Dont forget the Edge - said some of the REITS mgmt fee paid to their parent Co. are just as ridiculously high. Suckers out of shldrs of REITS.

For all you know, all the Property Co. echelon alrdy see it coming. By the way most industrial property are actually taken up by property related industry and the collapse of property would also end the industrial property last hurray!! We no longer have manufacturing industry!

[Musicwhiz]

The Straits Times
www.straitstimes.com
Published on Mar 23, 2013
Mapletree Logistics Trust selling factory for $15.5m

MAPLETREE Logistics Trust (MLT) is selling a factory in Woodlands for $15.5 million to equipment designer and supplier specialist Advanced Holdings.

The sale of the four-storey building is expected to be completed by May, according to two statements yesterday.

MLT bought the factory in 2007 for $10.3 million. It was valued at $11 million in March last year. The net disposal gain of about $4.95 million from the sale will go to unit holders.

A subsequent announcement will be made when the final distributable amount is determined after clarification over the tax treatment for disposal gain.

The sale is expected to have minimal impact on MLT's net asset value. The trust's 110 logistic assets in the region had a total book value of $4.1 billion as of Dec31 last year.

Advanced Holdings said in a statement that it will fund the purchase with internal resources and bank borrowings.

The factory at 30 Woodlands Loop has a built-up area of 8,300 sq m and a leasehold tenure of about 60 years that began on May1, 1995.

Advanced Holdings will move all its operations from its premises in Senoko South Road.

The new space will cater for expansion plans rather than relying on rented premises and relocating each time the lease term expires.

Subject to approval by JTC Corporation, the company also intends to rent out any excess space before its expansion plans take off.

RACHEL SCULLY

[HitandRun]

Highlight:

4.95 gain out of 15.5 sales implies cost of 10.55 => a hefty premium of 47% on book value.

This transaction appears to reinforce my observation that industrial REITs are valuing properties in their books on a conservative basis. For more details please refer to thread on Analysing REITs.

[mkmk]

Financial Statement: http://infopub.sgx.com/FileOpen/MLT_2QFY...eID=260142

Press Release: http://infopub.sgx.com/FileOpen/MLT_PR_2...eID=260148

Presentation Slides: http://infopub.sgx.com/FileOpen/MLT_2Q13...eID=260149

FY13Q3 Highlights
- Distribution per Unit increased 6% year-on-year to 1.82 cents. The year-on-year improvements were driven by an enlarged portfolio, higher contribution from existing assets due to positive rental reversions, as well as lower financing costs. Also contributing to this performance was the partial distribution of the net gain from the divestment of 30 Woodlands Loop amounting to S$0.6 million in amount distributable, or about 0.025 cents per Unit1
- Stable occupancy with positive rental reversions of 24% achieved

(Not vested)

[Dividend Warrior]

Seems like MLT is venturing more into Iskandar Malaysia. Maybe other industrial REITs may follow suit soon.

(Vested)
_________________________________________________________________

Singapore, 10 January 2014 – Mapletree Logistics Trust Management Ltd. (“MLTM”), as Manager of Mapletree Logistics Trust (“MLT”), wishes to announce the proposed acquisition of an industrial warehouse in Iskandar Malaysia (the “Property”) from Mapletree Industrial Fund (“MIF”) for a purchase consideration of MYR 88.5 million (~S$34.3 million1). MIF is a closed-end fund managed by MLT’s sponsor Mapletree Investments Pte Ltd.

Ms Ng Kiat, Chief Executive Officer of MLTM, said, “We are pleased to strengthen MLT’s portfolio and its footprint in Iskandar Malaysia with this quality acquisition. Representing MLT’s fourth asset in Iskandar, the acquisition is in line with our focus to scale up presence in Malaysia and to support our customers’ growing demand for quality logistics facilities. We are excited to participate in the future growth potential of Iskandar, which is well poised to become a major economic hub in Southeast Asia.”

At the purchase consideration of MYR 88.5 million, the acquisition is expected to generate an initial net property income yield of approximately 8.4%, higher than the implied property yield of 7.1% for MLT’s existing Malaysia portfolio. It is also expected to be DPU-accretive.

The acquisition will be funded by debt and is expected to complete by 3Q FY14/15, subject to approval from the relevant authorities. Upon completion, MLT's aggregate leverage ratio is estimated to be approximately 34.9%2. Total portfolio will increase to 112 properties with a book value of S$4.2 billion3.

[violinist]

I dont want to alarm every1 here. The idea of REITS is not sound at all. It is all started by Capital Land recycling its debt and property into a bubble. And the only way out of it is to offer REITS by injecting expensive property into REITS and the rental burden is pass on to the retailers/industrialist!! They then pass this on as inflation to you and I. That 7% you get from your Reits is paying 5% of the inflated prices.

So the best way to survive in this economy is not to spend in BIG SHOPPING MALL. Your HDB estate or internet shopping is much cheaper!

Retailers/Industrialist hit hard time - coming soon and REITS will suffer. Failing to pay sufficient fund to bank and shldrs, all will head for exit. Now with this PERP, its a signal the end is near and they are passing this BUBBLE BOMB to the shldrs directly.

Dont forget the Edge - said some of the REITS mgmt fee paid to their parent Co. are just as ridiculously high. Suckers out of shldrs of REITS.

For all you know, all the Property Co. echelon alrdy see it coming. By the way most industrial property are actually taken up by property related industry and the collapse of property would also end the industrial property last hurray!! We no longer have manufacturing industry!

16-07-2012

[Layman A]

Hi Value buddies

I chance upon this thread doing some research on Mapletree Logistics Trust.

Seems that the 350million 5.35% perpeptual securities issued back in 2012 by MLT was hammered badly by strong criticism by the value buddies here.

Actually, I find the 5.35% yield quite attractive, but then I could not locate it in the sgx website, nor can I find it using google.

Was the proposed issue of this 5.35% perpeptual securities dropped in the end ?

[AlphaQuant]

Actually, I find the 5.35% yield quite attractive, but then I could not locate it in the sgx website, nor can I find it using google.

Was the proposed issue of this 5.35% perpeptual securities dropped in the end ?

The issue is available in the OTC market i.e. only for accredited investors through your banks' relationship managers. The minimum denomination is 250k.