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Author: kimeng   |   Latest post: Fri, 17 Aug 2018, 12:04 PM

 

Viva Industrial Trust (VIT): In Line Set of Results

Author:   |    Publish date:


Viva Industrial Trust's (VIT) 1Q results were within expectations.

Revenue increased 4.8% YoY to S$28.7m while distributable income dropped 9.2% YoY to S$16.2m, mainly due to the management fees being paid in cash alone as opposed to a combination of cash and stapled securities.

However, distribution declared was 0.8% higher YoY due to a S$1.78m top-up consisting of all previously retained distributable income arising from the Jackson Square Rental Support settlement.

As a result of 1.6% YoY increase in the number of stapled securities for calculation of DPU, DPU dropped 0.9% YoY to 1.838 S cents or 24.4% of our full-year forecast.

In other updates, the period of exclusivity for the discussions on the proposed merger with ESRREIT has been extended to 31 May 2018.

We place our BUY rating and fair value of S$0.93 under review pending further details.

Source: OCBC Research - 16 May 2018

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Labels: Viva Ind Tr

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Chart Stock Name Last Change Volume 
Viva Ind Tr 0.915 +0.005 (0.55%) 1,669,300 

Market Buzz

Date Type Subject
13-Aug-2018 Blog Viva Industrial Trust: 2Q Results Within Expectations
17-Aug-2018 Announcement General Announcement::Proposed Merger of Viva Industrial Trust and ESR-REIT by way of a Trust Scheme of Arrangement
16-Aug-2018 Announcement Extraordinary/ Special General Meeting::Voluntary
16-Aug-2018 Announcement REPL::Court Meeting::Voluntary
16-Aug-2018 Announcement General Announcement::Proposed Merger of Viva Industrial Trust and ESR-REIT by way of a Trust Scheme of Arrangement
15-Aug-2018 Announcement General Announcement::Proposed Merger of Viva Industrial Trust and ESR-REIT by way of a Trust Scheme of Arrangement
14-Aug-2018 Announcement General Announcement::Proposed Merger of Viva Industrial Trust and ESR-REIT by way of a Trust Scheme of Arrangement
13-Aug-2018 Announcement General Announcement::Proposed Merger of Viva Industrial Trust and ESR-REIT by way of a Trust Scheme of Arrangement
13-Aug-2018 Announcement Financial Statements and Related Announcement::Second Quarter and/ or Half Yearly Results
13-Aug-2018 Announcement Cash Dividend/ Distribution::Mandatory
13-Aug-2018 Announcement General Announcement::Tax Transparency Treatment on Rental Support

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