TODAY'S HEADLINE


CAPITA RETAIL CHINA TRUST 
CapitaRetail China Trust Management Limited (CRCTML), the manager of CapitaRetail China Trust (CRCT), announced today that its distribution per unit (DPU) for 2Q 2012 was 2.41 cents, an increase of 12.1% over the 2.15 cents for the same quarter last year. Based on an annualised DPU of 9.69 cents and CRCT's closing price of S$1.335 per unit on 24 July 2012, the annualised distribution yield is 7.3%. Unitholders can expect to receive their DPU for 2Q 2012, along with their DPU for 1Q 2012, totalling 4.82 cents on 26 September 2012.

CRCT's net property income (NPI) for 2Q 2012 was RMB124.4 million, up 15.0% from the RMB108.1 million for 2Q 2011. Mr Tony Tan, CEO of CRCTML, said, 'In 2Q 2012, CRCT's gross revenue increased 18.2% to RMB190.2 million, while shopper tra'c and tenant sales across our multi'tenanted malls1 increased by 26.4% and 13.1% respectively. We achieved strong rental reversions of 15.2%.

CapitaMall Xizhimen in Beijing achieved the highest rental reversion of 28.9% on the back of a 52.1% increase in shopper tra'c year'on' year in 2Q 2012, following the opening of the Basement 1 connection to the subway. We see further growth potential in the mall through the 'ne'tuning of tenant mix. Thus, we will be bringing in more international fast fashion brands such as Urban Renewal and UNIQLO to CapitaMall Xizhimen that will a''ract more shopper tra'c and generate higher revenue.'

NEWS BUZZ
Mapletree Industrial Trust (S$1.235) 
Strong performance boosted by positive rental revisions
Mapletree Industrial Trust (MIT) saw its distributable income rise 27.1% to $36.9mil for the 1Q ended June 30 and DPU UP 14% to 2.26 cents. Q1 net property income rose 26.4% to $48.3mil, largely thanks to revenue contributions and cost synergies from the acquisition of the 'a''ed factories in August last year, said Mapletree Industrial Trust Management CEO Tham Kuo Wei. Gross revenue rose 21.6% year on year to $66.9mil in the quarter. The Reit's por''olio of 81 industrial properties, such as business park buildings and warehouses in Singapore, had an average occupancy rate of 94.9% in the quarter.

First Real Estate Investment Trust (S$0.965) 
Q2 DPU rises 22.2%
First Reit posted a 2Q DPU of 1.93 cents. Distributable income grew 23.1% to $12.17mil for the three months ended June 30. Gross revenue rose 6.1% to $14.03mil with the contribution of Sarang Hospital in South Korea and a higher rental income from the rest of its properties, while net property income grew 6.1% as well to $13.9mil. Its low debt'to'property valuation ratio of 15.9%, well below the regulatory limit of 35%, allows it to further expand its asset base.

Starhill Global Reit (S$0.695) 
Posts 3.8% rise in Q2 DPU  
Starhill Global REIT (SGReit), which counts Wisma Atria and Ngee Ann City in its por''olio, reported a 3.8% year'on'year rise in DPU to 1.08 cents for the 2Q. The books closure date is on Aug 1 and payable on Aug 28. SGReit's distributable income for the quarter was $23.31mil, an increase of 2% from the same period last year, while net property income was up 4.4% at $37.14mil. Gross revenue inched up 4.8% year on year to $46.36mil, buoyed by rental contributions from Wisma Atria and increased occupancy in the o'ce properties. SGReit's Singapore por''olio contributed 62.8% of total revenue, or $29.1mil in Q2. Occupancy levels for Wisma Atria and Ngee Ann City o'ces rose to 99.0% and 98.0% respectively as at June 30.

Treasury China (S$1.485) 
Q2 net property income up 18.3%  
Treasury China Trust (TCT) reported an 18.3% year'on'year increase in net property income to $16.97mil for the 2Q12. In terms of renminbi  '  the predominant revenue currency of the owner of commercial real estate in China  '  net property income rose 15.5% year on year to 84.3mil yuan and Gross revenue rose 13.9% year on year to $26.43mil, mainly a''ributable to the unit rental increase throughout the por''olio and the revenue contribution of Huai Hai Mall, acquired in the middle of Q2 2011. Q2 EPU stood at 6.7 cents. No distributions have been declared for the reporting period in light of the ongoing uncertainty with respect to the liquidity environment in China and the development programme currently underway.
Source: The Business Times

Source: AmFraser