Towards Financial Freedom
DBS Equity Research: Wired Daily 20 Oct 2015
Mapletree Logistics Trust's 2Q15 topline rose 7% to S$87.5m, NPI up 13% and S$72.9m
3Q15 revenue and NPI for KREIT fell 11.4% and 13.3% respectively to S$42m and S$33m
Mapletree Logistics Trust's2Q15 topline and net property income rose 7% and 13% to 87.5m and S$72.9m respectively. opline mainly driven by (i) S$295m worth of acquistions completed YTD, (ii) higher translation from HKDSGD exchange rate and (iii) higher rents achieved mainly in SG/HK properties. Distributable income dipped marginally by 0.3%. Gains of S$3.5m from sale of property ( 134 Joo Seng Road, exit cap rate of 3%) is not paid yet and likely to be paid out in phases in the coming quarters. Portfolio occupancy remain steady at 96.9% with substantial portfolio of renewals completed YTD.
3Q15 revenue and NPI for KREIT fell 11.4% and 13.3% respectively to S$42m and S$33m. This was due to a lack of contribution from the divested Prudential Tower, mitigated by better contribution from OFC and Bugis Junction Towers.
Distributable income rose 4.6% y-o-y as cessation of income support at OFC was offset by higher contribution from MBFC Tower 3, payment of 100% of management fees in units, as well as S$6m distribution from proceeds from the divestment of Prudential Tower. However 3Q15 DPU fell 6% y-o-y to 1.70Scts, or -1% q-o-q on the back of an enlarged share base following an EFR exercise to partially fund the acquisition of MBFC Tower 3.
US stocks ended marginally higher as gains in internet stocks offset declines in commodity shares. According to Bloomberg, analysts' consensus project profit for S&P 500 members to drop by 6.7% in 3Q, with energy and materials companies showing the steepest decline. After the bell, IBM reported 3Q revenue that fell short of analysts' estimates as currency fluctuations crimped sales.
Yanlord - Aug/Sep sales came in better than expected at higher ASPs
Source: DBS
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
