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Thursday, February 5, 2026

CapLand IntCom Tr -Gross revenue rose by 4.7% YoY to S$831.5 million in 2H 2025. Correspondingly, the net property income grew 6.8% YoY to S$609.9 million. DPU increased 9.4 percent to 5.96 cents. I think good sets of financial numbers

 CICT’s 2H 2025 distribution per unit (DPU) expanded 9.4% to 5.96 cents despite an enlarged 

unit base due to the private placement in August 2025. XD 13 February for the balance dividend of 4.61 cents.This DPU includes the advanced 

distribution of 1.35 cents for the period from 1 July to 13 August 2025, which was paid on 18 

September 2025 with the 1H 2025 distribution. With the record date on 16 February 2026, 

CICT unitholders can expect to receive the remaining 2H 2025 DPU of 4.61 cents on 24 March 

2026. For FY 2025, CICT achieved a DPU of 11.58 cents, 6.4% higher YoY. Based on the 

closing price of S$2.39 per unit on 31 December 2025, CICT’s distribution yield for FY 2025 

is 4.8%.

Gross revenue rose by 4.7% YoY to S$831.5 million in 2H 2025. Correspondingly, the net 

property income grew 6.8% YoY to S$609.9 million. This increase was primarily driven by 

contributions from CapitaSpring and stronger performance from existing properties, partially 

offset by the divestment of 21 Collyer Quay.

CICT’s portfolio property value rose by 5.2% YoY to S$27.4 billion4 based on independent 

valuations as at 31 December 2025. The uplift was largely due to the better performance of 

the Singapore portfolio and the step-up acquisition of CapitaSpring’s commercial componen.





CapLand Ascendas REIT - Gross revenue and net property income (NPI) for FY 2025 rose by 1.0% and 1.7% YoY to S$1,538.6 million and S$1,067.6 million, respectively. The NPI growth was partly supported by lower property operating expenses of S$471.0 million. DPU of 15 cents was slightly lowered than last year 15.2 cents.Results seem not bad

 Operating and interest expenses, partly offset by divestments completed in 2024 and 2025. 

CLAR’s distribution per unit (DPU) for FY 2025 was 15.005 Singapore cents compared to 

15.205 Singapore cents in FY 2024, due to an enlarged unit base arising from the equity 

fundraising in June 2025. With the record date on Friday, 13 February 2026, unitholders of 

CLAR can expect to receive the 2H 2025 DPU of 7.528 Singapore cents on Friday, 13 March 

2026. Based on the closing price of S$2.83 per unit on 31 December 2025, CLAR’s distribution 

yield for FY 2025 will be 5.3%. 

Gross revenue and net property income (NPI) for FY 2025 rose by 1.0% and 1.7% YoY to 

S$1,538.6 million and S$1,067.6 million, respectively. The NPI growth was partly supported 

by lower property operating expenses of S$471.0 million, a decrease of 0.4% YoY.



Wednesday, February 4, 2026

Keppel Ltd - FY results is out. earnings soar 39% year on year to $1.1 billion in FY 2025. Declared Final dividend of 19 cents plus special dividend of 2 cents and share species in Keppel reit

 The New Keppel’s1 earnings soar 39% year on year to $1.1 billion in FY 2025: 

o All three business segments improved on performance, with Infrastructure

contributing the largest share of profits.

o Recurring income grew 21% yoy to $941 million in FY 2025.

o Return on Equity2 increased to 18.7% in FY 2025, up from 14.9% in FY 2024.

• Growing as a global asset manager:

o Funds under Management3 grew 8% yoy to $95 billion as at end-2025.

o Asset Management net profit rose 15% yoy to $189 million in FY 2025. 

• Strong progress in asset monetisation:

o Announced $2.9 billion of asset monetisation4 deals in 2025; total asset 

monetisation announced since October 2020 reached $14.5 billion5 at end-2025.

• Rewarding shareholders: 

o Ordinary dividends based on the New Keppel’s performance.

o Special dividends based on 10-15% of gross value of asset monetisation 

completed in the financial year6.

• Proposed total FY 2025 distribution of approx. 47 cents per Keppel share, up 

38% from FY 2024, comprising:

o Ordinary cash dividends of 34 cts/share: Proposed final cash dividend of 

19 cts/share, on top of interim cash dividend of 15 cts/share paid in August 2025.

o Special dividend of approx. 13 cts/share: Comprises cash of 2 cts/share, and 

dividend in-specie of 1 Keppel REIT unit for every 9 Keppel shares held, which is 

equivalent to approx. 11 cts/share7 based on Keppel REIT’s closing market price of 

$0.98 on 3 February 2026.

To appoint Gupta Piyush as Chairman wef 17 April 2026. Seem a great move! Pls dyodd. 




Tuesday, February 3, 2026

Frasers L&C Tr - 1st quarter results update is out! The metrics seem improved quite a bit as compared to FY financial numbers. Average rental reversion is up 36.4 or 13.6 percent for the total L&I. Total occupancy rate improved from 95.1 to 96.2 percent.

 Frasers L&C Tr  - 1st quarter results update is out! The metrics seem improved quite a fair bit as compared to FY financial numbers.  Average rental reversion is up 36.4 anf Total rental reversion of 13.6 percent for the total L&I. Total occupancy rate improved from 95.1 to 96.2 percent. 



Overall the average rental reversion increased 29.8% and Total positive rental reversion of 10.7% is quite a vast improvement! The numbers looks good! 



The cost of borrowings is 3.1% seem not too bad. 

Gearing decreased from 35.6 % to 34.8%.

ATP: Secured leases for ~83% (▲from 

58% as at 30 Sep 25) of ex-Google space. 

Occupancy at 74.5%, if excluding 

committed leases yet to commence. All 

committed leases will commence no later than 3rd quarter of 2026.



WALE 4.9 years.

S$251 million of undrawn committed facilities are currently available to meet 

upcoming debt obligations of S$60 million due in 2QFY2026.

ICR 4.1x. Seem good!


Monday, February 2, 2026

Sembcorp Ind - She may rise up to retest 6.18 again

 Sembcorp Ind  - She may rise up to retest 6.18 again ! Beyond that, she may rise further higher towards 6.40 and above. 



Good news:

This morning price Gapped up and is now trading at 6.06 this is rather positive, likely to see further upwards movement towards 6.20 thab 6.30 and above. 



 Under the PPA, Sembcorp has been supplying up to 450MW of power to Micron’s 

Singapore production facilities. The latest agreement will include an additional 150MW 

of power to support Micron’s growing operations. The added capacity does not change 

the PPA’s original 18-year term, which continues through 2041.

16th Jan 2026:

Sembcorp Ind  - She is slowing rising up after touching the low of 5.80. Now trading at 6.04 looks rather interesting !

she may rise up to test 6.13 than 6.20 - 6.29. Pls dyodd. 


Sembcorp Ind  - She is slowing rising up after touching the low of 5.80. Now trading at 6.04 looks rather interesting!

Sembcorp Ind  - nibbled small units at 5.86 after seeing her being sold down after the acquisition of Alinta Energy in Australia for A6.5b, funded by internal fund plus borrowing! Looks like a great deal! It helps to boost earnings accretive and lifted the ROE to 22.5%, awesome!

Went to Nex for dinner plus bought nice and juicy Japanese strawberries! Nom Nom.

Pls dyodd.






  Sembcorp Ind  - It looks like the price has driven to oversold territory!

At 5.99, yield is quite decent at about 4.34%. Annual dividend is 26 cents.

Last Friday,  she had managed to bounce-off from the low of 5.95 and closed slightly higher at 5.99 looks rather interesting!

She may rise up to test 6.17 and above. 

Not a call to buy or sell!

Pls dyodd. 



ParkwayLife Reit - FY results is out! 2nd Half Dpu is up 3.5 percent to 7.64 cents. Distribution income is up 8.8 percent to 49.8m, results seem gd

 PLIFE REIT DELIVERS RESILIENT FY 2025 

RESULTS WITH SUSTAINED DPU GROWTH 

 Full Year Distribution Per Unit (DPU) grew 2.5% YoY to 15.29 Singapore cents, 

extending PLife REIT’s track record of recurring DPU growth 

 FY 2025 Gross Revenue and Net Property Income increased 7.6% and 8.0% YoY 

respectively, supported by portfolio expansion and organic rental growth

 Strong balance sheet and disciplined capital management with a healthy gearing 

ratio of 33.4% and no long-term debt refinancing requirements until October 2026.


Asia’s largest listed healthcare REITs with an asset portfolio of S$2.57 billion2
, is pleased to 
announce resilient financial results for the full year ended 31 December 2025 (“FY 2025”). 
Despite ongoing market uncertainties and currency volatility, PLife REIT delivered another 
year of stable and recurring DPU growth, underpinned by its diversified healthcare portfolio, 
disciplined capital management and long-term lease structures.
Resilient Financial Performance Reflecting Stable DPU Growth and Cash Flow Strength 
For FY 2025, while distributable income to Unitholders rose 9.1% year-on-year (“YoY”), PLife 
REIT achieved a DPU of 15.29 cents, representing a 2.5% increase due to enlarged unit base3
Operating performance strengthened over the year. Gross Revenue for FY 2025 increased 
7.6% YoY to S$156.3 million while Net Property Income rose 8.0% YoY to S$147.5 million. 
The improvement largely reflects higher contributions from assets acquired in 2024 as well 
as organic rental growth from the Singapore hospital portfolio with step-up lease 
agreements, partially oƯset by foreign currency movements, which remain well managed 
through the Group’s established hedging strategies. 
Maintaining Financial Stability Through Disciplined Risk Management 
PLife REIT maintained a strong and resilient balance sheet in FY 2025 through disciplined 
capital management and a proactive approach to managing interest rate and foreign 
exchange risks. 
As at 31 December 2025, PLife REIT’s gearing ratio stood at a healthy 33.4%, with an all-in 
cost of debt of approximately 1.59% and an interest coverage ratio of 8.6 times.