Mapletree Log Tr - 4th quarter results is out. I think is not bad! DPU is slightly up 0.9 percent to 1.819 excluding divestment gains. Gross revenue is down 1.7 percent to 176.5m. Borrowing costs is down 3 percent to 37.5m vs 38.7m.

 Mapletree Log Tr  - 4th quarter results is out.  I think is not bad! DPU is slightly up 0.9 percent to 1.819 excluding divestment gains. XD 8th May 2026. Gross revenue is down 1.7 percent to 176.5m. Borrowing costs is down 3 percent to 37.5m vs 38.7m. 

NPI is down 0.9% to 151.4m vs 152.8m.Property Expense is down 6.3% to 25.1m vs 26.8m. 

Occupancy rate improved from 96.4% to 96.9%. Gearing 40.6%. 

On a year-on-year (“y-o-y”) basis, gross revenue and net property income (“NPI”) for 4Q FY25/26 

were 1.7% and 0.9% lower respectively, primarily driven by absence of contributions from divested 

properties and weaker regional currencies. Excluding the impact of divestments and currency 

volatility, MLT would have registered growth in revenue and NPI of S$3.6 million and $4.1 million

respectively, attributable to higher contributions from the existing portfolio and contribution from the

newly completed redevelopment project in Singapore. At the distribution level, the effect of currency 

volatility was largely mitigated through hedging.

Borrowing costs were 3.0% lower y-o-y largely due to proactive refinancing efforts and paying down 

of debt with proceeds from divestments. This helped cushion the absence of divestment gains, which 

was discontinued in FY25/26 but had contributed S$7.7 million in 4Q FY24/25. Accordingly, the

amount distributable to Unitholders fell 6.1% y-o-y and DPU was 7.0% lower on an enlarged unit 

base. Excluding divestment gains, DPU from operations rose 0.9% compared to the prior year.

IN-light of the ongoing Middle East conflict and broader supply chain uncertainties, we remain vigilant 

and focused on execution. Our immediate priorities are to preserve portfolio stability through tenant 

retention, prudent cost management and active lease management, while continuing our portfolio 

rejuvenation strategy to unlock value and position MLT for sustainable long-term growth.

Similarly, for the 12 months to 31 March 2026, the decline in gross revenue and NPI of 2.6% and

2.4% respectively reflects the impact of divestments combined with regional currency weakness.

Excluding these impacts, MLT’s portfolio would have reported higher revenue and NPI by 

S$6.1 million and S$5.4 million respectively, anchored by resilient same-store performance and new 

contribution from the redevelopment project.

Absent the distribution of divestment gains which contributed S$27.0 million in FY24/25, the amount 

distributable to Unitholders fell 8.9% to S$370.1 million, and DPU was 9.8% lower at 7.262 cents.

Excluding divestment gains, DPU from operations was 3.4% lower y-o-y.

ParkwayLife Reit - DPU is up 15.1% to 4.44 cents.Gearing 34.2 percent, ICR 8.4x. Gross revenue is down 2.1 percent to 38.2m

 Gross Revenue for 1Q 2026 decline by 2.1% to 38.2m mainly due to JPY FX depreciation and lower rental income from the Japan portfolio 

due to tenant exit affecting five Japan nursing home properties, partially offset by contributions from 

the Singapore properties.  

 Higher distributable income largely attributed to Singapore hospitals following the cessation of the 

three-year rent rebates and the rent review formula kicked in1. DPU is up 5% to 4.44 cents. 

 As the REIT has hedged the net income from Japan, the drop in revenue will be compensated by the 

FX gains from the settlement of the forward contracts

DPU Growth Y-o-Y

S$38.2 million

Higher distributable income largely attributed to Singapore hospitals following the cessation of the 

three-year rent rebates and the rent review formula kicked in1 

 As the REIT has hedged the net income from Japan, the drop in revenue will be compensated by the 

FX gains from the settlement of the forward contracts.

Project Renaissance – a S$350 million renewal capital expenditure for MEH jointly funded with IHH

Healthcare Singapore was successfully completed in February 2026

➢ Delivered M&E upgrades, space reconfiguration and sustainability enhancements to support

resilience and growth

➢ Awarded provisional Green Mark Platinum certification by the Building and Construction Authority

in recognition of the sustainability enhancements

UIBREIT - She is slowly recovering since IPO. Now trading at 84.5 cents, UOB KH upgrade to Buy with TP 1.16

 UIBREIT  - She is slowly recovering since IPO. Now trading at 84.5 cents, UOB KH upgrade to Buy with TP 1.16.

IPO was 88 cents. Still need a few more cents to breakeven.  Jia You!

Projecting yield is about 8.2%. Likely see some buying interest.  

I think the assets are mostly located in Singapore,  quite resilient plus no currency exchange issue. The other assets are located in Japan, need to monitor. 

Don't know when can payout first dividend.  Yearly dividend is about 6.5-6.8 cents. Pls dyodd. 

CapLand Investment - fee-related revenue rose 10% year over year to SG$310 million during the first quarter of the year. Assets light and earnings mostly base of fee income from managing Reits, Loans and others fees. Seem quite gd

 Phillip Securities has a TP of 3.69.

1Q26 revenue of S$487mn (-2% YoY) was slightly below our estimates, forming 21% of our FY26e forecast. Fee-related revenue was the standout performer, rising 10% YoY, driven by strong growth in listed (+14%) and private funds (+58%) management, while REIB revenue declined 14% following the divestment of the Synergy platform

CapitaLand Investment's (SGX:9CI) fee-related revenue rose 10% year over year to SG$310 million during the first quarter of the year, according to a Wednesday filing with the Singapore Exchange.

The increase in fee-related revenue was driven by strong growth in listed funds, including the company's share of SC Capital Partners' fee revenue.

Meanwhile, the private funds segment surged 58% year over year to SG$41 million.

CapLand Investment  - Final dividend of 12 cents,  XD 4th May. Paydate 14 May, awesome! AGM is on 28 April 10AM. Do take note!

  Nibbled small units at 2.77. Looks like a strong support level!Yield is about 4.3%. Pls dyodd 

CapLand Investment  - I think price is back to interesting price level! At 2.84, yield is about 4.22 percent seem not bad!She may rise up to test 2.96 than 3.p2 and above. XD in May 2026 for 12 cents dividend. Pls dyodd 

 The price being corrected sharply to 2.78, looks like boat is back! Yield is about  4.31%, seem not bad! Pls dyodd. 

CapLand Investment  - A bullish green candlesticks appearing on the chart after the recent profit taking situation. The price may rise upbto test 3.09-3.12!

Beyond 3.12, shw may rise up to retest 3.17 and above. Pls dyodd. 

Is a great relief! Price rebounded from 2.90 to close at 3.09! Hopefully,  it can stay at this level before XD! Is never wrong to lock in some profit! Pls dyodd. 

Today, went for lunch at this place call Embun seafood restaurant! Somewhere near the Seletar Airport.  The food is quite nice! Is a quiet place tugging away surrounded by many trees and greenery! 

Had giant crab, satays, Fish, prawns, sotong,  veggies and dessert. 

(CLI) recorded stronger Operating PATMI of S$539 million for the Financial Year (FY) 2025, 

up 6% year-on-year (YoY) from S$510 million in FY 2024. At the same time, CLI continued to 

scale its platform, with FUM growing 7% to S$125 billion1 as at end-2025, supported by 

positive fundraising momentum as total equity raised almost doubled to S$6.5 billion.

The improved Operating PATMI of S$539 million in FY 2025 was driven by higher contributions

from the listed funds business, lower interest costs and reduced operating expenses. These 

were partially offset by growth-related expenses to scale the private funds and lodging 

management business, as well as lower contributions following asset divestments. 

Total PATMI for FY 2025 was S$145 million compared to S$479 million in FY 2024, mainly 

due to lower portfolio gains and higher revaluation losses on the Group’s China portfolio.

CLI declared a final dividend of 12 cents, unchanged y-o-y, reflecting a payout ratio of more than 100%.

reflecting continued market softness. Meanwhile, total revenue was stable3 at S$2,133 million

for FY 2025, with higher fee-related revenue earnings, offset by lower contributions from the 

real estate investment business (REIB) post-divestments.

Through disciplined and focused execution, CLI grew FUM to S$125 billion1 as at end-2025, 

up from S$117 billion a year earlier. FUM growth was driven by strong capital raising momentum,

supported by larger follow-on funds launched during the year, as well as positive organic and 

inorganic growth, including CLI’s strategic investments in Wingate and SC Capital Partners. 

Miguel Ko, Chairman of CLI, said: “Amid a challenging and uncertain macroeconomic 

backdrop in 2025, we made steady progress, reinforcing and scaling our platform for long-

term growth. Our strategic investments in Wingate and SC Capital Partners have deepened 

capabilities and broadened institutional reach for CLI. We will continue to build on this 

momentum and focus on long-term value creation, anchored by strategic partnerships and 

disciplined capital allocation.”

Mapletree PanAsia Com Tr - 4th quarter results is out! DPU is down 2.8 percent to 1.9 cents versus 1.95 cents last year. If excluding the tax charge of 8.3m , dpu will be higher.

 Mapletree PanAsia Com Tr  - 4th quarter results is out! DPU is down 2.8 percent to 1.9 cents versus 1.95 cents last year.  If excluding the tax charge of 8.3m , dpu will be higher.

A one-off tax charge of S$8.3 million was recognised on completion of the Festival Walk Tower

divestment. Reported DPU for 4Q FY25/26 was 1.90 Singapore cents. Excluding this tax 

charge, 4Q FY25/26 DPU would have been 2.04 Singapore cents, 4.6% higher yoy.

Occupancy 89.4%. Gearing 36.5%.

NAV 1.73.

4Q FY25/26 gross revenue and net property income (“NPI”) were S$210.7 million and 

S$159.6 million, respectively, 5.5% and 5.9% lower year-on-year (“yoy”). This reflects lower 

overseas contributions and the absence of full-period contributions from TS Ikebukuro Building 

(“TSI”), ABAS Shin-Yokohama Building (“ASY”) and Festival Walk Tower, which were divested 

on 22 August 2025, 28 August 2025, and 2 February 2026, respectively.

Singapore’s gross revenue and NPI grew 1.8% and 2.1% yoy, respectively, led by VivoCity

following the completion of its Basement 2 asset enhancement initiative (“AEI”) and robust 

rental growth, as well as higher contribution from Other Singapore Properties. 

Property operating expenses fell 4.1% yoy due to reduced operation and maintenance 

expenses, and utility expenses. Finance expenses improved 17.9% yoy from lower interest 

rates and reduced debt as net divestment proceeds were deployed towards debt repayment.

AEM - The share price has a very impressive running up from 1.80 to 7.15, pump up too fast and the volume is getting lowered. A sign of weakness

 AEM - The share price has a very impressive running up from 1.80 to 7.15, pump up too fast and the volume is getting lowered.  A sign of weakness!

I think this kind of running up is unsustainable! The price gotten so much far away from the fundamentals and the company revenue/net income! 

Not a call to buy or sell!

Pls dyodd.