Genting Sing - I think boat is back!

She has been driven to an super oversold territory!

A nice entry pivot point is around 0.83-0.835.

Let's monitor and wait for the right price yo come !

Please dyodd.

Genting Sing  - After XD, she has corrected to 0.875 looks like good price is back! First Half results improved more than 100% to 276m. 

She is hovering near support turned resistance at 0.88. 

I think Final dividend may be increase from 2 cents to 2.5 cents . Together with interim dividend of 1.5 cents, total 4 cents dividend yield is about 4 6% at current price of 0.875.

Please dyodd.

  Genting Sing  - Results is out, net profit increase more than 100% to 276m vs 84m last year, dividend increase 50% to 1.5 cents.

EPS of 2.29 cents vs 0.7 cents last year. 

Healthy cash flow plus 3.4b cash on hands with net cash position,  solid.

I think good sets of financial numbers. 

Yearly dividend of 3.5 cents,  yield is 3.8%.

Not a call to buy or sell!

Please dyodd. 

GENTING SINGAPORE LIMITED (“GENTING SINGAPORE”) WAS INCORPORATED IN 1984 IN THE ISLE OF MAN. GENTING SINGAPORE WAS CONVERTED INTO A PUBLIC LIMITED COMPANY ON 20 MARCH 1987 AND LISTED ON THE MAIN BOARD OF THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ON 12 DECEMBER 2005. ON 1 JUNE 2018, GENTING SINGAPORE TRANSFERRED ITS DOMICILE FROM ISLE OF MAN TO SINGAPORE.

For over 30 years, Genting Singapore and its subsidiaries (the “Group”) have been at the forefront of gaming and integrated resort development in Australia, the Bahamas, Malaysia, the Philippines, Singapore and the United Kingdom. Today, we are best known for our award-winning flagship project, Resorts World™ Sentosa in Singapore, which is one of the largest fully integrated destination resorts in South East Asia. 

Genting Singapore is ranked among Singapore’s largest public-listed companies. Genting Singapore is a constituent stock of the FTSE Straits Times Index.

Today, more than 70% of Genting Singapore and its subsidiaries' team members are Singaporeans and Permanent Residents. There is great diversity in the company too, with more than 40 nationalities represented.

Our management team is very experienced and boasts a wide variety of skill sets.

Diverse skills set:

• Large-scale Project Development
• Casino Management and Marketing
• Theme Park Operations
• Marine Life Park Operations
• Animal Health and Research
• Marine Life Conservation and Education
• Hotel Management and Operations
• Spa Management and Operations
• Food and Beverage
• MICE and Events Management
• Marketing and Sales Excellence
• 
  
  
  
  

Chart wise,  bearish mode!

It is hovering near the support at 0.93.

Breaking down of 0.93 plus high volume that may likely drive the price lower towards 0.90.Next 0.88 then 0.85 with extension to 0.80.

NAV is 0.663.

Yearly dividend of 3 cents. 

Yield is about 3.1%.

PE 33x.

Please dyodd. 

dwide

SIA Engineering - Chart wise, it has manged to bounce off from 2.20 and closed well at 2.37 looks rather encouraging/positive!

 

Chart wise,  bullish mode!

I think short term wise,  she may likely rise up to retest 2.42. 

A nice breakout smoothly accompanied with good volume we may likely see her rising up to revisit 2.52 again!

NAV 1.483. 

Final dividend of 5.5 cents. 

Not a call to buy or sell!

Please dyodd  

SIA Engineering Company is engaged in providing aviation engineering services of the highest quality, at competitive prices for customers and a profit to the Company.

SIA Engineering Company (SIAEC) provides maintenance, repair and overhaul (MRO) of aircraft, engines and related components and offers the complete MRO suite of services.

Under the leadership of an experienced management with strong MRO and airline operations backgrounds, the Company constantly develops new capabilities to service our valued customers. Our highly skilled engineers and technicians undergo continuous training to deliver quality service to ensure customer satisfaction.

Over the past years, we have continually proven ourselves to be at the forefront of aviation technology with accomplishments in the following areas:

• First MRO provider in the world to maintain the super-jumbo A380
• One of the first in the world to convert Boeing 747-400 passenger aircraft to freighters
• One of the first in the region to provide initial cabin conceptual design and certification, right through to installation, through our joint venture with JAMCO America and JAMCO Corporation. The joint venture, JADE (JAMCO Aero Design & Engineering Pte Ltd) has allowed us to tap on the growing aircraft cabin retrofit and reconfiguration market.

With a complete suite of global service offerings, SIA Engineering Company has become a truly one-stop MRO solutions provider to our airline and lessor customers delivering quality, safety and fast turn-around-times.

Customers expect competitive turn-around time for component maintenance and overhaul. At SIAEC, we have 19 in-house workshops which test, repair and overhaul components. These in-house workshops are a vital link in our total support service offering as they ensure downtime is minimised with repairs routed to our workshops that are in close proximity to the aircraft.

As a leading repair centre, SIAEC workshop covers a wide range of component overhaul and repair capabilities for the latest Airbus and Boeing aircraft fleet including composite repair support for the latest generation aircraft types such as Airbus A350 and Boeing 787.

ParkwayLife Reit - Chart wise, bearish mode! I think likely to go down to test 3.70 again!

 This Wednesday US will be releasing the cpi data. This may set pace for the price to go higher or lower.

Chart wise,  bearish mode!

I think likely to go down to test 3.70 than 3.67 with extension to 3.5

Please dyodd.

 Yearly dividend is about 14.4 cents.

Yield is about 3.8% at 3.75. Tbills is also giving about the same interest rate and much lower risk. SSB 3.06% also provide another alternative option.  

I think she has to go lower in order to attract some bargains hunter. It has to be more than 4% yield in order to see some buying activities..

I think 3.50 might be  good pivot point!

Not a call to buy or sell!

Please dyodd.

 Gross Revenue increase 23.6% to 74.4m, swee!

Net Property Income increased 25% to 70m.

Dpu increase 3.3% to 7.29 cents.

Gearing 35.5%.

I think is a gd sets of financial results! 

XD 2nd August.  Pay date 30th August.

 Yesterday it looks like some buying activities is back to support this beaten down healthcare reit judging from the high volume reflected on the chart. It has manged to bounce off from 3.66 to close well at 3.75 looks rather interesting!

I think is good to wait for market confirmation to see if it can reclaim 3.82 in order to find out if this was a throw-back reaction!

Please dyodd.

She has been sold down 13 cents to close at 3.67, doesn't look good!

The selling down volume is huge! I think is good to let it settle down before making any action!

At 3.67, yield is about 3.95% which is not bad for this healthcare reit counter!

results will be out on 26th July cum dividend. 

Please dyodd.

Parkway Life REIT ("PLife REIT") is one of Asia's largest listed healthcare REITs. It invests in income-producing real estate and real estate-related assets used primarily for healthcare and healthcare-related purposes. As at 31 March 2023, PLife REIT's total portfolio size stands at 61 properties totalling approximately S$2.20 billion.

Mission

To deliver regular and stable distributions and achieve long-term growth for our Unitholders.

Our Growth Strategy

PLife REIT is firmly guided by its principle of staying prudent and focused in its growth strategy, focusing on:

• Targeted Investment
• Proactive Asset Management
• Prudent Capital and Financial Management

As at 31 March 2023, PLife REIT has successfully expanded its total portfolio to 61 properties, including hospitals and medical centres in Singapore, Malaysia and 57 healthcare-related assets in Japan, worth approximately S$2.20 billion¹.

Targeted Investment

As PLife REIT continues to be on the lookout for high-quality, yield-accretive acquisition opportunities in the region, it remains discerning and prudent in its approach of acquiring assets that are not only value -generating, but also preserve the long-term defensiveness of the overall portfolio.

Proactive Asset Management

Through proactive asset management, PLife REIT constantly strives to maximise portfolio performance in order to enhance the revenue-generating ability of its properties and ensure sustainable earnings for its Unitholders.

As part of PLife REIT’s initiative to drive organic growth and foster good Landlord-Lessee relationships, it seeks to work closely with its Lessees to understand their operational requirements and embark on Asset Enhancement Initiatives (“AEIs”) which are tailored to suit the needs of its healthcare operators and end users of the properties. Such strategic collaborative arrangements serve to benefit all parties and promote greater revenue sustainability for PLife REIT.

PLife REIT has, leveraging on its clustering/ partnering approach and good landlord-lessee relationships, successfully expanded its nursing home portfolio and completed 14 AEIs in Japan since its maiden entry in 2008 and one at its Malaysia property (Gleneagles Intan Medical Centre Kuala Lumpur).

Moving forward, PLife REIT remains committed to exploring and rolling out more of such AEIs across its entire portfolio to extract the greatest value from its properties. To further strengthen PLife REIT's earnings resiliency, it is also focused on consolidation efforts for its Japan portfolio to optimise operating synergies and achieve greater cost savings.

Capital and Financial Management

PLife REIT aims to maintain a strong financial position through prudent and dynamic capital and financial management, to ensure continuous access to funding at optimal cost, maintain stable distributions to Unitholders and achieve a steady net asset value.

As at 31 March 2023, PLife REIT's gearing was 37.5% which complied with the stipulated Aggregate Leverage limit¹. The interest coverage ratio stood at 15.6 times².

Dynamic liability and liquidity risk management

PLife REIT adopts a dynamic and pro-active approach for its liability and liquidity risk management. Our key liability and funding management strategies in support of our regional growth aspirations are:

1) To achieve diversified funding sources at an optimal cost
Diversify our funding sources from a panel of high quality banks, establishing and maintaining our Debt Issuance Programme and other financing sources to attain varied liability tenure, with the end objective of maintaining the most optimal financing cost mix.

2) To enhance the defensiveness of PLife REIT's Balance Sheet strength
Dynamically manage our debt maturity profile to ensure well-spread debt maturities and at the same time, to maintain an optimal capital structure.

Tactical approaches adopted in view of the above strategies are:

a) Conscientious effort in lengthening and spreading out the debt maturity period;
b) Cultivating and maintaining a panel of key banks to support our long term growth;
c) Establishing alternative source of fund. In this respect, PLife REIT, through its wholly-owned subsidiary, Parkway Life MTN Pte Ltd (the “MTN Issuer”), put in place a S$500 million Multicurrency Debt Issuance Programme to provide PLife REIT with the flexibility to tap various types of capital market products including issuance of perpetual securities when needed. On 6 December 2022, the Group issued a 6-year JPY5.0 billion and a maiden 7-year JPY6.04 billion fixed rate notes to pre-emptively refinance existing fixed rate notes due in 2023 and term out the JPY short-term loans drawn down for acquisition financing. As at 31 March 2023, there were five series of outstanding unsecured fixed rate

notes amounted to JPY19.84 billion³ (approximately S$202.6 million) issued under the Debt Issuance Programme, which diversified PLife REIT’s funding sources.
d) Minimising near-term refinancing risk through pre-emptive terming out current debts. With the new notes issuance, PLife REIT has effectively managed its debt maturity profile with no immediate long-term debt refinancing needs until February 2024.

Financial risk management

PLife REIT adopts prudent financial risk management to manage the exposure to interest rate risk and foreign currency risk. Our policy is to hedge at least 50% (up to 100%) of all financial risks.

Interest rate risk is managed on an ongoing basis with the primary objective of limiting the extent to which net interest expenses could be affected by adverse movements in interest rates, by hedging the long term committed borrowings through the use of interest rate hedging financial instruments. For the foreign exchange ("Forex") risk management, we strive to hedge Forex risk on principal which will allow PLife REIT to maintain a stable net asset value, as the Forex fluctuation on foreign asset will offset the Forex fluctuation of the hedging instrument. We also aim to hedge the Forex risk on net overseas income which will provide PLife REIT with stability in distributable income, as PLife REIT will be shielded from exchange rate fluctuation on foreign income.

As at 31 March 2023, the Group has put in place Japanese Yen forward exchange contracts till 1Q 2027 and about 78% of interest rate exposure is hedged.

Chart wise,  bullish 

 

Parkway Life REIT ("PLife REIT") is one of Asia's largest listed healthcare REITs. It invests in income-producing real estate and real estate-related assets used primarily for healthcare and healthcare-related purposes. As at 31 March 2023, PLife REIT's total portfolio size stands at 61 properties totalling approximately S$2.20 billion.

Mission

To deliver regular and stable distributions and achieve long-term growth for our Unitholders.

Our Growth Strategy

PLife REIT is firmly guided by its principle of staying prudent and focused in its growth strategy, focusing on:

• Targeted Investment
• Proactive Asset Management
• Prudent Capital and Financial Management

As at 31 March 2023, PLife REIT has successfully expanded its total portfolio to 61 properties, including hospitals and medical centres in Singapore, Malaysia and 57 healthcare-related assets in Japan, worth approximately S$2.20 billion¹.

Targeted Investment

As PLife REIT continues to be on the lookout for high-quality, yield-accretive acquisition opportunities in the region, it remains discerning and prudent in its approach of acquiring assets that are not only value -generating, but also preserve the long-term defensiveness of the overall portfolio.

Proactive Asset Management

Through proactive asset management, PLife REIT constantly strives to maximise portfolio performance in order to enhance the revenue-generating ability of its properties and ensure sustainable earnings for its Unitholders.

As part of PLife REIT’s initiative to drive organic growth and foster good Landlord-Lessee relationships, it seeks to work closely with its Lessees to understand their operational requirements and embark on Asset Enhancement Initiatives (“AEIs”) which are tailored to suit the needs of its healthcare operators and end users of the properties. Such strategic collaborative arrangements serve to benefit all parties and promote greater revenue sustainability for PLife REIT.

PLife REIT has, leveraging on its clustering/ partnering approach and good landlord-lessee relationships, successfully expanded its nursing home portfolio and completed 14 AEIs in Japan since its maiden entry in 2008 and one at its Malaysia property (Gleneagles Intan Medical Centre Kuala Lumpur).

Moving forward, PLife REIT remains committed to exploring and rolling out more of such AEIs across its entire portfolio to extract the greatest value from its properties. To further strengthen PLife REIT's earnings resiliency, it is also focused on consolidation efforts for its Japan portfolio to optimise operating synergies and achieve greater cost savings.

Capital and Financial Management

PLife REIT aims to maintain a strong financial position through prudent and dynamic capital and financial management, to ensure continuous access to funding at optimal cost, maintain stable distributions to Unitholders and achieve a steady net asset value.

As at 31 March 2023, PLife REIT's gearing was 37.5% which complied with the stipulated Aggregate Leverage limit¹. The interest coverage ratio stood at 15.6 times².

Dynamic liability and liquidity risk management

PLife REIT adopts a dynamic and pro-active approach for its liability and liquidity risk management. Our key liability and funding management strategies in support of our regional growth aspirations are:

1) To achieve diversified funding sources at an optimal cost
Diversify our funding sources from a panel of high quality banks, establishing and maintaining our Debt Issuance Programme and other financing sources to attain varied liability tenure, with the end objective of maintaining the most optimal financing cost mix.

2) To enhance the defensiveness of PLife REIT's Balance Sheet strength
Dynamically manage our debt maturity profile to ensure well-spread debt maturities and at the same time, to maintain an optimal capital structure.

Tactical approaches adopted in view of the above strategies are:

a) Conscientious effort in lengthening and spreading out the debt maturity period;
b) Cultivating and maintaining a panel of key banks to support our long term growth;
c) Establishing alternative source of fund. In this respect, PLife REIT, through its wholly-owned subsidiary, Parkway Life MTN Pte Ltd (the “MTN Issuer”), put in place a S$500 million Multicurrency Debt Issuance Programme to provide PLife REIT with the flexibility to tap various types of capital market products including issuance of perpetual securities when needed. On 6 December 2022, the Group issued a 6-year JPY5.0 billion and a maiden 7-year JPY6.04 billion fixed rate notes to pre-emptively refinance existing fixed rate notes due in 2023 and term out the JPY short-term loans drawn down for acquisition financing. As at 31 March 2023, there were five series of outstanding unsecured fixed rate

notes amounted to JPY19.84 billion³ (approximately S$202.6 million) issued under the Debt Issuance Programme, which diversified PLife REIT’s funding sources.
d) Minimising near-term refinancing risk through pre-emptive terming out current debts. With the new notes issuance, PLife REIT has effectively managed its debt maturity profile with no immediate long-term debt refinancing needs until February 2024.

Financial risk management

PLife REIT adopts prudent financial risk management to manage the exposure to interest rate risk and foreign currency risk. Our policy is to hedge at least 50% (up to 100%) of all financial risks.

Interest rate risk is managed on an ongoing basis with the primary objective of limiting the extent to which net interest expenses could be affected by adverse movements in interest rates, by hedging the long term committed borrowings through the use of interest rate hedging financial instruments. For the foreign exchange ("Forex") risk management, we strive to hedge Forex risk on principal which will allow PLife REIT to maintain a stable net asset value, as the Forex fluctuation on foreign asset will offset the Forex fluctuation of the hedging instrument. We also aim to hedge the Forex risk on net overseas income which will provide PLife REIT with stability in distributable income, as PLife REIT will be shielded from exchange rate fluctuation on foreign income.

As at 31 March 2023, the Group has put in place Japanese Yen forward exchange contracts till 1Q 2027 and about 78% of interest rate exposure is hedged.

Chart wise,  bearish mode!

Looks like gd price is back!

With bullish pin bar appearing on the chart we may see a throw-back reaction from the current price level of 3.74.

NAV is about 2.33.

Yearly dividend is about 14.5cents.

Yield is about 3.87 % based on current price of 3.74

Not a call to buy or sell!

Please dyodd. 

CapLand IntCom T(C38U.SI) - I have nibbled a bit at 1.87, Nav is 2.121, yield is about 5.6%

 This is one of the Biggest reit assets listed ( both office and retail mall) on Singapore Exchange.  

I have nibbled a bit at 1.87, yield is about 5.6%. 

Not a call to buy or sell!

Pls dyodd.

 I think high probability it may go down to retest 1.86 again!

At 1.86, yield is about 5.7% for this giant retail cum office reit.  

Please dyodd.

Indeed, she has broken the support at 1.90 likely to go down to test the recent low of 1.86.

At 1.86, yield is about 5.7% of which I think is quite a good yield level for this blue chips index reit counter. 

Please dyodd.

 

Chart wise,  bearish mode! 

She is hovering at the support level of 1.90, looks rather interesting!

Next support is at 1.86.

Please dyodd.

 Hosey! Results is out! NPI is up 10.1% to 552m.

Distribution income increase 1.7% to 353.2m.

Dpu increase 1.5% YOY to 5.3 cents.

Occupancy rate 96.7%.

Gearing 40.4%.

WALE of 3.6 years.

I think the results is OK!

XD 8th of August.  Pay date 15 September.

Today closed well at 2.00 high probability she will rise up to reclaim 2.03 then 2.08 with extension to 2.18.

Not a call to buy or sell!

Please dyodd.

Yesterday closed well at 1.92, let's see will she continue to rise up to reclaim 1.95 then 2.00-2.03.

Results will be out on 1st Aug 2023! 

Dividend is coming!

  Chart wise,  bearish mode!

Likely to see further weakness!

She has further weaken and closed lower at 1.86 looks like she may go further down to test the recent support at 1.82 then 1.80 with extension to 1.74.

Yield is about 5.7%  at 1.86.

NAV 2.116.

Pls dyodd.

I have added a bit at 1.91 as it has managed to bounced off from 1.89.

At 1.91, yield is about 5.55% of which I think is quite a gd yield for this giant retail cum grade A office reit.

Not a call to buy or sell!

Pls dyodd. 

CapitaLand Integrated Commercial Trust (CICT or the Trust) is the first and largest real estate investment trust (REIT) listed on Singapore Exchange Securities Trading Limited (SGX-ST) with a market capitalisation of S$13.5 billion as at 31 December 2022. It debuted on SGX-ST as CapitaLand Mall Trust in July 2002 and was renamed CICT in November 2020 following the merger with CapitaLand Commercial Trust (CCT).

 Looking at the FY 2022 results the NPI is up 9.7% and achieved an increased of DPU from 10.40 to 10.58 cents. It looks like the rental income is improving!

The First Quarter 2023 update is as follow:

The NPI is up 11.3% to 276.3m and occupancy rate % has improved from 95.8 to 96.2.

The gearing is slightly from 40.90 to 40.40%.

The Average WALE is 3.7 years.

The Top 10 tenants are RC Hotels (Pte) Ltd, WeWork Singapore, GIC Private Limited, NTUC Enterprise Co-Operative Ltd & Temasek Holdings etc.

Total Property value is about 24.2 billion of which is the Biggest reit counter listed on the Local Singapore Exchange.

NAV is about 2.116.

Yearly dividend of about 10.58, Yield is about 5.6%(based on current price of 1.89).

I think gd pivot entry point is back!

Please dyodd.

Frasers L&C Tr - Gearing is of 28.6%, I think She will be able to weather throughout this higher interest rate saga. ONCE RATE HIKE PAUSE and eventually rate cut then we may see sunny days ahead!

 Chart wise, bearish mode!

She is trading at the price range of 1.17 to 1.21. 

Pls dyodd. 

  

She is rising up slowly,  good sign! Likely to cross over 1.20 and rises further towards 1.24-1.28. 

Pls dyodd.

 Frasers L&C Tr  - I think good price is back! Yield of 6.2%, gearing 28.6%. 

She is being pushed down to an oversold territory! At 1.18, yearly dividend is about 7.29 cents,  yield is about 6.2% .

I think current weakness in price could be due to AUD ex.rate is weakening against SGD.

Plus higher Operations costs that is eating into the distribution income.  But with higher rental reversion hope can cover some of these operations costs.

NAV 1.276.

She is hovering at the support level of 1.17.

Next support is at 1.13.

Not a call to buy or sell!

Please dyodd.

Mapletree PanAsia Com Tr - she has gone down to test 1.47, looks rather interesting! Yield is about 6% at 1.47.

   She has drifted lower , looks like good price is back! 

At 1.47, yield is about 6% estimating yearly dividend of 8.86 cents.  

Please dyodd. 

At 1.52, yearly dividend is about 8.86 cents,  yield is about 5.82% for this index reit looks rather interesting!

NAV 1.749. Gearing is high at 40.7%. Please take note and do your own due diligence!

 Indeed,  it has broken down 1.57 and went down to touch 1.50. Looks rather weak!

Yesterday a nice greenish candlestick appeared looks like some buying activities is happening. 

Let's monitor and see if it can rise up to reclaim 1.60 !

Please dyodd.

 I think she has been driven into an oversold territory looks like a gd pivot point!

NAV is 1.749.

Yearly dpu is about 8.86 cents. Yield is about 5.5%.

In Singapore they own the core assets like VivoCity and Mapletree Business City (MBC). In Hong Kong they own the Famous Festival Walk shopping mall cum commercial office etc. 

Chart wise,  bearish mode!

It 1.60 cannot hold up well then next support is at 1.57.

Please dyodd.

 The results is so so!

NPI is up 1% to 179.2m.

Finance costs increase 6.1% to 54m.

Distribution income is down 2.4% to 114.7m.

Dpu of 2.18 cents versus 2.25 cents last quarter. 

Occupancy rate is 95.7%.

Gearing 40.7%.

 Results is due on 31st July!

Is it a tell tale sign results might not be good! 

Pls dyodd.

 

Chart wise,  she is gaining strength and likely rise up to test 1.70-1.72!

A nice breakout at 1.72 plus good volume we may likely see her rising up further towards 1.80 than 1.85.

Please dyodd.

 I nibbled a bit at 1.61 as it is hovering at the major support level! 

Not a call to buy or sell!

Pls dyodd. 

Mapletree Pan Asia Commercial Trust (“MPACT”) is a real estate investment trust (“REIT”) positioned to be the proxy to key gateway markets of Asia. Listed on the Singapore Exchange Securities Limited (“SGX-ST”), it made its public market debut as Mapletree Commercial Trust on 27 April 2011 and was renamed MPACT on 3 August 2022 following the merger with Mapletree North Asia Commercial Trust.

Its principal investment objective is to invest on a long-term basis, directly or indirectly, in a diversified portfolio of income-producing real estate used primarily for office and/or retail purposes, as well as real estate-related assets, in the key gateway markets of Asia (including but not limited to Singapore, China, Hong Kong¹, Japan and South Korea).

MPACT’s portfolio comprises 18 commercial properties across five key gateway markets of Asia – five in Singapore, one in Hong Kong, two in China, nine in Japan and one in South Korea. They have a total NLA of 11.0 million square feet and valued at S$17.1 billion. 

Within Singapore, they are:

• VivoCity – Singapore’s largest mall located in the HarbourFront Precinct;
• Mapletree Business City (“MBC”) – a large-scale integrated office, business park and retail complex with Grade A building specifications, supported by ancillary retail space, located in the Alexandra Precinct;
• mTower – an established integrated development with a 40-storey office block and a three-storey retail centre, Alexandra Retail Centre (“ARC”), located in the Alexandra Precinct;
• Mapletree Anson – a 19-storey premium office building located in the Central Business District (“CBD”); and
• Bank of America HarbourFront (“BOAHF”) – A premium six-storey office building located in the HarbourFront Precinct.

Outside Singapore, they are:

• Festival Walk, Hong Kong – a landmark territorial retail mall with an office component;
• Gateway Plaza, China – a Grade A office building with a podium area in Lufthansa sub-market within Beijing;
• Sandhill Plaza, China – a Grade A business park development in Zhangjiang Science City, a key business and innovation hub in Pudong, Shanghai;
• Japan Properties – nine freehold properties comprising five office buildings in Tokyo (IXINAL Monzen-nakacho Building, Higashi-nihonbashi 1-chome Building, TS Ikebukuro Building, Omori Prime Building and Hewlett-Packard Japan Headquarters Building); an office building in Yokohama (ABAS Shin-Yokohama Building) and three office buildings in Chiba (SII Makuhari Building, Fujitsu Makuhari Building and mBAY POINT Makuhari); and
• The Pinnacle Gangnam, South Korea – a freehold Grade A office building with retail amenities located in Gangnam Business District, Seoul.

MPACT is one of the three REITs sponsored by Mapletree Investments Pte Ltd (“MIPL” or the “Sponsor”), a leading real estate development, investment, capital and property management company headquartered in Singapore.

MPACT is managed by MPACT Management Ltd. (“MPACTM” or the “Manager”), a wholly-owned subsidiary of MIPL. The Manager aims to provide unitholders of MPACT (“Unitholders”) with a relatively attractive rate of return on their investment through regular and steady distributions, and to achieve long-term stability in Distribution per Unit (“DPU”) and Net Asset Value (“NAV”) per Unit, while maintaining an appropriate capital structure for MPACT.

2022 FY Financial results:

MPACT Achieves 65.4% and 62.6% Growth in FY22/23 Gross Revenue and Net Property Income

Full-year distribution per unit (“DPU”) totalled 9.61 Singapore cents.

Boosted by contribution from properties acquired through the merger1.

Better performance of core assets, VivoCity and Mapletree Business City (“MBC”), cushioned higher utility and finance costs in FY22/23. 

Positive rental reversion recorded by all markets except Greater China.

VivoCity’s full-year tenant sales set new record at over S$1 billion, and asset enhancement initiative (“AEI”) on Level 1 on track for opening from end-May 2023.

Improvement in shopper traffic and tenant sales at Festival Walk with the lifting of COVID measures and reopening of border with Mainland China.

Successfully renewed major leases at Bank of America HarbourFront, Festival Walk, Gateway Plaza and MBC during the year, adding to portfolio resilience.

Chart wise, bearish mode!

It is now hovering at the support level of 1.60-1.61.

Yearly dividend is about 9 cents ( base on 4th quarter dpu of 2.25 cents).

Yield is about 5.6% based on current price of 1.61.

NAV is 1.759.

As at 31 March 2023, the aggregate leverage ratio was 40.9% and the average term to maturity was 3.0 years. For FY22/23, the weighted average all-in cost of debt was 2.68% per annum and the adjusted interest coverage ratio was approximately 3.5 times on a 12-month trailing basis. 

Not a call to buy or sell!

Please dyodd.