S-REITs - Week 42 - 2024

( YTD: -7.26% | 5D: +0.72%)

11 Oct - CapitaLand Ascendas REIT to divest 21 Jalan Buroh in Singapore at a premium to valuation

The sale consideration of S$112.8 million is to GDS IDC Services Pte. Ltd.

The Sale Consideration represents a premium to the original purchase price of S$58.4 million at which CLAR acquired the Property for in June 2006, and a premium to the average of two independent market valuations of the Property which is S$67.5 million1 as at 1 July 2024. 

For more information, please click here

( YTD: +4.38% | 5D: +1.42%)

14 Oct - Sasseur REIT Achieves Record RMB 276.1 Million Sales Across All Four Outlets During China's 7-Day Golden Week Holidays

• Sasseur REIT record-breaking aggregate sales of RMB 276.1 million1 across its four outlets in China during the 7-day Golden Week holidays from 1 to 7 October 2024.
  
  
• This marks a significant increase in portfolio outlet sales of nearly 28% year-on-year (“YoY”) and an impressive surge of close to 55% compared to pre-pandemic levels in 2019.
  
  
• Chongqing (Liangjiang) Outlet maintained its leadership position in the portfolio with a remarkable RMB 145.3 million in sales, representing a YoY jump nearing 45%.

For further information, please click here

( YTD: -10.85% | 5D: -3.36%)

14-18 Sept - Continues daily Share Buy-back

For further information, please click here

( YTD: -1.74% | 5D: +0%)

17 Oct - Frasers Logistics & Commercial Trust Makes Maiden Acquisition of a Prime Logistics Property in Singapore

• Acquisition of a prime logistics property near the Tuas Mega Port, for S$140.3 million
  
  
• Aligned with strategy to expand its Logistics and Industrial (“L&I”) portfolio weightage

For further information, please click here

( YTD: +8.72% | 5D: -1.48%)

16 Oct - Business Update For The Third Quarter Of The Financial Year Ending 31 December 2024

• Gross Revenue for YTD 3Q 2024
  
  • Declined by 2.2% mainly due to depreciation of JPY, partly offset by contribution from the properties acquired in 2023 and 2024 
    
    
• DPU Growth Y-o-Y
  •  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
    
    
  • Higher distributable income from Singapore hospitals and some Japanese nursing homes with step-up lease arrangements
    
    
  • DPU for YTD 2024 (3Q DPU to be distributed as part of 2H 2024 distribution)
    
    
• Balance Sheet and Capital Structure
  • Low all-in debt cost: 1.36%
  • Gearing: 37.5%
  • Interest Cover: 10.2x
    
    
• Strengthens Japan Portfolio with Acquisition of a Newly-built Nursing Home Property in August 2024 
  •  Acquisition of a new and quality nursing home at JPY2,446.2 million (S$20.7 million)1 in Osaka at approximately 9.1% below valuation
    
    
  • Fortify strategic partnership with K.K. FDS, an established real estate developer, in a second collaboration and deepening working relationship with an existing credible tenant, K.K. BISCUSS
    
    
• Secured Long-Term Committed Loans for Pre-emptive Refinancing of Near-Term Debts
  • Successfully put in place two 7-year JPY loans to refinance the maturing loans due in 2025 and term out the short-term loan drawn down for acquisition, by 4Q 2024
    
    
  • Post refinancing, no long-term debt refinancing needs till September 2026
    
    
  • Overall weighted average debt term will extend from 3.0 years2 to 3.8 years upon drawdown of the new loan facilities
    
    
• On-going Management of PLife REIT’s Financial Risks
  • Principal FX risk mitigated as JPY acquisitions are fully funded by JPY loans (natural hedge)
    
    
  • Income FX risk mitigated with JPY net income hedges in place till 1Q 2029
    
    
  • Executed several interest rate swaps in 3Q 2024 (including forward-starting swaps) to extend maturing hedges for another 4 to 7 years
    
    
  • As at 30 September 2024, about 87% of interest rate exposure is hedged

For further information, please click here

( YTD: +15.38% | 5D: +0.45%)

18 Oct - Keppel DC REIT Key Business and Operational Updates for the Third Quarter of 2024

• 3Q 2024 vs 3Q 2023 - Higher DPU mainly due to
  • (i) rent increase from strong reversions and escalations
  • (ii) partial distribution of the DXC settlement sum received earlier in 1H 2024 and
  • (iii) contributions from Tokyo DC 1, partially offset by loss allowances for the Guangdong DCs, higher finance costs and depreciation of foreign currencies against SGD
    
    
• Financials
  • 3Q 2024 DPU1: 2.501 cents, a 6.1% increase q-o-q
  • Continued strong reversion of >40% in 3Q
  • Completed acquisition of Tokyo Data Centre 1 on 31 July 2024
• Portfolio Update
  • Occupancy: 97.6%
  • WALE: 6.3 years by lettable area
• Capital management
  • Average cost of debt: 3.3%
  • Leverage: 39.7%

For further information, please click here