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With reporting season in full swing, the fourth quarter ending 31 March 2015 saw Ascendas REIT achieve a 4.5% year-over-year rise in distribution per unit (DPU) to 3.71 Singapore cents, while Mapletree Logistics Trust posted a 2.1% year-on-year decline in DPU to 1.85 Singapore cents. Mapletree Industrial Trust reported a 5.6% year-on-year rise in its DPU to 2.65 Singapore cents for its fourth quarter ended 31 March.
These three REITs invest in industrial-related properties. An industrial real estate investment trust (REIT) is one of the nine REIT types classified by the Global Industry Classification Standard (GICS®). According to GICS®, Industrial REITs comprise companies or trusts engaged in the acquisition, development, ownership, leasing, management and operation of industrial properties. This includes companies operating industrial warehouses and distribution properties.
Singapore Exchange (SGX) lists seven GICS-categorised Industrial REITs. They are Ascendas REIT, Mapletree Logistics Trust, Mapletree Industrial Trust, Cache Logistics Trust, AIMS AMP Capital Industrial REIT, Cambridge Industrial Trust and Sabana Shariah Compliance Industrial REIT. Two other REITs – Soilbuild Business Space REIT (Office REITs) and Viva Industrial Trust (Diversified REITs) – are also associated with the industrial segment, as their business parks are mostly for industrial use.
The nine REITs have a combined market capitalisation of S$16.8 billion, and generated an average and median year-to-date total return of 6.5% and 7.1% respectively. They also averaged a price gain of 4.7% in the year thus far.
Of these nine trusts, the three largest capitalised are Ascendas REIT, Mapletree Logistics Trust and Mapletree Industrial Trust. They have a combined market value of S$12.1 billion, accounting for almost three quarters of the total market capitalisation of the nine REITs.
The three also averaged a YTD price gain of 7.5%, with dividends boosting their year-to-date total returns to 8.7%. This is above the FTSE ST Real Estate Invesment Trust Index’s total return of 6.4% YTD. Ascendas REIT was also the first of the industrial REITs to be listed in Singapore and was included in the Straits Times Index (STI) earlier last year. These three trusts also averaged a dividend yield of 6.1%, double that of the Singapore Fixed Income Index (SFI) at 3.0%.
The table below details the nine REITs sorted according to market capitalisation.
Source: SGX StockFacts (Data as of 23 April 2015)
*Note: Both are included in the list as their business parks are mostly for industrial purposes
Ascendas Real Estate Investment Trust
Ascendas Real Estate Investment Trust is a real estate investment trust launched and managed by Ascendas Funds Management (S). The fund invests in the real estate markets of Singapore and China. It invests in business and science Parks properties, Hi-Specs Industrial properties/Data Centres, Light Industrial properties/Flatted Factories, Logistics & Distribution Centres, and Warehouse Retail Facilities. Ascendas Funds Management (S) was formed on October 9, 2002 and is based in Singapore, Singapore.
Ascendas Real Estate Investment Trust has a market capitalisation of S$6.2 billion and the stock trades at a price-to-earnings ratio of 14.0. It also maintains a dividend yield of 5.6%.
On 7 April 2015, Ascendas Funds Management (S), the manager of Ascendas Real Estate Investment Trust announced that the sale of 26 Senoko Way to JTC Corporation has been completed for S$24.8 million. Following this sale, A-REIT owns 104 properties in Singapore and 2 business park properties in China (clickhere to view more).
Mapletree Logistics Trust
Mapletree Logistics Trust, together with its subsidiaries, operates as a logistics real estate investment trust primarily in Singapore. It invests in a portfolio of logistics real estate and real-estate-related assets. The company’s properties include oil and chemical logistics, free trade and non free trade zone third party logistics, food and cold storage, distribution centre, and industrial warehousing. The company was founded in 2004 and is headquartered in Singapore, Singapore.
Mapletree Logistics Trust has a market capitalisation of S$3.1 billion and the stock trades at a price-to-earnings ratio of 12.8. It also maintains a dividend yield of 6.1%.
On 20 April 2015, the trust released their gross revenue for the quarter ended 31 March 2015, increase by 5.7% or S$4.5 million to S$84.7 million year-on-year. The increase was mainly attributed to contributions from six properties acquired in China, Singapore, Malaysia and Korea during the financial year, contribution from Mapletree Benoi Logistics Hub as well as higher revenue from existing assets in Singapore, Hong Kong and Malaysia (click here to view more).
Mapletree Industrial Trust
Mapletree Industrial Trust operates as a real estate investment trust in Singapore. The company was founded in 2008 and is based in Singapore. Mapletree Industrial Trust has a market capitalisation of S$2.8 billion and the stock trades at a price-to-earnings ratio of 7.5. It also maintains a dividend yield of 6.6%.
On 21 April 2015, the trust reported their gross revenue for the quarter ended 31 March 2014, increased by 5.6% or S$4.2 million to S$79.4 million year-on-year. This was due mainly to higher rental rates and occupancies achieved in the Hi-Tech Buildings, Business Park Buildings, and Light Industrial Buildings, as well as revenue contribution from the acquisition of 2A Changi North Street 2 and the completion of the build-to-suit project for Equinix Singapore at 26A Ayer Rajah Crescent (click here to view more).
Source: My Gateway
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More than one in ten of the stocks listed on the Singapore Exchange represent the Information Technology (IT) sector.
There are three types of IT stocks – those involved in technology hardware & equipment, companies operating software & services businesses and those involved in semiconductor fabrication and semiconductor equipment, according to the Global Industry Classification Standard (GICS®). Investors can find all the SGX-listed stocks that make up the Information Technology (IT) sector through SGX StockFacts.
Five Largest IT Stocks
The five largest IT stocks – Silverlake Axis, Venture Corporation, STATS ChipPAC, TPV Technology, and GSH Corporation – make up over half the total market capitalisation of the more than 80 SGX-listed IT stocks. They have a combined market capitalisation of S$8.2 billion and averaged 9.2% price gain in the year thus far. They also maintain an average yield of 2.4%. Over the last 12 months, they generated an average return of 30.4%, bringing their average three-year total return to 115.8% and five-year total average return to 270.3%.
Details of the relevant stocks are listed below. Note also that clicking directly on the stock name below will take you to the relevant profile page on SGX StockFacts.
Silverlake Axis
Silverlake Axis provides digital economy solutions and services to organizations in banking, insurance, payment, retail, and logistics industries. Silverlake Axis operates in South East Asia, North East Asia, South Asia, the Middle East, North America, Africa, and Europe. The company was founded in 1989 and is based in Singapore. Silverlake Axis is a subsidiary of Intelligentsia Holding Ltd. Silverlake Axis is the largest IT stock with a market capitalisation of S$3,109.9 million, and the stock trades at a price-to-earnings ratio of 30.6. The five substantial shareholders are Goh Peng Ooi, CIMB-Principal Asset Management Bhd, Artemis Investment Management LLP, Thuan See Chuang, and Royal Bank of Canada. The company website is: www.silverlakeaxis.com.
Venture Corporation
Venture Corporation provides technology services, products, and solutions worldwide. The company operates through three segments: Electronics Services Provider, Retail Store Solutions and Industrial, and Component Technology. Venture Corporation was founded in 1984 and is headquartered in Singapore. Venture Corporation has a market capitalisation of S$2,361.1 million and the stock trades at a price-to-earnings ratio of 16.9. The five substantial shareholders are Aberdeen Asset Management PLC, BNP Paribas, Sprucegrove Investment Management Ltd, Wong Ngit Liong, and Schroder Investment Management Limited. The company website is: www.venture.com.sg.
STATS ChipPAC
STATS ChipPAC provides semiconductor packaging design, bump, probe, assembly, test, and distribution services for communications, digital consumer, and computing market applications. The company markets its services through direct sales force in the United States, South Korea, China, Singapore, Taiwan, and Switzerland. STATS ChipPAC Ltd. was founded in 1994 and is headquartered in Singapore. STATS ChipPAC operates as a subsidiary of Singapore Technologies Semiconductors Pte Ltd. STATS ChipPAC has a market capitalisation of S$1,112.1 million and the stock trades at a price-to-book value of 0.9. The five substantial shareholders are Singapore Technologies Semiconductors Pte Ltd, Morph Investments Ltd., DBS Group Holdings Limited, CIMB-Principal Asset Management Bhd, and Choo Ah Seng. The company website is: www.statschippac.com.
TPV Technology
TPV Technology designs, manufactures, and distributes computer monitors and flat TV products worldwide. It operates through four segments: Monitors, TVs, TP Vision—TVs, and Others. The company was formerly known as TPV Holdings Limited and changed its name to TPV Technology in June 2000. TPV Technology was incorporated in 1998 and is based in Kwun Tong, Hong Kong. TPV Technology has a market capitalisation of S$903.1 million and the stock trades at a price-to-earnings ratio of 16.3. The company website is: www.tpv-tech.com.
GSH Corporation
GSH Corporation operates as a property developer in Southeast Asia. The company was formerly known as JEL Corporation (Holdings) Ltd. and changed its name to GSH Corporation in May 2012. GSH Corporation was incorporated in 2001 and is based in Singapore. GSH Corporation has a market capitalisation of S$751.3 million and the stock trades at a price-to-earnings ratio of 14.0. The five substantial shareholders are Goi, Seng Hui, Ee, Guan Hui, Goodview Properties Pte Ltd, SkyVen Capital Pte Ltd, and Golden Super Holdings Limited. The company website is: www.gshcorporation.com.
Source: My Gateway
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Seminar Details | |
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| Date | 25th Apr 2015 (Saturday) |
| Time | 9.00am - 12.00pm (Registration starts at 8.30am) |
| Venue | SPH News Centre (T8.2/T8.3) 1000 Toa Payoh North Singapore 318994 |
| Level | Intermediate |
| Instructional Method | Group-Live |
| Pre-requisites | None |
| Duration | 3 Hours |
