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Latest Forum Topics / Croesus RTrust  Post Reply
Croesus R Trust Quarterly Results
katak88
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18-Aug-2017 09:58     
 
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H2 DPU 4.06cts

Croesus Retail Trust posts DPU of 2.01 Singapore cents for Q4

Friday, August 18, 2017 - 08:49


JAPANESE mall owner Croesus Retail Trust reported a distribution per unit (DPU) of 2.01 Singapore cents for its fourth quarter, up from 1.7 Singapore cents in the previous year, the group said in a Singapore Exchange filing on Friday morning.

That came as Q4 income available for distribution increased 19 per cent to 1.3 billion yen (S$16.2 million) from the preceding year.

For the three months ended June 30, gross revenue expanded 11.9 per cent to 2.99 billion yen from the previous year. Net property income edged up 0.1 per cent to 1.44 billion yen from the preceding year.

The expansion in gross revenue was due mainly to the acquisition of Fuji Grand Natalie on April 18, 2016 and Mallage Saga and Feeeal Asahikawa on May 27, 2016. Higher variable rent from better tenant sales in Mallage Shobu and a strong performance by the cinema in Torius also contributed to the rise in gross revenue, it said.
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chengwh1
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05-Jul-2017 18:34     
 
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 Alert Admin 		Yeah,... perhaps, hopefully,... GKG knows something that we don' t,...

Goldfinger      ( Date: 04-Jul-2017 10:10) Posted:

At $1.19 the market seems to be pricing in something more interesting. IMHO and personally I doubt GKG would be shoring up its positions for merely a few cents of dividends. It has far better things to do with its time and money.

chengwh1      ( Date: 02-Jul-2017 21:28) Posted:

Yeah,... here too,... waiting fro a better bid from another contender,... I think Bidco is offering too little,....
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Goldfinger
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04-Jul-2017 10:10     
 
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 Alert Admin 		At $1.19 the market seems to be pricing in something more interesting. IMHO and personally I doubt GKG would be shoring up its positions for merely a few cents of dividends. It has far better things to do with its time and money.

chengwh1      ( Date: 02-Jul-2017 21:28) Posted:

Yeah,... here too,... waiting fro a better bid from another contender,... I think Bidco is offering too little,....
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nqing87
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02-Jul-2017 23:14     
 
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 Alert Admin 		well, different market has different dynamics & sentiment towards various sectors.. for US, tech stock are highly value.. for singapore, currently healthcare, food/bev, entertainment are highly valued, while sectors such as property & oil/gas are shunned like disease.. stock market is thus not so straightforward unfortunately.. so u may end up holding an under-value counter that ends up under-value for years, until the sentiment for the sector picks up.. 

jeremyow      ( Date: 26-Apr-2017 11:59) Posted:



Thus, the valuations of the listed companies on SGX are generally not as rich. 

jeremyow      ( Date: 26-Apr-2017 11:57) Posted:



Haha! It is not the fault of SGX. It is only playing a middleman' s role to allow companies to be listed and to be traded on the exchange by everyone. I think perhaps because our Singapore stock exchange is relatively small compared to other larger stock exchanges overseas like the US, Japan, China, HongKong, Europe etc. So, ours only attract limited interest by instituitions and funds to invest and play the companies listed on our market. The bigger money is made in trading with other larger stock exchanges which offers more potential.  


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chengwh1
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02-Jul-2017 21:28     
 
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 Alert Admin 		Yeah,... here too,... waiting fro a better bid from another contender,... I think Bidco is offering too little,....
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Goldfinger
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02-Jul-2017 16:34     
 
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 Alert Admin 		I hope with the latest buys by GKG there is a prospect of a bidding war - surely many are reluctant to let this gem go at such prices? Remember that BR is not doing this deal out of charity.
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limahping
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02-Jul-2017 09:32     
 
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 Alert Admin 		Like This kind of comment is more neutral and objective

jeremyow      ( Date: 26-Apr-2017 11:57) Posted:



Haha! It is not the fault of SGX. It is only playing a middleman' s role to allow companies to be listed and to be traded on the exchange by everyone. I think perhaps because our Singapore stock exchange is relatively small compared to other larger stock exchanges overseas like the US, Japan, China, HongKong, Europe etc. So, ours only attract limited interest by instituitions and funds to invest and play the companies listed on our market. The bigger money is made in trading with other larger stock exchanges which offers more potential.  

Goldfinger      ( Date: 26-Apr-2017 11:11) Posted:

Actually don't really want to see this good company with freehold assets sold away - there's far more potential to be realised down the road. Silly SGX - so many good companies get delisted due to poor valuations leaving lousy penny junk. Haizzzz.
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jeremyow
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26-Apr-2017 11:59     
 
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Thus, the valuations of the listed companies on SGX are generally not as rich. 

jeremyow      ( Date: 26-Apr-2017 11:57) Posted:



Haha! It is not the fault of SGX. It is only playing a middleman' s role to allow companies to be listed and to be traded on the exchange by everyone. I think perhaps because our Singapore stock exchange is relatively small compared to other larger stock exchanges overseas like the US, Japan, China, HongKong, Europe etc. So, ours only attract limited interest by instituitions and funds to invest and play the companies listed on our market. The bigger money is made in trading with other larger stock exchanges which offers more potential.  

Goldfinger      ( Date: 26-Apr-2017 11:11) Posted:

Actually don't really want to see this good company with freehold assets sold away - there's far more potential to be realised down the road. Silly SGX - so many good companies get delisted due to poor valuations leaving lousy penny junk. Haizzzz.
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jeremyow
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26-Apr-2017 11:57     
 
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Haha! It is not the fault of SGX. It is only playing a middleman' s role to allow companies to be listed and to be traded on the exchange by everyone. I think perhaps because our Singapore stock exchange is relatively small compared to other larger stock exchanges overseas like the US, Japan, China, HongKong, Europe etc. So, ours only attract limited interest by instituitions and funds to invest and play the companies listed on our market. The bigger money is made in trading with other larger stock exchanges which offers more potential.  

Goldfinger      ( Date: 26-Apr-2017 11:11) Posted:

Actually don't really want to see this good company with freehold assets sold away - there's far more potential to be realised down the road. Silly SGX - so many good companies get delisted due to poor valuations leaving lousy penny junk. Haizzzz.
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Goldfinger
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26-Apr-2017 11:11     
 
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 Alert Admin 		Actually don't really want to see this good company with freehold assets sold away - there's far more potential to be realised down the road. Silly SGX - so many good companies get delisted due to poor valuations leaving lousy penny junk. Haizzzz.
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luvkarena
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26-Apr-2017 10:10     
 
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Good news for everyone!!! huat!!!

Croesus Retail Asset Management Pte. Ltd. (the &ldquo Trustee-Manager&rdquo ), as trustee-manager of Croesus Retail Trust (&ldquo CRT&rdquo ), wishes to announce that it has been approached in connection with a potential transaction which may or may not lead to an acquisition of all the issued units in CRT (&ldquo Units&rdquo ). Discussions are preliminary and there is no certainty or assurance whatsoever that these discussions will result in any transaction. The Trustee-Manager has appointed Citigroup Global Markets Singapore Pte. Ltd. as its financial adviser in connection with such approach.
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chengwh1
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02-Apr-2017 23:06     
 
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Based on the statements below earlier, I believed they have already started paying out 90% of the income available for distribution starting from the most recent March payment :-

SINGAPORE (Nov 11): Croesus Retail Trust (CRT), the Japan-based retail business trust, has re-committed to pay out 100% of its distributable income in FY16 (July 1 this year to June 30 next year), and at least 90% of its distributable income thereafter.

But... since the manager has been ' internalized' as of September last year, with the ' new-ly appointed mgr' need to uphold the commitments made by the previous mgr  earlier ?

Goldfinger      ( Date: 02-Apr-2017 10:48) Posted:

This is one lingering concern in case they only pay out 90% in future. But my hope is that the manager owns a significant number of shares - they may be less willing to reduce DPU

chengwh1      ( Date: 02-Apr-2017 07:06) Posted:



What was the commitment on the payout percentage of its distributable income for FY17 and beyond,... has this been announced recently ? Or it' s been just silent ?


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Goldfinger
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02-Apr-2017 10:48     
 
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 Alert Admin 		This is one lingering concern in case they only pay out 90% in future. But my hope is that the manager owns a significant number of shares - they may be less willing to reduce DPU

chengwh1      ( Date: 02-Apr-2017 07:06) Posted:



What was the commitment on the payout percentage of its distributable income for FY17 and beyond,... has this been announced recently ? Or it' s been just silent ?

katak88      ( Date: 12-Nov-2015 10:36) Posted:

Croesus Retail Trust re-committed to pay out 100% of distributable income in FY16



By  Benny Tan  / theedgemarkets.com   | November 11, 2015 : 8:27 PM MYT 

SINGAPORE (Nov 11): Croesus Retail Trust (CRT), the Japan-based retail business trust, has re-committed to pay out 100% of its distributable income in FY16 (July 1 this year to June 30 next year), and at least 90% of its distributable income thereafter.

This follows the expiry of its distribution policy to distribute 100% of its distributable income on June 30.
 
Meanwhile, the REIT has no plans to venture beyond Japan in its search for yield-accretive retail property assets. Currently, it holds eight properties in the country.
 
&ldquo We are still focusing on Japan only. We are still doing a lot of pipeline evaluation on what is suitable for CRT,&rdquo says Tetsuo Ito, CFO of trustee-manager Croesus Retail Asset Management, in a result briefing held this afternoon.
 
For 1QFY16 ended September, CRT posted DPU of 2.08 cents, unchanged from the corresponding quarter a year ago. This was due to an increase in units after a private placement exercise of 78.9 million units in September 11 last year, as well as units issued to pay for trustee-manager&rsquo s fees.
 
Net property income climbed 10.7% y-o-y to JPY 1.23 billion in 1QFY2016, while income available for distribution also rose 16.1% y-o-y to JPY 919 million. Gross revenue grew 17.2% y-o-y to JPY 2.01 billion during the quarter, mainly attributable to the acquisition of One&rsquo s Mall and the tenant renewal exercise at Mallage Shobu. As at end September, CRT&rsquo s portfolio has a committed occupancy rate of 98.6%.

Ito also reveals that CRT has extended its distribution hedge to cover up to the end of FY2017. &ldquo We are already hedged almost two years ahead,&rdquo   says he.

CRT receives its distributable income in Japanese yen, but pays out distributions in Singapore dollars to its unitholders. Consequently, it has hedged its entire distribution to minimise exposure to exchange rate fluctuations.
 
In addition, in order to mitigate any potential hike in interest rates, 100% of CRT&rsquo s debt is hedged to fixed interest rates.

&ldquo We hedged all the interest rates to be fixed until maturity. In the short term, there is no impact from interest rate moves in the market,&rdquo says Ito.

As at end September, CRT&rsquo s average all-in cost of debt stood at 1.98%.
 
Last month, CRT completed the acquisition of Torius, a suburban retail mall in Fukuoka Prefecture. Asset enhancement improvements are currently under consideration for this mall.
 
Units in CRT closed flat at 81.5 cents on Wednesday.

 

 



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chengwh1
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02-Apr-2017 07:06     
 
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What was the commitment on the payout percentage of its distributable income for FY17 and beyond,... has this been announced recently ? Or it' s been just silent ?

katak88      ( Date: 12-Nov-2015 10:36) Posted:

Croesus Retail Trust re-committed to pay out 100% of distributable income in FY16



By  Benny Tan  / theedgemarkets.com   | November 11, 2015 : 8:27 PM MYT 

SINGAPORE (Nov 11): Croesus Retail Trust (CRT), the Japan-based retail business trust, has re-committed to pay out 100% of its distributable income in FY16 (July 1 this year to June 30 next year), and at least 90% of its distributable income thereafter.

This follows the expiry of its distribution policy to distribute 100% of its distributable income on June 30.
 
Meanwhile, the REIT has no plans to venture beyond Japan in its search for yield-accretive retail property assets. Currently, it holds eight properties in the country.
 
&ldquo We are still focusing on Japan only. We are still doing a lot of pipeline evaluation on what is suitable for CRT,&rdquo says Tetsuo Ito, CFO of trustee-manager Croesus Retail Asset Management, in a result briefing held this afternoon.
 
For 1QFY16 ended September, CRT posted DPU of 2.08 cents, unchanged from the corresponding quarter a year ago. This was due to an increase in units after a private placement exercise of 78.9 million units in September 11 last year, as well as units issued to pay for trustee-manager&rsquo s fees.
 
Net property income climbed 10.7% y-o-y to JPY 1.23 billion in 1QFY2016, while income available for distribution also rose 16.1% y-o-y to JPY 919 million. Gross revenue grew 17.2% y-o-y to JPY 2.01 billion during the quarter, mainly attributable to the acquisition of One&rsquo s Mall and the tenant renewal exercise at Mallage Shobu. As at end September, CRT&rsquo s portfolio has a committed occupancy rate of 98.6%.

Ito also reveals that CRT has extended its distribution hedge to cover up to the end of FY2017. &ldquo We are already hedged almost two years ahead,&rdquo   says he.

CRT receives its distributable income in Japanese yen, but pays out distributions in Singapore dollars to its unitholders. Consequently, it has hedged its entire distribution to minimise exposure to exchange rate fluctuations.
 
In addition, in order to mitigate any potential hike in interest rates, 100% of CRT&rsquo s debt is hedged to fixed interest rates.

&ldquo We hedged all the interest rates to be fixed until maturity. In the short term, there is no impact from interest rate moves in the market,&rdquo says Ito.

As at end September, CRT&rsquo s average all-in cost of debt stood at 1.98%.
 
Last month, CRT completed the acquisition of Torius, a suburban retail mall in Fukuoka Prefecture. Asset enhancement improvements are currently under consideration for this mall.
 
Units in CRT closed flat at 81.5 cents on Wednesday.

 

 


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katak88
Master
12-Nov-2015 10:36     
 
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Croesus Retail Trust re-committed to pay out 100% of distributable income in FY16



By  Benny Tan  / theedgemarkets.com   | November 11, 2015 : 8:27 PM MYT 

SINGAPORE (Nov 11): Croesus Retail Trust (CRT), the Japan-based retail business trust, has re-committed to pay out 100% of its distributable income in FY16 (July 1 this year to June 30 next year), and at least 90% of its distributable income thereafter.

This follows the expiry of its distribution policy to distribute 100% of its distributable income on June 30.
 
Meanwhile, the REIT has no plans to venture beyond Japan in its search for yield-accretive retail property assets. Currently, it holds eight properties in the country.
 
&ldquo We are still focusing on Japan only. We are still doing a lot of pipeline evaluation on what is suitable for CRT,&rdquo says Tetsuo Ito, CFO of trustee-manager Croesus Retail Asset Management, in a result briefing held this afternoon.
 
For 1QFY16 ended September, CRT posted DPU of 2.08 cents, unchanged from the corresponding quarter a year ago. This was due to an increase in units after a private placement exercise of 78.9 million units in September 11 last year, as well as units issued to pay for trustee-manager&rsquo s fees.
 
Net property income climbed 10.7% y-o-y to JPY 1.23 billion in 1QFY2016, while income available for distribution also rose 16.1% y-o-y to JPY 919 million. Gross revenue grew 17.2% y-o-y to JPY 2.01 billion during the quarter, mainly attributable to the acquisition of One&rsquo s Mall and the tenant renewal exercise at Mallage Shobu. As at end September, CRT&rsquo s portfolio has a committed occupancy rate of 98.6%.

Ito also reveals that CRT has extended its distribution hedge to cover up to the end of FY2017. &ldquo We are already hedged almost two years ahead,&rdquo   says he.

CRT receives its distributable income in Japanese yen, but pays out distributions in Singapore dollars to its unitholders. Consequently, it has hedged its entire distribution to minimise exposure to exchange rate fluctuations.
 
In addition, in order to mitigate any potential hike in interest rates, 100% of CRT&rsquo s debt is hedged to fixed interest rates.

&ldquo We hedged all the interest rates to be fixed until maturity. In the short term, there is no impact from interest rate moves in the market,&rdquo says Ito.

As at end September, CRT&rsquo s average all-in cost of debt stood at 1.98%.
 
Last month, CRT completed the acquisition of Torius, a suburban retail mall in Fukuoka Prefecture. Asset enhancement improvements are currently under consideration for this mall.
 
Units in CRT closed flat at 81.5 cents on Wednesday.

 

 

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edwinjup
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11-Nov-2015 10:05     
 
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1q 2.08c...4q 8.32c...yield around 10%. Decent...

katak88      ( Date: 11-Nov-2015 09:46) Posted:

Croesus Retail Trust&rsquo s 1Q DPU stayed flat at 2.08 cents as number of units issued rose



By  Trinity Chua  / theedgemarkets.com   | November 11, 2015 : 8:20 AM MYT     

SINGAPORE (Nov 11): Asia-Pacific retail business trust, Croesus Retail Trust saw its distribution per unit (DPU) stayed flat at 2.08 cents for the three months ended September from a year ago compared to a year ago.

Gross revenue for the period rose 17.2% to JPY 2 billion ($23 million), lifted the acquisition of One&rsquo s Mall and the tenant renewal exercise at Mallage Shobu. Net property income rose 10.7% to JPY 1.2 billion, as a result.

Income available for distribution went up 16.1% to JPY 919 million for the quarter, mainly from realised foreign exchange gain and decrease in income tax expenses.

However, the total number of units issued also increased after the private placement exercise of 78.9 million units in September and the trustee-manager&rsquo s fees were paid in units.

Croesus ended lower at 81.5 cents on Monday.

 

 


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katak88
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11-Nov-2015 09:46     
 
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Croesus Retail Trust&rsquo s 1Q DPU stayed flat at 2.08 cents as number of units issued rose



By  Trinity Chua  / theedgemarkets.com   | November 11, 2015 : 8:20 AM MYT     

SINGAPORE (Nov 11): Asia-Pacific retail business trust, Croesus Retail Trust saw its distribution per unit (DPU) stayed flat at 2.08 cents for the three months ended September from a year ago compared to a year ago.

Gross revenue for the period rose 17.2% to JPY 2 billion ($23 million), lifted the acquisition of One&rsquo s Mall and the tenant renewal exercise at Mallage Shobu. Net property income rose 10.7% to JPY 1.2 billion, as a result.

Income available for distribution went up 16.1% to JPY 919 million for the quarter, mainly from realised foreign exchange gain and decrease in income tax expenses.

However, the total number of units issued also increased after the private placement exercise of 78.9 million units in September and the trustee-manager&rsquo s fees were paid in units.

Croesus ended lower at 81.5 cents on Monday.

 

 

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