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chengwh1 Elite	28-Jun-2017 19:28        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I just realized,... the problem with this Private Placement (PP) is,... there is no working anywhere that details out what would the dpu be compared to now  after this placement has taken place and the seven properties have been acquired. In other REITs, eg in the recent PP performed by Manulife US REIT, the above working that I mentioned is clearly shown in the PP document. So,... to unitholders who were not offered the units, would always think there is going to be a large dilution in-place, hence lowering the dpu in the future,....
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halleluyah Supreme	28-Jun-2017 09:08        halleluyah About Contact  Quote this Post!
x 0   x 0  Alert Admin	placement of 78m at 1.01.....dilluted.... halleluyah      ( Date: 22-Jun-2017 10:40) Posted: got a feeling might issue a rights...7 prop = abt 174m...where to get $$ ??
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chengwh1 Elite	22-Jun-2017 12:52        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	The props and acquisitions have been announced upfront, BUT the acquisitions have not really been officially completed yet ! The Mgr just announced their ' solid plans' to us only,.... I think there will still be quite a lot of activities ahead of us pertaining to this big ann' t of 7 props to acquire. I wondered why they abbounced like this ? Can' t they only announce when they actually buy ?   halleluyah      ( Date: 22-Jun-2017 10:40) Posted: got a feeling might issue a rights...7 prop = abt 174m...where to get $$ ??
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halleluyah Supreme	22-Jun-2017 10:40        halleluyah About Contact  Quote this Post!
x 0   x 0  Alert Admin	got a feeling might issue a rights...7 prop = abt 174m...where to get $$ ??
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chengwh1 Elite	07-Jun-2017 16:43        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hi Jeremy,... as usual,... your write-ups are very detailed,... tq very much ! I read  yesterday the press conference by FLIT, and  this evening,  read yr writeup too. I realized FLIT is actually acquiring the properties on a gradual basis. The 4 completed properties will be acquired immediately, but the targetted date of completion has not been disclosed. Then, for the 3 under-development properties,... it' s even worse, I recalled there is one that will only be completed by 1st or 2nd qtr next year. So,... that 5.38 Cts per unit is actually the total dpu to be enjoyed when ALL acquisitions are completed (which is by 1st or 2nd qtr 2018), and the conditions as said in the press conference are met. One of the conditions is, the funding must be by a mixture of debts and equity,... hence, IF we wanted this project to be dpu-accretive by 5 cts,... we may need to go through a Rights Issue. I' ll leave out the bad events that may possibly turn out later on down the road. As of now,... the above are not really that ' nice' ,.... jeremyow      ( Date: 07-Jun-2017 11:19) Posted: Hi Chengwh1, if you looked at the announcement from SGX again for this proposed transaction which includes acquistion of 4 completed and 3 under development properties, the pro forma illustration is only from the lisiting date in June 2016 to Mar 2017. The number of days is around 280 plus days. It is not one full complete financial year. Thus, we will not expect the estimated pro forma DPU to be around 6.5 cents or higher region. So, 5.38 Singapore cents is the estimated region based on less than one full financial year of consideration.  The purpose of the pro forma illustration is to allow investors to see the effect of the proposed acquisition of all the properties as though they have been completed at the listing date and contributing to the rental revenue, income, distribution and NAV of the REIT over the entire period from the listing date in June 2016 to Mar 2017 this year. Obviously, we know this proposed acquistion of the properties have not taken place yet so the pro forma effects of this transaction is only working out the various financial figures on the assumption that it has occured over the entire period from the listing date in June 2016 to Mar 2017.  Pro forma illustration is helpful though may not be always pin-point accurate. It has already worked out the estimated financial effects factoring in the estimated economics of the rental properties in their rental revenues, incomes, their valuations, contributions to distributions and NAV as though they were acquired during the listing date in June 2016 and have been in operation up to Mar 2017. Also, the intended manner of funding for the acquisition through debts or debts and equity would have been factored in as well when working out the pro forma effects of the acquisition of the properties.  So, it is a throw all in and then calculate the effects of the financial transaction whether it will be yield accretive or not. If it raises the DPU after the transaction has taken place, then it should be yield accretive. However, if it lowers DPU or DPU has not changed after the transaction has taken place, then it is not yield accretive. In this case, in the pro forma illustration, if the DPU will increase from 5.33 Singapore cents to 5.38 Sinagpore cents, then this transaction is yield accretive.  Lastly, a caveat is that a pro forma is based on estimation of the current financial effects of the transaction. It does not necessarily guarantee the acquired properties will continue to contribute with similar financial effects as stated in the the pro forma illustration going forward after the transaction has taken place. Anything could happen along the way in future to any of the acquired properties to impact the way they contribute financially to the REIT.  A yield accretive transaction is a good thing as of current. But what matters also is how the properties are managed by the REIT in future to continue to maintain their good economics. If not, a supposedly yield accretive acquisition at a point in time may also turn bad in future years thus dragging down the financials of the REIT.  Thus, do consider the long term financial effects of any acquisition to the REIT and let' s not be only short term chasing after yield accretive transactions which may also have a chance to turn yield destroying in future years if their economics are not so good for the long term and only touted to be good now. Are the properties being acquired really good in their long term economics? Is the REIT really wise in a longer term perspective and outlook to make the call to acquire the properties now?   ​ At least for now, a yield accretive acquisition is always welcomed for the unitholders. Always think longer term and one will see whether the REIT manager is really wise or not in every acquisition or even their other actions.       chengwh1      ( Date: 07-Jun-2017 00:19) Posted: Tq SimpleTRade,... as in other documentation by other REITs to illustrate on the yield-accretiveness in an acquisition, FLIT should be basing on real-life committed figures to explain,...shouldn' t be using fictitious figures..
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lpmcc10 Member	07-Jun-2017 13:28        lpmcc10 About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	Well on the flip side, the valuation of the properties performed by the valuators will also be higher in a lower interest rate environment than when the interest rates are higher. SimpleTrade      ( Date: 06-Jun-2017 20:18) Posted: Maybe Fraser is consolidating all the logistic assets under this trust. Anyway, if they do it later, the interest rate of loan will be much higher . chengwh1      ( Date: 06-Jun-2017 16:25) Posted: So many units at one go,... why not one by one ?? If buying simultaneously,.....may need equity-raising already, will it be Rights Issue or Private Placement
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jeremyow Master	07-Jun-2017 11:19        jeremyow About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Passionate business investor"
x 0   x 0  Alert Admin	Hi Chengwh1, if you looked at the announcement from SGX again for this proposed transaction which includes acquistion of 4 completed and 3 under development properties, the pro forma illustration is only from the lisiting date in June 2016 to Mar 2017. The number of days is around 280 plus days. It is not one full complete financial year. Thus, we will not expect the estimated pro forma DPU to be around 6.5 cents or higher region. So, 5.38 Singapore cents is the estimated region based on less than one full financial year of consideration.  The purpose of the pro forma illustration is to allow investors to see the effect of the proposed acquisition of all the properties as though they have been completed at the listing date and contributing to the rental revenue, income, distribution and NAV of the REIT over the entire period from the listing date in June 2016 to Mar 2017 this year. Obviously, we know this proposed acquistion of the properties have not taken place yet so the pro forma effects of this transaction is only working out the various financial figures on the assumption that it has occured over the entire period from the listing date in June 2016 to Mar 2017.  Pro forma illustration is helpful though may not be always pin-point accurate. It has already worked out the estimated financial effects factoring in the estimated economics of the rental properties in their rental revenues, incomes, their valuations, contributions to distributions and NAV as though they were acquired during the listing date in June 2016 and have been in operation up to Mar 2017. Also, the intended manner of funding for the acquisition through debts or debts and equity would have been factored in as well when working out the pro forma effects of the acquisition of the properties.  So, it is a throw all in and then calculate the effects of the financial transaction whether it will be yield accretive or not. If it raises the DPU after the transaction has taken place, then it should be yield accretive. However, if it lowers DPU or DPU has not changed after the transaction has taken place, then it is not yield accretive. In this case, in the pro forma illustration, if the DPU will increase from 5.33 Singapore cents to 5.38 Sinagpore cents, then this transaction is yield accretive.  Lastly, a caveat is that a pro forma is based on estimation of the current financial effects of the transaction. It does not necessarily guarantee the acquired properties will continue to contribute with similar financial effects as stated in the the pro forma illustration going forward after the transaction has taken place. Anything could happen along the way in future to any of the acquired properties to impact the way they contribute financially to the REIT.  A yield accretive transaction is a good thing as of current. But what matters also is how the properties are managed by the REIT in future to continue to maintain their good economics. If not, a supposedly yield accretive acquisition at a point in time may also turn bad in future years thus dragging down the financials of the REIT.  Thus, do consider the long term financial effects of any acquisition to the REIT and let' s not be only short term chasing after yield accretive transactions which may also have a chance to turn yield destroying in future years if their economics are not so good for the long term and only touted to be good now. Are the properties being acquired really good in their long term economics? Is the REIT really wise in a longer term perspective and outlook to make the call to acquire the properties now?   ​ At least for now, a yield accretive acquisition is always welcomed for the unitholders. Always think longer term and one will see whether the REIT manager is really wise or not in every acquisition or even their other actions.       chengwh1      ( Date: 07-Jun-2017 00:19) Posted: Tq SimpleTRade,... as in other documentation by other REITs to illustrate on the yield-accretiveness in an acquisition, FLIT should be basing on real-life committed figures to explain,...shouldn' t be using fictitious figures... SimpleTrade      ( Date: 06-Jun-2017 21:28) Posted: Well, if you read carefully. Note . 7   stated   " Strictly for illustration purposes only." at the start. The number is just to show you what is dpu accretive
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chengwh1 Elite	07-Jun-2017 00:19        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Tq SimpleTRade,... as in other documentation by other REITs to illustrate on the yield-accretiveness in an acquisition, FLIT should be basing on real-life committed figures to explain,...shouldn' t be using fictitious figures... SimpleTrade      ( Date: 06-Jun-2017 21:28) Posted: Well, if you read carefully. Note . 7   stated   " Strictly for illustration purposes only." at the start. The number is just to show you what is dpu accretive. chengwh1      ( Date: 06-Jun-2017 20:43) Posted: Ueah,... you' re right there,... with the loan interest rates so low now,... it' s better to  do this acq  now,.... another thing that baffled me is this statement in the press release : The DPU will increase from 5.33 Singapore cents to 5.38 Singapore cents. How did they calculate the above ? The mgmt committed 6.50 cts for this Financial Year. What is this 5.33 Cts all about ?
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SimpleTrade Senior	06-Jun-2017 21:28        SimpleTrade About Contact  Quote this Post!
x 0   x 0  Alert Admin	Well, if you read carefully. Note . 7   stated   " Strictly for illustration purposes only." at the start. The number is just to show you what is dpu accretive. chengwh1      ( Date: 06-Jun-2017 20:43) Posted: Ueah,... you' re right there,... with the loan interest rates so low now,... it' s better to  do this acq  now,.... another thing that baffled me is this statement in the press release : The DPU will increase from 5.33 Singapore cents to 5.38 Singapore cents. How did they calculate the above ? The mgmt committed 6.50 cts for this Financial Year. What is this 5.33 Cts all about ?   SimpleTrade      ( Date: 06-Jun-2017 20:18) Posted: Maybe Fraser is consolidating all the logistic assets under this trust. Anyway, if they do it later, the interest rate of loan will be much higher
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chengwh1 Elite	06-Jun-2017 20:43        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ueah,... you' re right there,... with the loan interest rates so low now,... it' s better to  do this acq  now,.... another thing that baffled me is this statement in the press release : The DPU will increase from 5.33 Singapore cents to 5.38 Singapore cents. How did they calculate the above ? The mgmt committed 6.50 cts for this Financial Year. What is this 5.33 Cts all about ?   SimpleTrade      ( Date: 06-Jun-2017 20:18) Posted: Maybe Fraser is consolidating all the logistic assets under this trust. Anyway, if they do it later, the interest rate of loan will be much higher . chengwh1      ( Date: 06-Jun-2017 16:25) Posted: So many units at one go,... why not one by one ?? If buying simultaneously,.....may need equity-raising already, will it be Rights Issue or Private Placement
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SimpleTrade Senior	06-Jun-2017 20:18        SimpleTrade About Contact  Quote this Post!
x 0   x 0  Alert Admin	Maybe Fraser is consolidating all the logistic assets under this trust. Anyway, if they do it later, the interest rate of loan will be much higher . chengwh1      ( Date: 06-Jun-2017 16:25) Posted: So many units at one go,... why not one by one ?? If buying simultaneously,.....may need equity-raising already, will it be Rights Issue or Private Placement ? SimpleTrade      ( Date: 06-Jun-2017 09:21) Posted: Singapore, 6 June 2017 &ndash Frasers Logistics & Industrial Asset Management Pte. Ltd. (&ldquo 星 狮 物 流 工 业 资 产 管 理 公 司 &rdquo ), the manager of Frasers Logistics & Industrial Trust (&ldquo 星 狮 物 流 工 业 信 托 &rdquo ) (&ldquo FLT&rdquo and the manager of FLT, the &ldquo REIT Manager&rdquo ), is pleased to announce the portfolio acquisition of seven fully leased or precommitted, quality and well-located industrial properties (the &ldquo New Properties&rdquo ) in Australia. This comprises four completed properties (&ldquo Completed Properties&rdquo ) and three properties currently under development (&ldquo Development Properties&rdquo ) for an aggregate acquisition amount (the &ldquo Aggregate Acquisition Amount&rdquo ) of approximately A$169.3 million2 (&ldquo Proposed Transaction&rdquo ). Funding for the acquisitions may be through borrowings entirely or a combination of borrowings and equity. Based on the pro forma financial effects of the Proposed Transaction6, the distribution per unit of FLT (&ldquo DPU&rdquo ) is expected to be DPU accretive7. http://infopub.sgx.com/FileOpen/FLIAM_Press_Release_6June2017.ashx?App=Announcement& FileID=456794
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chengwh1 Elite	06-Jun-2017 16:25        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	So many units at one go,... why not one by one ?? If buying simultaneously,.....may need equity-raising already, will it be Rights Issue or Private Placement ? SimpleTrade      ( Date: 06-Jun-2017 09:21) Posted: Singapore, 6 June 2017 &ndash Frasers Logistics & Industrial Asset Management Pte. Ltd. (&ldquo 星 狮 物 流 工 业 资 产 管 理 公 司 &rdquo ), the manager of Frasers Logistics & Industrial Trust (&ldquo 星 狮 物 流 工 业 信 托 &rdquo ) (&ldquo FLT&rdquo and the manager of FLT, the &ldquo REIT Manager&rdquo ), is pleased to announce the portfolio acquisition of seven fully leased or precommitted, quality and well-located industrial properties (the &ldquo New Properties&rdquo ) in Australia. This comprises four completed properties (&ldquo Completed Properties&rdquo ) and three properties currently under development (&ldquo Development Properties&rdquo ) for an aggregate acquisition amount (the &ldquo Aggregate Acquisition Amount&rdquo ) of approximately A$169.3 million2 (&ldquo Proposed Transaction&rdquo ). Funding for the acquisitions may be through borrowings entirely or a combination of borrowings and equity. Based on the pro forma financial effects of the Proposed Transaction6, the distribution per unit of FLT (&ldquo DPU&rdquo ) is expected to be DPU accretive7. http://infopub.sgx.com/FileOpen/FLIAM_Press_Release_6June2017.ashx?App=Announcement& FileID=456794
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SimpleTrade Senior	06-Jun-2017 09:21        SimpleTrade About Contact  Quote this Post!
x 0   x 0  Alert Admin	Singapore, 6 June 2017 &ndash Frasers Logistics & Industrial Asset Management Pte. Ltd. (&ldquo 星 狮 物 流 工 业 资 产 管 理 公 司 &rdquo ), the manager of Frasers Logistics & Industrial Trust (&ldquo 星 狮 物 流 工 业 信 托 &rdquo ) (&ldquo FLT&rdquo and the manager of FLT, the &ldquo REIT Manager&rdquo ), is pleased to announce the portfolio acquisition of seven fully leased or precommitted, quality and well-located industrial properties (the &ldquo New Properties&rdquo ) in Australia. This comprises four completed properties (&ldquo Completed Properties&rdquo ) and three properties currently under development (&ldquo Development Properties&rdquo ) for an aggregate acquisition amount (the &ldquo Aggregate Acquisition Amount&rdquo ) of approximately A$169.3 million2 (&ldquo Proposed Transaction&rdquo ). Funding for the acquisitions may be through borrowings entirely or a combination of borrowings and equity. Based on the pro forma financial effects of the Proposed Transaction6, the distribution per unit of FLT (&ldquo DPU&rdquo ) is expected to be DPU accretive7. http://infopub.sgx.com/FileOpen/FLIAM_Press_Release_6June2017.ashx?App=Announcement& FileID=456794
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chengwh1 Elite	06-May-2017 21:48        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I theorised that the the fall in price yesterday, inspite of the good report is because of : the weakening AUD vs the SGD. IN spite of FLIT saying that they have hedged 100% of  their distribution income (which are in the Australian dollar) up to its fiscal year ended 30 September 2017, still, the risk of unfavourable currency swings between the Singapore dollar and Australian dollar in the future is still something to keep in mind. jeremyow      ( Date: 05-May-2017 21:41) Posted: No worries about a one cent drop in price. It has already risen by close to 10% from its recent low around 93 cents. I will be surprised only if it continues to fall another 2 to 3 cents more. Anyway, I am hoping it will fall below $1 closer to 95 cents to consider building a position in it. If fundamentals are stable and good in the foreseeable future, cheap prices can only be a welcomed bargain. :) chengwh1      ( Date: 05-May-2017 16:44) Posted: Glad to be able to contribute,... Jeremy,... why did the price drop today then ?
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jeremyow Master	05-May-2017 21:41        jeremyow About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Passionate business investor"
x 0   x 0  Alert Admin	No worries about a one cent drop in price. It has already risen by close to 10% from its recent low around 93 cents. I will be surprised only if it continues to fall another 2 to 3 cents more. Anyway, I am hoping it will fall below $1 closer to 95 cents to consider building a position in it. If fundamentals are stable and good in the foreseeable future, cheap prices can only be a welcomed bargain. :) chengwh1      ( Date: 05-May-2017 16:44) Posted: Glad to be able to contribute,... Jeremy,... why did the price drop today then ? jeremyow      ( Date: 05-May-2017 15:57) Posted: Thanks Chengwh1 for sharing the 1Q 17 results and also the half-yearly distribution information for FLIT. So far so good. Continue to watch their next quarter' s financial performance. By the looks of things which are stable for them, next quarter they should do good as well.
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chengwh1 Elite	05-May-2017 16:44        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Glad to be able to contribute,... Jeremy,... why did the price drop today then ? jeremyow      ( Date: 05-May-2017 15:57) Posted: Thanks Chengwh1 for sharing the 1Q 17 results and also the half-yearly distribution information for FLIT. So far so good. Continue to watch their next quarter' s financial performance. By the looks of things which are stable for them, next quarter they should do good as well.     chengwh1      ( Date: 05-May-2017 15:30) Posted: Reported at 6.45 am this morning :-   FLT exceeds Forecast by 6.7% with 1.75 Singapore Cents DPU for the Quarter ended 31 March 2017 *** Highlights  Distributable Income for the Quarter at A$25.1 million is 5.9% above Forecast(1)  Declared distribution of 3.49 Singapore cents for the six month period ended 31 March 2017, exceeding forecast by 6.4%(2)  Lower borrowing costs than Forecast(1)  13,111 sq m of new lease and lease renewals executed  High portfolio occupancy of 99.3% Singapore, 5 May 2017 &ndash Frasers Logistics & Industrial Asset Management Pte. Ltd. (" 星 狮 物 流 工 业 资 产 管 理 公 司 " ), the manager of Frasers Logistics & Industrial Trust (" 星 狮 物 流 工 业 信 托 " ) (" FLT" , and the manager of FLT, the " REIT Manager" ), is pleased to announce FLT&rsquo s results for the financial quarter ended 31 March 2017 (the " Quarter" ). REVIEW OF FINANCIAL PERFORMANCE FLT recorded gross revenue of A$40.9 million for the Quarter, 1.6% above the Forecast of A$40.3 million. Excluding straight lining rental adjustment, gross revenue was in line with Forecast. Actual property operating expenses was A$6.4 million, 2.3% below Forecast due mainly to an exemption for Absentee Landlord Tax Levy(4) by the Victorian State Government for the 2017 tax year, which was partially offset by provisions for repairs and maintenance costs incurred for some properties that had their leases extended and those undergoing leasing negotiations. As a result, Adjusted Net Property Income for the Quarter was marginally above Forecast at A$30.9 million. Distributable Income and DPU were A$25.1 million and 1.75 Singapore cents respectively, exceeding Forecasts by 5.9% and 6.7% respectively. The positive variances were mainly attributable to lower trust expenses and interest savings from a lower actual weighted average interest rate of 2.8%(5) per annum, compared to a forecast weighted average interest rate of 3.4%(5) per annum. Compared to the previous quarter ended 31 December 2016, FLT&rsquo s distributable income and DPU grew 0.7% and 0.6%, from A$24.9 million and 1.74 Singapore cents, to A$25.1 million and 1.75 Singapore cents. Mr. Robert Wallace, Chief Executive Officer of the REIT Manager, said, " We are heartened that FLT has achieved results ahead of Forecast for the third consecutive financial period. This was made possible on the back of interest cost savings, proactive leasing activities and the acquisition of the three call option properties in late 2016." PORTFOLIO UPDATE 13,111 square metres (" sq m" ) of new lease and lease renewals were completed in the Quarter, bringing total new leases and renewals executed since FLT&rsquo s listing to 113,956 sq m, or 9.3% of the total Portfolio GLA. Portfolio occupancy held firm at 99.3% as at 31 March 2017, with a WALE of 6.7 years and minimal lease expiries of 0.2% (by gross rental income) for the financial year ending 30 September 2017. FLT also has the largest industrial Green Star performance rated portfolio in Australia with 59 tenancies across 48 properties having achieved Green Star Performance ratings. The Green Star rating is provided by the Green Building Council of Australia (GBCA) which assesses properties against nine key performance criteria &ndash energy, water, transport, materials, indoor environment quality, management, land use & ecology, emissions and innovation. The total value of FLT&rsquo s portfolio was A$1.75 billion as at 31 March 2017. CAPITAL MANAGEMENT As at 31 March 2017, FLT&rsquo s aggregate leverage is 28.9%, providing FLT with available debt headroom for growth. Total borrowings stood at A$530 million, 79% of which are hedged. The weighted average interest rate for borrowings for the Quarter was 2.8% per annum. DISTRIBUTION DETAILS FLT has declared a distribution of 3.49 Singapore cents per Unit for the six-month period from 1 October 2016 to 31 March 2017, to be paid on 23 June 2017. The books closure date is 16 May 2017. Together with the distribution of 1.84 Singapore cents per Unit paid on 15 December 2016, FLT has to-date declared/paid total distributions amounting to 5.33 Singapore cents per Unit. FLT&rsquo s distribution policy is to distribute 100% of its distributable income to 30 September 2017, and at least 90% of its distributable income thereafter. FLT will make distributions to unitholders on a semi-annual basis for the six-month periods ending 31 March and 30 September. OUTLOOK Australian industrial property supply levels in 2017 are close to ten-year level highs, with development activity concentrated in Melbourne and Sydney. However, in contrast to the previous construction peak, a higher proportion of the new supply were pre-leased. Sydney remains the strongest leasing market with indications of rental growth. In Melbourne, industrial rents in the western region are essentially unchanged, whilst there has been some evidence of rental growth in the south-east region. Brisbane industrial rents remain under pressure. Institutional investors are continuing to expand their ownership of industrial assets (particularly within the logistics sector), which diminishes the availability of assets (particularly high-quality assets) for sale. The limited supply for prime grade industrial stock has resulted in firming of investment yields for secondary stock. " The eastern seaboard of Australia continues to show positive demand for industrial properties, driven by economic growth and healthy leasing activity. Interest rates also remain at historically low levels, fuelling investment demand. With a prime portfolio of 54 properties mostly concentrated in New South Wales, Victoria and Queensland, coupled with a solid pipeline of Sponsor-developed industrial assets, we remain confident in FLT&rsquo s ability to pursue long-term value for our unitholders," Mr. Wallace said. The REIT Manager currently expects FLT to at least meet the FY2017 DPU Forecast of 6.50 Singapore cents contained in the Prospectus barring any unforeseen circumstances.
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chengwh1 Elite	05-May-2017 16:42        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Results this morning was good,... why did the price dive as the day progresses ? Anybody knows please ?
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jeremyow Master	05-May-2017 15:57        jeremyow About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Passionate business investor"
x 0   x 0  Alert Admin	Thanks Chengwh1 for sharing the 1Q 17 results and also the half-yearly distribution information for FLIT. So far so good. Continue to watch their next quarter' s financial performance. By the looks of things which are stable for them, next quarter they should do good as well.     chengwh1      ( Date: 05-May-2017 15:30) Posted: Reported at 6.45 am this morning :-   FLT exceeds Forecast by 6.7% with 1.75 Singapore Cents DPU for the Quarter ended 31 March 2017 *** Highlights  Distributable Income for the Quarter at A$25.1 million is 5.9% above Forecast(1)  Declared distribution of 3.49 Singapore cents for the six month period ended 31 March 2017, exceeding forecast by 6.4%(2)  Lower borrowing costs than Forecast(1)  13,111 sq m of new lease and lease renewals executed  High portfolio occupancy of 99.3% Singapore, 5 May 2017 &ndash Frasers Logistics & Industrial Asset Management Pte. Ltd. (" 星 狮 物 流 工 业 资 产 管 理 公 司 " ), the manager of Frasers Logistics & Industrial Trust (" 星 狮 物 流 工 业 信 托 " ) (" FLT" , and the manager of FLT, the " REIT Manager" ), is pleased to announce FLT&rsquo s results for the financial quarter ended 31 March 2017 (the " Quarter" ). REVIEW OF FINANCIAL PERFORMANCE FLT recorded gross revenue of A$40.9 million for the Quarter, 1.6% above the Forecast of A$40.3 million. Excluding straight lining rental adjustment, gross revenue was in line with Forecast. Actual property operating expenses was A$6.4 million, 2.3% below Forecast due mainly to an exemption for Absentee Landlord Tax Levy(4) by the Victorian State Government for the 2017 tax year, which was partially offset by provisions for repairs and maintenance costs incurred for some properties that had their leases extended and those undergoing leasing negotiations. As a result, Adjusted Net Property Income for the Quarter was marginally above Forecast at A$30.9 million. Distributable Income and DPU were A$25.1 million and 1.75 Singapore cents respectively, exceeding Forecasts by 5.9% and 6.7% respectively. The positive variances were mainly attributable to lower trust expenses and interest savings from a lower actual weighted average interest rate of 2.8%(5) per annum, compared to a forecast weighted average interest rate of 3.4%(5) per annum. Compared to the previous quarter ended 31 December 2016, FLT&rsquo s distributable income and DPU grew 0.7% and 0.6%, from A$24.9 million and 1.74 Singapore cents, to A$25.1 million and 1.75 Singapore cents. Mr. Robert Wallace, Chief Executive Officer of the REIT Manager, said, " We are heartened that FLT has achieved results ahead of Forecast for the third consecutive financial period. This was made possible on the back of interest cost savings, proactive leasing activities and the acquisition of the three call option properties in late 2016." PORTFOLIO UPDATE 13,111 square metres (" sq m" ) of new lease and lease renewals were completed in the Quarter, bringing total new leases and renewals executed since FLT&rsquo s listing to 113,956 sq m, or 9.3% of the total Portfolio GLA. Portfolio occupancy held firm at 99.3% as at 31 March 2017, with a WALE of 6.7 years and minimal lease expiries of 0.2% (by gross rental income) for the financial year ending 30 September 2017. FLT also has the largest industrial Green Star performance rated portfolio in Australia with 59 tenancies across 48 properties having achieved Green Star Performance ratings. The Green Star rating is provided by the Green Building Council of Australia (GBCA) which assesses properties against nine key performance criteria &ndash energy, water, transport, materials, indoor environment quality, management, land use & ecology, emissions and innovation. The total value of FLT&rsquo s portfolio was A$1.75 billion as at 31 March 2017. CAPITAL MANAGEMENT As at 31 March 2017, FLT&rsquo s aggregate leverage is 28.9%, providing FLT with available debt headroom for growth. Total borrowings stood at A$530 million, 79% of which are hedged. The weighted average interest rate for borrowings for the Quarter was 2.8% per annum. DISTRIBUTION DETAILS FLT has declared a distribution of 3.49 Singapore cents per Unit for the six-month period from 1 October 2016 to 31 March 2017, to be paid on 23 June 2017. The books closure date is 16 May 2017. Together with the distribution of 1.84 Singapore cents per Unit paid on 15 December 2016, FLT has to-date declared/paid total distributions amounting to 5.33 Singapore cents per Unit. FLT&rsquo s distribution policy is to distribute 100% of its distributable income to 30 September 2017, and at least 90% of its distributable income thereafter. FLT will make distributions to unitholders on a semi-annual basis for the six-month periods ending 31 March and 30 September. OUTLOOK Australian industrial property supply levels in 2017 are close to ten-year level highs, with development activity concentrated in Melbourne and Sydney. However, in contrast to the previous construction peak, a higher proportion of the new supply were pre-leased. Sydney remains the strongest leasing market with indications of rental growth. In Melbourne, industrial rents in the western region are essentially unchanged, whilst there has been some evidence of rental growth in the south-east region. Brisbane industrial rents remain under pressure. Institutional investors are continuing to expand their ownership of industrial assets (particularly within the logistics sector), which diminishes the availability of assets (particularly high-quality assets) for sale. The limited supply for prime grade industrial stock has resulted in firming of investment yields for secondary stock. " The eastern seaboard of Australia continues to show positive demand for industrial properties, driven by economic growth and healthy leasing activity. Interest rates also remain at historically low levels, fuelling investment demand. With a prime portfolio of 54 properties mostly concentrated in New South Wales, Victoria and Queensland, coupled with a solid pipeline of Sponsor-developed industrial assets, we remain confident in FLT&rsquo s ability to pursue long-term value for our unitholders," Mr. Wallace said. The REIT Manager currently expects FLT to at least meet the FY2017 DPU Forecast of 6.50 Singapore cents contained in the Prospectus barring any unforeseen circumstances.
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chengwh1 Elite	05-May-2017 15:30        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Reported at 6.45 am this morning :-   FLT exceeds Forecast by 6.7% with 1.75 Singapore Cents DPU for the Quarter ended 31 March 2017 *** Highlights  Distributable Income for the Quarter at A$25.1 million is 5.9% above Forecast(1)  Declared distribution of 3.49 Singapore cents for the six month period ended 31 March 2017, exceeding forecast by 6.4%(2)  Lower borrowing costs than Forecast(1)  13,111 sq m of new lease and lease renewals executed  High portfolio occupancy of 99.3% Singapore, 5 May 2017 &ndash Frasers Logistics & Industrial Asset Management Pte. Ltd. (" 星 狮 物 流 工 业 资 产 管 理 公 司 " ), the manager of Frasers Logistics & Industrial Trust (" 星 狮 物 流 工 业 信 托 " ) (" FLT" , and the manager of FLT, the " REIT Manager" ), is pleased to announce FLT&rsquo s results for the financial quarter ended 31 March 2017 (the " Quarter" ). REVIEW OF FINANCIAL PERFORMANCE FLT recorded gross revenue of A$40.9 million for the Quarter, 1.6% above the Forecast of A$40.3 million. Excluding straight lining rental adjustment, gross revenue was in line with Forecast. Actual property operating expenses was A$6.4 million, 2.3% below Forecast due mainly to an exemption for Absentee Landlord Tax Levy(4) by the Victorian State Government for the 2017 tax year, which was partially offset by provisions for repairs and maintenance costs incurred for some properties that had their leases extended and those undergoing leasing negotiations. As a result, Adjusted Net Property Income for the Quarter was marginally above Forecast at A$30.9 million. Distributable Income and DPU were A$25.1 million and 1.75 Singapore cents respectively, exceeding Forecasts by 5.9% and 6.7% respectively. The positive variances were mainly attributable to lower trust expenses and interest savings from a lower actual weighted average interest rate of 2.8%(5) per annum, compared to a forecast weighted average interest rate of 3.4%(5) per annum. Compared to the previous quarter ended 31 December 2016, FLT&rsquo s distributable income and DPU grew 0.7% and 0.6%, from A$24.9 million and 1.74 Singapore cents, to A$25.1 million and 1.75 Singapore cents. Mr. Robert Wallace, Chief Executive Officer of the REIT Manager, said, " We are heartened that FLT has achieved results ahead of Forecast for the third consecutive financial period. This was made possible on the back of interest cost savings, proactive leasing activities and the acquisition of the three call option properties in late 2016." PORTFOLIO UPDATE 13,111 square metres (" sq m" ) of new lease and lease renewals were completed in the Quarter, bringing total new leases and renewals executed since FLT&rsquo s listing to 113,956 sq m, or 9.3% of the total Portfolio GLA. Portfolio occupancy held firm at 99.3% as at 31 March 2017, with a WALE of 6.7 years and minimal lease expiries of 0.2% (by gross rental income) for the financial year ending 30 September 2017. FLT also has the largest industrial Green Star performance rated portfolio in Australia with 59 tenancies across 48 properties having achieved Green Star Performance ratings. The Green Star rating is provided by the Green Building Council of Australia (GBCA) which assesses properties against nine key performance criteria &ndash energy, water, transport, materials, indoor environment quality, management, land use & ecology, emissions and innovation. The total value of FLT&rsquo s portfolio was A$1.75 billion as at 31 March 2017. CAPITAL MANAGEMENT As at 31 March 2017, FLT&rsquo s aggregate leverage is 28.9%, providing FLT with available debt headroom for growth. Total borrowings stood at A$530 million, 79% of which are hedged. The weighted average interest rate for borrowings for the Quarter was 2.8% per annum. DISTRIBUTION DETAILS FLT has declared a distribution of 3.49 Singapore cents per Unit for the six-month period from 1 October 2016 to 31 March 2017, to be paid on 23 June 2017. The books closure date is 16 May 2017. Together with the distribution of 1.84 Singapore cents per Unit paid on 15 December 2016, FLT has to-date declared/paid total distributions amounting to 5.33 Singapore cents per Unit. FLT&rsquo s distribution policy is to distribute 100% of its distributable income to 30 September 2017, and at least 90% of its distributable income thereafter. FLT will make distributions to unitholders on a semi-annual basis for the six-month periods ending 31 March and 30 September. OUTLOOK Australian industrial property supply levels in 2017 are close to ten-year level highs, with development activity concentrated in Melbourne and Sydney. However, in contrast to the previous construction peak, a higher proportion of the new supply were pre-leased. Sydney remains the strongest leasing market with indications of rental growth. In Melbourne, industrial rents in the western region are essentially unchanged, whilst there has been some evidence of rental growth in the south-east region. Brisbane industrial rents remain under pressure. Institutional investors are continuing to expand their ownership of industrial assets (particularly within the logistics sector), which diminishes the availability of assets (particularly high-quality assets) for sale. The limited supply for prime grade industrial stock has resulted in firming of investment yields for secondary stock. " The eastern seaboard of Australia continues to show positive demand for industrial properties, driven by economic growth and healthy leasing activity. Interest rates also remain at historically low levels, fuelling investment demand. With a prime portfolio of 54 properties mostly concentrated in New South Wales, Victoria and Queensland, coupled with a solid pipeline of Sponsor-developed industrial assets, we remain confident in FLT&rsquo s ability to pursue long-term value for our unitholders," Mr. Wallace said. The REIT Manager currently expects FLT to at least meet the FY2017 DPU Forecast of 6.50 Singapore cents contained in the Prospectus barring any unforeseen circumstances.
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SimpleTrade Senior	26-Apr-2017 12:26        SimpleTrade About Contact  Quote this Post!
x 0   x 0  Alert Admin	Slowly creeping up. FYI, this trust distributes div bi-annually ( half year ) . Early May is their next distribution.
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