AIMS APAC Reit    Last:1.56    -0.01

AIMSAMPI Reit

A non event IMO, most of the people there are very capable people.

 

AIMS APAC REIT Management has appointed Russell Ng Keh Yang as CEO-designate after current CEO and Executive Director Koh Wee Lih submitted his resignation to pursue other professional interests, the manager of AIMS APAC REIT said in a filing to SGX Wednesday.

 

Say who?
in terms of % gains, ESR, ARA LOGOS, OUE Com R, all which also also included in  FTSE EPRA Global Real Estate Index, finished much higher than AIMS. One thing about AIMS, is that the majority of the shares are in the hands of the few. The rest are rather loyal shareholders keeping them mostly for the excellent consistent dividends yield. So, few sellers and few shortists, means the share price is rather stable. And when there' s good development, people who want to buy have to buy up. But do be wary, it can be a turtle stock, with a small range movement, if there' s no catalysts news on the stock.

vested. Pdyohwadfmb 
 

 

Last few days dropped from previous high of 1.56.
Today, morning go back to 1.56 then dropped back.
Afternoon, suddenly chiong and closed 1.60.
What' s up? Cannot be just because included in FTSE EPRA Nareit Global Real Estate Index bah.
Others included also bo chiong leh.

 

This is so far the best Reits I have vested, hold from 1.35 with solid dividends..hope to see further grow on this Reit.

Lobster      ( Date: 02-Sep-2021 18:07) Posted: Another star performer. Closed at its day' s high of $1.60, smashing its ATH. when it was hovering at around $1.55 to $1.59, people said it was quite high. I just have to tell you, with its handsome dividends, even at its ATHprice today, you will be getting 5.5 %yield if it maintains its consistent dpus. I can see a merge among either of the three - AIMS, ARA LOGOS, ESR - happening. but maybe out of the blue we may see Ascendas or Mapletree M& A one of them!  just like Arsenal were talking about buying Emerson Royal, sekali Spurs sneaked in from behind and acquired him! ​ vested. Pdyohwadfmb

 

Another star performer. Closed at its day' s high of $1.60, smashing its ATH.
when it was hovering at around $1.55 to $1.59, people said it was quite high.
I just have to tell you, with its handsome dividends, even at its ATHprice today, you will be getting 5.5 %yield if it maintains its consistent dpus.

I can see a merge among either of the three - AIMS, ARA LOGOS, ESR - happening.
but maybe out of the blue we may see Ascendas or Mapletree M& A one of them! 

just like Arsenal were talking about buying Emerson Royal, sekali Spurs sneaked in from behind and acquired him!

​ vested. Pdyohwadfmb 

 

Eleven of Singapore' s smaller Reits enter FTSE EPRA Nareit Global Real Estate Index

Eleven of Singapore' s smaller Reits have made it into the FTSE EPRA Nareit Global Real Estate Index series, according to the index series' quarterly review changes announced by FTSE Russell on Sept 1.

The entries into the FTSE EPRA Nareit Global Developed Index include AIMS APAC Reit, ARA Logos Logistics Trust, Cromwell European Reit, ESR-Reit, Far East Hospitality Trust, Keppel Pacific Oak US Reit, Lendlease Global Commercial Reit, OUE Commercial Reit, Prime US Reit, SPH Reit and Starhill Global Reit.

FTSE Russell noted that the increased number of additions this quarter was due to the updated thresholds for the Developed Asia series.

In June, the investable market cap threshold was lowered to 0.1 per cent of the securities' respective regional index for additions to the Developed Asia series, compared to 0.3 per cent previously. For deletions from the index series, the threshold was lowered to 0.05 per cent from 0.15 per cent.

The review may be subject to changes until the close of business on Sept 3, and all constituent changes will be applied after the close of business on Sept 17.

The index series, which tracks the performance of listed real estate companies and Reits, is a global benchmark jointly developed by FTSE Russell with the EPRA (European Public Real Estate Association) and the Nareit (National Association of Real Estate Investment Trusts).

Prior to the review, there were 17 Singapore Reits and property trusts in the FTSE EPRA Nareit Developed Index, according to the index' s factsheet as at July 30, 2021.

 

 

AIMS APAC REIT issues $250 mil subordinated perpetual securities with coupon of 5.375% p.a.

The manager of AIMS APAC REIT has priced $250 million worth of subordinated perpetual securities (or the Series 003 perpetual securities) on Sept 1.

The securities will be issued under the REIT' s $750 million multicurrency programme and will bear a coupon rate of 5.375% per annum.

The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch (HSBC), Oversea-Chinese Banking Corporation Limited (OCBC) and United Overseas Bank Limited (UOB) were the joint lead managers.

The REIT has already received approval in-principle from the SGX-ST for permission to deal in and the listing and quotation of the perpetual securities on the SGX-ST.

The perpetual securities will be admitted on the SGX-ST' s official list on Sept 2, at 9am.

Units in AIMS APAC REIT closed 1 cent lower or 0.65% down at $1.54 on Sept 1.

 

10 S-Reits yielding long-term annualised returns  based on 10 YEAR Annualised Total Returns  (%)
Mapletree Industrial Trust   10 Yrs ATR =   16.7 %
Mapletree Logistics Trust    10 Yrs ATR =  16 %
Mapletree Commercial Trust.  10 Yrs ATR =    15.8%
ParkwayLife Reit   10 Yrs ATR =  15%
Aims Apac Reit  10 Yrs ATR =  12.9%
Ascendas India Trust  10 Yrs ATR =  11.8%
Frasers Centrepoint Trust.  10 Yrs ATR =  10.8%
Ascendas Reit.    10 Yrs ATR =  10.4%
Ara Logos Logistics Trust      10 Yrs ATR =  8.0%
ESR-Reit.   10 Yrs ATR =    7.9%



 

 

I am surprised nobody posted these

10 S-Reits yielding long-term annualised returns

THE 10 best performing S-Reits and property trusts with over a 10-year listing history have averaged 12.5 per cent in 10-year annualised total returns. On an absolute basis across the 10-year period, these 10 trusts have generated total returns averaging 240 per cent as Reits continue to be an asset class of choice for the longer horizon.

Comparatively, the 10 have also outperformed major Asia-Pacific Reit markets which have yielded 10.3 per cent in average total returns for the same period.

Of the 10, the top five trusts Mapletree Industrial Trust  Mapletree Ind Tr: ME8U -0.68%  , Mapletree Logistics Trust  Mapletree Log Tr: M44U -0.98%  , Mapletree Commercial Trust  Mapletree Com Tr: N2IU -2.4%  , ParkwayLife Reit  ParkwayLife Reit: C2PU -1.22%  and Aims Apac Reit  AIMS APAC Reit: O5RU -0.64%  , were also among Asia-Pacific' s 20 best performing Reits with a longer trading history.

Three of these are S-Reits sponsored by Mapletree Investments, which owns and manages over S$66 billion of data centre, industrial, lodging, logistics, mixed-use, multifamily, office, residential and retail properties.

Mapletree Industrial Trust (MINT) listed in October 2010 with an initial investment portfolio of 70 Singapore industrial properties valued at S$2.1 billion including business parks, flatted factories, stack-up/ramp-up buildings and light industrial buildings.
Today, the trust has tripled in portfolio with assets under management of S$6.7 billion across 114 properties in Singapore and North America. In terms of asset mix, MINT has also diversified with acquisitions into high-tech buildings and data centres making up 20.9 per cent and 39.8 per cent respectively. Its latest acquisition of 29 data centres in the United States makes it one of the largest owners of data centres among Asia-Pacific Reits.

Mapletree Logistics Trust (MLT) was one of the first Mapletree Group S-Reits to be listed in July 2005 and was the first Asia-focused logistics Reit. Its portfolio of properties has swelled from 15 properties worth S$422 million to 163 properties worth S$10.7 billion across nine countries in the Asia-Pacific.

MLT now has a diversified tenant base of 752 customers with close to 75 per cent of its portfolio serving consumer-related sectors.

Mapletree Commercial Trust (MCT) listed in April 2011 with three properties located in Singapore valued at S$2.8 billion. Its enlarged portfolio value has since trebled and comprises five Singapore properties worth S$8.7 billion.

ParkwayLife Reit (PLife) listed in August 2007 with just three properties in Singapore - Mount Elizabeth Hospital, Gleneagles Hospital and East Shore Hospital with a combined value of S$775 million. Fourteen years on, it has almost trebled its portfolio value at S$1.99 billion across 53 properties in Singapore, Japan and Malaysia and considers itself to be one of the largest listed healthcare Reits in Asia.

PLife recently completed its third strategic recycling initiative with a divestment of a non-core asset and acquired two nursing homes in Japan, increasing its geographical coverage and further diversification of age-care tenants.

Some may remember Aims Apac Reit as MacarthurCook Industrial Reit which listed in April 2007 with a portfolio of 12 industrial properties in Singapore valued at S$316 million.

The Reit has since rebranded itself in 2019 and has grown over five times in size with a portfolio value of S$1.7 billion across 28 properties in Singapore and Australia.

Its tenant base of 188 tenants has also diversified across the years, and include resilient sectors such as logistics and warehouses, bio-medical and life science, telecommunications and data centre operators accounting for seven out of its top 10 tenants. SGX RES

 

 

 

 

Feels like a lousy rate to me at 5.375%.

Borrowings are about 3%

 

AIMS APAC Reit proposes issue of S$250m perpetual securities at 5.375%

AIMS APAC Reit has priced S$250 million in perpetual securities at 5.375 per cent per annum, the manager of the real estate investment trust (Reit) said in a bourse filing on Monday night.

The perpetual securities will bear an initial distribution rate of 5.375 per cent per annum and a re-offer yield of 5.375 per cent, according to a term sheet seen by The Business Times.

The distribution rate will first reset on Sept 1, 2026 it will subsequently reset every five years thereafter based on the prevailing five-year Singapore overnight-rate average plus the initial spread of 4.654 per cent.

Deal statistics showed an orderbook of S$450 million across 31 accounts, with 99 per cent of investors from Singapore and 1 per cent from overseas. Some 51 per cent of the overall orderbook came from private banks, with the remaining 49 per cent from fund managers and banks.

The perpetual securities, issued under the Reit' s S$750 million multicurrency debt issuance programme, can be redeemed on Sept 1, 2026, and on every distribution payment date thereafter, at par.

Net proceeds from the offering will be used to finance the general working capital, capital expenditure and investments of the Reit and its subsidiaries, as well as the partial or full refinancing of existing borrowings.

Payment of the distribution will be made semi-annually in arrear on March 1 and Sept 1 of each year.

The Reit' s manager said it expects the perpetual securities will be issued on Sept 1, 2021.

DBS Bank, HSBC' s Singapore Branch, OCBC Bank and UOB are the joint lead managers for the offering of the perpetual securities.

Units of AIMS APAC Reit were trading at S$1.51 as at 2.42pm on Tuesday, up S$0.01 or 0.7 per cent.

 

 

DBS downgrades AIMS APAC REIT to ' hold' till next acquisition

DBS Group Research analysts Dale Lai and Derek Tan have downgraded AIMS APAC REIT to " hold" from " buy" on valuations.

The move comes despite the REIT' s higher distribution per unit (DPU) of 2.25 cents reported for the 1QFY2022 ended June.

" We believe that positives are priced in at current forward yields of 6.0%, P/NAV of 1.16x, which is more than + 1 standard deviation (s.d.) on its historical range," write the analysts in a July 29 report.

While the analysts have kept their target price estimate of $1.60 on the REIT, they have lowered their estimates for the REIT' s FY2022 DPU by 5.5% due to the delay in the completion of the 315 Alexandra Road acquisition.

" This means that the property is projected to only contribute two quarters of income in FY2022 as compared to previous estimates for four quarters of contribution. The full impact from this acquisition will only be seen in FY2023, generating a forward DPU yield of more than 6.4%," they write.

" Our target price of S$1.60 is based on discounted cash flow (DCF). Our assumed discount rate is 6.5% (risk-free rate of 2.5%). Our target price implies a target yield of 5.8% (FY2022) and a price-to-net asset value (P/NAV) of 1.19 times," they add.

Lai and Tan say they are looking forward to the next accretive acquisition made by the REIT, where they believe the next deal may come " in the form of a business park asset in Australia, similar to the type of asset on its books" .

" We believe AA REIT continues to be on the lookout for its next acquisition but given the lack of visibility and the compressed cap rate environment, the REIT needs to be highly selective."

The analysts add that they may upgrade their recommendation as well as estimates on the REIT should it execute on any potential acquisitions moving forward.

That said, they acknowledge that their estimates are more conservative compared to the rest of the brokerages as they assume that rental reversions will remain flat in FY2022.

As at 1.03pm, units in AA REIT are trading 1 cent higher or 0.6% up at $1.59 or 1.1 times P/NAV, according to DBS' s estimates.

 

 

Industrial S-Reits confident on resiliency

Despite challenges in the global economy brought about by the Covid-19 pandemic over the past 18 months, Industrial Reits, among Reit sub-segments, have remained one of more resilient and relatively sheltered Reit sectors.

Globally in 2020, Industrial Reits were the second best performing after Specialised Reits, having generated 8.9 per cent median total returns. This segment' s resilient performance was seen in the year to date with 17.9 per cent median total returns and was among the top three best performing Reit sub-segments.

In Singapore, Industrial S-Reits were also one of the best performing sub-segments after Specialised and Healthcare S-Reits in 2020 and in the year to date.

Industrial S-Reits returned 20.9 per cent on average in the year-to-date. The five with highest returns in the year to date are ARA Logos Logistics Trust (K2LU - 49.9 per cent), Aims Apac Reit (O5RU - 40.3 per cent), EC World Reit (BWCU - 34.8 per cent), Sabana Reit (M1GU - 25.5 per cent), and ESR-Reit (J91U - 24.0 per cent).

There are eight Industrial S-Reits listed in Singapore with a combined market capitalisation of S$33 billion, forming the second largest sub-segment of the local Reit market by market capitalisation.

The sub-sector' s resilience may be due to its nature where property is tenanted to light industrial production, manufacturing, distribution and storage, business parks and other businesses.

E-commerce, transportation and logistics, and work-from-home are some trends that continue to remain in play in the pandemic. Industrial S-Reits have attracted over S$315 million in net retail investor fund inflows in the year-to-date.

Aims Apac Reit' s gross revenue and NPI grew 16.8 per cent and 23.9 per cent year on year respectively in Q1 FY2022, mainly contributed by its recently acquired property at 7 Bulim Street, and higher rentals from two other properties. The Reit noted that its asset and tenant diversity has served it well during the quarter and has observed high resiliency across its portfolio which has placed them well in lease renewal negotiations.

 

 

 

Aims result will be fine if include 315 Alexandra road acquisitions...wonder when will jtc approve it

pkli899      ( Date: 28-Jul-2021 16:04) Posted: Thank you for pointing out the reason for discrepancy in our DPU' s data. Once off revaluation gain aside, we can expect to see net income improving. Contribution from the newly acquired Bulim property  should helps. Acquisition of 315 Alexandra Road in Jan 21 at 105 m not completed? To date, JTC still didn' t give approval. Why? Once this property starts generating revenue, we will see further increase in net income. Rokawa      ( Date: 28-Jul-2021 13:59) Posted: One is using aims' financial year calendar which is Apr to Mar. Another is probably using normal calendar Jan-Dec. i think. Im not very familar with the joint venture thing on why previous quarter (Jan21-Mar21)  received more income than this quarter and every other previous quarters. The share of profits of joint venture (net of tax) comprised the contribution from the Group&rsquo s 49.0% interest in Optus Centre. The share of profits of joint venture (net of tax) in 4Q FY2021 included the share of revaluation surplus of S$20.7 million recognised from the valuation of Optus Centre mainly attributed to the compression of discount rate and terminal yield assumption adopted by the independent valuer. The decrease in share of profits of joint venture (net of tax) in FY2021 was mainly due to the lower share of revaluation surplus of S$21.7 million (FY2020: S$48.0 million) recognised from the valuation of Optus Centre. The independent valuation of Optus Centre was carried out by Jones Lang LaSalle Advisory Services Pty Ltd and the property was valued at A$660 million, equivalent to approximately S$675.4 million (31 March 2020: A$584.0 million, equivalent to approximately S$509.8 million) So this eh revaluation? contribute 24m income for Jan21-Mar21? Cause Apr21-Jun21 it is back to 3m+ as per usual. so if 3m+ is normal then it will be roughly 2.25 cents going forward each quarter?

 

Ah thanks.
thats why the dividends was lower than expected. Estimated additional 0.48 cents per unit missing in action due to Sime Darby Business Centre.

pkli899      ( Date: 28-Jul-2021 16:04) Posted: Thank you for pointing out the reason for discrepancy in our DPU' s data. Once off revaluation gain aside, we can expect to see net income improving. Contribution from the newly acquired Bulim property  should helps. Acquisition of 315 Alexandra Road in Jan 21 at 105 m not completed? To date, JTC still didn' t give approval. Why? Once this property starts generating revenue, we will see further increase in net income. Rokawa      ( Date: 28-Jul-2021 13:59) Posted: One is using aims' financial year calendar which is Apr to Mar. Another is probably using normal calendar Jan-Dec. i think. Im not very familar with the joint venture thing on why previous quarter (Jan21-Mar21)  received more income than this quarter and every other previous quarters. The share of profits of joint venture (net of tax) comprised the contribution from the Group&rsquo s 49.0% interest in Optus Centre. The share of profits of joint venture (net of tax) in 4Q FY2021 included the share of revaluation surplus of S$20.7 million recognised from the valuation of Optus Centre mainly attributed to the compression of discount rate and terminal yield assumption adopted by the independent valuer. The decrease in share of profits of joint venture (net of tax) in FY2021 was mainly due to the lower share of revaluation surplus of S$21.7 million (FY2020: S$48.0 million) recognised from the valuation of Optus Centre. The independent valuation of Optus Centre was carried out by Jones Lang LaSalle Advisory Services Pty Ltd and the property was valued at A$660 million, equivalent to approximately S$675.4 million (31 March 2020: A$584.0 million, equivalent to approximately S$509.8 million) So this eh revaluation? contribute 24m income for Jan21-Mar21? Cause Apr21-Jun21 it is back to 3m+ as per usual. so if 3m+ is normal then it will be roughly 2.25 cents going forward each quarter?

 

Thank you for pointing out the reason for discrepancy in our DPU' s data.
Once off revaluation gain aside, we can expect to see net income improving.
Contribution from the newly acquired Bulim property  should helps.
Acquisition of 315 Alexandra Road in Jan 21 at 105 m not completed?
To date, JTC still didn' t give approval. Why?
Once this property starts generating revenue, we will see further increase in net income.

Rokawa      ( Date: 28-Jul-2021 13:59) Posted: One is using aims' financial year calendar which is Apr to Mar. Another is probably using normal calendar Jan-Dec. i think. Im not very familar with the joint venture thing on why previous quarter (Jan21-Mar21)  received more income than this quarter and every other previous quarters. The share of profits of joint venture (net of tax) comprised the contribution from the Group&rsquo s 49.0% interest in Optus Centre. The share of profits of joint venture (net of tax) in 4Q FY2021 included the share of revaluation surplus of S$20.7 million recognised from the valuation of Optus Centre mainly attributed to the compression of discount rate and terminal yield assumption adopted by the independent valuer. The decrease in share of profits of joint venture (net of tax) in FY2021 was mainly due to the lower share of revaluation surplus of S$21.7 million (FY2020: S$48.0 million) recognised from the valuation of Optus Centre. The independent valuation of Optus Centre was carried out by Jones Lang LaSalle Advisory Services Pty Ltd and the property was valued at A$660 million, equivalent to approximately S$675.4 million (31 March 2020: A$584.0 million, equivalent to approximately S$509.8 million) So this eh revaluation? contribute 24m income for Jan21-Mar21? Cause Apr21-Jun21 it is back to 3m+ as per usual. so if 3m+ is normal then it will be roughly 2.25 cents going forward each quarter?

 

One is using aims' financial year calendar which is Apr to Mar.
Another is probably using normal calendar Jan-Dec. i think.

Im not very familar with the joint venture thing on why previous quarter (Jan21-Mar21)  received more income than this quarter and every other previous quarters.

The share of profits of joint venture (net of tax) comprised the contribution from the Group&rsquo s 49.0% interest in Optus Centre. The share of profits of joint venture (net of tax) in 4Q FY2021 included the share of revaluation surplus of S$20.7 million recognised from the valuation of Optus Centre mainly attributed to the compression of discount rate and terminal yield assumption adopted by the independent valuer. The decrease in share of profits of joint venture (net of tax) in FY2021 was mainly due to the lower share of revaluation surplus of S$21.7 million (FY2020: S$48.0 million) recognised from the valuation of Optus Centre. The independent valuation of Optus Centre was carried out by Jones Lang LaSalle Advisory Services Pty Ltd and the property was valued at A$660 million, equivalent to approximately S$675.4 million (31 March 2020: A$584.0 million, equivalent to approximately S$509.8 million)

So this eh revaluation? contribute 24m income for Jan21-Mar21?
Cause Apr21-Jun21 it is back to 3m+ as per usual.

so if 3m+ is normal then it will be roughly 2.25 cents going forward each quarter?