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MapleTreeLog

Rights issue coming.....

 

Mapletree Logistics Trust Management Ltd., as manager of Mapletree Logistics Trust, wishes to announce that a conditional trust beneficial interest sale and purchase agreement has been entered into with an unrelated third party vendor, for the proposed acquisition of the trust beneficial interest in Kuwana Logistics Centre   for a purchase consideration of JPY35,000 million (S$416.3 million)

The Manager intends to finance the Total Acquisition Cost through a combination of debt financing and the proceeds of an equity fund raising which may comprise a private placement of new Units to institutional and other investors and/or a non-renounceable preferential offering of new Units to the existing Unitholders on a pro rata basis . The final decision regarding the proportion of the debt and equity to be employed to fund the Japan Acquisition will be made by the Manager at the appropriate time, taking into account the then prevailing market  conditions to provide overall DPU accretion to Unitholders on a pro forma basis while maintaining an appropriate level of aggregate leverage.

The details and timing of the Equity Fund Raising have not been determined. The issue price of new Units under the Equity Fund Raising will be based on, among other things, relevant market conditions and demand for the new Units. Further details of the Equity Fund Raising will be announced by the Manager at the appropriate time.

 

 

corporate action - listing of student accomodation reit?
Waiting for the substabtial acquisition details, mentioned during Q3 report.

Lobster      ( Date: 15-Nov-2021 08:37) Posted: Heard, mega corporate development within the group.. otw, possibly by early next year. No insider news, just heard from cofffee lady.

 

Heard, mega corporate development within the group.. otw, possibly by early next year. No insider news, just heard from cofffee lady.

 

ready to move liao 

 

share price keep going down .. missing in action somehow

Lobster      ( Date: 06-Nov-2021 12:51) Posted: I think very few interested in this mighty MLT. That may change soon. Heard from coffee lady there is a mega corporate development going to happen as early as early next year within the Mapletree group that may or may not involve MLT. It might also involve a company outside. Please hor,Kelvin, I heard this from coffee shop uncles and coffee lady, no insiders tips.. Being in the logistics sector industry, the business of Mapletree Logistics Trust remains open across its various markets. Even though the resurgence of COVID-19 infections in recent months had led to extended lockdowns in various countries, the demand for the S-REIT&rsquo s warehouses has been resilient. The occupancy rates have stabilized at 97.8% in recent months, vis-à -vis a low of 97.1% in 2020. The steady business performances enabled Mapletree Logistics Trust share price (SX: M44U) to swiftly recovered from the market rout in March 2020.

 

I think very few interested in this mighty MLT. That may change soon. Heard from coffee lady there is a mega corporate development going to happen as early as early next year within the Mapletree group that may or may not involve MLT. It might also involve a company outside. Please hor,Kelvin, I heard this from coffee shop uncles and coffee lady, no insiders tips..

Being in the logistics sector industry, the business of Mapletree Logistics Trust remains open across its various markets. Even though the resurgence of COVID-19 infections in recent months had led to extended lockdowns in various countries, the demand for the S-REIT&rsquo s warehouses has been resilient. The occupancy rates have stabilized at 97.8% in recent months, vis-à -vis a low of 97.1% in 2020. The steady business performances enabled Mapletree Logistics Trust share price (SX: M44U) to swiftly recovered from the market rout in March 2020.

 

 

Wow! Power! Hope some people will post this

Mapletree Logistics Trust prices S$400m perps at 3.725% redeems 4.18% perps

 

 

 

Mapletree Logistics Trust posts Q2 DPU up 5.7% to S$0.02173 manager eyes ' substantial' acquisitions

THE manager of Mapletree Logistics Trust (MLT)  Mapletree Log Tr: M44U +0.51%  on Monday said total acquisition value for the FY21/22 ended March 2022 is expected to be &ldquo substantial&rdquo as the real estate investment trust (Reit) seeks to continue to fuel its growth.

&ldquo Last year, we did acquisitions of about S$1.6 billion. This year, hopefully, we can still do something around that range,&rdquo said Ng Kiat, chief executive officer of the manager, at a briefing following the release of its Q2 results after market close on Monday.

Apart from assets in China, Vietnam and Malaysia from its sponsor&rsquo s pipeline, Ng said the Reit is also looking to acquire properties in Japan, Australia and Korea.
&ldquo We are expecting a fairly large deal coming up from Japan,&rdquo Ng said. &ldquo We are in the process of hopefully closing a deal soon, over the next one month or so. That should be quite a nice property with a sizable gross floor area (GFA).&rdquo

Ng added that this Japan property acquisition is &ldquo larger than expected&rdquo and is expected to be &ldquo a good addition&rdquo to the MLT portfolio.

&ldquo In line with our strategy to strengthen our regional footprint, we have recently announced the proposed acquisitions of three modern logistics assets in Australia, Malaysia and South Korea. We will continue to focus on building up a quality portfolio and scaling up our network presence to capture opportunities in the logistics market,&rdquo she said.

 

At the same time, the manager said MLT is also looking to divest some of its smaller logistics properties with poorer specifications in the later part of this year or in the early part of next year.

MLT' s  financial performance for the second quarter to September had been boosted by contributions from accretive acquisitions completed in  FY20/21, higher revenue from existing properties and higher occupancy from a logistics park.

Mapletree Logistics Trust Management, MLT' s manager, reported on Oct 25 that the trust' s distributable income rose 19.2 per cent year-on-year to S$93.4 million in Q2.

Its distribution per unit (DPU) grew 5.7 per cent to 2.173 Singapore cents - payable on Dec 14 - despite having an enlarged unit base due to the equity fund raising completed in Q3  last year.

 

 

For Immediate Release
Mapletree Logistics Trust&rsquo s 2Q FY21/22 DPU Rises 5.7% Year-on-Year to 2.173 cents
Highlights:
 6-month FY21/22 DPU is also 5.7% higher at 4.334 cents
 Continuing, steady growth underpinned by organic growth and accretive acquisitions
 Healthy portfolio metrics &ndash 97.8% occupancy and 3.7 years WALE

Singapore, 25 October 2021 &ndash Mapletree Logistics Trust Management Ltd., as manager (the &ldquo Manager&rdquo ) of Mapletree Logistics Trust (&ldquo MLT&rdquo ), is pleased to announce that for the financial quarter ended 30 September 2021 (&ldquo 2Q FY21/22&rdquo ), MLT&rsquo s amount distributable to Unitholders rose 19.2% year-on-year to S$93.4 million, while distribution per Unit (&ldquo DPU&rdquo ) grew 5.7% to 2.173 cents, on an enlarged unit base due to the equity fund raising completed in 3Q FY20/21. ...
https://links.sgx.com/FileOpen/20211025-MLT_2QFY2122%20PR_final.ashx?App=Announcement& FileID=687927

 

Hmmm, not really. Funds raising soon. 🤔

Singpost      ( Date: 21-Oct-2021 11:39) Posted: is that a buy call ? Joelton      ( Date: 21-Oct-2021 09:17) Posted: Mapletree Logistics Trust to acquire facility in South Korea for 135b won MAPLETREE Logistics Trust (MLT) is acquiring a 2-year-old logistics facility in South Korea for 135 billion Korean won (S$153.8 million) to boost its strength in the e-commerce market.   The property, Yeoju Logistics Centre, spans over 70,400 square metres in total gross floor area and sits on 56,200 sq m of freehold land. It has 2 blocks of 3-storey dry warehouses and is fully leased to one of South Korea' s largest online fashion platforms and a domestic third-party logistics service provider.   " With a weighted average lease expiry (by net lettable area) of approximately 3.1 years and built-in annual rent escalations, the acquisition will provide MLT with a stable and growing income stream," the manager said.   MLT' s e-commerce revenue exposure in South Korea is expected to rise to 31 per cent from 24 per cent following the acquisition. The transaction is also estimated to generate a net property income yield of 4.2 per cent based on the property purchase price and is expected to be accretive to MLT' s distribution per unit.   The logistics facility is located in northern Yeoju, a newly established logistics hub with efficient access to 2 major expressways connected to Seoul. With the addition of the facility, MLT' s portfolio in the Seoul metropolitan area will be increased to 19 assets.   The acquisition is expected to be completed by end-2021. Assuming it is fully funded by debt, MLT' s aggregate gearing ratio will be 40.3 per cent.

 

is that a buy call ?

Joelton      ( Date: 21-Oct-2021 09:17) Posted: Mapletree Logistics Trust to acquire facility in South Korea for 135b won MAPLETREE Logistics Trust (MLT) is acquiring a 2-year-old logistics facility in South Korea for 135 billion Korean won (S$153.8 million) to boost its strength in the e-commerce market.   The property, Yeoju Logistics Centre, spans over 70,400 square metres in total gross floor area and sits on 56,200 sq m of freehold land. It has 2 blocks of 3-storey dry warehouses and is fully leased to one of South Korea' s largest online fashion platforms and a domestic third-party logistics service provider.   " With a weighted average lease expiry (by net lettable area) of approximately 3.1 years and built-in annual rent escalations, the acquisition will provide MLT with a stable and growing income stream," the manager said.   MLT' s e-commerce revenue exposure in South Korea is expected to rise to 31 per cent from 24 per cent following the acquisition. The transaction is also estimated to generate a net property income yield of 4.2 per cent based on the property purchase price and is expected to be accretive to MLT' s distribution per unit.   The logistics facility is located in northern Yeoju, a newly established logistics hub with efficient access to 2 major expressways connected to Seoul. With the addition of the facility, MLT' s portfolio in the Seoul metropolitan area will be increased to 19 assets.   The acquisition is expected to be completed by end-2021. Assuming it is fully funded by debt, MLT' s aggregate gearing ratio will be 40.3 per cent.

 

 

Interest rate is going to rise. Not good for REITs.

 

can buy now

tomorrow will rebound

turtletrader      ( Date: 05-Oct-2021 15:51) Posted: Ya, what happen to MLT? Quite a big drop today, abit tempted to buy some...

 

Ya, what happen to MLT? Quite a big drop today, abit tempted to buy some...

 

any news that caused price weakness ?   

 

Industrial S-REITs remain ' choice sector' top picks being A-REIT, FLCT and MLT

Industrial Singapore REITs (S-REITs) are now the plays for the " new economy" , write DBS Group Research analysts Dale Lai and Derek Tan in a sector report on Sept 23.

" Investors have often baulked at the industrial S-REITs' tight yields of [around] 5.7% (4.5% for large caps) but we believe that this premium is justified," say the analysts.

" With the sector' s earnings resilience proven during the Covid-19 recession and with economies re-opening, we believe that sector remains on a firm footing to deliver decent growth of more than 3% compound annual growth rate (CAGR) over FY2021-FY2023," they add.

In the report, Lai and Tan suggest that investors invest alongside structural growth trends within the new economy assets of logistics, data centres and business parks.

The mix, say Lai and Tan, will deliver both growth and capital upside.

Industrial REITs have been actively growing their portfolios in recent years, with over $6.7 billion announced and completed year-to-date (y-t-d), which now contribute close to 90% of assets.

During the onset of the Covid-19 pandemic in March 2020, yield spreads between large-cap and mid-cap industrial REITs peaked at 4.0%.

Since then, the sub-sector have mostly outperformed other sectors, with it being " the most defensive and least impacted by the pandemic" .

The way Lai and Tan see it, industrial REITs will deliver strong growth momentum from FY2022 onwards.

However, returns are looking " increasingly compressed" with competition from funds.

" In the past 10 years, we have seen dividend yields of industrial S-REITs compressing steadily. Between the beginning of 2011 and now, the most significant yield compression was experienced at the end of FY2017. In the first six years of the last decade, industrial S-REITs have been trading at an average yield of [around] 7.2%," note the analysts.

To this end, REITs' sponsors' pipeline and the ability to kick-start greenfield or brownfield developments will be an advantage to any REIT going forward.

" In our estimation, large-cap REITs have a potential pipeline of more than $7.8 billion they could tap on in the near future. Mid-cap REITs have a significantly smaller potential pipeline of $2.6 billion in realisable pipeline they could tap on. In our opinion, this is likely the key reason for the premium valuations of the large-cap industrial REITs," say the analysts.

Among the S-REITs, Lai and Tan have indicated their preference for Ascendas REIT (A-REIT), Frasers Logistics & Commercial Trust (FLCT) and Mapletree Logistics Trust (MLT).

" In the large-cap REITs space, we prefer FLCT and MLT for their growth potential and access to high-quality new economy assets that are increasingly becoming harder to come by," they write.

" We also like A-REIT for its diversified exposure to new economy asset plays, coupled with its attractive yields," they add.

To them, these REITs have a " continued access to pipelines that can potentially grow their assets under management (AUM) by 13% to 40%" .

" [Their] redevelopments to rejuvenate some of their ageing assets will offer added upside to net asset values (NAVs)," they write.

Selected mid-cap industrial REITs such as Ascendas India Trust, ARA LOGOS Logistics Trust (ALLT) and ESR-REIT could also benefit from their sponsors' pipeline with a lower cost of capital.

Ascendas India Trust has recently invested into a data centre development - deemed a " new economy asset class" - in Mumbai.

" With a surge in demand for data centre space globally, Ascendas India Trust' s entry into the data centre asset class at this opportune time will enable it to grow its portfolio quickly," write the analysts.

ALLT is another trust that could see " exponential growth" in its portfolio following its share price rally at the start of 2021.

" LOGOS has also been quick in demonstrating its commitment to ALLT since taking over as the REIT' s new Sponsor. Having addressed concerns of a lack of acquisition pipeline ALLT faced previously, we believe that it could be another mid-cap REIT to benefit from robust portfolio growth going forward," say Lai and Tan.

Finally, ESR-REIT' s improved share price, in addition to its sponsor' s remaining stake in the Australian property fund, could " pave the way for more accretive pipeline acquisitions in the future" .

" Moreover, with its sponsor being one of the largest logistics and industrial developers and fund managers in the region, this could provide ESR-REIT with a multitude of pipeline acquisitions in the future," say the analysts.

Among the mid-caps, Lai and Tan say they prefer ALLT and ESR-REIT " for their access to new economy assets from sponsor pipelines" .

Furthermore, both REITs have been included into the FTSE EPRA NAREIT Developed Asia Index on Sept 20, which could be a catalyst to support their " much-improved share prices" .

" With the improvement in their respective weighted average cost of capital (WACC), we believe that conditions are conducive for both REITs to embark on further accretive acquisitions to rival those of their large-cap peers. Moreover, any acquisitions will have an incrementally significant impact to their earnings given their smaller AUM," say Lai and Tan.

 

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