Mapletree Logistics Trust *Official* (SGX: M44U)

[Alphidius]

This thread is for Mapletree Quartet Family discussion.
Mapletree Logistics Trust, Industrial Trust, Commercial Trust and Greater China Commertcial Trust.

Mapletree Logistics Trust (MLT)
Current Price: $0.915 (Last Trading Day)
Projected DPU: $0.060 (Based on FY2011 Q1 DPU)
Estimated Yield: 6.5% (Proj. DPU/Cur Price)
Gearing: 37.7% (Dec 2010)
NAV per Unit: $0.810 (Mar 2011, non-adjusted)

Mapletree Industrial Trust (MIT)
Current Price: $1.05 (Last Trading Day)
Projected DPU: $0.071 (From Prospectus)
Estimated Yield: 6.7% (Proj. DPU/Cur Price)
Gearing: 41.7% (Dec 2010)
NAV per Unit: $0.870 (Dec 2010, non-adjusted)

Mapletree Commercial Trust (MCT)
Current Price: $0.880 (IPO Price)
Projected DPU: $0.04977 (From Prospectus)
Estimated Yield: 5.6% (Proj. DPU/Cur Price)
Gearing: 39% (Prospectus)
NAV per Unit: $0.910 (Prospectus)

 

[WindBoi]

i see. another dumping on stupid investors time.

 

[itedino]

Mapletree already problem. Still want to lure investor money. STOP That la. I wun buy mapletree again. IF this 2 IPO surely wun climb one. Rangign at 24cents each for both counter. Useless counter. I rather concentrade on others.

 

[WindBoi]

Mapletree already problem. Still want to lure investor money. STOP That la. I wun buy mapletree again. IF this 2 IPO surely wun climb one. Rangign at 24cents each for both counter. Useless counter. I rather concentrade on others.

the problem is not mapletree and you might be surpise at some upside in 3 months time.

the problem is that when every one is reiting, which are the prime industrial properties?

 

[Alphidius]

I don't know about the rest but I think Mapletree CommTrust portfolio might consist of Vivocity, the nearby St. James area & Merill Lynch HarbourFront, these properties sound pretty kaching to me.

The Mapletree IndustrialTrust will probably contain the newly built Mapletree Business City, not far from Vivo. I travel up and down Telok Blangah & Pasir Panjang road often so I see the traffic, the shops & businesses for my own eyes. I expect Business City to pick up once the Downtown Line: Labrador Park station opens in 2012.

Again, my 2.14 cents (include GST)

 

[itedino]

Den Mapletreelog left with an empty shell. hahaha. If vivo under maple commercial trust.

 

[WindBoi]

Den Mapletreelog left with an empty shell. hahaha. If vivo under maple commercial trust.

mapletreelog is a logistic trust. why inject a commercial/retail property? and why will it be empty since it has so much property already?

 

[Alphidius]

Den Mapletreelog left with an empty shell. hahaha. If vivo under maple commercial trust.

Bro... Mapletree Logistics Trust only contain logistics related properties!
Here's the full list of Singapore properties under Mapletree Logistics Trust portfolio: MapletreeLog
They have so many properties inside there enough to choke a whale but Vivo is confirm plus chop not one of them.

The launch of Mapletree Commercial Trust is to introduce shopping malls, commercial hubs & office centers into the picture.
Basically, Vivo and the surrounding commercial area will be their portfolio.
Mapletree Industrial Trust will introduce their new MT Business City as the core but leaves more to be desired.
Until they announce their portfolio for MT IndTrust, I'm staying on the sidelines.

 

[itedino]

I also know. I mean the most earning is vivo. So nvm just keep your Mapletree log tight for dividend k;

 

[Alphidius]

I also know. I mean the most earning is vivo. So nvm just keep your Mapletree log tight for dividend k;

I'm not vested into MapletreeLog...
You know what they say about making assumptions...

 

[Yorixz]

Decent investment trust giving decent returns..Worth vesting..

 

[Paul Lee]

The launch of Mapletree Commercial Trust is to introduce shopping malls, commercial hubs & office centers into the picture.
Basically, Vivo and the surrounding commercial area will be their portfolio.
Mapletree Industrial Trust will introduce their new MT Business City as the core but leaves more to be desired.
Until they announce their portfolio for MT IndTrust, I'm staying on the sidelines.

This is a classic example of how a corporate identity can caused confusion and mayhem.

But I am a Mapletree fan. I think the management is damn good and they have delivered. At least as far as Mapleetree Log is concerned. So while the usual clavier of not falling in love with a stock (or company) applies when it comes to investment, I am of the opinion that the 2 upcoming trust are quality assets.

Of cos some people will perceive it as asset dumping by the parent company, that is completely their prerogative. We all have our own personal bias when it comes to investing. I would gladly investing my money on such a 'dumping ground' compared to questionable investments like land banking (profitable plot anyone?) or fine wine investment or ostrich farms or other much more questionable investment vehicle.

The Mapletree Industrial REITs will include the assets Mapletree purchased from JTC last year. Been waiting a long time for these properties to be listed. Now suddenly got inspiration to parody a song by Foreigner 'I've been waiting for a REIT like you'.

 

[Alphidius]

This is a classic example of how a corporate identity can caused confusion and mayhem.

But I am a Mapletree fan. I think the management is damn good and they have delivered. At least as far as Mapleetree Log is concerned. So while the usual clavier of not falling in love with a stock (or company) applies when it comes to investment, I am of the opinion that the 2 upcoming trust are quality assets.

Of cos some people will perceive it as asset dumping by the parent company, that is completely their prerogative. We all have our own personal bias when it comes to investing. I would gladly investing my money on such a 'dumping ground' compared to questionable investments like land banking (profitable plot anyone?) or fine wine investment or ostrich farms or other much more questionable investment vehicle.

The Mapletree Industrial REITs will include the assets Mapletree purchased from JTC last year. Been waiting a long time for these properties to be listed. Now suddenly got inspiration to parody a song by Foreigner 'I've been waiting for a REIT like you'.

Actually, there is nothing wrong with relating corporate identity with their management style.
I'm on the sidelines just because I have no idea what the portfolio might contain.
If Mapletree IndTrust is going to contain assets from JTC and BusinessCity, then it sounds like a pretty decent portfolio.
But I'm definitely sold on Mapletree CommTrust!

My 2.14 cents

 

[itedino]

Good luck to you!

 

[Alphidius]

SINGAPORE, Sept 29 (Reuters) - Mapletree Industrial Trust, a property trust linked to Temasek [TEM.UL], is set to raise as much as S$940 million ($710 million) from its IPO in Singapore after it set a price range of S$0.88-S$0.93 a unit.

The trust, which owns factories and other industrial properties in the city-state, is selling 594.9 million units with an option to increase the offer by another 91.75 million units, according to a draft prospectus.

Cornerstone investors including insurers AIA and Prudential (PRU.L), UK fund manager Henderson (HGGH.L) and U.S. hedge fund D.E. Shaw will subscribe for another 322.6 million units.

The price range implies an annualised yield of 7.6-8.0 percent, according to the term sheet obtained by Reuters.

Mapletree Industrial will be managed by Mapletree Investments, a real estate company owned by Singapore state investor Temasek that already manages two other real estate investment trusts -- Mapletree Logistics (MAPL.SI) and Lippo- Mapletree Indonesia Retail Trust (LMRT.SI).

Mapletree Industrial will begin roadshows on Sept 30 and pricing of the offer is expected to take place on Oct 8. The shares will likely begin trading on Oct 21.

The Mapletree Industrial IPO clashes with an ongoing share offer by Global Logistic Properties, a unit of Singapore's other sovereign wealth fund GIC, which is seeking to raise as much as $2.95 billion. [ID:nSGE68Q0LT]

DBS (DBSM.SI), Citigroup (C.N), Goldman Sachs (GS.N) and Standard Chartered (STAN.L) are bookrunners, issue managers and underwriters for the Mapletree Industrial IPO.

DBS and Citi are also involved in GIC's IPO alongside JPMorgan (JPM.N), UBS (UBSN.VX) and CICC. (Writing by Kevin Lim, editing by Raju Gopalakrishnan)

Comments?

PS: Anyone has the Prospectus?

Source: Reuters

 

[addict951]

Sibei luan leh

The current Maple and this up and coming Maple Ind
Got what difference?
Long zhong warehouses and factories also wad

Somemore now Temasek going to throw out this Global Log
wah piang
jitao Temasek IPO fatigue

 

[addict951]

Vivo is good but that St Jame PS, sibei dubious. Money-losing business under Dennis

 

[Paul Lee]

Only the preliminary prospecteus is out. Link here

I made a rough calculation of the DPU for FY10 (up to Mar 2011) and FY 11 as follows:

FY 10: 7.04c (annualised)
FY 11: 7.48c

Pls note that FY11 DPU is annualised from the listing date to Mar 2011. According to the preliminary prospectus, the DPU is 3.1c.

The DPU is derived from the estimated yield of 8% annualised and 8.5% for FY10 and FY11 based on the mininmum price of 88c.

 

[Paul Lee]

Addict, you are getting all your facts mixed up.

The IPO portfolio from Mapletree Industrial Trust (MIT) is largely made up of the industrial properties which Mapltree bought from JTC around 2 years back. It is largely made up of flatted factories, with some ramp-up buildings, business park and 1 warehouse. I believe the focus of this trust would be more Spore-centric.

Mapletree Log on the other hand is now a pan-asian industrial reits with properties in many other countries.

Global Logistics Properties is associated with GIC not Temersek (granted both are ownen by the Spore govt but there are 2 different legal entities)

Vivo and St James are not part of MIT but will likely be part of another REITs to be launched by Mapletree. Regardless of whether St James is dubious or not (which I disagree), Mapletree as a landlord will continue to receive rents from Dennis & co.

I have faith in the Mapletree management. I think MIT is going to be a blockbuster of a REIT. For the moment, I would even rate it higher that Mapletree Log.

 

[The_Davis]

so when can we go ballot for the IPO?