Starhill Global REIT 3Q2017/18 Results Is Disappointing

Starhill Global REIT Logo

On 26 April 2018, Starhill Global REIT has released a set of disappointing 3QFY17/FY18 results. Gross Revenue, Net Property Income (“NPI”), Distributable Income and Distribution Per Unit (“DPU”) has all declined.

Despite the fact that distributable income has declined by 6.3%, the manager retained $1.6 million for working capital purposes, worsening the income to be distributed to unit holders. Distribution Per Unit (“DPU”) fell by 7.6%. This was unexpected of a Retail/Office REIT.
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CapitaLand Mall Trust 1Q2018 Financial Results and Divestment of Sembawang Shopping Mall

CapitaLand Mall Trust, Singapore’s first and largest retail REIT has recently announced a decent set of 1Q2018 financial results. I shall not dwell too much into its financial results as you can judge them yourself based on the results below but all I can say is that I am happy to see Distribution Per Unit (“DPU”) increase by 1.8%.

CapitaLand Mall Trust currently makes up 12% of my stock portfolio and I am excited to receive higher dividends quarter on quarter.

1Q2018
(S$’000)
1Q2017
(S$’000)
Change
Gross Revenue 175,164 172,023 1.8%
Net Property Income 125,651 120,060 4.7%
Distributable Income 98,963 96,973 2.1%
Distribution Per Unit (“DPU”) (cents) 2.78 2.73 1.8%

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Kingsmen Creatives Awarded Contracts Worth $22 Million

On 13th April 2018, I receive an email notification about Kingsmen Creatives that they have been awarded with contracts worth $22 million for National Day Parade 2018 and National History Event. Despite the good news, it seems that the market did not react positively. As you can see from the chart above, the stock price of Kingsmen Creatives remains flat below 60 cents. The stock market is really irrational.

According to the announcement, the contracts comprise the National Day Parade 2018 and the National History Event valued at S$3 million and S$19 million respectively. The contract for the National Day
Parade 2018 involves the build and fabrication of the temporary stage set infrastructure and supporting structures at The Float @ Marina Bay and is expected to be completed by 2018. Read More