Captaland Ascott Trust (former Ascott Residence Trust)

Re: Ascott Residence Trust

Postby winston » Thu Mar 04, 2010 8:26 pm

Not vested. From OCBC:-

Why Ascott Residence Trust?

We expect a pick-up in RevPAU in three of ART's major markets - Singapore, China and Australia - this year itself.

ART is likely to enjoy strong earnings recovery over 2010 and 2011 on the back of increasing business confidence and a revival of corporate travel.

The recent acquisitions announced by peer CDREIT indicates scope for distressed or at least stressed acquisitions in the hospitality space. With the easing of credit conditions and the re-rating of equity markets versus a year ago, we believe ART could make an accretive purchase using a combination of both debt and equity (potentially improving free float).
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Ascott Residence Trust

Postby Blackjack » Thu Mar 04, 2010 9:28 pm

Its always the same few points bandied around whether its a buy or sell call... In fact now that it has increasing outperform coverage I'm starting to think the upside is almost gone
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Singapore - Reits Quarterly Results Release

Postby sreitinvestor » Sun May 02, 2010 7:09 am

First quarter 2010 results for Ascott Reit:

Key Points

* DPU of 1.66 cents for the quarter.
* Unitholders' distribution is S$10.3 million.
* The Reit achieved revenue of S$43.5 million and gross profit of S$20.1 million for the period January to 31 March 2010, which are respectively 3 percent and 1 percent higher than the same period last year.
* Increase in revenue is mainly led by better performance in Philippines, Singapore and China, with revenue per available unit (RevPAU) growth of 8 percent, 7 percent and 1 percent respectively in 1Q 2010 compared to 1Q 2009.
* The Reit has accelerated asset enhancement initiatives to enhance the long term returns of selected properties in Singapore, China and Vietnam.


http://sreitinvestor.blogspot.com/2010/ ... -2010.html
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Re: Ascott Residence Trust

Postby winston » Wed Jun 16, 2010 7:04 pm

Not vested. From Kim Eng:-

Ascott Residence Trust (ART SP) – Wind beneath its wings

The grand opening of Marina Bay Sands on 23 June and the upcoming release of May visitor arrival numbers
are potential catalyst for hospitality plays, in our view. Ascott Residence Trust (ART) should benefit from the
increase in global travel and strong visitor arrivals in Singapore. 

Separately, acquisitions in Vietnam are on the cards. The 206 unit Somerset Hoa Binh in Hanoi could be
injected into ART in the next 12 months.
 
ART will announce its 2Q10 results in July. We believe this could be a key share price catalyst. 

We maintain our BUY recommendation on valuation, based on a forward yield of 7% and total return of 28%.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Second quarter 2010 results for Ascott Reit

Postby sreitinvestor » Sat Jul 24, 2010 8:26 am

Second quarter 2010 results for Ascott Reit:
Key Points
* Ascott Reit achieved a unitholders’ distribution of S$11.6 million for the period 1 April to 30 June 2010, 5% higher than the same period last year.
* DPU in the second quarter increased by 4% to 1.87 cents.
* Unitholders’ distribution and DPU for the period 1 January to 30 June 2010 are S$21.8 million and 3.53 cents respectively.
* The book closure date is Monday, 2 August 2010 and the distribution payment date is Friday, 27 August 2010.
* Independent valuations of the Group’s portfolio were conducted as at 30
June 2010. The portfolio was revalued at S$1.56 billion, an increase of
S$31.7 million, or 2% compared to its last valuation on 31 December 2009.
* Ascott Reit’s net asset value (NAV) per unit as at 30 June 2010 is S$1.38.


http://sreitinvestor.blogspot.com/p/dat ... lease.html
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Re: Ascott Residence Trust

Postby winston » Wed Oct 13, 2010 8:23 am

Not vested. From OCBC:-

Ascott Residence Trust: Size does matter; maintain BUY

Summary: With the acquisition of 28 properties from its sponsor, The Ascott Limited, ART will transform from a Pan-Asian to an International REIT, doubling its total asset size to almost S$2.85b and moving from 12th to the 6th largest S-REIT in terms of total asset value.

Its enlarged portfolio now constitutes 55% Pan-Asian and 45% European assets. We view ART’s massive scale-up positively, but do have some lingering concerns over its existing foreign-exchange management given the forthcoming influx of European currencies into the portfolio.

Without an ongoing active currency-hedging strategy, ART may be vulnerable to the long-standing contest between the East-West currencies pairs, especially with the ongoing monetization of debt by the US, the debt-crisis & fiscal-austerity measures in Europe and the push for Renminbi appreciation & Japanese Yen depreciation in Asia.

Nonetheless, we are positive on the outlook for the tourism and hospitality sector and believe that the demand should spill over to the service apartments. The strong GDP growth and FDI expansion in Asia will continue to drive RevPAU.

Our investment thesis on ART is intact and we believe the manager will continue to work hard to extract value from ART’s expanded portfolio for unitholders. Maintain BUY with a fair value of S$1.38.. (Ong Kian Lin)
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Ascott Residence Trust

Postby winston » Mon Oct 25, 2010 8:14 am

Not vested

Ascott Residence Trust said its revenue for the July-September period rose 5 percent to S$46.5 million from a year earlier due to higher contribution from its serviced residences in Singapore and Philippines.

But its distribution per unit slipped 4 percent to 1.85 Singapore cents, down from 1.92 Singapore cents a year ago.


Source: Reuters
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Ascott Residence Trust

Postby winston » Mon Oct 25, 2010 6:11 pm

Not vested. From OCBC:-

Maintain BUY.

Our investment thesis on ART is intact and we look forward to the performance results and revenue contribution of the 28 newly acquired properties in 4Q10.

Management has also stated its confidence in delivering the forecasted 4Q DPU of 1.84 S cents as disclosed in the Offer- Information-Statement (13-Sep).

Maintain BUY with an unchanged fair-value of S$1.38.

http://www.remisiers.org/cms_images/Asc ... 25-OIR.pdf
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Ascott Residence Trust

Postby winston » Fri Dec 10, 2010 6:55 pm

Not vested

Maintain BUY.

Our investment thesis on ART is intact and we look forward to the performance results and revenue contribution of the 28 newly acquired properties in 4Q10.

Management has also stated its confidence in delivering the forecasted 4Q DPU of 1.84 S cents as disclosed in the Offer-Information- Statement (13-Sep).

Maintain BUY with an unchanged fair-value of S$1.38. (Ong Kian Lin)

http://www.remisiers.org/cms_images/Mar ... 10-OIR.pdf
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Ascott Residence Trust

Postby winston » Mon Dec 27, 2010 4:35 pm

Not vested

The Ascott Limited: Fraud In Malaysian Operations. CapitaLand disclosed last Friday that its wholly-owned subsidiary has recently discovered unauthorised payments and transfers, among various financial breaches, in its Malaysian operations.

Ascott has made a police report in Malaysia based on available evidence. It has also commenced legal proceedings in the High Court of Malaya against three employees from the finance and accounts department of its Malaysian operations and four external parties to recover a sum of about RM33m (S$13.6m).

Source: The Business Times
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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