REIT Yield Statistics (Jul 13)

For an explanation of the statistics and the statistics for the last month, please click here.

Median REIT Yield Movement

Median REIT Yield Movement (Jul 13)

Cumulative Median REIT Yield Distribution

Cumulative REIT Yield Distribution (Jul 13)

See related blog posts:

• REIT Yield Statistics
• REIT Asset Expiry Profile 
• REIT Debt Maturity Profile

REIT Debt Maturity Profile

This table shows the debt maturity profile of REITs in terms of Debt as % of Equity. Also shown in the table are the all-in interest rate and interest cover. When a blank appears under a particular year, it means that there are no debts maturing in that year. For debts maturing in 2018 and beyond, they are consolidated and shown in the Column ">=2018". When a "See 2017" remark appears in the same column, it means that the REIT has debts maturing beyond 2017, but did not break them down into 2017, 2018, 2019, etc.

For REITs that report their debt maturity profiles using Financial Year (FY) instead of Calendar Year, the debt is shown in the second year, i.e. if a debt matures in FY13/14, the debt is shown in the year 2014. For such REITs, "FY" and their financial year end are indicated in the "Remarks" column.

Debt Maturity Profile of REITs

See related blog posts:

• REIT Asset Expiry Profile
• REIT Yield Statistics 
• REITs Are Not Forever Attractive 

SGS Yield Statistics (Jul 13)

For an explanation of the statistics, please click here.

For the statistics of the last month, please click here.

Cumulative Interest Rate Distribution

Cumulative Interest Rate Distribution (Jul 13)

Interest Rate Movement

Interest Rate Movement (Jul 13)

See related blog posts:

• SGS Yield Statistics
• Government Bonds - A Primer
• Government Bonds - The Tools

REIT Yield Statistics

Median REIT Yield Movement

This chart plots the movement of the historical median yields of all REITs and Business Trusts (BTs) as well as that of the short-term (3-month), medium-term (10-year) and long-term (30-year) Singapore Government Securities (SGS) benchmark bonds. The chart also plots the movement of share prices as represented by the Straits Times Index. This chart provides an indication of the current yields relative to historical yields.

Median REIT Yield Movement (Jun 13)

As the historical yields are derived figures, please take note of the following points:

• Median yield. To prevent any outlier individual REIT/ BT yield from distorting the overall yield, the median yield of all REITs/ BTs is used.
• Small no. of REITs/ BTs initially. The no. of REITs/ BTs initially is small. Hence, when a new REIT/ BT is added, it could cause a major change in the median yield. This issue still exists for yields categorised according to sectors.
• Preceding Financial Year (FY) distribution is used. The distribution in the preceding FY is used to calculate the yield. It is not based on the rolling 12-month distribution and is only updated once a year, usually 1-2 months after the end of the FY.
• First FY distribution is usually not used. The distribution for the first FY usually does not cover the full FY and is much lower than that for the subsequent full FYs. Hence, it is usually not included in the yield calculation, unless the distribution in the first FY is close to that of subsequent FYs. For this reason, the newly listed REITs/ BTs are usually not included until a year or more after listing.
• No adjustment for corporate actions. The yield is not adjusted for any issues of new shares, rights issues or share consolidations. This explains the sharp spike in the yields between Mar 2008 and Mar 2010 during the Global Financial Crisis when a lot of REITs undertook major rights issues.
• Turn-of-month price is used. The price used to calculate the yield every month is not based on the last trading day of the calendar. It is based on either the last Friday of the month or the first Friday of the following month, whichever is closer to the end of the month.

Cumulative Median REIT Yield Distribution

This chart plots the cumulative distribution of the historical median yields of most REIT/ BT sectors since Sep 2003. The historical yields of the Mixed and Residential sectors are not plotted as their historical yields extend beyond the range of the yields plotted. The triangles represent the current median yield of each REIT/ BT sector. When a triangle falls out of the chart, it means that the current yield is outside the range of the yields plotted. The figures in brackets in the legend represent the no. of REITs/ BTs used in the yield calculation for that sector. This chart provides an indication of the current yields relative to the historical yields for each sector.

Cumulative REIT Yield Distribution (Jun 13)

The list of REITs/ BTs in each sector is shown in the following table. The definition of whether a counter is a REIT or BT follows that of SGX (see SGX website -> Products -> REITs -> Investors' Corner). When a REIT/ BT is marked as "new", it means that the REIT/ BT does not have distribution for a full FY and therefore has not been included in the median yield calculation.

Counter	Sector	REIT/BT	Remarks
First Reit	Healthcare	Reit
ParkwayLife	Healthcare	Reit
Religare	Healthcare	Trust	New
AscendasHT	Hotel	Trust	New
Ascott	Hotel	Reit
CDLHTrust	Hotel	Trust
FarEastHT	Hotel	Trust	New
AimsAmp	Industrial	Reit
Ascendas	Industrial	Reit
AscendasInd	Industrial	Trust
Cache	Industrial	Reit
Cambridge	Industrial	Reit
MapletreeInd	Industrial	Reit
MapletreeLog	Industrial	Reit
Sabana	Industrial	Reit
AsianPayTV	Infrastructure	Trust	New
CitySpring	Infrastructure	Trust
HPHTrust	Infrastructure	Trust
K-Green	Infrastructure	Trust
MIIF	Infrastructure	Trust
First Ship	Leasing	Trust
Global Inv	Leasing	Trust
Rickmers	Leasing	Trust
MacCookProp	Mixed	Trust
MapletreeGCC	Mixed	Reit	New
CapitaComm	Office	Reit
Forterra	Office	Trust
FrasersComm	Office	Reit
Indiabulls	Office	Trust
K-Reit	Office	Reit
Suntec	Office	Reit
Saizen	Residential	Reit
CapitaMall	Retail	Reit
CapitaRChina	Retail	Reit
Croesus	Retail	Trust	New
Fortune	Retail	Reit
FrasersCT	Retail	Reit
LippoMalls	Retail	Reit
MapletreeComm	Retail	Reit
Perennial	Retail	Trust
Starhill	Retail	Reit

See related blogs:

• Latest REIT Yield Statistics (Apr 18)
• REIT Asset Expiry Profile
• REIT Debt Maturity Profile

SGS Yield Statistics (Jun 13)

For an explanation of the statistics and the statistics for the last quarter, please click here.

Cumulative Interest Rate Distribution

Cumulative Interest Rate Distribution (Jun 13)

Interest Rate Movement

Interest Rate Movement (Jun 13)

See related blog posts:

• SGS Yield Statistics
• Government Bonds - A Primer
• Government Bonds - The Tools

Structured Warrant Statistics

No. of Structured Warrants

This chart plots the no. of structured warrants and the Straits Times Index since Jun 2005. For an idea on why this statistics is tracked, you may wish to read the Structured Warrants post on (The) Boring Investor blog.

No. of Structured Warrants (Jun 2013)

% Puts

This chart plots the % of structured warrants as puts and the Straits Times Index since Jun 2005.

% Structured Warrants as Puts (Jun 2013)

Note: The source of structured warrant data was changed from SG to BNP Paribas since Jun 2013.


See related blog posts:

• Structured Warrants
• Latest Structured Warrant Statistics (Dec 15)

Share Buy-Back (Time-Series) Statistics

This table plots the change in the cumulative no. of shares bought back or held as treasury shares (whichever is higher) as a percentage of total no. of shares for companies that engaged in share buy-backs since Sep 2008. Note that a blank figure for a particular 6-month period means the company did not engage in any share buy-back for that period. The figure for the blank-out period may or may not be the same as that for the preceding 6-month period depending on whether the company carried out any treasury share transfers, cancellations, new share issues, share splits/ consolidations, etc. Any changes in the figures over the 6-month periods could also be explained by these corporate actions.

For the current no. of treasury/ outstanding/ total shares in the company as at Mar 2013 and a description on how the statistics were derived, please click here.


Share Buy-Back (Time-Series) Statistics
As at 31 March 2013

Counter	Sep 10	Mar 11	Sep 11	Mar 12	Sep 12	Mar 13
2nd Chance		0.41%	0.32%	0.08%	3.62%
8Telecom	2.13%	2.99%	3.29%
Advance SCT	0.94%
Advanced	2.18%
AEI	3.83%
AEM					1.67%	2.27%
AIM	1.52%
Anchun					0.34%
Anwell		0.06%	0.10%
Armstrong			3.50%	4.58%	4.67%
AsiaMedic				0.01%	0.03%
Asiatravel	7.70%			4.19%	4.21%
ASL	0.60%
Aspial	0.99%	0.64%
AusGroup						0.83%
Avi-Tech	1.48%		1.76%	1.78%	2.28%
Aztech	5.19%		4.67%		4.71%
BBR	0.16%	0.53%	0.73%	0.97%
Best World	0.31%	0.45%	0.73%		0.76%
BioSensors						1.14%
Boustead	2.04%	2.12%	2.40%	2.41%		3.18%
BRC						0.14%
BreadTalk	0.49%		0.28%	0.44%	0.29%
Broadway		0.12%	0.23%
Bund Center						0.17%
CNA			0.24%	0.43%	0.49%
Capitaland			0.49%	0.59%
CDW	0.16%		3.35%	4.98%	7.05%	8.85%
ChangJiang	0.03%
Chasen	1.02%		0.12%	0.29%	0.28%
Cheung Woh			0.63%	2.37%	2.47%	3.41%
China Fibre					0.02%
China Kangda	2.07%
China Mining			0.01%
China Sports			0.06%
China Sunsine	2.92%			5.33%
China Taisan		0.09%	0.62%	0.67%
ChinaAvOil	0.65%	0.82%	0.83%
ChinaNTown	1.78%
ChipEngSeng						2.87%
Chuan Hup	5.56%
CordLife						0.09%
Creative			7.15%
CSC	0.35%	0.56%	0.60%	0.65%	0.75%	0.94%
CSE	6.85%
DBS	0.30%		0.30%	0.37%
Del Monte	0.28%		0.61%			0.37%
DMX			0.39%	0.44%		0.49%
Duty Free						1.05%
Engro				0.24%		0.34%
Epicentre					0.02%	0.18%
Etika	0.24%
Europtronic		1.84%
Excelpoint	1.05%
Ezion	0.12%
Ezra	0.97%
F&N				0.10%
First Res	1.02%
Food Empire				0.03%	0.19%
Food Junc		1.73%	2.41%	5.88%
Forterra			1.11%	1.28%
Fragrance		0.12%
Freight Links			0.22%	0.32%		0.36%
Frencken	2.72%	2.72%
Full Apex		0.45%	0.47%
Fuxing	1.65%
GblYellowPgs				9.92%
GK Goh	0.31%			0.13%	0.20%	0.22%
GKE						1.17%
Global Test	2.47%	2.14%	2.84%	4.22%	1.80%	3.96%
GMG			0.06%	0.20%
Golden Ocean			0.24%	0.76%	1.38%
Goodpack		0.06%	0.07%			0.07%
GP Ind	0.48%	2.09%				2.40%
Hai Leck		0.18%	0.20%
Hanwell	2.16%				4.60%
Healthway	1.13%
HG Metal					1.34%	2.13%
Hiap Hoe	0.49%	0.65%	0.73%	0.84%
Hi-P	5.75%	6.78%		7.01%	6.97%
Hisaka	9.81%	9.96%	9.17%		9.07%
HMI	0.13%
Ho Bee	0.18%	0.57%	3.31%	4.60%	5.08%	3.66%
Hosen	1.56%	8.36%
Hotung	1.22%	4.01%	0.77%	1.49%	1.08%	2.16%
HTL	3.19%	3.67%
Hupsteel	0.45%	0.51%	0.66%	0.83%	0.86%	0.95%
Hyflux	0.09%			1.66%	4.31%
Inch Kenneth						4.01%
IndoFood	0.62%		0.48%	0.62%	0.76%	0.93%
Innotek	7.48%	7.95%	8.46%	9.20%
ISDN	1.32%
Jadason	0.36%			0.51%
JEP			2.76%	4.94%
Karin	0.53%	0.48%	0.91%	0.85%	0.69%	0.47%
Keong Hong						2.50%
Kingsmen	2.47%
Koh Bros			2.04%	2.72%	0.79%	1.47%
KSH			0.29%		1.71%	1.07%
KTL Global	1.87%
Lasseters	1.47%
LC Devt	1.54%			1.39%
Longcheer	11.63%					10.85%
Lum Chang	0.97%		0.74%	2.62%	2.76%
Memtech	0.61%	1.09%	1.19%	1.33%	1.54%
Metro	0.39%			0.42%
MFS	1.06%
MIIF		0.66%	3.27%	8.21%	2.26%	2.75%
MIT	1.56%
Miyoshi	0.12%
MTQ	7.83%
NexGenSCom		0.96%
Noble	2.26%			0.53%
Novo	5.73%
Ntegrator	0.07%
OCBC	0.10%	0.19%	0.11%	0.30%	0.35%	0.47%
OKH	0.42%
Olam					2.03%
OSIM	5.49%	5.99%	5.96%	2.63%	3.37%	3.78%
OUE			0.05%	7.30%	7.31%
Pan Hong	0.61%	0.67%
Pan Utd					1.32%	1.51%
Plastoform						0.37%
Poh TC				0.36%
Popular						2.46%
Raffles Edu	1.63%	2.28%
Ramba	5.13%		1.90%
Riverstone						0.03%
Rotary					0.06%
Ryobi Kiso		0.06%	0.71%	1.01%	1.41%	2.13%
Saizen					0.05%	0.15%
Sakae						0.33%
Samudera	0.20%
San Teh	0.43%	0.86%		0.89%	1.41%	1.43%
Sarin		0.29%	0.53%	0.62%	0.71%
SATS		0.05%	0.09%		0.11%
SeeHupSeng	1.20%				1.79%	3.90%
SembCorp	0.48%	0.15%	0.22%	0.51%	0.03%	0.22%
SembMar	0.78%	0.28%	0.08%	0.13%	0.05%	0.18%
Serial					1.10%
SGX	0.49%
SIA	0.33%	0.26%	1.03%	1.94%	2.27%
SIIC						0.01%
Silverlake	4.97%			2.75%
Sin Heng				0.09%
SingPost	0.45%		2.22%
SingTel	0.01%		0.00%
Sinjia	5.90%
SPH					0.07%	0.13%
Starhub	0.13%	0.12%		0.13%
Straco		0.05%	0.59%	1.08%	3.10%	3.13%
Sunvic	9.44%		2.89%	3.58%
Super	0.07%
SuperBowl	0.20%
Surface MT	0.32%
Swiber	0.71%
Tai Sin	0.70%
Tat Hong	0.39%
Technics	8.40%	3.15%	3.63%
Telechoice	0.15%	0.38%	0.42%	0.27%	0.29%
Travelite	0.73%
UIS	0.70%					0.47%
UMS	2.82%
UOB				1.08%
UOL	0.93%	2.18%	2.25%
Valuetronics	0.92%
Venture						0.04%
Vibropower	2.24%					2.83%
VicPlas						0.03%
Viking				0.06%	0.87%	1.12%
Viz Branz	1.62%		1.37%	1.69%
WBL	0.08%
Wee Hur			0.53%		2.33%
Wilmar					0.12%
Wing Tai	1.99%
Xinren			0.16%	0.27%	0.36%
XMH			0.01%	3.43%		3.64%
Yong Xin						0.15%
YZJ	6.25%		0.03%	0.14%

Note: The percentages refer to "Cumulative no. of shares purchased to-date" or "Number of treasury shares held after purchase", whichever is higher, as a percentage of total no. of shares.


See related blog posts:

• Latest Share Buy-Back (Time-Series) Statistics (Sep 17)
• Share Buy-Back Statistics
• Rights, Bonuses and Share Buy-Backs