FATAMA = Fundamental Analysis, Technical Analysis, Macro Analysis 🙂

Fundamental Analysis

• Type = Industrial (Australia)
• Portfolio = 54
• Last Traded Price = $0.935
• NAV = $0.94
• Price / NAV = 0.9947
• Forecasted Annual DPU = 1.74 cents * 4 = 6.96 cents
• Distribution Yield = 7.44%
• WALE = 6.9 Years
• Occupancy Rate = 99.3%
• Gearing Ratio = 29.7%
• Pipeline from Sponsor (ROFR) = 14
• Latest Frasers Logistic & Industrial Trust Earning Presentation.

See previous Frasers Logistic & Industrial Trust Analysis here.

Compare FLT with other Singapore REITs Table here.

Technical Analysis

Macro Analysis

Australian Annual Growth Rate

Australian Manufacturing PMI

AUD / SGD Price Chart

See AUD / SGD Exchange Rate and Price Chart here.

OFFERING IN RESPECT OF 521,749,000 UNITS (“UNITS”) REPRESENTING UNDIVIDED INTERESTS IN FRASERS LOGISTICS & INDUSTRIAL TRUST (“FLT”) FOR SUBSCRIPTION AT THE OFFERING PRICE OF S$0.89 PER UNIT COMPRISING:

I. AN INTERNATIONAL PLACEMENT OF 441,749,000 UNITS TO INVESTORS, INCLUDING INSTITUTIONAL AND OTHER INVESTORS IN SINGAPORE (THE “PLACEMENT TRANCHE”), OF WHICH 5,617,000 UNITS ARE RESERVED FOR SUBSCRIPTION BY THE DIRECTORS, MANAGEMENT, EMPLOYEES AND BUSINESS ASSOCIATES OF FRASERS CENTREPOINT LIMITED (THE “SPONSOR”) AND FRASERS LOGISTICS & INDUSTRIAL ASSET MANAGEMENT PTE. LTD. (THE “REIT MANAGER”) AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF FLT (THE “RESERVED UNITS”); AND

II. AN OFFERING OF 80,000,000 UNITS TO THE PUBLIC IN SINGAPORE (THE “PUBLIC OFFER”), SUBJECT TO THE OVER-ALLOTMENT OPTION OF UP TO 28,503,000 UNITS (THE “OVERALLOTMENT OPTION”).

Please see the official announcement of the Frasers Logistics & Industrial Trust IPO Listing Balloting Result here.

NEWS RELEASE

Frasers Logistics & Industrial Trust IPO Prospectus

OVERVIEW OF FLT
FLT is a Singapore real estate investment trust (“REIT”) established with the investment strategy of principally investing globally, directly or indirectly, in a diversified portfolio of income-producing real estate assets which are predominantly used for logistics or industrial purposes, whether wholly or partially, as well as such industrial real estate-related assets in connection with the foregoing, with an initial focus on Australia. The REIT Manager is a wholly-owned subsidiary of the Sponsor.

Frasers Logistics & Industrial Trust IPO Prospectus

• Type = Industrial (Australia)
• Sponsor = Frasers Centrepoint Ltd (22.5%) (Page 73)
• Total Unit Offered = 521,749,000 (Page 72)
• Portfolio = 51
• IPO Offer Price = Between S$0.85 to S$0.89
• Net Asset Value =$1,166,839,000 (Page 86)
• Number of units in issue = 1,429,231,000 (Page 89)
• NAV = $0.8164
• Price / NAV = between 1.04  to 1.09
• Distribution Yield = 6.83% to 7.0% (2016), 7.3% to 7.5% (2017)
• WALE = 6.9 Years (Page 4)
• Occupancy Rate = 98.3% (Page 4)
• Gearing Ratio = 29.0% (Page 138)
• Plan Listing: June 21, 2016

Compare to other Singapore REITs here.

Compare to other Singapore REITs here.