Stocks In Focus SG (Fraser Centrepoint Trust, AIMS AMP Capital Industrial REIT, CapitaMall Trust) – 23/04/14

• CapitaMall Trust recorded a 5 percent gain in revenue to $164.7 million for the quarter ended 31 March 2014, underpinned by increase in gross revenue after completion of phase 1 of asset enhancement initiative (AEI) at Bugis and higher contribution from other malls, partially offset by lower rental income due to the commencement of phase 2 of AEI at Bugs Junction in March 2014. Distributable income available to unitholders soared 4.5 percent to $89.1 million. The company has declared a distribution per unit of $0.0257.

• Frasers Centrepoint Trust recorded a modest 2.9 percent increase in gross revenue to $41 million for the quarter ended 31 March 2014, in light of revenue improvement from Causeway Point upon the completion of its alteration works. Distributable income available to unitholders was marginally up at $23.8 million. The company has declared a distribution per unit of $0.0288.

• AIMS AMP Capital Industrial Real Estate Investment Trust had its “BBB-“ credit rating re-affirmed by Standard & Poors’ on the back of attaining a satisfactory level of business risk and an intermediate level of financial risk.

• Yoma Strategic Holdings has established a joint venture (JV) with Mitsubishi Corporation and First Myanmar Investment to provide technical services and solutions, installation, testing and commissioning and import and supply of elevators, escalators and related products in the Republic of the Union of Myanmar. The company has subscribed for 20 percent of shares in the JV company through a consideration of US$0.3 million.

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