Cache Logistics Trust

Fallout from Hong Kong loan default to have limited impact on Singapore REITs

SINGAPORE (April 22): A trio of Singapore industrial real estate investment trusts (REITs) is feeling the fallout from CWT International’s default.


HK-listed CWT International defaults on loan interests and fees; 3 CWT-linked REITs could be hit

SINGAPORE (Apr 16): CWT International (CWTI), controlled by Chinese conglomerate HNA Group which is facing liquidity challenges, on Tuesday announced it has failed to pay accrued interests and fees to lenders totalling HK$63 million ($10.9 million) which have become due and payable under a HK$1.4 billion facility.

See: HNA to face $3.1 bil liquidity crunch this quarter

Cache Logistics Trust acquires logistics warehouse and office facility in Australia for $42.6 mil

SINGAPORE (Mar 20): ARA Trust Management, the manager of Cache Logistics Trust, announced that it has acquired a warehouse and office facility located in Melbourne, Australia for a total consideration of A$44.3 million ($42.6 million), with an initial property yield of 6.8%.

This acquisition was made through Cache Logistic Trust’s wholly-owned sub-trust Altonia (VIC) Trust.

Located within the industrial suburb of Altona, the freehold property’s land area is about 83,020 sqm and its net lettable area is about 37,853 sqm.

Analysts positive on CacheLog Trust amid sector headwinds

SINGAPORE (Jan 28): RHB Research and Maybank Kim Eng are maintain their “buy” ratings on Cache Logistics Trust (CLT) with the respective price targets of 81 cents and 85 cents, after the trust’s 4Q18 DPU dipped 5.9% to 1.502 cents due to lower net property income (NPI).

OCBC Investment Research, on the other hand, has downgraded its call from “buy” to “hold” with the downward revision of its fair value estimate to 76 cents from 78 cents previously.

Cache Logistics Trust 4Q DPU drops 5.9% to 1.502 cents

SINGAPORE (Jan 25): The manager of Cache Logistics Trust announced DPU for 4Q18 declined by 5.9% to 1.502 cents, compared to 1.597 cents in 4Q17.

This was on the back of a 5.3% decrease in distributable amount to unitholders to $16.2 million from $17.1 million a year ago.

This brings DPU for FY18 to 5.903 cents, 10.3% lower than 6.583 cents in FY17.

Cache Logistics Trust's 2Q DPU falls 17.6% on higher expenses

SINGAPORE (July 31): The manager of Cache Logistics Trust (CLT) has reported a 2Q18 DPU of 1.419 cents, down 17.6% on-year from 1.722 cents a year ago on higher property expenses.

Revenue grew 7.7% y-o-y to $30 million with the full-quarterly contribution from the trust’s recently-acquired, nine-property Australian portfolio, as well as higher contributions from 51 Alps Ave and its rental top-up.

These were however partially offset by the loss of contribution from Hi-Speed Logistics Centre (40 Alps Ave, Singapore) which was divested in May 2018.

Trump's trade tantrum disrupts many sectors

SINGAPORE (July 9): US President Donald Trump will travel to Brussels on July 11 and 12 for a North Atlantic Treaty Organization summit. The members of NATO include six of the seven countries that comprise the G7. The last time he met with his European allies and Canada, Trump unleashed a Twitter storm and exacerbated a trade war. On July 1, the European Union indicated it may impose tariffs on US$300 billion ($410.4 billion) worth of US auto and auto parts, in retaliation to the US threat to levy a 25% tariff on EU imports.

ARA acquiring full control of manager Cache Logistics Trust

SINGAPORE (June 25): ARA-CWT Trust Management (Cache), as manager of Cache Logistics Trust, has proposed the acquisition by ARA Asset Management of all of CWT shares in the manager and in Cache Property Management, the property manager of Cache.

CWT currently owns 40% and 60% of the shares of the manager and property manager respectively. ARA is the global integrated real assets fund manager with $77.2 billion in gross assets managed by the ARA Group and its associates and was taken private last year after being listed in 2007.

What does it take to be a REIT manager?

SINGAPORE (June 22): Earlier in June, John Lim, CEO of ARA Asset Management, and a pioneer of Singapore’ real estate investment trust sector, sat down with The Edge Singapore after just announcing a sterling set of results.

Along with Japan’s Kenedix and Australia’s Cromwell Property Group — itself an internalised REIT — ARA can now lay claim to assets under management (AUM) of $77 billion, putting it within reach of Lim’s $100 billion target that he set about a year ago.

Post-merger benefits aplenty for Viva Industrial Trust unitholders: OCBC

SINGAPORE (May 24): OCBC Investment Research is maintaining its “neutral” call on Singapore industrial REITs with the recommendation to switch holdings to Viva Industrial Trust (VIT) from Cache Logistics Trust (CLT).

While VIT has been rated “accept offer” at a fair value of 90 cents, CLT is kept at “hold” with a fair value of 83 cents.  

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