Sasseur Real Estate Investment Trust (Sasseur REIT)

Sasseur REIT to join FTSE EPRA Nareit Global Emerging Index from Dec 23

SINGAPORE (Dec 6): Sasseur Real Estate Investment Trust (Sasseur REIT) is set to join the FTSE EPRA Nareit Global Emerging Index from Dec 23. 

The index, a collaboration between  FTSE Russell, the European Public Real Estate Association (EPRA) and the National Association of Real Estate Investment Trusts (Nareit), covers the performance of listed real estate companies and REITs in emerging markets. 

The index is also seen as the leading benchmark for listed real estate investments. 

Sasseur REIT outperforms month-to-date

SINGAPORE (Nov 25): November threw up some surprises for followers of real estate in­ vestment trusts. The outperform­er month­-to-­date is Sasseur REIT, which had traded at or below its IPO price of 80 cents for most of the time since its listing in March last year. In 3QFY2019, its distributable income rose 7.2% y-­o-­y to $19.6 million, and distribu­tion per unit increased 6.4% y­-o-­y to 1.64 cents. Its net asset value is 84.99 cents, 6.2% higher since IPO. Sasseur REIT has been trading at 80 cents since April this year, but moved above this level at end­ Oc­tober.


Sasseur REIT gets 'buy' calls all around as China retail outlet malls sizzle

SINGAPORE (Nov 20): Analysts are unanimously bullish on Sasseur Real Estate Investment Trust (Sasseur REIT), as the China-focused retail outlet mall manager continues to shine.

Of the four brokerages covering Sasseur REIT, Maybank Kim Eng Research, UOB Kay Hian Research and DBS Group Research have “buy” recommendations on the counter, while CGS-CIMB Research has an “add” call.

REITs have had a good run, yield compression may have come to an end

(Nov 18): Yields on 10-year Singapore Government Securities have been rising, albeit gently from a low base (see Chart 1). Similarly, yields on 10-year US Treasuries are also rising, from a low of 1.4% in September to 1.945% as at Nov 11 (see Chart 2). On Oct 30, the US Federal Reserve, through a statement by the Federal Open Market Committee, announced a 25-basis-point cut in the Fed funds rate to 1.5% to 1.75%.


Sasseur REIT's rental income continues to outperform, but continued 10-year growth an unknown

SINGAPORE (June 10): Anthony Ang, CEO of Sasseur Real Estate Investment Trust’s manager, and Harold Woo, senior adviser to Sasseur REIT’s manager, are old hands at retail property, REITs and China. Sasseur REIT owns four outlet malls in China’s secondary cities — Chongqing, Bishan, Hefei and Kunming — valued at more than $1 billion.


Sasseur REIT beats IPO forecast by 9.3% with 1Q DPU of 1.656 cents

SINGAPORE (May 13): The manager of Sasseur Real Estate Investment Trust (Sasseur REIT) has declared distribution per unit (DPU) of 1.656 cents for the 1Q19 ended March, some 9.3% higher than its IPO projection of 1.515 cents.

Sasseur REIT, the owner of retail outlet malls in China, recorded distributable income of $19.7 million for 1Q19, exceeding its IPO projection of $18.0 million by 9.3%.

Entrusted Management Agreements (EMA) rental income of $30.7 million in 1Q19 was 2.4% higher than its IPO projection of $30.0 million.

Sasseur REIT rides on China's love for luxury goods

SINGAPORE (Apr 23): Following a site visit to Sasseur REIT’s outlet malls – Chongqing mall and Hefei mall – during their annual Spring sale, the REIT has attracted the attention of Phillip Capital.

In an unrated report on Monday, analyst Natalie Ong says, “Sasseur’s outlet malls not only offer large discounts on branded goods targeted at the middle class, brand-conscious consumer, but also incorporate numerous activities and entertainment programmes to engage different age group.”

Sasseur REIT says public tranche over 3.7 times subscribed

SINGAPORE (Mar 28): The manager of Sasseur REIT says the public tranche of its initial public offering (IPO) was over 3.7 times subscribed.

At the close of the public tranche at 12 noon on Monday, valid applications for an aggregate of 51.4 million units were received.

Sasseur REIT's IPO comprised an international placement of 252.8 million units which included a placement tranche of 51.4 million units; a public tranche of 13.75 million units and commitments from 12 cornerstone investors who subscribed for an aggregate 228.4 million units.

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