Declared Dividend • Apr 25
Fourth quarter dividend increased to S$0.019 Dividend of S$0.019 is 24% higher than last year. Ex-date: 30th April 2026 Payment date: 29th May 2026 Dividend yield will be 4.9%, which is lower than the industry average of 5.4%. Price Target Changed • Jan 29
Price target increased by 8.0% to S$1.49 Up from S$1.38, the current price target is an average from 14 analysts. New target price is approximately in line with last closing price of S$1.45. Stock is up 22% over the past year. The company is forecast to post earnings per share of S$0.067 for next year compared to S$0.054 last year. Declared Dividend • Jan 24
Fourth quarter dividend increased to S$0.021 Dividend of S$0.021 is 34% higher than last year. Ex-date: 29th January 2026 Payment date: 27th February 2026 Dividend yield will be 4.8%, which is lower than the industry average of 5.4%. Reported Earnings • Jan 23
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: S$0.054 (up from S$0.039 in FY 2024). Revenue: S$471.6m (down 13% from FY 2024). Net income: S$178.0m (up 58% from FY 2024). Profit margin: 38% (up from 21% in FY 2024). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.0%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the REITs industry in Singapore. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Jan 22
Suntec Real Estate Investment Trust Announces Distribution for the Period of 1 October 2025 to 31 December 2025, Payable on 27 February 2026 Suntec Real Estate Investment Trust announced a distribution of 2.102 cents per unit in Suntec REIT ("Unit") for the period of 1 October 2025 to 31 December 2025 (the "Distribution"), comprising a taxable income component of 1.535 cents per unit and a tax-exempt income component of 0.567 cents. Holders of Units ("Unitholders") whose securities accounts with The Central Depository (Pte) Limited are credited with Suntec REIT Units as at Record Date will be entitled to the Distribution that will be paid on 27 February 2026. Announcement • Jan 02
Suntec Real Estate Investment Trust to Report Fiscal Year 2025 Results on Jan 22, 2026 Suntec Real Estate Investment Trust announced that they will report fiscal year 2025 results After-Market on Jan 22, 2026 Declared Dividend • Oct 25
Dividend increased to S$0.018 Dividend of S$0.018 is 13% higher than last year. Ex-date: 30th October 2025 Payment date: 28th November 2025 Dividend yield will be 4.7%, which is lower than the industry average of 5.4%. Announcement • Oct 03
Suntec Real Estate Investment Trust to Report Q3, 2025 Results on Oct 23, 2025 Suntec Real Estate Investment Trust announced that they will report Q3, 2025 results at 12:00 PM, Singapore Standard Time on Oct 23, 2025 Board Change • Sep 23
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Lead Independent Non-Executive Director of ARA Trust Management (Suntec) Limited Chee Meng Yap was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Aug 07
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 8.8% to S$1.24. The fair value is estimated to be S$1.01, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Declared Dividend • Jul 26
Dividend of S$0.016 announced Shareholders will receive a dividend of S$0.016. Ex-date: 31st July 2025 Payment date: 29th August 2025 Dividend yield will be 5.3%, which is about the same as the industry average. Buy Or Sell Opportunity • Jul 21
Now 22% overvalued The stock has been flat over the last 90 days, currently trading at S$1.15. The fair value is estimated to be S$0.94, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 51%. For the next 3 years, revenue is forecast to decline by 1.0% per annum. Earnings are forecast to grow by 14% per annum over the same time period. Announcement • Jul 07
Suntec Real Estate Investment Trust to Report First Half, 2025 Results on Jul 24, 2025 Suntec Real Estate Investment Trust announced that they will report first half, 2025 results on Jul 24, 2025 Declared Dividend • Apr 26
Fourth quarter dividend of S$0.016 announced Shareholders will receive a dividend of S$0.016. Ex-date: 2nd May 2025 Payment date: 30th May 2025 Dividend yield will be 5.4%, which is about the same as the industry average. Buy Or Sell Opportunity • Apr 15
Now 22% overvalued Over the last 90 days, the stock has fallen 8.1% to S$1.13. The fair value is estimated to be S$0.92, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 51%. For the next 3 years, revenue is forecast to decline by 0.6% per annum. Earnings are forecast to grow by 14% per annum over the same time period. Announcement • Apr 04
Suntec Real Estate Investment Trust to Report Q1, 2025 Results on Apr 24, 2025 Suntec Real Estate Investment Trust announced that they will report Q1, 2025 results on Apr 24, 2025 Reported Earnings • Mar 26
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: S$0.039 (down from S$0.059 in FY 2023). Revenue: S$544.1m (up 9.1% from FY 2023). Net income: S$112.8m (down 34% from FY 2023). Profit margin: 21% (down from 34% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 29%. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the REITs industry in Asia. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Mar 25
Suntec Real Estate Investment Trust, Annual General Meeting, Apr 17, 2025 Suntec Real Estate Investment Trust, Annual General Meeting, Apr 17, 2025, at 14:30 Singapore Standard Time. Location: level 3 summit 1, suntec singapore convention & exhibition centre, 1 raffles boulevard, suntec city, singapore 039593, Singapore Announcement • Mar 21
Suntec Real Estate Investment Trust Announces the Appointment of Matthew James Lawson as Non-Executive Director The Board of Directors of ESR Trust Management (Suntec) Limited, in its capacity as manager of Suntec Real Estate Investment Trust (Suntec REIT) (the Manager), refer to its
announcement dated 14 February 2025, announced that it has received the regulatory approval as required under the Securities and Futures Act 2001 of Singapore and that the appointment
of Mr. Matthew James Lawson ("Mr. Lawson") as a Non-Executive Director of the Manager is effective from 21 March 2025. The Board of the Manager would like to welcome Mr. Lawson as Non-Executive Director. Mr. Lawson is currently the Chief Operating Officer of ESR Group Limited, and brings with him extensive real estate expertise and experience as a director of several companies. Mr. Lawson's appointment would strengthen the Board's capabilities and add to its diverse breadth of expertise, knowledge and experience. Announcement • Feb 14
Suntec Real Estate Investment Trust Announces Retirement of Lim Hwee Chiang as Non-Executive Director The Board of Directors (the "Board") of ESR Trust Management (Suntec) Limited, in its capacity as manager of Suntec Real Estate Investment Trust ("Suntec REIT") (the "Manager"), wishes to announce the retirement of Mr. Lim Hwee Chiang as a Non-Executive Director of the Manager with effect from 14 February 2025. Mr. Lim Hwee Chiang has served with distinction, providing insightful guidance and strategic counsel that has been instrumental to the growth and success of Suntec REIT. His expertise and over 42 years of experience in the real estate industry have been particularly beneficial in solidifying the portfolio foundation of Suntec REIT. Declared Dividend • Jan 25
Fourth quarter dividend reduced to S$0.016 Dividend of S$0.016 is 16% lower than last year. Ex-date: 3rd February 2025 Payment date: 28th February 2025 Dividend yield will be 5.1%, which is lower than the industry average of 5.4%. New Risk • Jan 24
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 21% Last year net profit margin: 34% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.1x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (21% net profit margin). Reported Earnings • Jan 24
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: S$0.039 (down from S$0.059 in FY 2023). Revenue: S$544.1m (up 9.1% from FY 2023). Net income: S$112.8m (down 34% from FY 2023). Profit margin: 21% (down from 34% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 29%. Revenue is expected to decline by 1.5% p.a. on average during the next 3 years, while revenues in the REITs industry in Asia are expected to grow by 2.4%. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Jan 23
Suntec Real Estate Investment Trust Announces Distribution for the Period from 1 October 2024 to 31 December 2024, Payable on 28 February 2025 Suntec Real Estate Investment Trust announced distribution of 1.570 cents per unit for the period from 1 October 2024 to 31 December 2024, payable on 28 February 2025. Record date is 4 February 2025. Ex-date is 3 February 2025. Announcement • Jan 07
Suntec Real Estate Investment Trust to Report Second Half, 2024 Results on Jan 23, 2025 Suntec Real Estate Investment Trust announced that they will report second half, 2024 results on Jan 23, 2025 Announcement • Dec 06
Celine Tang and Gordon Tang proposed to acquire an additional 68.55% stake in Suntec Real Estate Investment Trust (SGX:T82U) for SGD 2.3 billion Celine Tang and Gordon Tang proposed to acquire an additional 68.55% stake in Suntec Real Estate Investment Trust (SGX:T82U) for SGD 2.3 billion on December 5, 2024. A cash consideration of SGD 2.32 billion valued at SGD 1.16 per share will be paid by the buyer. As part of consideration, SGD 2.32 billion is paid towards common equity of Suntec Real Estate Investment Trust.
United Overseas Bank Limited, Oversea-Chinese Banking Corporation Limited and DBS Bank Ltd. has been appointed to act as the financial advisor to the Offerors Declared Dividend • Oct 26
Dividend of S$0.016 announced Shareholders will receive a dividend of S$0.016. Ex-date: 1st November 2024 Payment date: 28th November 2024 Dividend yield will be 5.3%, which is about the same as the industry average. Announcement • Oct 24
Suntec Real Estate Investment Trust Announces Distribution for the Period of 1 July 2024 to 30 September 2024, Payable on 28 November 2024 Suntec Real Estate Investment Trust announced that the Transfer Books and Register of Unitholders of the company will be closed on 4 November 2024 being the Record Date for the purpose of determining unitholders' entitlements to Suntec REIT's distribution. The company has announced a distribution of 1.580 cents per unit in Suntec REIT (Unit) for the period of 1 July 2024 to 30 September 2024 (the Distribution), comprising a taxable income component of 1.450 cents per unit and a tax-exempt income component of 0.130 cents. Holders of Units (Unitholders) whose securities accounts with The Central Depository (Pte) Limited are credited with Suntec REIT Units as at Record Date will be entitled to the Distribution that will be paid on 28 November 2024. Announcement • Oct 04
Suntec Real Estate Investment Trust to Report Q3, 2024 Results on Oct 24, 2024 Suntec Real Estate Investment Trust announced that they will report Q3, 2024 results After-Market on Oct 24, 2024 Announcement • Sep 13
Suntec Real Estate Investment Trust Announces Change of Company Secretaries Suntec Real Estate Investment Trust announce the appointment of Ms Ha Mui Ling as Company Secretary of the Manager in place of Ms Chiang Wai Ming with effect from 13 September 2024. Following the aforesaid change, the Company Secretaries are Ms Low Mei Mei, Maureen and Ms Ha Mui Ling. Reported Earnings • Jul 28
First half 2024 earnings released: EPS: S$0.028 (vs S$0.023 in 1H 2023) First half 2024 results: EPS: S$0.028 (up from S$0.023 in 1H 2023). Revenue: S$268.3m (up 2.6% from 1H 2023). Net income: S$81.3m (up 25% from 1H 2023). Profit margin: 30% (up from 25% in 1H 2023). Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 1.7% decline forecast for the REITs industry in Asia. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Declared Dividend • Jul 27
Dividend of S$0.015 announced Shareholders will receive a dividend of S$0.015. Ex-date: 1st August 2024 Payment date: 29th August 2024 Dividend yield will be 5.7%, which is about the same as the industry average. Announcement • Jul 26
Suntec Real Estate Investment Trust Announces Distribution for the Period from April 1, 2024 to June 30, 2024, Payable on August 29, 2024 Suntec Real Estate Investment Trust has announced a distribution of 1.531 cents per unit in Suntec REIT (Unit) for the period of 1 April 2024 to 30 June 2024, comprising a taxable income component of 1.486 cents per unit and a tax-exempt income component of 0.045 cents. Holders of Units whose securities accounts with The Central Depository (Pte) Limited are credited with Suntec REIT Units as at Record Date will be entitled to the Distribution that will be paid on 29 August 2024. Announcement • Jul 06
Suntec Real Estate Investment Trust to Report First Half, 2024 Results on Jul 25, 2024 Suntec Real Estate Investment Trust announced that they will report first half, 2024 results on Jul 25, 2024 Declared Dividend • Apr 27
Fourth quarter dividend reduced to S$0.015 Dividend of S$0.015 is 13% lower than last year. Ex-date: 3rd May 2024 Payment date: 30th May 2024 Dividend yield will be 6.3%, which is higher than the industry average of 5.4%. Announcement • Apr 25
Suntec Real Estate Investment Trust Announces Distribution for the Period from 1 January 2024 to 31 March 2024, Payable on 30 May 2024 The transfer books and register of unitholders of Suntec Real Estate Investment Trust will be closed at 5.00 p.m. on 6 May 2024 being the record date for the purpose of determining unitholders' entitlements to company's distribution. The company has announced a distribution of 1.511 cents per unit in the company for the period of 1 January 2024 to 31 March 2024 (distribution), comprising a taxable income component of 1.450 cents per unit and a tax-exempt income component of 0.061 cents. Holders of units whose securities accounts with The Central Depository (Pte) Limited are credited with the company as at record date will be entitled to the distribution that will be paid on 30 May 2024. Announcement • Apr 06
Suntec Real Estate Investment Trust to Report Q1, 2024 Results on Apr 25, 2024 Suntec Real Estate Investment Trust announced that they will report Q1, 2024 results Pre-Market on Apr 25, 2024 Reported Earnings • Mar 29
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: S$0.059 (down from S$0.16 in FY 2022). Revenue: S$498.7m (down 13% from FY 2022). Net income: S$171.4m (down 63% from FY 2022). Profit margin: 34% (down from 81% in FY 2022). Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) also surpassed analyst estimates by 6.9%. Revenue is forecast to grow 1.0% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the REITs industry in Asia. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Mar 27
Suntec Real Estate Investment Trust, Annual General Meeting, Apr 18, 2024 Suntec Real Estate Investment Trust, Annual General Meeting, Apr 18, 2024, at 14:30 Singapore Standard Time. Location: Level 3 Summit 1, Suntec Singapore Convention & Exhibition Centre, 1 Raffles Boulevard, Suntec City, Singapore 039593 Singapore Agenda: To receive and adopt the Report of the Trustee, the Statement by the Manager and the Audited Financial Statements of Suntec REIT for the year ended December 31, 2023 and the Auditors’ Report thereon; to re-appoint Ernst & Young LLP as the External Auditors of Suntec REIT to hold office until the conclusion of the next AGM of Suntec REIT, and to authorise the Manager to fix their remuneration; to authorise the Manager to issue Units and to make or grant convertible instruments; and to approve the renewal of the Unit Buy-Back Mandate. Announcement • Mar 13
Suntec Real Estate Investment Trust Announces Nominating and Remuneration Committee Changes The Board of Directors of ARA Trust Management (Suntec) Limited, in its capacity as manager of Suntec REIT announced the appointment of Mr. Shen Jinchu and Mr. Yap Chee Meng as members of the Nominating and Remuneration Committee effective from 13 March 2024. Following the aforesaid change, the composition of the NRC will be as follows with effect from 13 March 2024: Chan Pee Teck Peter - Chairman, Chew Gek Khim - Member, Lock Wai Han - Member, Shen Jinchu - Member and Yap Chee Meng - Member. Buy Or Sell Opportunity • Feb 07
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 5.4% to S$1.17. The fair value is estimated to be S$0.97, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 1.0% per annum. Earnings are also forecast to grow by 4.9% per annum over the same time period. Reported Earnings • Jan 24
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: S$0.059 (down from S$0.16 in FY 2022). Revenue: S$462.7m (down 19% from FY 2022). Net income: S$185.4m (down 60% from FY 2022). Profit margin: 40% (down from 81% in FY 2022). Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) also surpassed analyst estimates by 6.9%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the REITs industry in Asia. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Jan 24
Suntec Real Estate Investment Trust Announces Distribution for the Period from 1 October 2023 to 31 December 2023, Payable on 28 February 2024 Notice is hereby given that the transfer books and register of unitholders of Suntec Real Estate Investment Trust will be closed at 5.00 p.m. on 1 February 2024 being the Record Date for the purpose of determining unitholders' entitlements to Suntec REIT's distribution. Suntec REIT has announced a distribution of 1.866 cents per unit in Suntec REIT (Unit) for the period of 1 October 2023 to 31 December 2023 (Distribution), comprising a taxable income component of 1.510 cents per unit, a tax-exempt income component of 0.158 cents and a capital distribution of 0.198 cents per unit. Holders of Units ("Unitholders") whose securities accounts with The Central Depository (Pte) Limited are credited with Suntec REIT Units as at Record Date will be entitled to the Distribution that will be paid on 28 February 2024. Announcement • Jan 06
Suntec Real Estate Investment Trust to Report Second Half, 2023 Results on Jan 24, 2024 Suntec Real Estate Investment Trust announced that they will report second half, 2023 results on Jan 24, 2024 Announcement • Oct 21
Suntec Real Estate Investment Trust Announces Distribution for the Period of 1 July 2023 to September 30, 2023, Payable on November 29, 2023 Suntec Real Estate Investment Trust announced a distribution of 1.793 cents per unit in Suntec REIT for the period of 1 July 2023 to 30 September 2023, comprising a taxable income component of 1.549 cents per unit, a tax-exempt income component of 0.046 cents and a capital distribution of 0.198 cents per unit. Holders of Units whose securities accounts with The Central Depository (Pte) Limited are credited with Suntec REIT Units as at Record Date will be entitled to the Distribution that will be paid on November 29, 2023. Announcement • Oct 07
Suntec Real Estate Investment Trust to Report Q3, 2023 Results on Oct 20, 2023 Suntec Real Estate Investment Trust announced that they will report Q3, 2023 results at 5:00 PM, Singapore Standard Time on Oct 20, 2023 Announcement • Aug 31
Suntec Real Estate Investment Trust Announces Resignation of Jeffrey David Perlman as Non-Executive Director, Effective August 30, 2023 Suntec Real Estate Investment Trust announced resignation of Jeffrey David Perlman as Non-Executive Director. Reason for Cessation is Mr. Jeffrey David Perlman ("Mr. Perlman") will relinquish his role as a Non-Executive Director on 30 August 2023 as part of Board renewal. The Board expresses its gratitude and appreciation to Mr. Perlman for his valuable contributions to the Manager and Suntec REIT during his tenure of dedicated services. Reported Earnings • Jul 27
First half 2023 earnings released: EPS: S$0.023 (vs S$0.094 in 1H 2022) First half 2023 results: EPS: S$0.023 (down from S$0.094 in 1H 2022). Revenue: S$261.6m (down 15% from 1H 2022). Net income: S$65.2m (down 76% from 1H 2022). Profit margin: 25% (down from 87% in 1H 2022). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the REITs industry in Asia. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Jul 26
Suntec Real Estate Investment Trust Announces Distribution for the Period of 1 April 2023 to 30 June 2023, Payable on 29 August 2023 Suntec Real Estate Investment Trust (Suntec REIT) announced that the transfer books and register of unitholders of Suntec REIT will be closed on 3 August 2023 being the Record Date for the purpose of determining unitholders' entitlements to Suntec REIT's distribution. Suntec REIT has announced a distribution of 1.739 cents per unit in Suntec REIT (Unit) for the period of 1 April 2023 to 30 June 2023 (Distribution), comprising a taxable income component of 1.443 cents per unit, a tax-exempt income component of 0.097 cents and a capital distribution of 0.199 cents per unit. Holders of Units ("Unitholders") whose securities accounts with The Central Depository (Pte) Limited are credited with Suntec REIT Units as at Record Date will be entitled to the Distribution that will be paid on 29 August 2023. Reported Earnings • Mar 30
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: S$0.16 (down from S$0.16 in FY 2021). Revenue: S$572.1m (up 24% from FY 2021). Net income: S$462.8m (flat on FY 2021). Profit margin: 81% (down from 101% in FY 2021). Net asset value (NAV) per share: S$2.12 (flat on FY 2021). The current share price is 33% lower than NAV per share. Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) also surpassed analyst estimates by 95%. Revenue is expected to fall by 3.7% p.a. on average during the next 3 years compared to a 4.1% decline forecast for the REITs industry in Asia. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Jan 20
Suntec Real Estate Investment Trust Announces Distribution for the Period of 1 October 2022 to 31 December 2022, Payable on 28 February 2023 Suntec Real Estate Investment Trust has announced a distribution of 1.990 cents per unit in Suntec REIT for the period of 1 October 2022 to 31 December 2022, comprising a taxable income. component of 1.523 cents per unit, a tax-exempt income component of 0.267 cents and a capital distribution of 0.200 cents per unit. Record Date will be entitled to the Distribution that will be paid on 28 February 2023. Announcement • Jan 07
Suntec Real Estate Investment Trust to Report Second Half, 2022 Results on Jan 20, 2023 Suntec Real Estate Investment Trust announced that they will report second half, 2022 results on Jan 20, 2023 Recent Insider Transactions • Dec 16
Insider recently bought S$2.5m worth of stock On the 13th of December, Chen Huaidan bought around 2m shares on-market at roughly S$1.40 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth S$2.6m. Insiders have collectively bought S$8.6m more in shares than they have sold in the last 12 months. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Non-Executive Director of ARA Trust Management (Suntec) Limited Jeffrey David Perlman was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Nov 10
Insider recently bought S$2.6m worth of stock On the 7th of November, Chen Huaidan bought around 2m shares on-market at roughly S$1.31 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought S$3.1m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Aug 26
Insider recently bought S$1.6m worth of stock On the 19th of August, Chen Huaidan bought around 1m shares on-market at roughly S$1.60 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold S$1.4m more in shares than they bought in the last 12 months. Reported Earnings • Jul 28
First half 2022 earnings released: EPS: S$0.094 (vs S$0.043 in 1H 2021) First half 2022 results: EPS: S$0.094 (up from S$0.043 in 1H 2021). Revenue: S$307.7m (up 46% from 1H 2021). Net income: S$268.6m (up 120% from 1H 2021). Profit margin: 87% (up from 58% in 1H 2021). Over the next year, revenue is expected to shrink by 25% compared to a 7.9% growth forecast for the industry in Singapore. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Board Change • Jun 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Non-Executive Director of ARA Trust Management (Suntec) Limited Jeffrey David Perlman was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • May 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Non-Executive Director of ARA Trust Management (Suntec) Limited Jeffrey David Perlman was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 30
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: S$0.16 (up from S$0.026 loss in FY 2020). Revenue: S$461.0m (up 24% from FY 2020). Net income: S$465.3m (up S$538.1m from FY 2020). Net asset value (NAV) per share: S$2.11 (up 2.7% from FY 2020). The current share price is 17% lower than NAV per share. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 126%. Over the next year, revenue is expected to shrink by 13% compared to a 6.5% growth forecast for the reits industry in Singapore. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Board Change • Feb 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Lead Independent Non-Executive Director of ARA Trust Management (Suntec) Limited Chee Meng Yap was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jan 26
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: S$0.16 (up from S$0.026 loss in FY 2020). Revenue: S$358.1m (down 3.7% from FY 2020). Net income: S$476.4m (up S$549.2m from FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 126%. Over the next year, revenue is forecast to grow 13%, compared to a 9.3% growth forecast for the reits industry in Singapore. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Dec 01
Board Member recently sold S$3.0m worth of stock On the 30th of November, Wai-Wai Chow sold around 2m shares on-market at roughly S$1.51 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Jul 24
First half 2021 earnings released: EPS S$0.043 (vs S$0.001 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: S$210.9m (up 14% from 1H 2020). Net income: S$122.3m (up S$123.9m from 1H 2020). Profit margin: 58% (up from net loss in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 04
Full year 2020 earnings released: S$0.026 loss per share (vs S$0.14 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: S$371.8m (down 29% from FY 2019). Net loss: S$72.7m (down 119% from profit in FY 2019). Net asset value (NAV) per share: S$2.06 (down 3.3% from FY 2019). The current share price is 23% lower than NAV per share. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 20
New 90-day low: S$1.46 The company is down 5.0% from its price of S$1.54 on 20 November 2020. The Singaporean market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is S$2.86 per share. Is New 90 Day High Low • Jan 26
New 90-day high: S$1.55 The company is up 8.0% from its price of S$1.44 on 28 October 2020. The Singaporean market is up 18% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the REITs industry, which is also up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is S$6.04 per share. Is New 90 Day High Low • Nov 20
New 90-day high: S$1.54 The company is up 14% from its price of S$1.35 on 21 August 2020. The Singaporean market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is S$1.23 per share. Recent Insider Transactions • Oct 31
Insider recently bought S$484k worth of stock On the 28th of October, Jialin Tang bought around 336k shares on-market at roughly S$1.44 per share. In the last 3 months, there was an even bigger purchase from another insider worth S$2.8m. Insiders have collectively bought S$24m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Oct 21
Insider recently bought S$2.8m worth of stock On the 16th of October, Chanzhen Yang bought around 2m shares on-market at roughly S$1.43 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought S$24m more in shares than they have sold in the last 12 months. Major Estimate Revision • Oct 12
Analysts update estimates The 2020 consensus earning per share (EPS) estimate was lowered from S$0.054 to S$0.048. Revenue estimate was approximately flat at S$312.7m. Net income is expected to shrink by 39% next year compared to 17% decline forecast for the REITs industry in Singapore. The consensus price target was lowered from S$1.62 to S$1.60. Share price is down by 2.0% to S$1.44 over the past week. 
