City Gas is currently the sole producer and retailer of town gas in Singapore and also the sole user of the low-pressure piped town gas network in Singapore. It owns the only town gas production facility in Singapore, Senoko Gasworks, with a capacity of 1.6 million m3 per day.
SingSpring owns and operates Singapore’s first and only large-scale seawater desalination plant which commenced commercial operations in December 2005. With a capacity of supplying up to 136,380 m3 of desalinated potable water per day, the plant is an essential facility capable of meeting approximately 10% of Singapore’s current water needs.
Basslink is a 370 km high-voltage, direct current monopole electricity transmission interconnector between the electricity grids of the States of Victoria and Tasmania in Australia. Basslink is the only electricity interconnector between Tasmania and mainland Australia, and enhances the availability and security of electricity supply to both Tasmania and Victoria. Basslink Telecoms (a unit of Basslink) was officially launched on 16 July 2009. It provides wholesale telecommunications between Tasmania and Melbourne, Victoria.
CityNet is the trustee-manager of NetLink Trust which owns the base layer assets consisting of ducts, manholes and central offices. CityNet is a Facilities-Based Operator (FBO) and a designated Public Telecommunications Licensee (PTL), providing access to the ducts, manholes and central offices required by other FBOs in rolling out their network for specific purposes. CityNet is currently providing such access to OpenNet, for the roll out of their fibre network, as well as SingTel.
Financial year is from 1 Apr to 31 Mar.
The company pays dividend quarterly.
Outstanding shares is 1,518,893,062.
NAV Mar 2012 is 27.9 cents
FY2012 EPS: 4.25 cents
FY2012 Dividend: 3.51 cents (4 quarters).
Projected dividend for FY2013 is 3.28 cents.
Unrestricted cash is $120,068,000 vs debt $1,352,837,000 as at 31 Mar 2012.
Company website: http://www.cityspring.com.sg/
Presentation slides for Fy 2012 on 3 May 2012 (Link)
Current share price is 39.5 cents
Comment:
Based on current share price of 39.5 cents and projected dividend of 3.28 cents, the yield is about 8%.
Update:
1Q FY2013 results announced on 2 Aug 2012
Cash earnings 1QFY13 is $22.3 million vs $3.6 million in 1Q FY12
DPU for 1Q FY13 is 0.82 cents
Share Price at 2 Aug 2012 is 41.5 cents
Presentation slides for 1Q FY13 : (link)
Update:
2Q FY2013 results announced on 1 Nov 2012
Cash earnings 2QFY13 is $35.8 million vs $15.6 million in 2Q FY12
DPU for 2Q FY13 is 0.82 cents
Share price at 1 Nov 2012 is 45 cents.
Presentation slides for 2Q FY 13: (link)
Update:
3Q FY2013 results announced on 8 Feb 2013
Cash earnings 3QFY13 is $24.9 millions
DPU for 3QFY13 is 0.82 cents
Share price at 8 Feb 2013 is 45 cents.
Presentation slides for 3QFY13: (link)
Update:
4Q FY2013 results announced on 3 May 2013
Cash earnings 4QFY13 is $16.8 million
DPU for 4QFY13 is 0.82 cents (or $12.45 million)
Share price at 3 May 2013 is 49.5 cents
Full year cash earnings for 2013 is $99.7 million.
Unrestricted cash is $164,637,000 vs debt of $1,344,323,000 as at 31 Mar 2013.
Presentation slides (link)
Projected DPU for FY 14 is 3.28 cents, same as FY13.
Presentation at AGM on 19 Jul 2013 (link)
1Q FY14 results announced on 13 Aug 2013
Cash earnings 1QFY14 is $15.987 million
DPU for 1QFY14 is 0.82 cents (or $12.455 million)
Cash and cash equivalents at end 1QFY14 is $157.105 million (link)
2QFY14 results announced on 4 Nov 2013
Cash earnings in 2QFY14 is $14.0 million
DPU for 2QFY14 is 0.82 cents (or $12.455 million)
Cash and cash equivalents at end 2QFy14 is $201.943 million (link)
3QFy14 results announced on 10 Feb 2014
Cash earnings 3QFy14 is $14.7 million
DPU for 3QFy14 is 0.82 cents (or $12.455 million)
Cash and cash equivalent at end 3QFy14 is $202 million (link) (excludes restricted cash)
4QFY14 results announced on 5 May 2014
Cash earnings 4QFY14 is $15.3 million
DPU is 0.82 cents (or $12.455 million)
Unrestricted cash is $259,700,000 vs debt of $1,297,728,000. (link)
Restricted cash is $44,627,000.
1QFY15 results announced on 13 Aug 2014
Cash earnings 1QFY15 is $22.6 million
DPU is 0.82 cents (or $12.455 million )
Unrestricted cash is $262,942,000 vs debt of $1,306,398,000 (link)
Restricted cash is $46,107,000.
2QFY15 results announced on 3 Nov 2014
Cash earnings 2QFY15 is $13.8 million
DPU is 0.82 cents (or $12.455 million)
Unrestricted cash is $253,059,000 vs debt of $1,259,876,000
Restricted cash is $44,073,000 (link)
Cityspring announced it will merge with Keppel Infrastructure Trust on Nov 18 2014
When completed in 2Q2015, new entity will be called Keppel Infrastucture Trust.
(link) and (link)
3QFY15 results announced on 27 Jan 2015. (link)
Cash earnings is negatvie $13.8 million*
DPU is 0,82 cents 9 or ($12.455 million)
Unrestricted cash is $180,096,000 vs debt of $1,171,689,000.
Restricted cash is $46,808,000.
*note: Fee for refinancing of Basslink bond is AUD 16 million
Settlement of dispute with Hydro Tasmania is AUD6 million
Otherwise cash earnings would be $13.5 million.
4QFY15 results announced on 6 May 2015 (link)
Cash earnings is $25.081 million.
DPU is 0.82 cents*. ($12.455 million)
Unrestricted cash is $197,862,000 vs debt of $1,143,880,000.
Restricted cash is $40,807,000.
*Note: Merger with Keppel Infrastructure Trust is expected to complete on 17 May 2015.
Special pro-rated DPU from 1 Apr to 16 May 2015 is 0.4235 cents.
One time DPU of 1.98 cents will also be given.
Rename Keppel Infrastructure Trust on 19 May 2015.
One time DPU of 1.05 cents
Pro-rated DPU of 0.11 cents for period 18 May to 20 Jun 2015.
Private placement of 812,694,000 new KIT shares done on 21 May at price between 52 cents.
218,862,495 non renounceable rights shares offered to KIT shareholders at 51.5 cents on basis of 1 right share for 13 KIT shares.
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