Mapletree North Asia Commercial Trust
Market Cap
S$4.0b
Last Updated
2019/10/19 12:53 UTC
Data Sources
Company Financials +
Executive Summary
Listed on the Singapore Exchange Securities Trading Limited ("SGX-ST") on 7 March 2013, Mapletree North Asia Commercial Trust ("MNACT") is the first real estate investment trust (“REIT”) that offers investors the opportunity to invest in best-in-class commercial properties situated in prime locations in China, in Hong Kong SAR and in Japan.
Snowflake
Fundamentals
Good value with acceptable track record.
Share Price & News
How has Mapletree North Asia Commercial Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Market Performance
7 Day Return
-2.4%
RW0U
-0.2%
SG REITs
-0.002%
SG Market
1 Year Return
10.7%
RW0U
18.0%
SG REITs
0.7%
SG Market
Return vs Industry: RW0U underperformed the SG REITs industry which returned 18% over the past year.
Return vs Market: RW0U exceeded the SG Market which returned 0.7% over the past year.
Shareholder returns
| RW0U | Industry | Market | |
|---|---|---|---|
| 7 Day | -2.4% | -0.2% | -0.002% |
| 30 Day | -5.3% | 0.6% | -1.4% |
| 90 Day | -13.9% | 0.7% | -7.3% |
| 1 Year | 17.7%10.7% | 25.2%18.0% | 4.7%0.7% |
| 3 Year | 43.0%15.9% | 44.3%19.1% | 15.1%2.8% |
| 5 Year | 85.1%30.5% | 60.5%15.7% | 10.1%-8.2% |
Price Volatility Vs. Market
How volatile is Mapletree North Asia Commercial Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 months ago | Simply Wall St
Just 4 Days Before Mapletree North Asia Commercial Trust (SGX:RW0U) Will Be Trading Ex-Dividend3 months ago | Simply Wall St
Introducing Mapletree North Asia Commercial Trust (SGX:RW0U), A Stock That Climbed 64% In The Last Five Years4 months ago | Simply Wall St
What Kind Of Shareholders Own Mapletree North Asia Commercial Trust (SGX:RW0U)?Valuation
Is Mapletree North Asia Commercial Trust undervalued compared to its fair value and its price relative to the market?
26.1%
Undervalued compared to fair value
Share Price vs. Fair Value
Undervalued: RW0U (SGD1.24) is trading below our estimate of fair value (SGD1.68)
Significantly Undervalued: RW0U is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: RW0U is good value based on its PE Ratio (6.2x) compared to the REITs industry average (15.7x).
PE vs Market: RW0U is good value based on its PE Ratio (6.2x) compared to the SG market (13.5x).
Price to Earnings Growth Ratio
Low PEG Ratio: RW0U's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: RW0U is good value based on its PB Ratio (0.9x) compared to the SG REITs industry average (1x).
Next Steps
Future Growth
How is Mapletree North Asia Commercial Trust forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
-19.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: RW0U's earnings are forecast to decline over the next 3 years (-19.4% per year).
Earnings vs Market: RW0U's earnings are forecast to decline over the next 3 years (-19.4% per year).
High Growth Earnings: RW0U's earnings are forecast to decline over the next 3 years.
Revenue vs Market: RW0U's revenue (2.3% per year) is forecast to grow slower than the SG market (5.4% per year).
High Growth Revenue: RW0U's revenue (2.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
High Future ROE: RW0U's Return on Equity is forecast to be low in 3 years time (4.4%).
Next Steps
Past Performance
How has Mapletree North Asia Commercial Trust performed over the past 5 years?
13.2%
Historical annual earnings growth
Earnings and Revenue History
Past Earnings Growth Analysis
Earnings Trend: RW0U's earnings have grown by 13.2% per year over the past 5 years.
Accelerating Growth: RW0U's earnings growth over the past year (10%) is below its 5-year average (13.2% per year).
Earnings vs Industry: RW0U earnings growth over the past year (10%) exceeded the REITs industry 0.3%.
Return on Equity
High ROE: RW0U's Return on Equity (13.9%) is considered low.
Return on Assets
ROA vs Industry: RW0U has a higher Return on Assets than the REITs industry average last year.
Return on Capital Employed
ROCE Improving: RW0U's Return on Capital Employed has declined over the past 3 years.
Next Steps
Financial Health
How is Mapletree North Asia Commercial Trust's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: RW0U has a high level of physical assets or inventory.
Debt Coverage by Assets: RW0U's debt is not covered by short term assets (assets are 0.1x debt).
Financial Institutions Analysis
Asset Level: RW0U's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if RW0U has a sufficient allowance for bad loans.
Low Risk Liabilities: RW0U reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if RW0U has an acceptable proportion of non-loan assets held.
Low Risk Deposits: RW0U has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if RW0U has an appropriate level of bad loans.
Next Steps
Dividend
What is Mapletree North Asia Commercial Trust's current dividend yield, its reliability and sustainability?
6.31%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Stability and Growth of Payments
Notable Dividend: RW0U's dividend (6.31%) is higher than the bottom 25% of dividend payers in the SG market (2.55%).
High Dividend: RW0U's dividend (6.31%) is in the top 25% of dividend payers in the SG market (5.71%)
Stable Dividend: Whilst dividend payments have been stable, RW0U has been paying a dividend for less than 10 years.
Growing Dividend: RW0U's dividend payments have increased, but the company has only paid a dividend for 6 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (63.5%), RW0U's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: RW0U's dividends in 3 years are not forecast to be well covered by earnings (122.4% payout ratio).
Next Steps
Management
What is the CEO of Mapletree North Asia Commercial Trust's salary, the management and board of directors tenure and is there insider trading?
6.7yrs
Average board tenure
CEO
Cindy Chow (49yo)
0yrs
Tenure
Ms. Pei Pei Chow, also known as Cindy, serves as the Chief Executive Officer at Mapletree North Asia Commercial Trust Management Ltd. (formerly Mapletree Greater China Commercial Trust Management Ltd.), th ...
Board Age and Tenure
6.7yrs
Average Tenure
60yo
Average Age
Experienced Board: RW0U's board of directors are considered experienced (6.7 years average tenure).
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Company |
| Shares | 2,500,000 |
| Max Price | S$1.31 |
| Entity | Company |
| Shares | 529,500 |
| Max Price | S$1.45 |
| Entity | Company |
| Shares | 26,000 |
| Max Price | S$1.14 |
| Entity | Company |
| Shares | 26,000 |
| Max Price | S$1.14 |
| Entity | Company |
| Shares | 1,470,300 |
| Max Price | S$1.44 |
Ownership Breakdown
Management Team
Cindy Chow (49yo)
CEO & Executive Director of Mapletree North Asia Commercial Trust Management Ltd
- Tenure: 0yrs
Kwong Weng Wan
Joint Company Secretary of Mapletree North Asia Commercial Trust Management Ltd
- Tenure: 0yrs
Hui Hui See
Joint Company Secretary of Mapletree North Asia Commercial Trust Management Ltd
- Tenure: 0yrs
Elizabeth Loo
Vice President of Investor Relations of Mapletree North Asia Commercial Trust Management Ltd
- Tenure: 0yrs
Chern Shiong Ng
General Manager - Invest. & Asset Management of Mapletree North Asia Commercial Trust Management Ltd
- Tenure: 0yrs
Wah Ng
Chief Financial Officer of Mapletree North Asia Commercial Trust Management Ltd
- Tenure: 3yrs
Simon Smith
Senior Dir. and Head of Res. & Consul. - Asia Pac of Mapletree North Asia Commercial Trust Mgmnt Ltd
- Tenure: 0yrs
Hideaki Suzuki
Director and Head of Research & Consulting Japan of Mapletree North Asia Commercial Trust Mgmnt Ltd
- Tenure: 0yrs
Board Members
Michael Kok (67yo)
Independent Non-Executive Director of Mapletree North Asia Commercial Trust Management Ltd
- Tenure: 6.7yrs
- Compensation: S$88.50k
Yoon Khong Hiew (58yo)
Non-Executive Director of Mapletree North Asia Commercial Trust Management Ltd
- Tenure: 6.9yrs
Paul Ma (72yo)
Non-Executive Chairman of Mapletree North Asia Commercial Trust Management Ltd
- Tenure: 3.2yrs
- Compensation: S$121.00k
Tiow Chye Chua (60yo)
Non-Executive Director of Mapletree North Asia Commercial Trust Management Ltd
- Tenure: 6.9yrs
Vi Ming Lok (58yo)
Lead Independent Director of Mapletree North Asia Commercial Trust Management Ltd
- Tenure: 3.2yrs
- Compensation: S$112.73k
Kevin Khien Kwok (63yo)
Independent Non-Executive Director of Mapletree North Asia Commercial Trust Management Ltd
- Tenure: 6.7yrs
- Compensation: S$101.00k
Carrie Tan (51yo)
Independent Non-Executive Director of Mapletree North Asia Commercial Trust Management Ltd
- Tenure: 2.9yrs
- Compensation: S$78.50k
Cindy Chow (49yo)
CEO & Executive Director of Mapletree North Asia Commercial Trust Management Ltd
- Tenure: 0yrs
Lawrence Wong (64yo)
Independent Non-Executive Director of Mapletree North Asia Commercial Trust Management Ltd
- Tenure: 1yrs
- Compensation: S$39.27k
Company Information
Mapletree North Asia Commercial Trust's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Mapletree North Asia Commercial Trust
- Ticker: RW0U
- Exchange: SGX
- Founded:
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: S$3.953b
- Shares outstanding: 3.19b
- Website: https://www.mapletreenorthasiacommercialtrust.com
Location
- Mapletree North Asia Commercial Trust
- 10 Pasir Panjang Road
- No. 13-01 Mapletree Business City
- Singapore
- 117438
- Singapore
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| RW0U | SGX (Singapore Exchange) | Yes | Units | SG | SGD | Mar 2013 |
| 7MGC | DB (Deutsche Boerse AG) | Yes | Units | DE | EUR | Mar 2013 |
Biography
Listed on the Singapore Exchange Securities Trading Limited ("SGX-ST") on 7 March 2013, Mapletree North Asia Commercial Trust ("MNACT") is the first real estate investment trust (“REIT”) that offers invest ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/10/19 12:53 |
| End of Day Share Price | 2019/10/18 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2019/03/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.