Cambridge REIT

tfwee · Veteran

RE: Cambridge REIT

tfwee · Veteran

The Board of Directors of Cambridge Industrial Trust Management Limited, the Manager of Cambridge Industrial Trust (CIT) is pleased to inform that CITs unaudited results for the 2nd Quarter ended 30 June 2007 will be released on 31 July 2007.

tfwee · Veteran

CIT ACQUIRES 120 PIONEER ROAD AND 7 UBI CLOSE FOR A TOTAL OF S$47.0 MILLION

1. Cambridge Industrial Trust Management Limited (the "Manager"), the Manager of Cambridge Industrial Trust ("CIT"), has identified 120 Pioneer Road and 7 Ubi Close (the Properties) to be acquired by CIT at a purchase price of S$26,500,000 and
S$20,500,000 respectively (the Acquisitions).

2. In connection with the Acquisitions, RBC Dexia Trust Services Singapore Limited, as trustee of CIT (the Trustee), has entered into separate conditional put and call option agreements (the Option Agreements) with Compact Metal Industries Ltd (Compact), a SGX-listed company and Group Exklusiv Pte Ltd (Group Exklusiv) respectively, to acquire the two Properties.

3. The acquisitions are expected to be financed by debt or alternative funding sources in line with the Managers capital management strategy in optimizing the funding of the Trust. The above Property will be accretive to CITs distributable income.

4. Information On The Properties (Extracts)

120 Pioneer Road
- Purchase Price : S$26.5 million
- Leasehold estate of 30 years + 28 years wef 16 Feb1997
- Lease term : 7 years with 5% rental escalations on the commencement of the third
and fifth year.
- DPU Impact : +0.0557 cents

7 Ubi Close
- Purchase Price : S$20.5 million
- Leasehold estate of 30 years wef 1 Aug 1994
- Lease term : 7 years with 5% rental escalations on the commencement of the third
and fifth year.
- DPU Impact : +0.1687 cents

Note : DPU Impact is based on simple annualisation on the audited results for the financial period ended 31 December 2006 and the assumption that CIT had purchased, held and operated the respective property for the same annualised period based on long term gearing ratio of 40%.

tfwee · Veteran

Completion of Acquisition of Armorcoat International Building Located At 361 Ubi Road 3 Singapore 408664 for S$18.0 Million

1. Cambridge Industrial Trust Management Limited (the "Manager"), the Manager of Cambridge Industrial Trust ("CIT"), is pleased to announce the completion of the acquisition of Armorcoat International Building located at No. 361 Ubi Road 3 Singapore 408664 (the "Property") today for a purchase price of S$18.0 million.

2. RBC Dexia Trust Services Singapore Limited as trustee of CIT (the "Trustee"), has on 8 June 2007 exercised the call option under the put and call option agreement (the "Option Agreement"), entered into with Armorcoat International Pte Ltd (the Vendor) on 15 December 2006.

3. Pursuant to the Trustee's exercise of the call option under the Option Agreement, the Trustee and Vendor have entered into the sales and purchase agreement for the Property and completed the sales and purchase today.

4. The purchase price and other acquisition costs of the Property are fully funded by debt.

5. Located along Ubi Road 3, the property comprises a five-storey industrial building with a basement carkpark level and a roof top swimming pool. It has a gross floor area of 8,931.0 sqm, and it is situated on land area of 4,563.7 sqm. The land is on leasehold title of 30 years with an option to renew for a further 30 years which expires on 31 January 2057. Armorcoat International Pte Ltd and Chartered World Academy Pte Ltd will jointly leaseback the Property for 10 years, with 7% rental escalations on the commencement of the fourth and seventh year.

6. CIT is a real estate investment trust constituted by the Trust Deed entered into on 31 March 2006 between the manager of CIT and RBC Dexia Trust Services Singapore Limited as the Trustee of CIT. Since its listing on the Singapore Exchange Securities Trading Limited (SGX-ST) on 25 July 2006 (the Listing Date), CIT has an asset portfolio comprising 30 properties worth S$640 million, all of which are currently located in Singapore. Cambridge Industrial Trust Management Limited, the Manager of CIT, is a joint venture
between Cambridge Real Estate Investment Management Pte Ltd (CREIM), CWT Limited (CWT), a Singapore incorporated company listed on the Main Board of the SGXST which is engaged in the business of cargo logistics and distribution, and Mitsui & Co., Ltd (Mitsui). Mitsui is one of Japans largest business conglomerates and they listed Japan Logistics Fund, Inc., the first REIT dedicated to investing in logistics facilities, in May 2005. 60% of the issued share capital of the Manager is held by CREIM, 20% is held by Mitsui, and the remaining 20% is held by CWT.

7. In relation to the initial public offering of CIT, the joint global co-ordinators and joint financial advisers were ABN AMRO Rothschild and CLSA Merchant Bankers Limited, and the joint lead underwriters and bookrunners were ABN AMRO Rothschild and CLSA Singapore Pte Ltd. The public offer co-ordinator and sub-placement agent was Philip Securities Pte Ltd.

-- Edited by tfwee at 20:27, 2007-06-08

tfwee · Veteran

Cambridge Industrial Trust Management Limited ( CITM ), the Manager of Cambridge Industrial Trust ( CIT ), wishes to announce that 839,740 new units in CIT ( Units ) have been issued to CITM on 26 April 2007.

The Units were issued at an issue price of $0.823 per Unit, in lieu of the payment of 97% of the base fee ( Base Fee ) component of the management fee to CITM for the period from 1 January 2007 to 31 March 2007.

The Base Fee is defined in the trust deed constituting CIT (the Trust Deed ) as 0.5% per annum of the value of the deposited property. In accordance with the Trust Deed, the issue price was determined based on the volume weighted average traded price for a Unit for all trades done on the Singapore Exchange Securities Trading Limited, in the ordinary course of trading, for 10 business days immediately preceding the relevant business day.

The Manager has elected to receive 97% of the Base Fee in Units as disclosed in the section entitled The Manager and Corporate Governance on page 224 of CIT s prospectus dated 14 July 2006 issued in connection with the initial public offering of Units. Following the above issue of Units, the total Units in issue is 513,833,517 of which CITM s holding is 2,378,963.

tfwee · Veteran

Dated 25th April 2007

Singapore Cambridge Industrial Trust ( CIT ) announced that it has signed a Put and Call Option Agreement to acquire 28 Senoko Drive (the Property ) for S$12.0 million from SGX-listed company Tat Seng Packaging Group Ltd ( Tat Seng ).

The acquisition is expected to be financed by debt or alternative funding sources in line with the Manager s capital management strategy to optimize the funding of the Trust.

Mr Wilson Ang, Chief Executive Officer of the Manager, said, We are pleased to partner Tat Seng in this sale and leaseback deal. Tat Seng has a long history in the paper industry with sound financial standing. The 15 years lease term of the property shows the strong commitment by Tat Seng.

As a result, this transaction brings our weighted average lease term from 7.41 years to 7.67 years. Tat Seng s Managing Director, Mr Loh See Moon said, We are pleased to enter into this transaction with Cambridge Industrial Trust as it provides an opportunity for Tat Seng to unlock the value of the Property and enable our resources to be more efficiently redeployed towards the expansion of our business.

For more detailed Press Release, click here

tfwee · Veteran

NOTICE OF BOOKS CLOSURE AND DISTRIBUTION PAYMENT

DATE NOTICE IS HEREBY GIVEN that the Transfer Books and Register of Unitholders of Cambridge Industrial Trust ( CIT ) will be closed at 5.00 pm on Thursday, 3 May 2007 for the purpose of determining unitholders entitlements to CIT s distribution.

CIT has announced a distribution of 1.434 cents per unit in CIT for the period 1 January 2007 to 31 March 2007.

Unitholders whose securities accounts with The Central Depository (Pte) Limited are credited with CIT units as at 5.00 pm on 3 May 2007 will be entitled to the distribution that will be paid on Wednesday, 30 May 2007.

tfwee · Veteran

Summary of the Press Release. Click Here for more detail report

Singapore, 26 April 2007

The Board of Directors of Cambridge Industrial Trust Management Ltd. (CITM), the Manager of Cambridge Industrial Trust (CIT), is pleased to announce that 1.434 cents per unit is available for distribution based on distributable income generated during the period from 1 January 2007 to 31 March 2007.

Mr Wilson Ang, Chief Executive Officer of the Manager, said, This has been a busy quarter for us. After refinancing our bridge loan, we went on to complete the acquisition of two new properties, 63 Hillview Avenue (part of) and 55 Ubi Avenue 3 valued at S$91 million which will contribute an annual gross revenue of S$6.35 million to CIT. We have also announced four Option Agreements worth S$58.3 million which upon completion, will contribute an additional annual gross revenue of S$5.71 million. Together with signed MOUs worth S$115 million as at 31 March 2007, we are targeting to acquire approximately S$500 million worth of properties this year.

Stable and Secure Yield

CIT's total net distributable income was S$7.4 million. This represents an annualized yield of 7.09% based on the closing price of S$0.82 per unit on 30 March 2007. All the properties are signed with long leases ranging from 5 to 10 years, with fixed rental escalation. The weighted average remaining lease term of CIT portfolio remained stable at 7.1 years as at 31 March 2007.

Property Portfolio

As at 31 March 2007, CIT has a portfolio of 29 properties with 475,374.1 sq m of lettable area valued at S$622.0 million. The weighted average land lease on these properties is 41 years, excluding freehold property which comprises 7% of total lettable area. Approximately 45% of the portfolio of properties is in the logistics and warehousing sector, with the next significant segment in the light industrial space accounting for 30%; the remaining properties are represented across a well-diversified spectrum of tenant uses such as car showrooms, self-storage facilities as well as industrial and warehousing.

Full Occupancy Backed by Strong Demand

The overall occupancy of CIT s portfolio of 29 properties remained at 100% as at 31 March 2007. 45% of CIT s property portfolio is in the high-growth logistics and warehousing sector, and 30% is in the light industrial space for which demand remains strong and which the management believes is likely to improve for quasi-office usage from the current rental pressure on prime office space in the Central Business District.

Acquisition Pipeline

CIT has signed and announced Option Agreements valued at approximately S$58.3 million. If successfully concluded, the legal completion for the acquisition of these properties is expected in the second to third quarter of 2007. In addition, several Memorandum of Understanding (MOU) Agreements were signed for the acquisition of properties with an aggregate value of about S$115 million.

Capital Management

CIT has fixed its interest rate exposure by entering into a 12-month interest rate swap on 65.0% of the outstanding borrowings as of 31 March 2007. The bridging loan facility of S$400 million has been replaced by a Variable Funding Note (VFN) structure of up to S$ 390 million and an overdraft facility of up to S$10 million. As at 31 March 2007, an amount of S$281.7 million is outstanding under the VFN.

-- Edited by tfwee at 11:39, 2007-04-26

tfwee · Veteran

24th April 2007, Singapore Cambridge Industrial Trust (CIT) announced that it has signed a Put and Call Option Agreement to acquire 9 Bukit Batok Street 22 (the Property) for S$18.3 million.

The acquisition is expected to be financed by debt or alternative funding sources in line with the Managers capital management strategy to optimize the funding of the Trust.

More information can be found here

tfwee · Veteran

Extracted from DMG dated 23 April 2007

Cambridge Industrial Trust (CREIT SP, $0.82) Buy - Defensive with growth

Cambridge Industrial Trust (CIT) stands out as most defensive amongst industrial S-reits. FY07 yield of 7.3% is a significant 90-290bps above its comparable peers and backed by a stable income stream. The low P/book NAV of 1.22x indicates little acquisition upside have been factored into share price despite a visible asset pipeline. Rewarding partnerships with logistics services supplier CWT and Mitsui as well as wide business networks, have and would continue to supply a ready stream of new purchases. Acquisition-led growth coupled with organic expansion should translate to a DPU Cagr of 7-8% over the next 2 years. Amongst industrial S-reits, CIT has the greatest scope to enhance its properties which could boost asset backing and overall yields in the medium term. Our DCF-backed price target of $1.01 translates to a potential absolute return of 30%. Recommend buy.

Industrial and logistics-focussed reit. Cambridge Industrial Trust (CIT), an industrial and logistics-focussed reit has one of the most defensive income profile. Long rental contracts ensure sustainable earnings while higher-than-industry-average security deposits would iron out any rental fluctuations from tenant movements.

Growth via acquisitions. Its objective to expand asset base by $500m pa is within reach. In addition to the $119m worth of new buys, it has the first right of refusal and last look at CWT's assets within the first 3 years of listing. Of the 2.3-2.6msf pipeline, 1.2msf are scheduled to complete this year. Beyond this, CIT can tap from C & P Holdings' assets.

Inbuilt organic engine. It is well placed to leverage on the rising industrial market with inbuilt rental escalation clauses of 5-7% every 2-3 years. An estimated 78% of portfolio space is up for renewal in FY08, translating to a 4% organic increment to DPU.

The RNAV angle. A portion of CIT's assets can be redeveloped to maximize floor area. We reckon rebuilding only those properties with <1x plot ratio to their maximum potential, could raise total GFA by 34% and add 10cts or 15% to asset backing, based on current levels. More importantly, these additions do not incur corresponding land costs and returns from these improvements should further enhance overall portfolio yields. These have not been factored into our present estimates.

Attractive risk-reward ratio. CIT offers value in view of its high yield, low beta and defensive attributes. At low P/book NAV of 1.22x, little acquisition expectation appears to have been built into share price and any newsflow should likely surprise on the upside. At our DCF-based price target of $1.01, assuming increasing asset base by $500m over the next 12 months, yield would still be attractive at 5.9%. Recommend buy.

The first independent industrial Reit Cambridge Industrial Trust (CIT) is a Singapore-centric industrial property trust. Since listing with an initial portfolio of 27 properties, its stable of assets has grown to 31 properties totaling 5.4 msf GFA valued at $650m. In terms of GFA, the 5 largest assets account for 41% of portfolio value and 48% of gross floor area.

Diversified tenant mix and trade sectors. CIT's properties are fully occupied and well diversified amongst various trade sectors such as logistics, warehousing, light industrial and car showroom. This ensures a stable income stream. Its top 5 tenants CWT (including subsidiary Jurong Districentre), YCH, Lam Soon and ODC, contributes 53% of topline.

In addition, 45% of rental revenue comes from tenants which are SGX-listed/affliated tenants. Long lease terms, high income security. CIT has a defensive earnings profile. Revenue stream is highly visible given the long lease tenures, ranging from 5-10 years. Weighted average lease to expiry is at 7.9 years, far superior than the 6.3 and 5.9 years of its listed peers A-reit and Mapletree Logistics Trust respectively. In addition, CIT holds an average 14 months of security deposit from its tenants (or an average of 1.8 months per year), almost twice the industry norm of 1 month per year of lease.

Growth drivers in place

The key performance driver in the S-reit sector, apart from dividend yield, is total returns ie DPU growth via acquisition and organic expansion. In this respect, we see CIT as being well positioned to deliver these objectives through its ability to grow portfolio aggressively due to its relatively small size vis-à-vis other listed industrial reits and inbuilt step-up rental structure.

Our present FY07 and FY08 DPU estimate of 6cts and 6.4cts respectively translates to a 7-8% Cagr over the next 2 years. This is premised on revenue from the existing portfolio of leases as well as share of additional income from the $119m new acquisitions made known to date.

Acquisition growth opportunities exists

4 pillars to expand portfolio size. CIT's near term DPU growth would be driven by new purchases as the earliest rental reversions from existing leases are in 2008. To this end, the group has identified 4 strategic prongs to grow asset base, with the aim to increase its portfolio value by $500m pa. CIT's mandate allows it to acquire in Singapore as well as

around the region including Malaysia, China and Vietnam.

Announced $119m worth of new buys to date. Through leveraging on its network of contacts in Singapore, CIT had been able to grow its portfolio by 22% to $650m since listing in July 2006. More importantly, the average entry yield of 7% is earnings accretive when compared to the current implied return of 6.2% and WACC of 5.5%. These properties could add $9m or 20% to revenue annually. Moreover, these new purchases are at present financed through debt, which should enhance bottomline even further.

Post acquisition, gearing would rise close to 48%, above its target of 40% but still well below the 60% ceiling allowed for reits with ratings from a credit rating agency. (CIT has obtained a credit rating of 'BBB-' from Standard and Poor's International LLC). In view of this, an equity raising exercise cannot be ruled out, particularly when the group continues to acquire more properties.

Rewarding partnerships. Despite not having a developer sponsor, CIT's acquisition pipeline is visible. It has strategic tie-ups with 2 joint venture partners, CWT and Mitsui, that have proven rewarding as an acquisition source. In addition, CIT can also tap CWT's parent C&P Holdings' for potential targets.

First right and last look of assets from CWT. CIT has the first right to the properties owned by CWT, who is also its joint manager, with a 20% stake in CITM. Within CWT's pipeline, a total 2.3-2.6msf of new space under development is slated to be completed progressively over the next 2-18 months that could potentially be injected into the reit. Of these, 1.2msf comprising CWT Hubs 1 and 2 and CWT Cold Hub are anticipated to complete this year and could be potential targets for CIT. We estimate these could be worth $150m based on current market values. In the longer run, CWT Commodity Hub as well as the Shanghai logistics facility and properties from CWT's parent C&P Holdings, could form a possible pipeline for CIT's acquisition trail.

Its tie-up with partner Mitsui, which also owns 20% of CITM, can potentially reward with its strong Japanese network in Singapore and around the region. Mitsui is one of Japan's largest trading houses and a manager of a Japanese Reit. The Mitsui group and their partners' assets are part of the potential acquisition pipeline for CIT. To this end, a Mitsui manager, Tetsuya Karasawa, has been seconded to CIT's Board.

Low premium accorded for acquisition potential. The industrial space market in Singapore appears to be getting competitive with 4 listed reits and another one in the pipeline. Hence, the pace of acquisition and yields could moderate. However, we view CIT as being most defensive as little expectation had been imputed into share price on this front.

Its P/Book NAV of 1.22x is much lower than A-reit's and Mapletree Logistics' 1.64x. Moreover, its smaller size would mean a similar dollar acquisition would translate to a meaningful accretion in size compared to its larger peers. In addition, CIT's independent nature could be a boon as industrial developers and owners would not view CIT as a potential competitor for the same space.

Organic DPU growth from 2008

Rental cycle bottomed out. CIT is well placed to benefit from the industrial sector recovery through capital and rental value reflation. Its acquisition of industrial assets, at or close to the trough of the market, and the expected rise in capital values and leasing rates should impact positively on asset backing and earnings. According to property consultants, net new demand for industrial space of 10.4msf in 2006 is 27% higher than previous period and outstripped supply for third consecutive year. Average occupancy rate improved to 90.3%, pressuring rents by 4.2% in 2006. Rental levels and industrial property prices are projected to rise by a further 5-8% this year.

Structured rental growth to be felt from 2008. Most of CIT's contracts have inbuilt escalation clauses that provide room for organic growth.Typically, rates for a 5-year contract would be increased in Year 3 while those for a 7 and 8-year contracts would be increased in Year 3, 5 and 7. Organic growth should kick off strongly in FY08, at about 4% as 77-79% of revenue and NLA is due to reversions. Beyond this, growth is likely to average 2.5% pa from FY2009-2011.

The RNAV angle

Sizeable asset enhancement potential. A number of CIT's assets are currently underdeveloped. These buildings, if redeveloped to maximize plot ratio could add value to the asset. Assuming only the floor area of those properties that are below 1x plot ratio are maximized, this could add 1.83sf GFA or 34% to total floor space. In terms of value, these additions could increase asset backing by 10cts (+15%) based on current market values. More importantly, the new areas when leased, should generate much higher returns as they do not incur further land costs. As the time frame of these activities is uncertain, we have not factored it into our present estimates.

Experienced management

CIT is managed by Cambridge Industrial Trust Management (CITM), a 60/20/20 joint venture between Cambridge Real Estate Investment Management, CWT Distribution and Mitsui & Co. The amalgamation of manager shareholders with entrepreneurial skills, in-depth industry knowledge, regional logistics insights and Japanese network opportunities provides CITM with the management breadth and depth to drive shareholder value in the longer run.

Helming CITM is CEO Mr Ang Poh Seong, who was with property consultant Colliers International for 13 years. CIT is likely to benefit from his extensive experience and knowledge of the local property and industrial markets.

Salient concerns

Concerns of an overhang of vendor units exist but appear to have moderated. Vendor shareholders received units in CIT as part payment for the initial properties sold to the reit. These make up close to 37% of the total issued units. Since the cessation of the lock-up period at end Jan 2007, only a small number of these shareholders have pared down their holdings. While the concern of an overhang exists, we believe with the current economic pick-up and stronger balance sheet of the vendors, prospect of an overhang appears to have moderated.

Valuation

Highest yielding industrial reit. CIT offers FY07 yield of 7.3%, a wide spread of 90-290bps over its listed comparables - Macarthurcook Industrial, A-reit and Mapletree Logistics. This is an anomaly in view of its low beta and defensive attributes.

Downside risk is low. The stock is also attractively rated on a P/book NAV of 1.22x compared to the 1.56x of A-reit and Mapletree Logistics and 1.25x of newly listed Macarthurcook Industrial. This indicates a low expectation of acquisition growth had been imputed into current share price. Any newsflow on this front could provide an upside surprise.

30% absolute return from present level. Our DCF value assumes growing portfolio by $500m from its initial $530m and maintaining gearing level at 40%. Our price target, which is based on parity to DCF, translates to a potential absolute return of 30%. At the projected target price, FY07 yield would be 5.9%, still attractive to its comparables. Recommend buy.

-- Edited by tfwee at 17:37, 2007-04-23

-- Edited by tfwee at 22:04, 2007-04-25

-- Edited by tfwee at 16:04, 2007-07-19

tfwee · Veteran

Extracted from UBS Investment Research "Asian REIT Weekly" dated 9 April 2007.

Key Recommendation:

Stock: Cambridge
Rating: Buy 2
Price: $0.84
Price Target: $1.22
Upside to PT: 45.2%

Comment: Vendor unit overhang post escrow temporarily impacting price.

tfwee · Veteran

Cambridge Industrial Trust acquires 128 Joo Seng Road for S$10.0 million

Summary of Property Details
Purchase Price: S$10.0 million
Appraised value: S$10.2 million by Jones Lang LaSalle dated 6 December 2006 Title: Leasehold estate of 30 years + 30 years wef 1 May 1992
Land Area: 3,451.8 sq metres
Gross Floor Area: 8,519.64 sq metres
Occupancy: 100% Lease terms: Sale and leaseback to Seng Huat Packaging Pte Ltd for 7 years, with an option to renew for a further term of 3 years
Outgoings: Tenant pays for property maintenance
First Year Rent Per Annum: S$960,000
Tenant Trade Sector: Light Industrial

More more detail press release: click here

tfwee · Veteran

Announcement Date for Release of CIT s Unaudited Results for the 1st Quarter ended 31 March 2007

The Board of Directors of Cambridge Industrial Trust Management Limited, the Manager of Cambridge Industrial Trust ( CIT ) is pleased to inform that CIT s unaudited results for the 1st Quarter ended 31 March 2007 will be released on 26 April 2007.

By Order of the Board Cambridge Industrial Trust Management Limited Company Registration No. 200512804G (as Manager of Cambridge Industrial Trust)

tfwee · Veteran

SIGNING OF MEMORANDUM OF UNDERSTANDING AGREEMENT BY CAMBRIDGE INDUSTRIAL TRUST TO ACQUIRE 120 PIONEER ROAD SINGAPORE 639597

1. The Manager of Cambridge Industrial Trust ( CIT ), Cambridge Industrial Management Limited (the Manager ) , is pleased to announce that it has entered into a Memorandum of Understanding Agreement ( MOU ) with Compact Metal Industries Ltd ( CML ) to acquire 120 Pioneer Road Singapore 639597 (the Property ) at a purchase price of S$26.5 million.

2. The proposed purchase price is subjected to valuation and fulfillment of conditions precedent in the MOU with a leaseback of the Property for seven (7) years upon completion of the sale of the Property.

3. In relation to the initial public offering of CIT, the joint global co-ordinators and joint financial advisers were ABN AMRO Rothschild and CLSA Merchant Bankers Limited, and the joint lead underwriters and bookrunners were ABN AMRO Rothschild and CLSA Singapore Pte Ltd. The public offer co-ordinator and sub-placement agent was Philip Securities Pte Ltd.

By Order of the Board
Ang Poh Seong
Chief Executive Officer

tfwee · Veteran

These two days one of the Director of Cambridge REIT has sold all his share in the market. I wonder what is the reason for selling all his shares??? biggrin

In two days, sell 394000 shares.......

tfwee · Veteran

Notice Of A Director's (Including A Director Who Is A Substantial Shareholder) Interest And Change In Interest

>> PART I

1. Date of notice to issuer * 04-04-2007

2. Name of Director * Liao Chung Lik

3.	Please tick one or more appropriate box(es): *
	Notice of a Director's (including a director who is a substantial shareholder) Interest and Change in Interest. [Please complete Part II and IV]

>> PART II

1. Date of change of Interest 03-04-2007

2. Name of Registered Holder Liao Chung Lik

3. Circumstance(s) giving rise to the interest or change in interest Sales in Open Market at Own Discretion

# Please specify details

4. Information relating to shares held in the name of the Registered Holder

No. of Shares held before the change	270,000
As a percentage of issued share capital	0.05263 %

No. of Shares which are subject of this notice	270,000
As a percentage of issued share capital	0.05263 %

Amount of consideration (excluding brokerage and stamp duties) per share paid or received 0

No. of Shares held after the change	0
As a percentage of issued share capital	0 %

>> PART III

1. Date of change of [Select Option]

2. The change in the percentage level From % To %

3. Circumstance(s) giving rise to the interest or change in interest [Select Option]

# Please specify details

4.

A statement of whether the change in the percentage level is the result of a transaction or a series of transactions:

>> PART IV

1.	Holdings of Director , including direct and deemed interest :

	Direct	Deemed
No. of shares held before the change	270,000	0
As a percentage of issued share capital	0.05263 %	0 %
No. of shares held after the change	0	0
As a percentage of issued share capital	0 %	0 %

Footnotes

(i) Where reference is made to shares, it refers to the units in CIT.

(ii) The percentage figures shown above are calculated based on the units of 512,993,777 in CIT as at 03 April 2007.

(iii) Part II Item 4 -
Amount of consideration (excluding brokerage and stamp duties) per share paid or received:
100,000 units @ S$0.84 per unit
17,000 units @ S$0.87 per unit
65,000 units @ S$0.865 per unit
5,000 units @ S$0.865 per unit
83,000 units @ S$0.87 per unit

Note:

The Joint Global Co-ordinators, Joint Lead Underwriters and Bookrunners and Joint Financial Advisers for the IPO are ABN AMRO Rothschild and CLSA Merchant Bankers Limited.

This announcement has been prepared and released by Cambridge Industrial Trust Management Limited, as manager of Cambridge Industrial Trust. ABN AMRO Rothschild (being the unincorporated equity capital markets joint venture between ABN AMRO Bank N.V., Singapore branch, and N.M. Rothschild & Sons (Singapore) Limited, each trading as ABN AMRO Rothschild) and CLSA Merchant Bankers Limited, in their capacity as Joint Global Coordinators, are not required to and have not been involved in the preparation or release of this announcement and have not verified the accuracy, completeness or adequacy of the information contained herein. ABN AMRO Rothschild, CLSA Merchant Bankers Limited and CLSA Singapore Pte Ltd do not accept any responsibility for, and disclaim any liability with respect to, the accuracy, completeness or adequacy of the information contained in this announcement or incorporated by reference herein.

tfwee · Veteran

>> PART I

1. Date of notice to issuer * 03-04-2007

2. Name of Director * Liao Chung Lik

3.	Please tick one or more appropriate box(es): *
	Notice of a Director's (including a director who is a substantial shareholder) Interest and Change in Interest. [Please complete Part II and IV]

>> PART II

1. Date of change of Interest 02-04-2007

2. Name of Registered Holder Liao Chung Lik

3. Circumstance(s) giving rise to the interest or change in interest Sales in Open Market at Own Discretion

# Please specify details

4. Information relating to shares held in the name of the Registered Holder

No. of Shares held before the change	394,000
As a percentage of issued share capital	0.0768 %

No. of Shares which are subject of this notice	124,000
As a percentage of issued share capital	0.02417 %

Amount of consideration (excluding brokerage and stamp duties) per share paid or received 0

No. of Shares held after the change	270,000
As a percentage of issued share capital	0.05263 %

>> PART III

1. Date of change of [Select Option]

2. The change in the percentage level From % To %

3. Circumstance(s) giving rise to the interest or change in interest [Select Option]

# Please specify details

4.

A statement of whether the change in the percentage level is the result of a transaction or a series of transactions:

>> PART IV

1.	Holdings of Director , including direct and deemed interest :

	Direct	Deemed
No. of shares held before the change	394,000	0
As a percentage of issued share capital	0.0768 %	0 %
No. of shares held after the change	270,000	0
As a percentage of issued share capital	0.05263 %	0 %

Footnotes

(i) Where reference is made to shares, it refers to the units in CIT.

(ii) The percentage figures shown above are calculated based on the units of 512,993,777 in CIT as at 02 April 2007.

(iii) Part II Item 4 -
Amount of consideration (excluding brokerage and stamp duties) per share paid or received:
100,000 units @ S$0.83 per unit
24,000 units @ S$0.835 per unit

Note:

The Joint Global Co-ordinators, Joint Lead Underwriters and Bookrunners and Joint Financial Advisers for the IPO are ABN AMRO Rothschild and CLSA Merchant Bankers Limited.

This announcement has been prepared and released by Cambridge Industrial Trust Management Limited, as manager of Cambridge Industrial Trust. ABN AMRO Rothschild (being the unincorporated equity capital markets joint venture between ABN AMRO Bank N.V., Singapore branch, and N.M. Rothschild & Sons (Singapore) Limited, each trading as ABN AMRO Rothschild) and CLSA Merchant Bankers Limited, in their capacity as Joint Global Coordinators, are not required to and have not been involved in the preparation or release of this announcement and have not verified the accuracy, completeness or adequacy of the information contained herein. ABN AMRO Rothschild, CLSA Merchant Bankers Limited and CLSA Singapore Pte Ltd do not accept any responsibility for, and disclaim any liability with respect to, the accuracy, completeness or adequacy of the information contained in this announcement or incorporated by reference herein

KK · Guru

1. Date of notice to issuer * 29-03-2007

2. Name of Substantial Shareholder * CWT Limited

1. Date of change of Interest 29-03-2007

2. The change in the percentage level From 5.743 % To 5.46 %

3. Circumstance(s) giving rise to the interest or change in interest Sales in Open Market at Own Discretion

# Please specify details

4.

A statement of whether the change in the percentage level is the result of a transaction or a series of transactions:

The change in the percentage level is the result of a series of transactions that occurred between 28 March 2007 and 29 March 2007.

No. of shares held before the change	29,411,765	22,058,824
As a percentage of issued share capital	5.73 %	4.3 %
No. of shares held after the change	28,000,000	22,058,824
As a percentage of issued share capital	5.46 %	4.3 %

-- Edited by KK at 01:48, 2007-03-31

tfwee · Veteran

Completion Of Acquisition Of 97 Whole Strata Lots Located At Lam Soon Industrial Building 63 Hillview Avenue Singapore 669569 For S$72.2 Million

1.Cambridge Industrial Trust Management Limited, as manager of Cambridge Industrial Trust ("CIT", and manager of CIT, the "Manager"), is pleased to announce the completion of the acquisition of 97 whole strata lots located at Lam Soon Building 63 Hillview Avenue Singapore 669569 (the "Property") today for a purchase price of S$72.2 million.

2. RBC Dexia Trust Services Singapore Limited as trustee of CIT (the "Trustee") had on 1 March 2007 exercised the call option under the put and call option agreement dated 26 December 2006 (the "Option Agreement"), entered into between the Trustee and Lam Soon Realty Private Limited ("Lam Soon") in connection with the sale and purchase of the Property. Pursuant to the Trustee's exercise of the call option under the Option Agreement, the sales and purchase agreement for the Property was signed on the same date as the call option was exercised.

3. The purchase price and other acquisition costs of the Property are funded by debt.

4. In relation to the initial public offering of CIT, the joint global co-ordinators and joint financial advisers were ABN AMRO Rothschild and CLSA Merchant Bankers Limited, and the joint lead underwriters and bookrunners were ABN AMRO Rothschild and CLSA Singapore Pte Ltd. The public offer co-ordinator and sub-placement agent was Philip Securities Pte Ltd. By Order of the Board Shirley Lim Company Secretary Cambridge Industrial Trust Management Limited (Company Registration No. 200512804G) As Manager of Cambridge Industrial Trust

KK · Guru

Cambridge REIT - Philip

tfwee · Veteran

RE: Cambridge REIT

tfwee · Veteran

Exercise Of Call Option In Connection With The Sale And Purchase Of 97 Whole Strata Lots Located At Lam Soon Industrial Building 63 Hillview Avenue Singapore 669569

tfwee · Veteran

KK wrote:

The first one you posted is for their IPO allotment and the 2nd one is for purchases done in Aug-06. See,

PART III 1. Date of change of Deemed Interest

I wonder why they didn't submit their announcements earlier! But, I won't be surprised if they hv started buying recently as I noticed that the selling by Brilliant is well absorbed.

Thank for the information. At least now I know where to look for the correct information already. :)

KK · Guru

tfwee wrote:

Capital Group has been buying Cambridge share these two days from 0% to around 6% now.

The first one you posted is for their IPO allotment and the 2nd one is for purchases done in Aug-06. See,

PART III 1. Date of change of Deemed Interest

I wonder why they didn't submit their announcements earlier! But, I won't be surprised if they hv started buying recently as I noticed that the selling by Brilliant is well absorbed.

tfwee · Veteran

Capital Group has been buying Cambridge share these two days from 0% to around 6% now.

tfwee · Veteran

PART I
1. Date of notice to issuer * 21-02-2007
2. Name of Substantial Shareholder * The Capital Group Companies, Inc. ("CGC")
3. Please tick one or more appropriate box(es): *

Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest. [Please complete Part III and IV]

PART II
1. Date of change of [Select Option]
2. Name of Registered Holder
3. Circumstance(s) giving rise to the interest or change in interest [Select Option] # Please specify details
4. Information relating to shares held in the name of the Registered Holder No. of [Select Option] held before the change As a percentage of issued share capital % No. of N.A. which are subject of this notice As a percentage of issued share capital % Amount of consideration (excluding brokerage and stamp duties) per share paid or received No. of N.A. held after the change As a percentage of issued share capital %
PART III 1. Date of change of Deemed Interest 22-08-2006
2. The change in the percentage level From 5.3252 % To 6.0139 %
3. Circumstance(s) giving rise to the interest or change in interest # Others # Please specify details Shares were purchased through open market transactions at shareholder discretion.
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: The change in the percentage level is the result of a series of transactions.
PART IV
1. Holdings of Substantial Shareholder , including direct and deemed interest :

Direct Deemed No. of shares held before the change 0 26,470,000
As a percentage of issued share capital 0 % 5.3252 %
No. of shares held after the change 0 29,893,000
As a percentage of issued share capital 0 % 6.0139 %
Footnotes
(i) Where reference is made to shares, it refers to the units in CIT.
(ii) The percentage figures shown above are calculated based on the units of 497,068,554 in CIT as at 22 August 2006.

Note:

The Joint Global Co-ordinators, Joint Lead Underwriters and Bookrunners and Joint Financial Advisers for the IPO are ABN AMRO Rothschild and CLSA Merchant Bankers Limited.

This announcement has been prepared and released by Cambridge Industrial Trust Management Limited, as manager of Cambridge Industrial Trust. ABN AMRO Rothschild (being the unincorporated equity capital markets joint venture between ABN AMRO Bank N.V., Singapore branch, and N.M. Rothschild & Sons (Singapore) Limited, each trading as ABN AMRO Rothschild) and CLSA Merchant Bankers Limited, in their capacity as Joint Global Coordinators, are not required to and have not been involved in the preparation or release of this announcement and have not verified the accuracy, completeness or adequacy of the information contained herein. ABN AMRO Rothschild, CLSA Merchant Bankers Limited and CLSA Singapore Pte Ltd do not accept any responsibility for, and disclaim any liability with respect to, the accuracy, completeness or adequacy of the information contained in this announcement or incorporated by reference herein.

-- Edited by tfwee at 18:11, 2007-02-27

tfwee · Veteran

Notice Of A Substantial Shareholder's Interest

>> PART I
1. Date of notice to issuer * 21-02-2007
2. Name of Substantial Shareholder * The Capital Group Companies, Inc. ("CGC")
3. Please tick one or more appropriate box(es):Notice of a New Substantial Shareholder's interest. [Please complete Part II and IV]
>> PART II
1. Date of change of Deemed Interest 25-07-2006
2. Name of Registered Holder Raffles Nominees Pte Ltd
3. Circumstance(s) giving rise to the interest or change in interest # Others # Please specify details Participation in the Initial Public Offering. 4. Information relating to shares held in the name of the Registered Holder
No. of Shares held before the change 0
As a percentage of issued share capital 0 %
No. of Shares which are subject of this notice 26,470,000
As a percentage of issued share capital 5.3252 %
Amount of consideration (excluding brokerage and stamp duties) per share paid or received 0.6800
No. of Shares held after the change 26,470,000
As a percentage of issued share capital 5.3252 %
>> PART III
1. Date of change of [Select Option]
2. The change in the percentage level From % To %
3. Circumstance(s) giving rise to the interest or change in interest [Select Option] # Please specify details
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions:
>> PART IV
1. Holdings of Substantial Shareholder , including direct and deemed interest :

Direct Deemed No. of shares held before the change 0 0
As a percentage of issued share capital 0 % 0 %
No. of shares held after the change 0 26,470,000
As a percentage of issued share capital 0 % 5.3252 %
Footnotes
(i) Where reference is made to shares, it refers to the units in CIT.
(ii) The percentage figures shown above are calculated based on the units of 497,068,554 in CIT as at IPO.

Note:

The Joint Global Co-ordinators, Joint Lead Underwriters and Bookrunners and Joint Financial Advisers for the IPO are ABN AMRO Rothschild and CLSA Merchant Bankers Limited.

This announcement has been prepared and released by Cambridge Industrial Trust Management Limited, as manager of Cambridge Industrial Trust. ABN AMRO Rothschild (being the unincorporated equity capital markets joint venture between ABN AMRO Bank N.V., Singapore branch, and N.M. Rothschild & Sons (Singapore) Limited, each trading as ABN AMRO Rothschild) and CLSA Merchant Bankers Limited, in their capacity as Joint Global Coordinators, are not required to and have not been involved in the preparation or release of this announcement and have not verified the accuracy, completeness or adequacy of the information contained herein. ABN AMRO Rothschild, CLSA Merchant Bankers Limited and CLSA Singapore Pte Ltd do not accept any responsibility for, and disclaim any liability with respect to, the accuracy, completeness or adequacy of the information contained in this announcement or incorporated by reference herein.

-- Edited by tfwee at 12:34, 2007-02-26

KK · Guru

Brilliant ceases to be a substantial shareholder (less tahn 5% now) and there'll be no more need for them to announce their sales fm now,

1.Date of notice to issuer *08-02-2007
2.Name of Substantial Shareholder *Brilliant Manufacturing Limited

1.Date of change of Interest 07-02-2007
2.The change in the percentage level From 4.26 % To 3.75 %
3.Circumstance(s) giving rise to the interest or change in interest # Others
# Please specify details Sales in open market.
4.A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: The change in the percentage level is the result of a series of transactions that occurred between 6 February 2007 and 7 February 2007.

No. of shares held before the change 21,855,883 5,647,060
As a percentage of issued share capital 4.26 % 1.10 %
No. of shares held after the change 19,255,883 5,647,060
As a percentage of issued share capital 3.75 % 1.10 %

-- Edited by KK at 21:52, 2007-02-08

KK · Guru

More selling by Brilliant,

1.Date of notice to issuer *06-02-2007
2.Name of Substantial Shareholder *Brilliant Manufacturing Limited

1.Date of change of Interest 05-02-2007
2.The change in the percentage level From 4.71 % To 4.26 %
3.Circumstance(s) giving rise to the interest or change in interest # Others
# Please specify details Sales in open market.
4.A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: The change in the percentage level is the result of a series of transactions that occurred between 2 February 2007 and 5 February 2007.

No. of shares held before the change 24,155,883 5,647,060
As a percentage of issued share capital 4.71 % 1.10 %
No. of shares held after the change 21,855,883 5,647,060
As a percentage of issued share capital 4.26 % 1.10 %

-- Edited by KK at 19:10, 2007-02-07

KK · Guru

More selling by Brilliant,

1.Date of notice to issuer *02-02-2007
2.Name of Substantial Shareholder *Brilliant Manufacturing Limited

1.Date of change of Interest 01-02-2007
2.The change in the percentage level From 5.10 % To 4.71 %
3.Circumstance(s) giving rise to the interest or change in interest# Others
# Please specify details Sales in open market.
4.A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: The change in the percentage level is the result of a series of transactions that occurred between 31 January 2007 and 1 February 2007.

No. of shares held before the change 26,155,883 5,647,060
As a percentage of issued share capital 5.10 % 1.10 %
No. of shares held after the change 24,155,883 5,647,060
As a percentage of issued share capital 4.71 % 1.10 %

-- Edited by KK at 00:21, 2007-02-03