StarhillGbl Reit FY2017/2018 Results

Starhill Global Reit Released it's latest 4th Quarter and Full Year Results ending FY2017/2018. DPU Q-on-Q remain flat. Full year DPU at 4.55cents versus my earlier estimate of 4.56cents. Positve - Office at 95% occupancy rate, up from 91% in 3rd Quarter. - AEI at Plaza Arcade is completed. From my estimate, it should provide a increase of 0.17cents of DPU for FY2018/2019. UNIQLO to...

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Taking a look at EC World Reit(ECW)

Risk Master Leases Has short master leases expiring in 2020. This give an uncertainly to the Reits as it affects about 20% of DPU. However, impacted properties are leased to subsidiaries of the sponsor, so does that means that master lease can be renew. But still a positive or negative rental revision is unknow. Without master leases, current yield will drop from 8.6% to 7.1% Short lease...

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My take on Starhub

With an EPS 14.1cents and a historical payout ratio of 90%. dividend should be cut to 12.7cents. with a 6.5% yield, market price should be at S$1.95  Do be even more conservative, if we stick to Singtel's payout of 75%. dividend should be at 10.6cents. with a 6.5% yield, market price should be at S$1.65. If the earnings maintain which by itself is a challenge.   With their debt...

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Looking Back on Recent Transactions

  Raffles Medical Group(RMG) with an average price of S$1.12, I have sold it at $1, yep and bought back some at S$1.05. I realized I must have some holdings of it. So what did I do after selling RMG? I bought  Valuetronic which finally ease its drop at S$0.70 and $0.635, together an average price of  $0.67. And I also bought Hong Kong listed Beijing Capital International Airport...

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Ascendas Hospitality Trust AGM 2018

Most of the milestones for Ascendas Hospitality Trust(AHT) during the presentation had been addressed in my previous posts.Some notable tidbits from the presentations by the CEO: Financial cost effective interest rate drop to 2.7%, interesting since interest rate is increasing. DPU increase 3.2% (from that one time look fee) Retained earnings is 7% in FY16/17 vs 5% in FY 15/16 156 Million Debt...

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The Property Stocks GSS 2018

  The Govt suddenly increased the stamp duty for properties buyers on the 6th of July 2018. My first black swan event as I hold Roxy Pacific, it when down as low as 11%. I expect property stock to be down but it still shock me as the fall is huge. Still I thought it is a chance of grabbing cheap stocks. The market opened, my mind was in shock at the terrible double digit fall. For a few minutes,...

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