A day at Funan Mall

Today I went to Funan to see see look look. The crowd is still heavy on the 2nd weekend of opening. It has a mix of different tenants, the basement and the outer tenants at the first stories are of F&B with a few at the different floors and the roof garden. Can see that management is trying to differentiate itself from raffles city.

I didnt plan to make a blog at first so did not take much photos of shop fronts.

 

First floor is a mix of different shops like UnderArmour, McDonald, Dyson. The entrance via the 2nd floor from the escalator bring you to Gong Cha and a Food alley. 3rd floor is the IT level with major player Best Denki and Courts, strangely no challenger. Other shops include some 3rd party shops selling laptops and IT gadget, dedicated Apple, Dell and Lenovo stores were spotted. And the DSLR camera shope are back namely Alan Photo and TK Foto. There is also a Bose and Audio Technica stores, game shops as well as a collectibles store. GV is at the 5th floor.

 

 

 

 

Took some shots on WeWorks

 

Afuri Ramen
Dinner time and F&B are packed. the queue to Afuri is crazy. 

Tatsu Japanese Soba Noodles
Strangely, the queue is short a Michelin Ramen outlet located right outside the main entrance. The waiter is a japanese, and so is the cook. Show how much effort the brand puts into. Onsen egg is watery unlike some other place which is half cooked. Gyoza is generously filled up, the melon tea is wonderful. Order a shouyu ramen but does not taste salty. There is a taste of medical herb and truffle due to the leek which is cooked in truffle.

Urban Farm/Sky Garden
Nothing much to say about the farm but the garden is pretty with a restaurant and a football school for kids and the amazing night view.

Tiong Bahru Bakery
Located at the 4th floor, I ordered an chocolate eclair that taste bitter and a cup of Lemon ginger mint tea, a challenge as I hate ginger.  when served it tasted mainly of mint. Never visit the orignal, so could not make a comparision but the pastry sure is expensive.

 

I definitely like the place. Most F&B are new that never heard before. Even Starbuck has to make way for a new coffee cafe. Will visit again some times. With Sim Lim closing down, this should be the next place to go for computers and cameras.

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REITS, Holding It Versus Buy Low Sell High

I always wonder if a holding a REIT is better or selling when the profit is  hit 3 years of dividend or more, that is profit is 3x the yield. The same question also pop up in InvestingNote, especially when prices has been going up all time high with current yield dropping below 5%. In this post, I will try to plot out and compare the difference in gain for Holding vs. Buy low sell high (BLSH).

Fun Fact
Just before the GFC, CMT was trading at $3.5 with a yield of about 3.8%, CMT current yield is 4.8%, high but not crazy high yet. During GFC, CMT issue 9 for 10 rights, which mean when adjusted for the rights, CMT is now worth $4.52 pre-crsis.

Mapletree North Asia Commercial Trust  
Buy Criteria: 7% Yield
Sell Criteria: 3 years worth of dividend from Gain

Ascendas Hospitality Trust  
Buy Criteria: 7% Yield
Sell Criteria: 3 years worth of dividend from Gain

CapitaR China Trust
Buy Criteria: 7% Yield
Sell Criteria: 3 years worth of dividend from Gain

Capitamall Trust
Buy Criteria:Close to 6% Yield
Sell Criteria: 3 years worth of dividend from Gain

Mapletree Commercial Trust  
Buy Criteria: 6.5% Yield
Sell Criteria: 3 years worth of dividend from Gain

Conclusion
No one Reit is the same, investor's reaction to the price differ as well. Comparison show that one is better off holding AHT and CMT as the difference is minimal and CMT is definately a HOLD rather and BLSH. The comparison is base on hindsight so there are rooms for error in executing as well as broker's fees. 

For MNACT, there is a substantial gap in gains. 90% vs 112%, BLSH is the winner. 

MCT show a unique situation. The price never come down low enough to reach 6% yield  and rebound at 5.9% after selling off in 2016. LOL, if one stick to the TP, he would have missed the boat since 2016. However, he will be rewarded handsomely if he did catch in at the low. gain will turn out to be 120% vs 48.8% total gain. It's tought to be right all the time.

So in conclusion, It is better off to hold on to your REIT unless there is a better investment (Just sold FLT for First Riet) or when the price is so high that the yield has reached GFC level of below 4% yield.Human nature, even with the comparison proof that holding is the better strategy , I am still tempted to sell! the immediate gratification! I need to find a way stop my hand from the sell button!

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