I plan to buy REIT when i get my salary this month, So far i have looked at Amfirst, UOAREIT, Axreit and ATRIUM.

I see potential in Axreit because they are positioned better in a recovering economy, Any comment for those other 3?

Company resolution is passed on the basic of majority of shareholders agree aka on the basic of majority in shareholding.

Unless in certain special circumstance like going to be implemented "asset and liabilities" sale/disposal ruling proposed by SC, which need higher watermark or some special circumstances that majority shareholders can't vote due to legislation or ruling incurred (which to protect the minority shareholders interest issue one), most resolution are passed based on majority in shareholding.

Ho Hup tussle has a lot of number of shareholding as both parties didn't hold the majority stake of 51%. They need other shareholders to vote favourable them to win in the EGM.

The % of shareholding dictates whether the resolution proposed can be go through or not.

Normally voting will be by a show of hands and, as such, each shareholder has only one vote irrespective of the number of shares held, but a shareholder can demand that a “poll” vote is taken and a poll vote will count votes in proportion to the number of shares held by each shareholder.

Ho Hup tussle is a tricky business. As the EGM demand, it can't appoint proxy unless it's a lawyer. This is a clearly breach of Company Act where is a shareholder can appoint proxies if they can't attend meetings. Also noted that the ex-management didn't take part in it, as does SSM doesn't endorse it. In short, it's clearly out of favour for minority shareholder.

Yup.

The vote by hands is to reduce the red tape and hassle of need to verify shareholding when voting, it is just for simplitic solution, nobody want to wait hours for verify and calculate the shareholding in voting most ordidnary resolution which generally not much issue or disagreemnt to start with.

But it doesn't mean more hands will win either, as take this scenario like Stareit.
Even there are plenty of Staretit minority disapprove the sale of Lot 10 and Starhill, it cannot stop the resolution to pass through as well. As YTL as the major shareholder (99% chance) will request the resolution to be passed on the basic of shareholding number to pass through the resolution. After all, this is what they proposed one.

By no mean, I discourage or encourage shareholders to vote against or for this resolution. Don't get me wrong.

Vote according to you like/wish in the resolution should be one adopted disregard the outcome of it.

News on sunway reit

Sunway City Bhd (SunCity) has entered into an agreement with the Government of Singapore Investment Corp Ltd (GIC), whereby GIC has agreed to acquire 134mil units or 5% of the proposed listing of Sunway Real Estate Investment Trust (REIT) at the lower of the institutional price and 98 sen per unit. SunCity had also on 27 May 2010 entered into an underwriting agreement with Sunway REIT Management Sdn Bhd, OSK Trustees Berhad (on behalf of Sunway REIT), RHB Investment Bank (as the coordinator) and RHB Investment Bank, CIMB Investment Bank Berhad and Maybank Investment Bank Berhad (as Joint Underwriters), to severally but not jointly underwrite the offering of 134mil units, subject to clawback and reallocation, to the Malaysian public. There will be no public offering of the REIT in the United States

http://biz.thestar.com.my/news/story.asp?f...24&sec=business

No offering in states, Means less foreign fund ?

If there is enough of minority against the proposal, it only take 18% to reject it.
YTL as RRPT is forbidden to vote. And Poll depends on whether it's call.
Let see what happen tomorrow, we'll never know what happen.

Rather disappointing Q1'2010 results just released from UOAREIT. Had a feeling things were amiss after the long wait for results. Fortunately, the share price still holding steady at 1.40. Anyone else holding UOAREIT?

STAREIT can be consider. Reason: LOT 10 & Starhill have sold to starhill global singapore, now their hand holding big money, may have suprise news.

I love Reit too

No surprise, actually. It's not new and it's very clear that Francis Yeoh is going to buys hotel from YTL.
Some EGM info: http://investalks.com/viewthread.php?tid=2983

How they play the hotel & how the result is the real surprise. We never know. That what I mean hihi


This post has been edited by RobinHood888: Jun 1 2010, 04:44 PM

If you look at YTL corp hotel segment, you may get some figures.
And there will be next EGM, that is the important one.
By the time they push for the next EGM,
we as unitholder will get circular which list down those assets and their earnings.

Not a surprise, you will know it next few month.

About Atrium, has anyone received any news about the renewal tenancy for DHL and Danzasmal Domestic Logistics Services ? Their near 10 year tenancy is expiring within these few months and almost 75% of Atrium tenancies are expiring by next year. It shouldn't take that long to decide to stay or to move....

Thinking I am going to call the tenant tomorrow for tips.

already know mean not a surprise,
surprise mean we dont know yet. haha

We never know the future. Maybe new concept of hotel or resident? etc, etc.
The question. Stareit with new hotel business beneift will be higher than the LOT10 & Starhill or not?

Some REIT news worth reading......take a look please.....




Starhill REIT Unitholders Approve Disposal Of Starhill Gallery and Lot 10 Shopping Centre
Starhill REIT unitholders yesterday approved the disposal of Starhill Gallery and Lot 10 shopping centre in Kuala Lumpur for RM1.03b.The disposal of the two properties to Ara Bintang is part of a rationalisation exercise to reposition Starhill REIT as a hospitality REIT, the first of its kind in Malaysia. The sales exercise, is to be completed by 3Q10, will be satisfied by both RM625m cash and Singapore dollar denominated convertible preference units in Starhill Global REIT worth RM405m.



Sunway REIT To Sell 1.65b Units In IPO
Sunway Real Estate Investment Trust (Sunway REIT) plans to sell 1.65b units in its initial public offering at an indicative offer price of RM1.00, according to a draft prospectus released Wednesday. The IPO will be the largest so far this year in Malaysia and will make Sunway REIT the country’s biggest REIT with an estimated market capitalization of RM2.6b, well ahead of the current leader Starhill REIT, which has a market value around RM1b. 1.52b units will be sold to Malaysian and foreign institutional investors at an indicative offer price of RM1.00, with the final price to be determined after a bookbuilding exercise. The remaining 134m units will be offered to retail investors at RM0.97, or 97% of the final institutional price, whichever is lower. Bookbuilding is targeted to start June 10, while the retail offering is expected to open June 15. The final pricing will be determined on June 24. Sunway REIT is then expected to make its Bursa Malaysia debut on July 8.

Sunway Reit at Rm 1 per share, Think it is a fair price given its large asset like sunway pyramid

Just to stir the water about Atrium, called DHL Shah Alam this morning and have a chat with a staff there, seems they have not heard about the possibility about their relocation. On the other hand nowhere could reach Danzasmal.

It's already known.
It's already said and written.
No new hotels except for YTL corp ones.
There isn't much hotels at YTL corp, and I can name few:

Pangkor Laut's, Vistana's, Ritz-Carlton's , Tanjong Jara's, Cameron's,Niseko's etc.
I personally expect 60 mil for it.

This post has been edited by wwloon32: Jun 3 2010, 11:51 PM

Another new private placement by Axreit to acquire 2 new industrial properties.

http://biz.thestar.com.my/news/story.asp?f...78&sec=business

I am new in REIT too. Where to find the market price & history data? Do i need to open some sort of account to buy? Is it in Bursa website? Please help, all taiko.

Boss, If you could check at page B5 at the star market today, There is a list of REIT in malaysia together with its dividend, I checked at their company website and OSK research platform but couldnt come up with the dividend figure. Is there a trick to see how it tally up?