It says "on or about 29 July 2010." So may be today.

Normally after market closed.

BTW, brother cherroy, you being the SIFU of REITS, could you please comment if it's worthwhile to keep STAREIT or change to other better performing & better managed REITS.    I read somewhere that
hotel reits are a bit out of the way compared to REITS that had shopping malls in their portfolio.......yes, that's what's happening to STAREIT.......yes, STAREIT had 2 big shopping malls [earning good rental in busy BB] in it's   
previous portfolio but sold the GOLDEN GOOSE so to say.
Thank you so much in advance brother cherroy........cheers...you take good care too brother.

Until Stareit completed the rationalisation become a hospitality reit which there are newer properties that not yet known, it is pre-mature to comment.

The only thing we can say is that current Stareit market price is traded at a discount to its NAV.

NAV around Rm1.2x, reit market price 0.88.

so can spend all of us dinner ? lol , congrats

SELANGOR State Development Corp (PKNS) has identified 16 high-profile projects worth RM10 billion for future injection into its real estate investment trust (REIT), its chief said.

PKNS general manager Othman Omar said six of the projects have been confirmed. They are Datum Jelatek in Kuala Lumpur, PJ Elevated City, PJ Sentral Garden City and Kelana Sports City in Petaling Jaya, Selangor Science Park 2 in Sepang and the proposed Healthcare City.

Othman said the development site for the remaining 10 projects is expected to be finalised soon.

PKNS aims to launch a REIT soon and it plans to initially inject Menara PKNS in Section 7, Petaling Jaya, Kompleks PKNS and SACC Mall in Shah Alam, with net value of over RM270 million.

"We are excited about the REIT because the proposed injection is a strategic exercise which enables us to leverage on three prime assets to recapitalise," Othman said in an interview with Business Times.

He said the average yield expected from the three properties after a revision to the rental agreements is 7-8 per cent.

Othman said the ability to realise the latent value of PKNS properties will mean a capital gain of RM80 million, RM162 million in cash and a subsequent 30 per cent stake in Amanah Raya's Real Estate Investment Trust (ARREIT).

"Assuming that dividend yield holds constant at 8.5 per cent, we should be looking at RM16 million in additional revenue per year, which bodes well for our liquidity," he said.

PKNS hopes to complete the exercise by the fourth quarter of this year.

Othman said in the medium to long term, PKNS will work with its partners to build and strengthen the asset base of its REIT investments, and when viable, inject more high-profile projects in the Klang Valley to increase the profile and attract foreign investors and fund managers to the investment potential.

He added that with new projects in place, PKNS foresees ARREIT to grow above RM1.5 billion in the next three to four years.

"We are launching the REIT as part of our strategy to transform PKNS group-wide, and a key aspect of that strategy calls for a rationalisation of our assets.

"REITs allow us a ready and stable way to unlock the latent value in these properties and provide significant additional capital which will allow us to be more competitive.

"This is addition to the alternative revenue stream we hope to create in the form of dividends, and the diversifying of our portfolio into properties outside of the state," Othman said.

He is optimistic with the future prospects and development of the REIT industry.

"Malaysia's REITs market is poised with more potential given that it is still relatively limited in terms of diversity, and there remains a lot more areas in which we can explore.

"For example, Hong Kong has long included government premises and even urban car parks in its REITs, given its very real returns ability. Some 40 per cent of Japan's REITs are retail based, and its 25 per cent in Singapore. These are all areas we can look at," he said.

Thursday September 2, 2010 MYT 1:55:00 PM
ARReit expects to grow assets to RM1.8bil next year

KUALA LUMPUR: Malaysia's fourth largest Real Estate Investment Trust (REIT), Amanah Raya Real Estate Investment Trust (ARREIT), expects its assets to grow 40% to RM1.8bil next year from RM1bil currently.

Amanah Raya Bhd(ARB)group managing director Datuk Ahamd Rodzi Pawanteh said this year it would increase the total asset value to RM1.3bil, with the injection of three properties owned by the Selangor State Development Corporation (PKNS).

"This will be our fourth injection and the final acquisition for this year since our inception with RM340mil in 2007," he told reporters at the signing ceremony of REIT agreements between Amanah Raya Bhd and PKNS here today.

Ahmad Rodzi said the total acquisition price for the properties, Menara PKNS, Kompleks PKNS and SACC Mall, was RM270mil, to be satisfied via a combination of consideration units to PKNS and cash.

Upon completion of the Sales and Purchase Agreement (SPA) and Share Agreement, PKNS is expected to own approximately 30% of ARREIT, while ARB's ownership will be approximately 33%, he explained.

He said that in respect of the Malaysian REITS market share, ARREIT expects to be the third largest in terms of REIT's property value after the completion of the exercise. "We are going to be number three, behind Sunway REIT and Capital Mall REIT," said Ahmad Rodzi.

ARREIT was the first government-linked company REIT listed on Bursa Malaysia in February 2007.

Asked if ARREIT was looking at venturing into the overseas market, he said, it would only be possible when it had a sufficient REIT's asset base.

In conjunction with the property acquisition, both parties also entered into separate lease agreements for each of the three properties, whereby PKNS would lease the properties from ARREIT for a period of 12 years.

This will ensure 100% occupancy of the properties and provide immediate rental income to ARREIT, upon completion of the acquisition exercise.

Meanwhile, PKNS General Manager Othman Omar, said the organisation was very excited over the exercise. "We believe is a win-win transaction for all parties, underpinned by mutually beneficial commercial objectives," he added.

PKNS, he said, would be able to unlock the market value of the three properties to be injected into ARREIT. "At the same time, it will also gain additional exposure to ARREIT's existing portfolio of 15 property assets, via our future ownership of approximately 30% of ARREIT," Othman said.

He also highlighted that PKNS would earn recurrent income from its investment in ARREIT, which it viewed as a high-quality Bursa Malaysia-listed real estate investment trust, with strong growth potential. - BERNAMA

errr...i believe sharesa is a SHE. 

For yield increasing yearly....well, in good condition, yes. However, that just mean if you buy it for current price. If the yield increase, normally the share price will also increase, that makes the future investors' (or if you accumulate more in the future) yield looks thinner. 

     Saturday, July 3, 2010
SUNWAY REIT IPO:THE BIGGEST RIPPED OFF IN BURSA MALAYSIA

Why you should sell Sunway REIT when it starts to rally on July 8 (listing day)?



•Jeffrey Cheah is selling his stake in Sunway REIT to "shift his focus" away from Malaysia, which FDI is dwindling at worrying rate. He knows that the Malaysian economy is going down the drain sooner or later.If it's so good,why sell it to the public?More shopping centres will flood the market in the next 2 years but the prospectus never mentioned it.


•Dividend rate is so low at 6.7% compared to other Malaysian REITs.Average dividend by other REITs is at 8.5%. Hence,the share price will normalise (drop) to follow the other Malaysian REITs. Remember to sell it on July 8.


•Sunway REIT have very large space in Sunway/USJ. Where is Sunway located? It is a suburban satelite city far away from KL city centre. So,yield at 6.7% is not justified at all.Give me a yield of 10% and I may consider it.


•What is the future expansion plan of Sunway REIT?What Sunway REIT is gonna buy to increase its NAV ? If the NAV is appreciating at inflation rate while the buildings are depreciating at even faster rate,the dividend yield may be affected due to high repair and maintainence cost.



Why bother to buy Sunway REIT?I rather buy KLCC Property Holdings which is more secured and expanding.

SUNWAY Real Estate Investment Trust is the biggest ripped off IPO in Southeast Asia this year.

My last ARREIT lots bought @ 8.45-8.5 in June 2010. However, during that time no news. Now ARREIT got in the limelite so I think it should still keep above 0.88 for some time until the next big REIT comes along.

Maybank actually only raise 3 cents up from 1.16 to 1.19. However, of the help from cmmt and sunreit's great marketting, reit gains a lot more attentions. Just wondering what could be a stable price for Arreit for now. 

Also, one thing I hate about AXIS is that when the company raise money to acquire new properties, they do not offer the new shares to the existing share holders. I never was offered. Then when the “deal” is done, there is an increased in the number of total shares in the company with each new acquisition! How was the shares sold? A big question mark?

I think what monkeyking said is to give it for FREE. Since the profit for each unit has been diluted because of increment of units, the company suppose to give for free to existing holders such as free BI or RI offers to shareholders on good performing ordinary stocks.

And ya, I also quite piss off as so far I see ALL reits don't give free gifts to shareholders. 

REIT Financial News - 9 SEP 2010: Notice of rights issue books closure date for AIMSAMPIReit


NOTICE OF RIGHTS ISSUE BOOKS CLOSURE DATE for AIMSAMPIReit. See press release.

Key Points

    * Eligible Unitholders will receive their Rights Entitlements on a basis of seven (7) Rights Units for every twenty (20) existing Units held by each Eligible Unitholder as at the Rights Issue Books Closure Date.
    * Important dates and times in respect of the Rights Issue:




Key Points

    * Proposed acquisition of a high-quality industrial property at 27 Penjuru Lane Singapore 609195 for S$161.0 million.
    * New debt facility of S$280.0 million.
    * Fully underwritten renounceable 7 for 20 rights issue to raise S$79.6 million.
    * The Rights Issue Books Closure Date which is expected to be 5.00 p.m. on 20 September 2010.
    * The Rights Units will be issued at a price of S$0.155 per Rights Unit, which is a discount of 32.6% to the closing price of S$0.230 per unit on 19 August 2010 and which is a discount of 26.5% to the theoretical ex-rights price (“TERP”) of S$0.211.
    * The Manager expects to raise gross proceeds of S$79.6 million, of which:


          o S$64.5 million will be used to part satisfy the total cash cost of the Acquisition.
          o S$4.8 million will be used to pay for underwriting and selling commissions and professional and other fees and expenses.
          o S$10.3 million will be used to pay for debt related costs and for general corporate and working capital purposes.

I don't know what date. Sorry.

I'm here to ask(curious to know), for you, do you mind to buy it with 6.8% yield as for today's price?

Any one of you here received your Q-Capita divvy with payment date of 30 Aug?  I have not received mine...