CI still climbing while mine still crawling..

For those who like arreit...

Beats consensus, driven by new acquisitions

Maintain Buy. AAREIT’s 2010 RM41.4m realised net profit (+34% YoY) was within our expectation, but above consensus estimates by 12%. We continue to like AAREIT for its 7.7% 2011 yield (on par with 7.8% industry), and good earnings visibility and sustainability supported by long lease agreements with step-up features. We however lower our forecasts by 3-11% and DCF-based TP by 7 sen to RM1.12 to factor in slower-than-expected completion of three PKNS’s asset acquisitions.
Key highlights from 2010 results. 1) 34% YoY growth in realised net profit was mainly due to contributions from new assets i.e. Selayang Mall and Dana 13, both acquired in May’10. 2) Gearing is maintained at 0.36x as at Dec’10 and it is expected to hit 0.4x post-PKNS asset acquisitions. 3) AAREIT has proposed 1.7 sen DPU, bringing up 2010 total DPU to 7.3 sen (+2.3% YoY), in line.

More assets from new shareholder? AAREIT’s share price has performed well since Sep’10, up by 8%. We believe the rise was partly due to the emergence of new shareholder, PKNS (c. 30%) which provides AAREIT with more acquisition opportunities. AAREIT will be able to tap into PKNS’ property portfolio, including existing assets like De Palma Hotels, Wisma PKNS and future property projects like PJ Elevated City, PJ Sentral Garden City, Kelana Sports City, etc. As a start, AAREIT has proposed to buy Kompleks PKNS, SACC mall and Menara PKNS from PKNS in Sep 2010 for RM270m.

Lowering forecasts. We lower our 2011-12 net profit forecasts by 3-11% as we now expect the three PKNS asset acquisitions to complete in June’11 (previously Jan’11). We introduce 2013 forecast. We expect 3-year DPU CAGR of 4.8% to be driven by: 1) full year contributions from Dana 13 and Selayang Mall, 2) new assets i.e. Kompleks PKNS (retail) and SACC mall (retail) in Shah Alam, as well as Menara PKNS (office) in Petaling Jaya, and 3) rental hike from the existing assets. AAREIT’s investment property value is expected to rise by 30% to c.RM1.2b, from RM913.3m as at Dec ’10 post-PKNS asset acquisitions.

till then you buy at higher price    buy la buy la now 

come share share .. what quick counters are u eyeing at XD

klci warrant wats the price now ???
how do u calculate from the index value  never play warrant b4

ooo warrant is like options for US stocks la correct ... warrant buy thru brokers as well ... we get leverage trading warrant  ... where can i find more info for trading klci warrant

tq so much

ho wah is raging ...... no chance for me to buy ... sad up 5% 2day (0.88)

---

Added on February 14, 2011, 4:09 pmmegb below 2.0 jor. 

megb below rm 2 will trigger some panic sellings 

luckily i didn't buy more. looks like another freezer food now. 
however, good divvi though, just treat it as reit then. 
i think its business is kind of monopoly (i mean, with the scholarship thing). so as soon as it able to get investor in, FF selling will be finished and price can move back to "normal" level. 

9000 lots!....seems like the ff selling is not ended yet...

---

Added on February 14, 2011, 5:03 pm

grow dust i'm not afraid, just treat it as a FD. 
profit drop i afraid. 

agree. the uptrend today doesn't look promising. can't consider a rebound.
however, wed is about the day where many fund managers back to work. so, it's a "hard to say" situation. 

MBSB highest yield?

prove it.... by data, not by ur questionable motive

I saw many (most) ppl hurt by these VT's product...............

Buy high sell low, then the counter surge again, the small fish another times buy high sell low. Keep on hurt

if not mistaken, Insider, she accumulating since 2 mths ago. A director from Penang. I believe a private placement stuff.

If magician report to work today, should have no problem to 'jump' to green

i whack since at 65sen on december...