kena amfirst liau at 1.12 dunno shud b happy or sad leh !!! since i got rights issues ....

Ada angin.

Thanks moppy for alerting.

===

Company Name : KLCC PROPERTY HOLDINGS BERHAD
Stock Name : KLCCP
Date Announced : 28/06/2012

Type : Announcement
Subject : OTHERS

Description : Subject: Proposal to Explore Corporate Structure for KLCC Property Holdings Berhad (“KLCCP”)

The Board of KLCCP wishes to advise that it has today authorised the Management of KLCCP to explore a corporate structure including an appropriate Real Estate Investment Trust (“REIT”), or equivalent, with the objective of optimising shareholder value.

It is expected that any proposals arising from this exercise will be subject to the approvals of relevant authorities, the Board of KLCCP, and shareholders.
Further details as to the progress of the exercise will be announced to the shareholders in due course.

This announcement is dated 28 June 2012

This post has been edited by panasonic88: Jun 28 2012, 11:50 AM

KLCC Property exploring REIT option

KUALA LUMPUR: KLCC Property Holdings Bhd (KLCCP) is exploring the setting up of a real estate investment trust (REIT) or equivalent to optimise shareholder value.

It said on Thursday it had authorised the management of KLCCP to explore a corporate structure including an appropriate REIT or equivalent.

"It is expected that any proposals arising from this exercise will be subject to the approvals of relevant authorities, the board of KLCCP, and shareholders," it said in a statement to Bursa Malaysia.

http://biz.thestar.com.my/news/story.asp?f...34&sec=business

This post has been edited by panasonic88: Jun 28 2012, 12:30 PM

i bought in at 1.12.. to even up my shares for the rights issue...

i put all my money into igb (mid valley) reit.then suddenly klcc pulak want to do reit lol

Given you cheaper price also you don't want?

How u put all your money into igb reit wor ? igb reit ipo started already ?

kriss assets i suppose .....

yes krisassets

Of course want... but need to do prepare Bank Draft/Cashier's Order

KLCCP - Hong Leong says HOLD, target price 4.07...



Attached File(s)
 HLIB___KLCCP_2012_06_29.pdf ( 209.95k ) Number of downloads: 60

KLCCP yesterday missed the boat, today managed to hit & run...decided not to hold at high cost.

I don't dare to chase since y'terday run

RCULS EPS dilution of 38% is quite high.
Although Cimb gives TP of 4.99 based on 0.9x rnav, but it also written down a possible restructuring plan that derives a FV of 4.03, which is very close to Hong Leong's TP 4.07. Now Maybank gives way higher TP of 6.38. I'm still looking for a suitable buying price but quite difficult since no details of how they proceed with the restructuring. The management said that would take at least 6 months to come out one.

Extracts from the cimb report:

We reproduce below the analysis we did in our 6 June note. The latest market value of all of KLCC Prop’s completed assets stood at RM8.1bn (adjusted for its effective stakes), with Petronas Twin Towers (RM3.2bn) and Suria KLCC (RM2.2bn) making up the bulk of the market value.

We estimate a potential unlocking of RM5.2bn (RM4.03/share) value if KLCC Prop injects all of its RM8.1bn assets into a new REIT company. This is based on the following assumptions:
Purchase consideration equivalent to the latest market value, i.e. no discount to market value.
30% debt to asset leverage ratio for the new REIT company. This would come up to RM2.4bn of new debt taken on by the new REIT company, which would be paid to KLCC Prop in the form of cash. Assuming the distribution of all of this cash consideration to shareholders, the potential special dividend (cash portion) would be RM2.4bn (RM1.88/share).
The balance 70% of the purchase consideration is assumed to be funded by units in the REIT.
We also assume that KLCC Prop would want to retain a controlling 51% stake in the new REIT company. The 49% balance units could be returned to KLCC Prop shareholders as distribution-in-specie. This would amount to a value of RM2.8bn (RM2.15/share).
Adding up the special dividend (cash portion) and distribution-in-specie (units in the new REIT company), we derive a total potential value of RM4.03/share for KLCC Prop shareholders.

This post has been edited by yok70: Jun 30 2012, 01:37 AM


Attached File(s)
 kLCCP_cimb_290612.pdf ( 531.05k ) Number of downloads: 36

pana, keep money for its IPO

Analyst report from Hong Leong - NEUTRAL rating...



Attached File(s)
 HLIB___REIT_2012_07_03.pdf ( 1.24mb ) Number of downloads: 56

Danke River.Sand, for sharing HL's ratings

RHBinvest's take on this

REITs stand to gain, defensive qualities will shine in current trying times

PETALING JAYA: Real estate investment trusts (REITs), which focus on higher-than-market average yields, will stand out in the current uncertain economic and market environment due to their defensive qualities.

The impending listing of IGB REIT and KLCC Property Holdings Bhd's planned REIT could potentially raise investor attention to a sector otherwise viewed as a low-beta proxy to the economy.

Analysts contacted by StarBiz said they did not discount the possibility of eventual increased attention on REITs, saying that this could be a prelude to a re-rating for the sector.

“These two REITs are huge in terms of potential flotation volume and market capitalisation. For IGB REIT, its asset valuation of RM4.6bil will make it the largest retail REIT to date,” RHB Research Institute's REIT analyst Loong Kok Wen said over the telephone.

Loong said the huge asset base due to high liquidity in the financial system would also attract the attention of institutional investors.

“This is a good opportunity to buy into such initial public offering REITs amid the sustained global uncertainties,” he added.

Loong noted that interest in REITs was currently high and this could be sustained, moving forward, should global uncertainties persist.

“There has been a lot of attention lately on consumer-based dividend-paying stocks and their prices have been going up.

“It is the same for REITs their asset revaluation had seen increased prices on the backdrop of high liquidity in the economic system,” Loong added.

A property analyst with TA Research said the other qualities of REITs that would be appreciated by investors in these volatile times were their dividend yielding nature compared with other fixed-income securities.

“I am positive about retail REITs as their dividends are stable because these cash stream comes from their rents.

“Retailers are resilient amid booming economies in the East. And locally, consumers here are always shopping and buying goods during the weekends,” the analyst said.

However, the analyst noted that while REIT yields had declined slightly from the past, one could still find yields as high as 8%.

Yields today still offer 2%-3% premium over fixed-deposit (FD) rates.

“For example, if I am a person with a lot of money, I would like to diversify my returns and risk. So REIT is the next best alternative after FD.

“Today, we are also looking at richer valuations for REIT stocks,” the analyst said.

In a report, Hong Leong Investment Bank said foreign funds and investors were continuing to show strong interest in Malaysian retail assets due to their attractive yields and pricing.

“The retail segment is blessed with a highly favourable macroeconomic backdrop sustained consumption theme in Malaysia, rising disposable income and discretionary spending, high consumer confidence, strong employment market (and) the tourism boom of Malaysia,” Hong Leong's REIT analyst Sean Lim wrote in the report.

Just curious

Anybody's portfolio has the following Retail/Shopping Mall's Reits?

1) CMMT (Gurney Plaza, Sg Wang, Mines, East Coast Mall)

2) SUNREIT (Sunway Pyramid, Sunway Carnival, Suncity Ipoh, Sunway Resort Hotel & Spa, Pyramid Tower Hotel, Sunway Hotel Seberang Jaya, Menara Sunway, Sunway Tower)

3) PAVREIT (Pavillion, Pavillion Tower)

Soon coming in September is IGBREIT (Mid Valley, Gardens)

And in the discussion is KLCCReits.