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 REIT V3, Real Estate Investment Trust

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SKY 1809
post Jan 2 2012, 01:29 PM

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QUOTE(gark @ Jan 2 2012, 01:01 PM)
Yep, if you not SG tax resident, GST is not applicable, so.. GST is taxed on the brokerage and not on the shares.

GST (on brokerage) = 0%
Tax on dividend received = 0%
Capital gain tax = 0%

rclxms.gif
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O IC, thanks.

Malaysia also taxes on brokerage in term of stamp duty collected, not much an impact.

The impact on non residents sometimes is you have to claim back, and quite troublesome . And also need to understand Double Tax Treaty bet Malaysia/Singapore, presumably there is no problem here too.

Anyway, I have a clearer mind now, the Tax is not like the the additional 10% stamp duty collected on properties bought by non residents.

This post has been edited by SKY 1809: Jan 2 2012, 01:36 PM
SKY 1809
post Jan 2 2012, 02:29 PM

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QUOTE(gark @ Jan 2 2012, 01:44 PM)
Also no stamp duty for Singapore stock purchases...

For properties, there is a lot of taxes and restrictions for non-resident to purchase properties...

Purchase Stamp Duty
First SGD 180,000 - 1%
Next SGD 180,000 - 2%
Remainder - 3%
PLUS Additional 10% on the total purchase price...  sweat.gif

Selling Stamp Duty
1st Year = 16%
2nd year=12%
3rd Year = 8%
4th Year = 4%

Buy also kena tax, sell also kena tax...  laugh.gif Max Loan = 60% of house value... SG properties gonna free fall soon...  wink.gif

But SG REIT is exempted from all above..  rclxms.gif


Added on January 2, 2012, 2:05 pm

Remember S-REIT have high yield due to reasons, investors are not dumb.  wink.gif

Most S-Reit have properties which have limited land leases, usually between 20-90 years. Usually the shorter land lease period have higher yields. once a company reaches it's end of lease, they will have to re-new (re-buy using cash/debt/rights) the lease for another 30 years or so or sell off the property cheaper (incur losses).

So these properties are self depreciating, for example a company have a 30 years lease left, the total depreciation will be about 3.33% and the property asset value in calculated to reflect that.  Hence a property having a 'normal' yield of 6%, it will be discounted to 9.33%, to compensate for the 3.33% re-investment required to extend the lease in the future.
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Kinda agree.

The forumers are quite short sighted to compare the rates of Yields only, without knowing some accounting treatments.

Basically a freehold or long leased hold asset ( like in Bolehland ) tends to have higher capital appreciations, but giving you a lower yield on asset values.

For example if a company uses a fully depreciated Bus, tends to give a better yield on asset costs ( or rather zero asset cost ).

But then again technically when a lease expires, the ownership of the Building goes back the the Government. Again u assume for sure , they ( Govt ) lease back to u, never mind the new premium charge is much higher.

But it is quite common for Governments worldwide to make U turn policies from time to time, like the 10% stamp duty imposed on non residents in Singapore.

Many evergreen assumptions may not hold water in time to come.

BTW, Singapore Government is the final owner of all properties in Singapore by default.

Just my view.

This post has been edited by SKY 1809: Jan 2 2012, 02:58 PM
SKY 1809
post Jan 2 2012, 03:54 PM

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QUOTE(gark @ Jan 2 2012, 03:34 PM)
Only the land belongs to the government and not the building. But land being the most expensive item in Singapore, thus re-buying the land in the future (30 years) it might cost you more than your current purchase price (land &building).  laugh.gif
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Ya, It is more costly to " move your buildings " elsewhere, not talking about finding tenants laugh.gif

This post has been edited by SKY 1809: Jan 2 2012, 04:04 PM
SKY 1809
post Jan 2 2012, 09:06 PM

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QUOTE(Veda @ Jan 2 2012, 08:26 PM)
Look where their properties are located first  brows.gif  S-Reits with properties in Indonesia tend to command higher yields, cause Indonesia is considered riskier than Singapore.  And check the history of the Reits and their sponsors. Some have weak or small sponsor, or patchy history. Singapore Reits/stocks tend to behave in a more "logical" manner compared to Bursa.
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I do not agree .

Yield today has a lot to do with the stability/risk , acceptability and confidence levels of the investors.

You can see German Bonds are of much lower yields, but you cannot say Italy Bonds give more logical returns.

S Reits do have some histories of problems, so logically it affects the risk and confidence levels of the investors. Maybe like of higher Fear Volatility . Constant issuing of right shares may be a sign of these weaknesses.

On the other hand, M Reits yields are dropping slowly though the world markets as U know.......

In period of instability, opting for some stability is not a bad option.

This post has been edited by SKY 1809: Jan 2 2012, 09:41 PM
SKY 1809
post Jan 3 2012, 01:15 PM

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QUOTE(yok70 @ Jan 3 2012, 01:03 PM)
private placement is usually at discount price to market price, so it's actually worse for shareholders than RI. With RI, at least every shareholder has the chance to neutralize the dilution if they invest more by subscribing to all RI offered.
However, as long as the diluted % is less or equal to the % of the new income by newly injected assets per year, it's not a bad idea for long term investor as it just required 1 year for break even.  laugh.gif
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Need to know what is the RI for.

As mentioned by Gark, quite often it is for the purpose of raising cash for dividends, then look quite bad.

Singaporeans are deemed to be smarter than us, they know the " catch" though not mentioned specifically by REIT managements. And why they often do not apply for RI , even offered at 15% discount ?

There are good reasons why investors dislike RI too, even it is in Bolehland. Berjaya is one of them.

And buying REITS are for mainly of getting regular passive incomes than to get Capital Gains. If outflow is always greater then inflow, then it has no meaning i.e -ve passive incomes ?

This post has been edited by SKY 1809: Jan 3 2012, 01:28 PM
SKY 1809
post Jan 21 2012, 10:09 AM

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Mid Valley is planning to be listed as REIT

Happy news n CNY to all
SKY 1809
post Jan 26 2012, 12:55 PM

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QUOTE(tohca @ Jan 25 2012, 10:23 PM)
With SCB online I only trade SGX, but you can trade HK, most major European countries and US markets with it. Thus useful to for checking real time prices of certain counters there. I think it would be less taxing to do research on just one or two exchanges, but you may have more capacity than I. In fact I'd rather just trade stocks on the KLSE and nothing else, but just don't want my money sitting pretty in SG FDs which pays less than 1% /annum.

You can chose either TAC or a token device, both have pros and cons. You do not need a SG number. A Malaysian mobile works just as well.

Hope that answers your questions.

Though this thread is about REITs, and my original purpose was to buy just SG reits with SCB online, but today my SGX portfolio has less than 50% reits. I have around 30 counters and log in once a day to place my orders. I use TA indicators (RSI, stocRSI and MACD) to help me enter and exit a position. I must say than since starting SCB online about a month ago, I've earned (counting realised gains only) many times what SG FDs would have earned me in a year.
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Kinda true.

I see lot of forumers asking for info to invest all over the world.

The thing if they are good enough, then they should do more on the sharing , and not most of the time asking for this and that.

So I expect you should be the one to share more. icon_rolleyes.gif laugh.gif

This post has been edited by SKY 1809: Jan 26 2012, 12:56 PM
SKY 1809
post Mar 15 2012, 12:18 AM

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QUOTE(ryan18 @ Mar 14 2012, 04:42 PM)
i got charged about rm$80 by CIMB Cross border trading for singapore shares
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Seems like you are paying 2 brokers for one transaction. hmm.gif

2 persons doing the same job for u. Hidden costs for cross border.

This post has been edited by SKY 1809: Mar 15 2012, 12:39 AM
SKY 1809
post Mar 30 2012, 11:52 AM

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QUOTE(river.sand @ Mar 30 2012, 08:57 AM)
I am having the financial statements of Starhill REIT. Please may I know which line are you referring to.

I do know that ARREIT's earning for 2011 was boosted by 'unrealized gain from revaluation of properties', which I assume is one-off.
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They sold some buildings like lot 10 etc to their Singapore member hmm.gif

They hold oversea assets like in Japan or Europe , more than before.

You may call them" transfers ", but legally sold.

Diff classes of assets though

Maybe I am out dated yawn.gif

This post has been edited by SKY 1809: Mar 30 2012, 11:59 AM
SKY 1809
post Mar 30 2012, 12:08 PM

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QUOTE(wankongyew @ Mar 30 2012, 12:03 PM)
I can't find solid information so I may be wrong. But Stareit's financial reports always confuse me because right now most of their asset value is actually in their Singapore REIT related company.

Anyway, cherroy mentioned a while back that Stareit's expected DPU after all their property portfolio adjustments is 6.9 sen. I see that the MREIT blog simply based their extremely high yield by taking 4.0112 DPU for a half year and doubling it.
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What about Bursa web ?
SKY 1809
post Apr 13 2012, 08:48 AM

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QUOTE(davidcch07 @ Apr 12 2012, 10:00 PM)
Chong Reit Sifu,
Chicken Run jor! Nvm... got arreit !  cool2.gif
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Chong Sifu is reit shark hmm.gif hmm.gif
SKY 1809
post Apr 17 2012, 05:50 PM

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QUOTE(wongmunkeong @ Apr 17 2012, 05:44 PM)
hm.. yesterday ARREIT closed 0.925
today ARREIT jumped to a high of 0.935 before settling back at 0.930
Anyone sniffed anything funny / interesting going on?
Just curious since no "printed" news that i've read - danke danke

Note:
Invested party here (bought during the drop $0.900+/- a few times)
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Why need to monitor reits on hourly basis hmm.gif
SKY 1809
post Jun 14 2012, 09:00 PM

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QUOTE(yok70 @ Jun 14 2012, 08:11 PM)
If, its share price won't go down more than that special repayment. Good luck.  laugh.gif
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TM has quite good capital repayments plus some Dividends over the years and its share price does not seem to fall hmm.gif

It is like yr property price goes up from 500K to 800K, and you can redeem the capital gain of 300K , and yet u still own the the same property. hmm.gif


SKY 1809
post Jun 15 2012, 10:12 AM

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QUOTE(river.sand @ Jun 15 2012, 10:06 AM)
Assets = Liabilities + Shareholders' equity

Loans are part of liabilities, so gearing ratio can't be more than 100%, right  rclxub.gif
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100% sure boh hmm.gif

I thought it is around 50% yawn.gif

This post has been edited by SKY 1809: Jun 15 2012, 10:12 AM
SKY 1809
post Jun 15 2012, 10:14 AM

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QUOTE(davetan @ Jun 15 2012, 10:13 AM)
No reit can have more than 50% gearing based on its total net asset , this is stated in the reit regulation.
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So no QE in reits laugh.gif
SKY 1809
post Jun 27 2012, 10:29 AM

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QUOTE(CP88 @ Jun 27 2012, 10:10 AM)
So more divvy for us  drool.gif Long term planning moppy gor.  notworthy.gif
Got the offer price for IGBReit already?  hmm.gif
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Sales proceeds is rm 40m, capital gain is also 40m ?

Zero Cost for Buildings .

Advance accounting method. laugh.gif

' AmanahRaya Real Estate Investment Trust (ARREIT) is disposing of the Wisma UEP building to Tenaga Nasional Bhd for RM40 million. '

This post has been edited by SKY 1809: Jun 27 2012, 10:32 AM
SKY 1809
post Jul 27 2012, 08:53 PM

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QUOTE(cwhong @ Jul 27 2012, 08:49 PM)
imo at current price better buy from IPO not worth it already ..... IPO cannot get also can buy upon first day listing ......
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Too much money chasing after too few reit potentials.

Dow Theory says when everyone like pasar malam traders also want to buy reits, probably prices are trading at the mountain tops hmm.gif

Only time would tell yawn.gif

This post has been edited by SKY 1809: Jul 27 2012, 08:56 PM
SKY 1809
post Jul 27 2012, 09:21 PM

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QUOTE(CP88 @ Jul 27 2012, 09:01 PM)
Bro sky,

I heard before this theory of a successful ceo/businessman when go polishing his shoes in the street, the polisher was talking about the stock that he owns. So this he made a clever decision to dispose his stake of the company and voila the share comes tumbling down.  laugh.gif
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Dow Theory is the most original, other stories could be the clones or made up to tell this " original " theory.

This post has been edited by SKY 1809: Jul 28 2012, 10:48 AM
SKY 1809
post Aug 2 2012, 12:33 PM

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QUOTE(wongmunkeong @ Aug 2 2012, 11:56 AM)
IBs?
Try HLeBroking, ECM Libra and OSK.

Recommendations?
Read http://reitdata.com/ + other websites and books on REITs + investing in general.
hunt for more data and make up your own mind.
Sorry ar - i worry about recommending coz i'm not U, with different wants, stress, risk appetite, goals for the investments.

Personally, i'm holding:
a. AIMSAMPI REIT  (Singapore Industrial)
b. SABANA REIT (Singapore Industrial)
c. LIPPO MALLS (Indonesia Retail)
d. FIRST REIT (Indonesia hospital)
e. SAIZEN REIT (Japan residential)
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No London REITS hmm.gif

This post has been edited by SKY 1809: Aug 2 2012, 12:34 PM
SKY 1809
post Aug 2 2012, 02:21 PM

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QUOTE(wongmunkeong @ Aug 2 2012, 02:12 PM)
eh? there's such a REIT name or type ar?  sweat.gif
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http://www.bpf.org.uk/en/reita/reits/uk_reit_list.php

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