Here we go! REITs earnings season begin!

FCT's 1Q 24 business updates: https://links.sgx.com/FileOpen/FCT_SGXAnnou...t&FileID=783533

Another REIT wants to show off how good their managers are in drinking in Clarke Quay... IREIT Global reports only 2.6% decline in property valuations over the last 6 months

https://links.sgx.com/FileOpen/IREIT%20Valu...t&FileID=783526

Valuation is highly subjective.
What did you expect.? 😄

I wonder how did they arrive at those valuation figures. The documents are not published online, have to go to the office to read on your own...

European risk-free rate has risen substantially since the pandemic's negative interest rate era.

The comparisons are nonsense too if you check the footnotes:

"Since COVID19 outbreak and rise in interest rates, our office portfolio valuation has only decreased by 5.6% supported by active leasing and stable leases, while our retail portfolio valuation has in fact increased by 1.4%."

The first figure, i.e., decrease in 5.6% is compared to 30 June 2020, while the second figure, i.e., increased by 1.4% is compared to 30th June 2023. The comparison periods are clearly different.

The managers want you to see what they want you to see...

Valuation of properties are by independent valuers?
Ireit's debt is almost 100% hedged to a rate. Next debt dateline is 2026?
Maybe that's why interest rate rise has not affected it that much

MLT 3Q FY 23-23 results: https://links.sgx.com/1.0.0/corporate-annou...87428bc7e98a125

Div increase 1.2% but price kena whack. 🤔 anyone can elaborate this logic?

Div increase 1.2% but price kena whack. 🤔 anyone can elaborate this logic?

The Trustee-Manager has been advised by its legal adviser that, further to its review of the register of Unitholders, its legal adviser is of the opinion that the Requisitionists and Glory Class are not “unitholders” for the purpose of section 54 of the Business Trusts Act 2004.

Accordingly, both the Requisition Notices and the Notice are invalid. The legal adviser of the Trustee-Manager has written to BTPLaw LLC and Glory Class to inform them of the above and to request the Requisitionists not to proceed further with the EGM proposed to be convened pursuant to the Notice.

Notwithstanding the foregoing, the Trustee-Manager has extended an invitation to the Requisitionists and Glory Class to meet with the Board to discuss the issues set out in the Requisition Notices.