DBS is surely ok, but why Singtel? Cut-throat telco landscape in SG, ever increasing leverage... a lot of issues with Optus management in Australia, digital banking still bleeding money... Not looking good...

SGIC claims "victory", so they made changes to Sabana's EGM resolutions: https://links.sgx.com/FileOpen/Sabana%20_Re...t&FileID=805137

Hmm, there is a reason why EBIT is not a preferred metric by Buffet...

Impairment is still a cut on shareholder's value... If you sell the asset in the market it won't worth as much as when you first bought it. So impairment is a real opportunity cost for shareholders. Non-cash returns are an important indicator of how well management is managing the business, and it tells you how well the assets of the companies are taken care of. Multiple impairments suggest the company overpaid for the asset in the first place or that the business is no longer doing well, such that future cash flows which can be earned by the company is dropping, so discount it to the preset value equals the impairment made today.

I never bother with all those initiatives... Not too far away, Malaysia has plenty of these: Wawasan 2020, Transformasi 2025, then now Madani... It's all bullshit as you know

Nvidia needs no initiative... it just needs to sell chips... Business is here to make money, not listen to consultants and come up with a bunch of "initiatives".

Singtel never really recovered after a bunch of MVNOs come in and eat up their market share. I myself switched to Zero1 to cut my postpaid cost to 7.06 SGD a month from 10 SGD a month previously charged by Singtel directly...

JV with NVDA doesn't mean the money will flow to Singtel. The pricing power stays with NVDA... and NVDA laughs till the end...

I think the best dividend generator still comes from banks, DBS, UOB and OCBC, nothing beats them so far. And the alignment with shareholders are pretty well demonstrated throughout multiple crises.

Just my 2 cents lah haha

Another REIT to deleverage and suck your divestment fee: https://links.sgx.com/1.0.0/corporate-annou...00dc10bc60096ec

MPACT's management is smart and cunning, they mention the divestment fee of 0.5% of the consideration value at the footnote of the announcement document and NEVER mention it in the slides at all.

The fox shows his tails... 狐狸尾巴出来啦

Sabana REIT's EGM cancelled as trustee need more time to sort out the new resolutions from SGIC.

https://links.sgx.com/FileOpen/Sabana_Annou...t&FileID=805561

EC World is about to implode... the sponsor borrowed money from some VCC in Singapore with the units of EC World as collateral and the sponsor now failed to repay the loans... The VCC is coming to claim back the money...

Interestingly the VCC seems to be another group of Chinese investors... https://www.fmmfo.com/

https://links.sgx.com/FileOpen/ECW_Ann%20of...t&FileID=805736

More interesting developments to follow I guess. Get your popcorns ready guys!

This post has been edited by TOS: Jun 4 2024, 07:06 PM

Apparently SGIC is not happy with Sabana's directors...

https://links.sgx.com/FileOpen/Sabana_Recei...t&FileID=806142

More boardroom drama to come...

Changi Business Park emptying out as global tech, finance layoffs take toll

https://www.businesstimes.com.sg/property/c...yoffs-take-toll

Sabana's trustee update: https://links.sgx.com/FileOpen/Trustee%20St...t&FileID=806366

One of Sabana REIT's tenant went bankrupt... Expect total gross income lost of 2.4% (or 2.3% in proforma FY 2023 DPU): https://links.sgx.com/FileOpen/Sabana_Tenan...t&FileID=806353

Finally! EC World REIT's creditors are about to wind up EC World...

https://links.sgx.com/FileOpen/ECW_Update%2...t&FileID=806354

Loans will be accelerated...

MIT divest 2 properties in the span of 2 days... no mention of divestment fees eh?

https://links.sgx.com/FileOpen/20240612-MLT...t&FileID=806478

https://links.sgx.com/FileOpen/20240613-MLT...t&FileID=806565

Woah some interesting fireworks going on between SGIC and Sabana's trustee + manager:

SGIC letter + manager's response: https://links.sgx.com/FileOpen/Sabana_Manag...t&FileID=806799

Trustee's response: https://links.sgx.com/FileOpen/18%20June%20...t&FileID=806809

And the fireworks continue:

EGM to proceed as usual for now: https://links.sgx.com/FileOpen/Sabana_annou...t&FileID=807048

Quarz dares to challenge the management for issuing bonds when rates are at its peak lol

https://links.sgx.com/FileOpen/Sabana_Annou...t&FileID=807046

And once again, the role of trustee is highlighted at the end of the second document lol



Kesian HSBC Trustee, suck all the fees, throw all the responsibility to SGIC

This post has been edited by TOS: Jun 19 2024, 11:59 PM

A group of Dasin shareholders are requesting for an EGM to restructure the REIT: https://links.sgx.com/1.0.0/corporate-annou...4505522519c601b

Wow we have a new REIT in trouble: IREIT lost its largest tenant accounting for 20% of its gross rental income...

To make matter worse, they need to spend capex to reposition the property into mixed-used... spend $$$ but no rental income...

https://links.sgx.com/FileOpen/IREIT%20Upda...t&FileID=807301

LMIRT's aggregate leverage ratio to breach 45% limit: https://links.sgx.com/FileOpen/Update_on_Ag...t&FileID=807476

Bloomberg COMMENTARY: Singapore needs reforms to revive its Reits

by Andy Mukherjee

https://www.businesstimes.com.sg/property/s...evive-its-reits

Dasin's update: https://links.sgx.com/FileOpen/DASINRT-Orig...t&FileID=808098

EC World REIT's update on facilities, mortgages and lawsuits: https://links.sgx.com/FileOpen/ECW_Update%2...t&FileID=808313

Sabana's EGM update: https://links.sgx.com/FileOpen/Sabana%20REI...t&FileID=808442

Cromwell European REIT portfolio valuations update: https://links.sgx.com/FileOpen/CEREIT_1H202...t&FileID=808600