They didn't mention. https://links.sgx.com/FileOpen/Sasseur_REIT...t&FileID=745755

I will see if I can dig up anything from Bloomberg.

I think it's standard practice to not disclose the rate, from past experiencing reading such announcements. Some recent examples:

Keppel DC: https://wpcms.kepcorp.com/wm/cms-site/kcl/f...nnouncement.pdf

Ascendas: https://investor.capitaland-ascendasreit.co...Q2WXCGJQO.1.pdf

It would be nice if the rates are disclosed, but some of the facilities may have legal restrictions on announcing those sensitive numbers.

This is the 31st Jan's 3-year secured facility agreement, consisting of 125 mil SGD term, 10 mil SGD revolving and 54 mil USD term facility. Maturity date is 31st Jan 2026.



You can see the Index+Margin column values are "N.A.", so no info on the rates.

The additional info you get from this screenshot, as compared the the official announcement, is that the subsidiary is based in British Virgin Island.

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This is all I can find on Bloomberg. Keyword used is "SASSEUR" (anything with the word "Sasseur" in it).



Most of the loans are the ones about to due in Feb and March this year. (The dates in the Description column are due/maturity dates). The newest one is the 31st Jan loan mentioned above, due in 2026.

As the latest onshore RMB loan announcement was made only yesterday, the banks may not have registered the deal on Bloomberg that quickly. Will help you keep an eye on the Bloomberg results from time to time.

EC World REIT's fiasco isn't over.
https://links.sgx.com/FileOpen/ECW_Extensio...t&FileID=748495

https://www.theedgesingapore.com/capital/re...these-two-reits

Comes with a paywall, but our nice friend at HWZ, mrclubbie, managed to reproduce the entire article.

https://forums.hardwarezone.com.sg/threads/...#post-146915889

European commercial real estate REIT investors beware:

Citigroup forecasts that valuations in Western Europe will fall by another 20 to 40% before the end of next year"

Hopefully doesnt spill over much to S Reits.

Elite Comm REIT's gearing reached 45.8% now,...

Elite Commercial REIT 1Q 23 business update: https://links.sgx.com/1.0.0/corporate-annou...606d2830da90df7

did you receive any income here in Malaysia? if the answer is no, then clearly no need to declare.

If your brokerage is in Malaysia, why not ask the brokerage for their opinion?

Nonetheless, TOS did include the info above. essentially no need cos it is not taxable in the country of origin... that is verbatim from ldhn.

Ok, I studied the tax forms further... I got the idea now. Ignore B14, B15 and B16c, leave those 3 rows empty.

If you receive dividends from S-REITs via Malaysia-based brokerage, you declare the S-REITs dividends you receive in bahagian K (part K). Should declare all dividends received throughout 2022, so yes, whole year 2022.

Country code: SG
Type of Income (Jenis Pendapatan): b) Dividen
Tax paid In The Country Of Origin (Cukai Dibayar Di Negara Asal): 2 (No)
Headline Tax Rate In The Country Of Origin (Kadar Cukai Headline Di Negara Asal): 17% (highest corporate tax rate in SG is 17%)
Amount Of Tax Charged In The Country Of Origin: 0
Amount of Income Remitted: (Your SGD dividends received multiply by the SGD.MYR rate on the day you receive your S-REITs dividend in Malaysia)

Source: LHDN, in particular you guys should read the BE 2022 Explanatory Notes.

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For those receiving dividends via SG/US/UK/HK brokers, can just ignore bahagian K completely, since the dividends are paid to your foreign brokerage account and not brought back to MY anyway.

For further details, need to ask our tax expert Hansel.

Ya you are right. "Proforma" is one well-known trick to fool investors. I checked Ascendas's bonds, the yield for a 2-year bond is around 3.7-4%, and for a 6 year bond, yield is 3.9-4% p.a.

2-year bond: https://www.bondsupermart.com/bsm/bond-factsheet/AR4642047

6-year bond: https://www.bondsupermart.com/bsm/bond-fact...et/SGXF98299294

The yield level rose 100% from 1.8-2% ish in early 2022 to 4%.

Their latest slides mentioned an all-in debt cost of 3.3%. https://investor.capitaland-ascendasreit.co...PSTLTDNR9.1.pdf

Substituting some numbers with full year FY 22 figures, 7.8% NPI yield - 0.7% management fee - 3.3% interest cost - 0.15% other trust expense = 3.65% net income "yield".

Debt is indeed a more attractive investment vehicle relative to equity these days.

MIT to acquire data center in Osaka. More private placement plus more debt.

https://links.sgx.com/1.0.0/corporate-annou...9789f34f48cfee1

MIT units' trading halted today.

The director involved in Dasin's lawsuit also serves on Elite Commercial REIT's board... 

https://links.sgx.com/FileOpen/Elite%20Comm...t&FileID=760963

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WSJ REAL ESTATE: PROPERTY REPORT

American Cities Are Starting to Thrive Again. Just Not Near Office Buildings.
Neighborhoods are benefiting from remote work

https://www.wsj.com/articles/american-citie...share_permalink