Of course you can sell on the same day it is called intraday trade. Your trading limit will be returned to you immediately.

Of course you need to pay brokerage to buy and sell. The money for the buy and sell will contra off and the balance will be credited to you within 3 days, in this case the profit.

Manade... Otherwise you broker cannot cari makan...

Good.. megasale in reits is coming..

Congrats to you... I also sold 1/2 my holdings at 0.84

The rest will hold for divvy..

This post has been edited by gark: Feb 16 2017, 01:37 PM

Great analysis, adding more info.

Soilbuild have relatively large concentration to OnG properties and occupancy is coming down every Q.

Viva occupancy is improving (although at snail pace) every quarter. Also new property with 7 years triple net master lease starting in 2017. Rental guarantee from sponsor for Jackson and UE Bizhub will be expiring in 2019 and 2018 (be careful of these dates IF viva cannot fully rent out these properties).

The 7 years triple net master lease is the "6 Chin Bee Asset", already 100% leased out, acquisition completed end 2016.

For Jackson Square and UE Bizhub, it is not master lease, but come with rental support by sponsor (ie guaranteed 100% occupancy) until 2019 and 2018.

Currently Jackson Square is 91% occupied but McDermott (31% of lease) is vacating in April 2017, partially replaced by Foxconn at 8% of lease. Anyway rental is protected until 2019. Total 17 tenants.

UEBizhub East is currently 89% occupied. Total 31 tenants. Rental support until 2018.

Viva Business Park however still have low occupancy, and now AEI completed, we see a uptick in occupancy. 73% occupied, 84 tenants.

If Viva can continue to drive occupancy to VBP, they can raise dividends. Other properties is master leased. They claim to have positive rental revision of +5.6% in 2016, most probably due to their very cheap rental vs new AEI at VBP.

One red flag: VBP remaining land lease is only 14.5 years and Jackson Square is 12.4 years.

This post has been edited by gark: Feb 16 2017, 07:40 PM

Yes gearing is rather high, but should be still manageable. They just restructured the 2017 loan to 2020.

For land lease expiry, every reit will face this problem eventually. They can renew by paying a land premium or hand back the land to gov.

For asking money, i am ok with it if the money is use for accreditive assets, ie. Adds to dps.

If you want higher divvy, you got to take some risk, but take a calculated risk by doing your homework.

Yes, SReits is relative expensive now, but still way much better than the bonkers anti-gravity MReits..

Not that bad lar.. The way you say it macam wan bankrupt only.

Those jurong buildings is actually about 86%-90% occupied.

You need to be careful.. if the technics building security deposit has fully run out before they secure a new tenant. That will be a big chunk of drop.

Also solaris master lease will be expiring in 2018. I agree that if the DPU can stabilise, then can look more into it.

This post has been edited by gark: Feb 17 2017, 10:35 AM

Sold off all my Mreits de.. and exchanged most of it into Sreits already..

Master lease building on 'Loyang Way'. Technics declared bankruptcy and went to recievership in mid 2016 and defaulted on the rental payment. In turn Soilbuild initiated court order to seize the security deposit ($11.9 million) and property with lease terminated on 9th December 2016.

The security deposit after paying on defaulted rent and other costs, is now left with $3.9 million (to be paid as ongoing rental) and is expect to last until April-May 2017.

https://www.reitsweek.com/2016/12/soilbuild...loyang-way.html

This post has been edited by gark: Feb 17 2017, 11:00 AM

Average is about 2.9+ to 3.0+ from the recent transfer.

Soilbuild has an unusually large concentration of OnG companies (all master leased) ... which is higher risks at current environment...

KTL Offshore
BK Marine
Tellus Marine

This post has been edited by gark: Feb 17 2017, 11:10 AM

Everytime you change , you incur about 0.5% -1% exchange fees... so it is not necessary better on the longer route.

More dangerous is the valuation effect..

Once a property have loss it master lease (in this case 21 years outstanding), the building valuation will come down drastically. Once the valuation comes down, the gearing ratio will be bumped up as asset price fall. If the gearing ratio hits a fund internal limits, they will have no choice but to do rights issue to raise funds.

Thus begin the death spiral (like sabana) ...

There are many opinions on rights issue, some people avoid it at all cost, some are ok with it and some chase after rights issue. It depends on how the person approach investing.

Negative view : Some people are really anti-rights issue, and will dump the stock immediately after announcement. These people view that the reit is trying to be greedy and take back all the dividend given previously. They approach reit investing in a short term profits.

Neutral view : Some are ok with rights issue, provided the rights issue is done with a net increase in DPS, they will subscribe for the rights issue as a chance to increase their holding while maintaining overall DPS. They approach reit investing at a medium-long term profits.

Positive view: Some really like rights issue, as an arbitrage opportunity to grab low cost REIT shares either to keep for long term or sell later. They will typically subscribe for excess shares and also buy tradeable rights on the market to convert. The more rights you buy in relative to your holdings in theory will lower your average cost but you need to foot up a lot of money.

For me I approach it neutral, but I know some successful REIT investor goes with the positive view. If you do not subscribe to rights, when issued, you get diluted and can actually lose overall DPS, but you can make some money from selling the rights.

All in all, in depends on the rights price, discount and the use of the money (relative to DPS). Rights management is very important to REITs investing.

This post has been edited by gark: Feb 17 2017, 11:47 AM

If you decide to subscribe for the rights, you can fill up the amount of excess rights you wish to subscribe in the form. However payment for all rights (and excess) have to be done first, and excess money will be returned later. Later the company will allocate the excess rights to any investor who request it, not necessary you will get your full request but usually will get some depending on how many unsubscribe rights available.

If you don't sell, don't subscribe .. you get diluted... each of your share will become less value and get less DPS.

Buy more during rights is also possible.. depending on the price vs the rights price vs theoretical ex-right price. All these info you can get from the prospectus.

This post has been edited by gark: Feb 17 2017, 11:55 AM