As expected, the REIT lobbyists complained to cheng hu to help

MAS proposes simplified leverage requirements for S-Reits, imposes minimum ICR threshold of 1.5 times

https://www.straitstimes.com/business/mas-p...old-of-15-times

40 to 45 and now 50%... the funny thing is they still think “A leverage limit of 50 per cent, together with the ICR floor, will continue to foster prudent borrowing by Reits,” said the authority.

Internalization is one way. And it has to be done right from the start, not sponsor throwing in properties they wanna offload to reduce their own leverage or save themselves.

KIT results: https://links.sgx.com/1.0.0/corporate-annou...05db98225ae08c9

Oui, long time no see uncle

I checked my DBS SG account, hmmm, haven't seen your payments yet... 



KIT has been losing money for some time... they are not earning enough to offset the expenses.



Still an old, free advice, stick to S-banks. Tried and tested. Been through multiple crises, kiasu kiasi Sporeans aren't gonna start shifting cash to CIMB and Maybank SG overnight... even with the frequent service disruptions and IT issues... they remain "patriotic" and perform their "national service"

We shareholders just "count the cash" and "follow the money".

Thank you, TOS,... and pls don't call me uncle,... I help out in the war and I may be able to run faster than you,...

KIT perf fee is pegged increase in dividend y-o-y, and there is a formula to calculate this. But if the dpu stay constant or drops, there is no perf fee, that's all. Base fee still goes as normal. They call this as 'aligned to unitholders' interest' since unitholders are for more and more dpu payouts.

I saw that they paid out dpu for 1H FY2024 based on a 'jacked-up' DI instead of the actual DI that they generated. For 1Q FY2024 DI, they too talked abt one-offs and some revenue not collected 'YET' because of timing diff's.... If KIT's mgmt keeps talking like this,... it looks dangerous to me.....

Secondly,... I saw all of the assets contributed LOWER DI year-on-year from the DI report. And then the mgmt said again,... this is because of many one-offs.

Thirdly, in the webcast call recently for 1H FY2024 reporting, the way one of them answered questions, it was so 'dodgy' and defensive.

I have 'replaced' 50% of my KIT's allocation with Boustead SG Ltd.

The lower 1H 2024 DI is largely due to timing differences as well as one-offs. Factoring in these differences to better reflect underlying operational performance, 1H 2024 adjusted DI would be $117.8 million2, 2.1% higher YoY against 1H 2023 adjusted DI of $115.4 million3