Singapore REITS, S-REITS
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 Apr 8 2022, 02:00 PM
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#621
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore  
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https://www.sgx.com/securities/equities/BWCU
EC World REIT finally in trouble. https://www.businesstimes.com.sg/companies-...oan-refinancing The risk of refinancing is well illustrated here. If creditors refuse to approve refinancing, the current liabilities will exceed current assets in short term. The same is true for other REITs. Better hope the refinancing can be completed in time. This post has been edited by TOS: Apr 8 2022, 02:51 PM |
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Apr 8 2022, 03:02 PM
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#622
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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QUOTE(donhay @ Apr 8 2022, 02:40 PM) I sold half EC world Reit beginning of March. Now still holding other half Let's ask sifu dwRK and Ramjade  What should i do now??Not so lucky   Well, the damage is done. If you run away now, you will bear the 10% lost today. Or, you can pray hard that the loans will be refinanced... According to SGX announcement documents, EC World will provide further updates on the refinancing. So keep a close eye on EC World's accouncement later. I hope this is just time mismanagement. All REITs basicially survive on loan refinancing, just that this time probably the financial treasurer/controller fail to get the loans refinanced on time. If it's not due to the REIT's fundamental issues then you can wait for value to recover, otherwise, something more serious could be brewing. This post has been edited by TOS: Apr 8 2022, 03:03 PM |
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Apr 8 2022, 10:01 PM
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#623
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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Maybe call our friend who is retiring in Australia. Hansel
 Don't know if he holds EC World or not. |
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Apr 9 2022, 01:26 PM
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#624
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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QUOTE(dwRK @ Apr 9 2022, 01:23 PM) small cap companies do not move the market...  just like btc... big caps drop 10%... small caps drop 30% or more... yes the recent sp500 & nasdaq run up mostly due to big caps... I also track the russell... it's not doing as well... ppl focus too much on sp500, dow and nasdaq, but I prefer looking at the russell to get a better picture of the economy... anyways... cheers Give up on him Hansel liked this post
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Apr 11 2022, 01:44 PM
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#625
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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  wongmunkeong liked this post
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Apr 11 2022, 11:52 PM
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#626
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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After EC World, another one in trouble with "negative working capital" issue. https://links.sgx.com/1.0.0/corporate-annou...3ffef639f8ae1d1 This time it's Dasin Retail Trust. Not sure if the lockdown in China scares the creditors. Will continue to monitor the recent reportings. wongmunkeong liked this post
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Apr 12 2022, 12:50 PM
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#627
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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   donhay and wongmunkeong liked this post
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Apr 14 2022, 06:00 PM
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#628
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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LEASE UPDATES AND SUSTAINABILITY COLLABORATION WITH THE UK GOVERNMENT’S MINISTRY OF DEFENCE AND DEPARTMENT FOR WORK AND PENSIONS
For Elite Commercial REIT investors: https://links.sgx.com/FileOpen/Elite%20CREI...t&FileID=712073 This post has been edited by TOS: Apr 14 2022, 06:00 PM |
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Apr 18 2022, 06:06 PM
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#629
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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KIT Business Updates: https://links.sgx.com/FileOpen/20220418%20K...t&FileID=712418
Tomorrow will be results from KORE, Keppel DC REIT and MNACT aftermarket. Stay tuned. This post has been edited by TOS: Apr 18 2022, 08:33 PM |
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Apr 19 2022, 12:07 AM
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#630
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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QUOTE(skyvisionz @ Apr 18 2022, 11:22 PM) Does invest in sg reit need pay tax to lhdn? Any withholding tax for Malaysian? Thinking to invest via moomoo Hello.No need to pay any foreign-sourced taxes to LHDN (at least until Dec. 31, 2026). https://www.mof.gov.my/portal/en/news/press...t-taxpayers-mof For SG side, no dividend witholding tax for Malaysian retail investors, true for S-REITs and other SG shares too. This post has been edited by TOS: Apr 19 2022, 12:17 AM |
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Apr 19 2022, 01:18 AM
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#631
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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QUOTE(skyvisionz @ Apr 19 2022, 12:50 AM) Any recommended sg reit stock? Thinking to migrate from mreit to sreit You can read the first page of this thread. Prophetful pinned one of my replies there. He himself has something to share too in the first post.In general, you are dealing with real estate properties. The REITs can be differentiated by metrics like purpose/sector (industrial, retail, student housing/hotel/hospitality, data centres, healthcare (e.g. hospital) etc.), market cap (large cap, mid cap, small cap). Of course you have other typical stock parameters like PE/yield etc. to look at too. I can't give any recommendations unless your risk profile or any preference is known. In general, large-cap/mid-cap REITs tend to have good sponsors, tend to be more stable (stock prices fluctuates less) and more liquid (many are constituents of say, STI or MSCI Singapore Index) but they have low dividend yields. On the otherhand small caps REITs are less liquid, (sometimes) they have poor sponsors, but they have high dividend yields. So to compensate for higher risk, you get higher yields. That said, overall returns should not just be dependent on dividend yields as price returns play a large part too in the long run. Hope that helps. This post has been edited by TOS: Apr 19 2022, 01:19 AM wongmunkeong liked this post
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Apr 19 2022, 02:05 PM
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#632
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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Apr 19 2022, 05:34 PM
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#633
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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Keppel DC REIT results: https://links.sgx.com/FileOpen/MREL_2022%20...t&FileID=712582
KORE results: https://links.sgx.com/FileOpen/MREL_KORE%20...t&FileID=712558 MNACT to come later. |
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Apr 19 2022, 08:28 PM
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#634
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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MNACT results: https://links.sgx.com/1.0.0/corporate-annou...c87d03350d3abe3
Tomorrow will be Keppel REIT and Mapletree Commercial Trust results aftermarket. |
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Apr 20 2022, 05:53 PM
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#635
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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Keppel REIT results: https://links.sgx.com/1.0.0/corporate-annou...533450805bda17c
MCT results: https://links.sgx.com/1.0.0/corporate-annou...a934bd502bf181f Tomorrow is Sabana REIT's results premarket. This post has been edited by TOS: Apr 20 2022, 09:02 PM |
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Apr 20 2022, 06:12 PM
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#636
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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QUOTE(cempedaklife @ Apr 20 2022, 06:04 PM) what happen to keppel DC today? “A further 10% increase in our portfolio electricity costs would have an approximately 3% impact to FY 2021 DPU on a pro forma basis.” See what your SG friends are saying. https://forums.hardwarezone.com.sg/threads/...4892367/page-51 https://www.sharejunction.com/sharejunction...pel%20DC%20Reit https://www.investingnote.com/stocks/SGX:AJBU#/all I personally observe the ICR has come down to 10. DCs are energy-hungry. Unless you sign triple-net-leases, which pass on the utility costs to your tenants, otherwise for colocation leases you have to bear all the utility bills. Colocation leases used to garner higher margins than triple-net since the REIT can argue that they have to spend on maintenance costs (and find ways to save that later). Now with inflation and high energy prices, this has turn the "margins" into liabilities. This post has been edited by TOS: Apr 20 2022, 06:19 PM wongmunkeong liked this post
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Apr 21 2022, 12:10 AM
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#637
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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Sabana Industrial REIT business update: https://links.sgx.com/FileOpen/Sabana_%201Q...t&FileID=712900 This post has been edited by TOS: Apr 21 2022, 12:11 AM wongmunkeong liked this post
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Apr 21 2022, 08:11 PM
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#638
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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Digital Core REIT business update: https://links.sgx.com/FileOpen/Digital%20Co...t&FileID=712946
EC World REIT's response to its refinancing delay "fiasco" in the AGM's relevant/substantial questions. https://links.sgx.com/FileOpen/ECWorldREIT-...t&FileID=713146 This post has been edited by TOS: Apr 21 2022, 09:57 PM |
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Apr 22 2022, 08:22 AM
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#639
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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https://links.sgx.com/1.0.0/corporate-annou...9b2fd3e72b73e1d
So Keppel DC REIT management realizes they made a mistake in their statement earlier. QUOTE The Manager hereby informs Unitholders that the footnote should be replaced with the revised footnote below: Based on existing contracts in place, a further 10% increase in electricity tariffs from 1Q2022 would have an impact of approximately 0.009 cents per Unit to 1Q2022 DPU on a pro forma basis. The Manager wishes to clarify that out of the portfolio of data centres, clients from the shell and core and fully fitted data centres contract electricity directly with the power suppliers. As for the colocation data centres, significantly above 90% of the electricity costs are pass through to the clients. Notwithstanding that the exposure to electricity price fluctuations is small, the Manager will continue to actively manage this and will proactively try to reduce this even further during contract renewal with the clients. The Manager will also work towards reducing the price of the contracted electricity that is procured through wholesale contracts with the electricity providers. Save as disclosed above, all other information contained in the AGM Presentation Slides and the Business and Operational Update Slides remains unchanged It makes me wonder how did they pass through electricity bills for 90% of colocation DCs since it's stated in the lease T&Cs that it won't be borne by clients. ---------------------------------------------- In another news, Cormwell Europeans REIT acquire 3 more logistics properties in Italy and Germany. https://links.sgx.com/1.0.0/corporate-annou...642acaafb200432 ------------------------------------------------ Parkway LIFE to report results today aftermarket. This post has been edited by TOS: Apr 22 2022, 08:22 AM |
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Apr 22 2022, 08:35 AM
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#640
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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QUOTE(prophetjul @ Apr 22 2022, 08:27 AM) Are you implying DC is misleading their shareholders? I am pretty sure colocation leases are different from triple net leases in the aspect of pass-through costs. You can check the third to last and second to last slides in the appendix of their presentation slides. https://www.keppeldcreit.com/en/file/invest...resentation.pdf "Overview of lease arrangements" Take the 5 DCs in SG which account for half of their properties. If you check all colocation leases, they have the exact same terms: QUOTE Client: Pays rent For Keppel leases of the 5 DCs in SG, Owner: Bears all expenses; responsible for facilities management "Due to the pass through nature of the Keppel leases, Keppel DC REIT will substantially enjoy the benefits and assume the liabilities of the underlying colocation arrangements between Keppel lessees and the underlying clients." Rather than saying misleading, clarifying how they "bear all expenses" while manage to "pass through significantly above 90% of electricity costs" to clients would be more reassuring. Remember that colocation leases account for the lion's share of their rental income by lease type (circa 70% for March 2022). Don't you think so? This post has been edited by TOS: Apr 22 2022, 08:39 AM Toku liked this post
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