Even if transfer to IDX, the owner will have to do a compulsory takeover to delist, at NAV or slightly above that subject to shareholder approval.

So you can based on your judgement for that..

First Reit NAV = $1.02
Lippo Mall NAV = $0.39

Dont panic too much, the move might not happen and if they want to privatise it, they will have to pay some premium to NAV (The property cost) plus revaluation for this year as well.

Lippo mall is currently trading below NAV, that is why there is no panic selling now..

This post has been edited by gark: Oct 30 2015, 04:27 PM

Yeah .. its about right, it's a property after all.. a slight premium to NAV

Still got wide range of other reits what...

Creosus is Japanese mall reit.. quite good management and assets (assets from Aeon Japan)..

I am invested.

This post has been edited by gark: Nov 2 2015, 02:34 PM

Recently top up more Creosus and keppel DC...

Fortune REIT looks very good too..

This post has been edited by gark: Nov 13 2015, 10:28 AM

Its all about the DY and sustainability of the DY.. nothing else matters.

I also Q this morning... long wait..

The 'kiasu' in me .. tell me not to buy up

IMHO APTT dividend is not sustainable due to the HUGE yearly capex incurred, hence FCF is very much diminished. The fund has been increasing borrowing to pay dividend for the past couple of years. If it continues on this path, the share price will continue to diminish.

You must consider the dividend given by APTT as part dividend and part capital returns to see the whole picture.

This post has been edited by gark: Feb 29 2016, 10:59 AM

So far most industrial REITs are paying according to cashflow, so the dividend is somewhat sustainable as long as the tenant profile does not change.

For industrial REITs, most important factor is to look at average remaining land lease period. In singapore once land lease expiry reaches <15 years, the property price will actually reduce yearly until the cost of land = 0 at end of land lease. If the REIT decide to renew the land lease, they have to repurchase the land again from the Singapore government. This depending on location can cost upwards of 30-40% of the property value now. For industrial REITs which is paying anything from 90%-100% in dividend, cost to re-buy the land will need to be funded either from borrowings or rights issue. Or, they can choose to sell of the land at least 15 years before expiry, albeit at a LOWER price and take some capital loss.

This too, you can consider the dividend you receive as part of your capital repayment. Actual dividend = Total dividend payment - Capital repayment. So NOT all dividend is equal, why do you think they have such high dividend rate?

Quick way to calculate the actual capital repayment part = 1/Average land lease (years) x100%/2

Why divide by 2? We assume roughly land renewal cost is 50% of asset value, as it is hard to predict land price 20-30 years in the future.

This post has been edited by gark: Feb 29 2016, 12:30 PM

Nobody interested in ARA asset management? 4.5% yield.. very stable income stream.

They are manager of REITs, several listed and unlisted REITs. Get back the money you pay for the reit management.

Emm their Aussie properties looks Ok with long WALE. For their SG based industrial property is a bit shaky, occupancy is coming down and rental revision is not going up.

look at what is happening to sabana for now.. the DPU keeps dropping and so it the price.

Only concern for me is their biggest property at $349 million which the leasehold land is expiry in exactly 19 years time. Thier new DHL distribution hub is impressive, with long WALE.

Not a bad stock, but have invest with both eyes open ...

Got a bit only..

Best place to check for SG reits valuation..

Especially this link.

You can check quickly for yield at reitdata.com too.

Also this blog for REIT investing and BIG MOTIVATION for passive income.

Enjoy....will take you a while to read through all that.

This post has been edited by gark: Jan 14 2017, 05:42 PM

Haha still around, been busy lately.

Bought a bunch of reits during the mini sale last december. Bought crt, fct and aareit at good prices.

This post has been edited by gark: Jan 15 2017, 08:39 PM

In my opinion is not worth it, unless you are super lazy and want worry free investing.

Reason is the etf have to pay 17% tax on dividends recieve and after management fees, you are left with a low divvy rate. The etf is currently giving only about 4+% divvy vs ~6% if you invest yourself into your own same basket of reits.

Well even if the etf can avoid the 17% tax, the management fees will still eat into the divvy payout.

The only good thing about this etf is it gives you some direct exposure to ASX and HKEX reit counters.

But you can also opt to invest in ASX and HKEX reits directly too but need to do some homework.