No, I meant the management company/holding company might not wanna hold too much of the REIT units

Yes, that's true.

I don't know what is issue raised behind of the statement, that's why I guess it is about the issuance of unit to pay for manager fee.

As in ordinary sense on issuance new unit for capital, it doesn't attract GST.

So this need to be sort out between Reit manager and Custom.
As in term of tax perspective, it must attract GST if the issuance of new unit as a form of payment, which is fair stand by Custom pov.

what is the "ok" price to go in for igbreit?

What is the "ok" dividend yield for u?

U can safely assume 7.2 sen net dividend (that's the latest 12-months net dividend)

Current is 5.5% net yield at RM1.30

This post has been edited by Pink Spider: Sep 9 2015, 11:52 AM

seems good enough. thanks.

wah!! sui....






the young lady avatar...

Afternoon guys, I am new to MRCB-Quill REIT and did not follow much on this REIT, noted on its high yield. Can share any take on this particular REIT's prospect and also its management integrity? any idea how does the REIT plans to pare down its 44% gearing level?

Go its website see what are its properties.

no problem

bought pavreit ytday 1.41, today 1.52 . if sell off can get 7% contra gain lol.

My take on this:

1. SUNREIT's business operations is mostly standard rated (hotel, retail office).
2. By issuing units to a supplier (REIT manager), this would constitute as an exempt supply as per Customs (Refer to Guide on Fund Management).
3. If you have exempt supplies, that means any related input-tax incurred in generating/providing those exempt supplies can not be claimed, hence will charged out to P&L as an expense. This reduces the distribution to unit holder's.
4. I think it is too much of a hassle (paper work - messing around with tax invoices and normal invoices, contra notes, transfer applications and cashflow) to bother with two types of supplies. This distracts you from focusing on the standard rated operations and getting more profits to distribute out.


The following is the final para obtained from 2015 AR from CEO statement.

"The Manager will reduce the payment of Manager’s fees in the form of new units, from 50% to 25% in FY2016 and shall cease payment of Manager’s fees in the form of new units in FY2017. In all, we endeavour to deliver stable growth in distribution per unit in FY2016. "

I guess based on that statement they should be almost done negotiating with Customs. Ideally they should be proposing for the change in treatment for issuing units from being a "tax exempt" supply to become a "zero rated" supply. If that materializes, then everyone will benefit.

will queue tomorrow morning

Closing sell price yesterday 1.47

This post has been edited by wodenus: Sep 10 2015, 08:27 AM

in b4 it's a CRIME to trade REITs

hmm lets see today's opening sell queue. currently at 1.51. i queued at 1.52.

and buyback below 1.45?

True... but if you want to value a stock you own, you should use the buy queue because that is the price you can immediately sell it for

Buy queue is buyers that are WAITING
If u are not desperate to sell immediately, u can always queue at sell
Desperate buyers will come to u