Aiya, if u have researched before then u shud know why the topline n bottomline is like that. And u shud also know what mgr is doing about it. I believe we will see a change from 2016 onwards.

Hopefully, one day there will be a catalyst to make the share price exceed the NAV like axisreit and others.

Wah your current shareholding = huat 99 d!

No need Reits le, unless u kiasu for dividends n also wanna trade Reits haha

Your average price versus current share price now seems not that interesting. Why don't u consider other Reits with more potential plus good yield or other better potential stocks that may become the next Taan or HLInd.

U mentioned before your average is around 1.26. I remember coz mine was 1.27 haha

But I sold my reit stocks d. The holdings too small to bring any value. Wanna prepare funds for future shopping if it comes haha

wah lau respect!

we just discussed few hours ago, already hantam satu lori! hahaha niceeee

wow... what's happening to IGBReit. Someone's target price to buy at 1.27 hit jor

Hmmmm.... I wonder why quite a fair bit was dumped at 1.26
Overall, I think there's chance for the price to head down to 1.25
But whether can reach 1.20..... something major has got to happen soon eh. Christmas/New Year surprise?
Then wholesale for Reits d hahaha.

I think the revaluation deficit is normal... so in my opinion it does not indicate there is property bubble yet. I have seen some REITs and listed companies having revaluation deficits before.

If you read the article properly, the main reasons affecting Subang Parade and Mahkota Parade was due to:
- general softening of the retail market arising from the current poor economic condition.
- increasingly stiff competition from the surrounding area which led to rental rate compression, resulting in lower market value.

To me the above basically means there is too much competition from other nearby malls and other hot spots
(e.g For Subang - Empire Mall, Aeon Big (formerly Carrefour), First Subang, SS15, Pyramid)
For Malacca - Dataran Pahlawan, Hatten Square, Jonker Walk)

The tenants can't gather enough cash inflow to withstand the rental rates and operating costs to last on a monthly basis. A lot of businesses also got screwed from GST (implementation cost + waiting for refunds to come in + customers delaying payment or request for longer credit terms).

But on a side note, even with all the renovations/revamps done on Subang Parade and Mahkota Parade, I still can't see any major pull-factor like what you would normally see in MV, Gardens, Pyramid, 1Utama and Pavilion.

For a real property bubble, I expect all properties across the board having their valuations going down.

There is still a lot of projects coming up around KL Sentral/Brickfields area and a lot of Mega projects all over.

It's like somebody had a crystal ball and knew that all this projects will 100% do well and will be fully tenanted.

http://www.thestar.com.my/business/busines...nies/?style=biz

Funny thing is they only mention KLCCP being affected by ExxonMobil.

No mention of other REITS and O&G companies.

This post has been edited by TC-Titan: Dec 29 2015, 12:17 PM

Hmmm PAVREIT wants to buy Intermark.

HLIB on PAVREIT

A more detail article can be seen here

PAVReit - Intermark

I agree that the Mall is quite empty. I wonder what are they going to do with the place to attract more walk-ins and make it close to a 100% occupancy. Is the GRR of 3.1% normal for retail units?

Eh go open a thread on BBCC in property section.

Hmmmm I must be missing out something. Please enlighten me if my understanding is incorrect.

Why is everyone considering just on whether the yield is attractive or not based on the current share price?

Shouldn't one be considering the div yield based on the price of the share they acquired plus the capital appreciation potential instead?

If the net yield versus the share price which you bought is still very attractive say 6% or above and has a sustainable growth prospect (i.e IGBReit), then why bother selling since the main objective is to have decent recurring growth dividends + margin of safety from capital perspective?

Unless of coz, the real emphasis is to take opportunity to exit to get capital gain (say 30% or more) or to swap to better stocks out there that are giving better yields + margin of safety for capital appreciation.

Deiii... ask more people to come along la!Belanja more people so can contribute to IGBReit's rental and distribution sustainability.
Find those seafood that MIA for long time. 2nd round at Micasa on you la, since you are the majorshareholder there lolz JK!

Walkways.... u mean the link bridge between MV and Gardens?

When you assess from volume perspective, you need to assess from the following to analyse on their liquidity:
a. market cap
b. No. of shares in the market after excluding treasury shares.
c. Who are the main shareholders - individuals, funds, corporations and what are their % in holdings
d. what is the normal average volume per day versus price movement if it was a normal day and a exceptional day.

Good mid to big cap stocks with a fair share of funds, corporations and individuals (mgmt/insider) that has low volume = the stock is stable.
So you're comfortable getting a continuous flow of dividends without much thought of share price fluctuating like a yoyo. The collective group of big boys usually won't simply trade if they have entered at a good price with good yields. Some funds like EPF, have too much stocks and holdings at hand, trading a few mill shares = small matter to them.

If you don't need the money, then I don't think selling should be an issue. Alternatively, you can book the buyer's price if you really need to sell.

I think it's strategic and smart move. They can't afford to repeat the same nonsense that happened to BTS last time.

BTS was launched in Oct 2003 and now has 3.2 mil lettable square feet inclusive of car park.
Latest occupancy is at 84%. The shopping mall has 12 levels.

Not all levels are tenanted. It took them a very long time to fill up some of the retail lots and then again, only certain floors are the focused hot spots.

If you were to compare over a long period of time on various factors (e.g on the tenancy quality, vibrancy, ambience, events held, volume of walk-in customers) for the mall versus other similar malls like MV, 1U, Pyramid, Sg.Wang and even Pavilion, I would say BTS has only recently been playing a catch-up game but still has a very long way to go to reach its full potential.

When they first launched, I thought WOW, this BTS is really some monster project. But turns out, it was poorly run and their decision at that point in time to sell the retail lots instead of leasing them screwed up the place with the quality of the tenants (some macam from pasar malam type) and the constant vacant retail lots due to non-sustainability on the rent in the long run.

How can a so-called iconic project in the centre of KL seem so... lau sai?
Honestly speaking, which mall would you prefer to hang out in if given an option? Confirm dot com BTS won't be the first in your mind, unless you're part of the lala gang hanging out at the arcades and trying out all sorts of clothing stuff or u're working near by the office areas and rather spend time there then being stuck in jam.

Car park rates are quite exp and there is also a limited number of parking bays available. Big difference in the overall maintenance and air quality versus the other malls. Lift and toilet issue can be quite a pain too.

Question is how do you ensure that all 12 floors are close to being fully tenanted with good traffic? What can future developers/asset mgrs/lessors etc learn from BTS?

Perhaps, imo, Unker VT was a tad bit too ambitious with his plan on BTS, which if I recall correctly was modelled based on either HK or the States.

On a separate note... Johor Sultan sold his 20% stake (150 mil shares) in BTS S/B at RM1.67 per share on Dec'15. He initially bought them from BJAsset exactly 2 years ago at RM1.00 per share. Interesting deal eh.

This post has been edited by TC-Titan: Apr 4 2016, 07:18 PM

More Malls to be expected from 2016 onwards.





I have attached an old article below, The expected quantum mentioned with some of them having an expected NLA of 1 mill above = potential big trouble for existing REITs that have this exposure?

http://www.thestar.com.my/business/busines...tage-of-retail/