Hi guys, newbie here. Has a fundamental question to ask if a REIT is going to declare distribution in say, 2 weeks time. If I were to buy today, am I entitled to the distribution? if yes, does it matter if I buy now? or after distribution? as I am not sure if I buy before distribution, will be total wealth end up to be the same or not. Look forward hear from you guys

Hi Cherroy, thanks for the sharing. Noted on the price adjustment, appreciate it. Some mental block I have here,

Assuming I invested RM1k @ RM1 per unit (excluding brokerage cost for simplicity) ,I invested 5 business days before the ex-date and the interim distribution is assumed to be tax-free 4 cent per unit for 1H 2015. Can I say my distribution entitlement for 5 days will be roughly ( RM40 * 5/180 day) = RM1.11.

Is the distribution supposed to be calculated this way (apportion method) for those who came in half way since last distribution to the next distribution date?

On the ex-date, assuming the price did not change from my investment price of RM1, with 4 cent adjustment, the opening price will be RM0.96 like what you've mentioned.

Since my current 1K unit will be valued at adjusted price of RM0.96 ( equivalent to RM960) and plus the distribution I have received for the 5 days are RM1.11, so my total wealth is RM961.11, it seems like I have made a loss compared to my RM1k investment? is my calculation correct? feel free to correct me. As I am not sure how the REIT manager account for distribution for investor who came in half way.

Thanks for the link, I will check it out again

Hi Felix, Thanks for pointing out on the calculation. I will read the link provided by cherroy for more understanding.

Noted that REIT is not a fast way to earn profit, and need to be kept for a certain time frame, fully agree.

Since some of the REITs are going to declare interim distribution soon, I will check out my statement as well to rationalise my understanding on distribution.

Thanks again

Ok sure boleh, I will read all I can. Look forward learning from you guys! and gain the most from REIT investment

Pink spider, morning. I assuming there will be minor dilution along the way which should not be harmful to unitholder? and any particular reason why REIT manager opt for units as party of their payment instead of full cash? purely for them to share the distribution from the REIT in the future?

True, it is also good to conserve cash. Thanks for enlightening me. And little bit of dilution should be fine as the dilution would be offset by distributable income growth if NPI growth is positive which I think it will be for MV & Gardens.

I noted IGB has done AEI last year at the 3rd floor ( the cinema floor), you guys heard anything on upcoming AEI for 2H 2015? I used to hear MV want to take back some space from Jusco, but not sure what's the outcome now.

One bird on hand is better than 2 in the bush ya..

Hi all sifu, am currently studying SUNREIT, went to Putra Mall during weekend few weeks ago at lunch time, don't seems to see a large crowd shopping there. Though I understand there is rent-free period for the tenants now, can anyone enlighten me how is the crowd during weekday? Because if the visitor traffic is not encouraging, just concern on long term sustainability of the Putra mall although the jewel of the crown is still Sun Pyramid, would like to see Putra mall do well as well.

Thanks Hong, I will check out the article. Apart from PWTC activity, have you seen office crowd going to putra mall during weekday? I have seen office crowd at quill retail mall, but not sure about putra mall:)

Thank you Spider for the info. It is also good Quill REIT is not under MRCB-Quill REIT in my view, think needs some years for it to achieve stronger foothold. So many malls going around, think it is survival of the fittest.

On CMMT, spoken to someone who used to work at Capital Mall office overlooking Sungei Wang, heard that individual lot owner would like to sell the lot, but CMMT don't want to buy due to current weak condition of the mall. Have you guys come across any reported news that CMMT may dispose its stake in Sungei wang? If MRT is up and running, you guys opined the mall can come back alive and kicking?

I have not invested in CMMT, take note of the good yield, just concern on the rental drag from Sungei wang although CMMT does have many others assets..

Think could be due to Maybank upgrade on MRCB-Quill REIT to buy today, premised on above 7% yield, which give buffer to weather rising MGS yield etc

https://factsetpdf.maybank-ke.com/PDF/CN__6...f3386cb3bcd.pdf?

Haha, true also , bargaining power shifted to CMMT now. We shall see then as I am quite concerned on its negative rental reversion although other malls are doing pretty ok or good. Will study & monitor on Tropicana purchase if the asset performance could offset sungei wang declining performance in future

Thanks ya on the info ! will take note and monitor the performance. Don't want a mass exodus of tenants like what happened to Paradigm mall

Thanks ya for the useful info:)

True, 18% closed shop ( as per reported) , or 8% of NLA, not sure how big is the impact. I went to paradigm few times only, ya don't like to sempit parking space.

Exit of tenants should not be a major issue if a mall is strategically located with good appeals, tenant replacement speed should be fast. Will be interesting to observe how putra mall perform.

I did ask G200 staff at putra mall on the sales, she said lambat. Perhaps the cinema could be the crowd puller then

Saw bursa announcement, Sunway family members been acquiring SUNREIT in open market, any take on this guys? they signal SUNREIT < RM1.50 a good buy?

Yeah, if below RM1.45 don't mind to bottom fish! Haha

By the way, noted SUNREIT is going to cease payment of manager fees in the form of units w.e.f 2017, it will be fully cash payment thereafter. I read some news stating that the cessation is due to some GST implications, can enlightened me how does GST impact the issuance of units in relation to payment of managers fee?