Anyone looking at CMMT?? macam bargain price...

1 thing for sure, the price is at its lowest in 52-w period

The key question is - can malls still survive or do well given the influx of new malls with larger lettable area...

Further adding to this current economic climate with depressed spending power, will the malls report better income or will they be affected?

Even for those who survive, how many of them will continue to do well in the future??

Only good one I like is Midvalley so far...

Yup yup, fully agree.. Just that influx of malls will affect the "location" part of the equation as u will see more competition, an example will be bukit bintang where u see the malls are changing rapidly in terms of tenants and mall operators incurring capex to do renovation/refurbishments (think Sungei Wang and Starhill).

For the focus on M REITS - the following are involved in malls:

Pavillion REIT, KLCC REIT, IGB REIT, Sunway REIT, and Capital Malls Malaysia Trust.

N the stock market has sort of ranked the above REITs in terms of their overall performance as some of the above are currently trading at their 52-w low.

CMMT is switching from cash dividiends to proposing to give out units as dividends... meh.....

delete.. double post

This post has been edited by tangtang22: May 21 2020, 06:37 PM

A sign of weakness leh..

CMMT was quite poor before tht, now even worse.. Case in point, go check the value which they paid for Tropicana City Mall vs. the Current Market Value..

Only like the "Pavilion KL" assets whilst the other assets are diluting the overall portfolio's yield. So having a wait n see.

Thats the impact from Pavi KL's earnings.

But balance sheet wise - where do u think the other assets were financed from? N following from it, what's the impact to the finance costs n then the earnings?

Suggest to refer to the annual report regarding on the liabilities (hint: borrowings to fund the purchases of other assets) to understand the outflow of funds since the purchases of the assets.

In short, the asset of Pavi KL is A++ grade, but go buy other dan lain lain assets which are other grades, grade B or even grade C kind. So overall portfolio is now maybe A - grade? So the perception of Pavi is the asset is A++ grade but market is going to recognise it as A- or A at best. Transpose the above example into yield and you would roughly know which Pavi's share price is going up as fast or as robust of the other stellar REITs.

To track DPU is quite dangerous, if you read further and peel away some fancy marketing terms the operator come out in the presentation, i will go for yield. To be precise, yield of the property itself.

On that topic, i have noted some of the asset's yield has been on the downtrend prior to this and finally the price is now reflecting the yield. If you look across the data, it would be quite easy to guess where it is headed next.

Good luck guys, its going to be fun time ahead!

Office or mall also same thing , look at the yield of the assets , u will find discrepancy. So it’s a a matter of time for reit like CMMT falls to its deserving DPU, n thereafter the price of it.

Read through the financial statements n u will find all the info there , the only good thing about REIT is their disclosure is considered quite thorough in Malaysia context.

Not sure if u are aware of the major disclousures just announced few days ago. Would say it is a fair price right now.

Simply because a REIT is the "Exit" instrument for the owner.. so IGB Group will be happily selling the assets to the REIT, n cash out from it..