Any one got update regarding atrium? regarding ceva logistic issue?
REIT, real estate investment...
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 May 29 2009, 10:10 AM
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Senior Member
3,944 posts Joined: Jul 2008  
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May 29 2009, 10:43 AM
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1,345 posts Joined: Dec 2007
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QUOTE(darkknight81 @ May 29 2009, 10:10 AM) Any one got update regarding atrium? regarding ceva logistic issue? this shud b the latest news frm BURSA site » Click to show Spoiler - click again to hide... « |
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May 29 2009, 01:00 PM
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Senior Member
3,944 posts Joined: Jul 2008
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QUOTE(fergie1100 @ May 29 2009, 11:43 AM) this shud b the latest news frm BURSA site Then why atrium does not move much compare to other reits? Any other bad news?» Click to show Spoiler - click again to hide... « |
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May 29 2009, 08:26 PM
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Elite
5,626 posts Joined: Nov 2004 From: Klang, Selangor
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QUOTE(espree @ May 28 2009, 11:21 AM) not worth to buy at above RM1.00? It is not worth for me because I aim to achieve at least 9% net yield.QUOTE(darkknight81 @ May 29 2009, 01:00 PM) Then why atrium does not move much compare to other reits? Any other bad news? ATRIUM has liquidity issues and it has always been a quiet counter. Investors rather wait and see what they can do to improve the company portfolio rather than throwing money in to see another Ceva case. |
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May 31 2009, 10:54 PM
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Senior Member
3,944 posts Joined: Jul 2008
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QUOTE(Jordy @ May 29 2009, 09:26 PM) It is not worth for me because I aim to achieve at least 9% net yield. I beliv all the reits have low liquidity issues... and they have secure the ceva logistic tenants for the next 3 years ....ATRIUM has liquidity issues and it has always been a quiet counter. Investors rather wait and see what they can do to improve the company portfolio rather than throwing money in to see another Ceva case. I beliv the current price weakness for atrium are due to their single portfolio of their properties... which is in warehouses only... .if economy turn worst ... whixch means all import and export will be affected... so can they still renew thweir tenant which are going to due next year....But at least i know 1 out of 4 properties tenants already renewed and with higher rate compare with last time from ceva of approximately 40k extra per month.......However.Risk is there for atrium... but i made up my mind to enter 1100 lots of atrium at 0.64 and 0.645 sen last friday... one of the reits fans now  with dividend of 8 sen ... the DY is 12 - 13% ....but not sure can sustain or not in future as worries for their 3 properties tenants which are going to expire next year..... |
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Jun 1 2009, 12:16 AM
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Junior Member
122 posts Joined: Jun 2005
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QUOTE(darkknight81 @ May 31 2009, 10:54 PM) I beliv all the reits have low liquidity issues... and they have secure the ceva logistic tenants for the next 3 years .... say someone buying at that prices last week and wondering who was that. ?? :-) I beliv the current price weakness for atrium are due to their single portfolio of their properties... which is in warehouses only... .if economy turn worst ... whixch means all import and export will be affected... so can they still renew thweir tenant which are going to due next year....But at least i know 1 out of 4 properties tenants already renewed and with higher rate compare with last time from ceva of approximately 40k extra per month.......However.Risk is there for atrium... but i made up my mind to enter 1100 lots of atrium at 0.64 and 0.645 sen last friday... one of the reits fans now with dividend of 8 sen ... the DY is 12 - 13% ....but not sure can sustain or not in future as worries for their 3 properties tenants which are going to expire next year.....I've been looking at this counter for some time, there is still ongoing dumping though. for what reasons not sure. Also, current yield is more like 10% as the last payout was only 1.6cents vs their normal 2cents +- This post has been edited by tanmat: Jun 1 2009, 12:18 AM |
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Jun 1 2009, 03:25 AM
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Elite
5,626 posts Joined: Nov 2004 From: Klang, Selangor
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QUOTE(darkknight81 @ May 31 2009, 10:54 PM) I beliv all the reits have low liquidity issues... and they have secure the ceva logistic tenants for the next 3 years .... 1100 lots? You bought that many? I beliv the current price weakness for atrium are due to their single portfolio of their properties... which is in warehouses only... .if economy turn worst ... whixch means all import and export will be affected... so can they still renew thweir tenant which are going to due next year....But at least i know 1 out of 4 properties tenants already renewed and with higher rate compare with last time from ceva of approximately 40k extra per month.......However.Risk is there for atrium... but i made up my mind to enter 1100 lots of atrium at 0.64 and 0.645 sen last friday... one of the reits fans now with dividend of 8 sen ... the DY is 12 - 13% ....but not sure can sustain or not in future as worries for their 3 properties tenants which are going to expire next year..... I'm holding only 10 lots bought last year, which I don't think I'm going to add unless they diversify. I am only aiming to accumulate more AXREIT or UOAREIT. QUOTE(tanmat @ Jun 1 2009, 12:16 AM) say someone buying at that prices last week and wondering who was that. ?? :-) Only 1.6 cents this time around? Well this is really going to dampen investors' confidence.I've been looking at this counter for some time, there is still ongoing dumping though. for what reasons not sure. Also, current yield is more like 10% as the last payout was only 1.6cents vs their normal 2cents +- |
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Jun 1 2009, 07:49 AM
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Senior Member
3,944 posts Joined: Jul 2008
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QUOTE(Jordy @ Jun 1 2009, 04:25 AM) 1100 lots? You bought that many? Er....my 1 lot = 100 unit the new regulation so is roughly about 70k I'm holding only 10 lots bought last year, which I don't think I'm going to add unless they diversify. I am only aiming to accumulate more AXREIT or UOAREIT. Only 1.6 cents this time around? Well this is really going to dampen investors' confidence. Yup of course UOA and axreit portfolio look healthier thus their pricing also don show much weaknesses....i understand the risk for atrium...with current yielding of 12 - 13 % it look quite attractive for me ... and i beliv by only holding 4 properties currently it will be not difficult for them to manage and renew their tenants i beliv...with NA per unit of 0.96 sen....Their debts level is quite low and i beliv they are planning for further expansion... |
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Jun 1 2009, 09:12 AM
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Staff
25,802 posts Joined: Jan 2003 From: Penang
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QUOTE(Jordy @ Jun 1 2009, 03:25 AM) Only 1.6 cents this time around? Well this is really going to dampen investors' confidence. 1.6 cents is without part of Ceva rental contribution, which is expected ahead in the market, that's why its price from 80+ cents to 60+ cents. In normal day, reit shouldn't have 10+% yield. The 10+% yield is current discounting some of difficulty that reit company might be facing like difficult to renew lease, softer properties pricing etc. Less diversificaiton of Atrium is the major disadvantage. |
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Jun 1 2009, 09:43 AM
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3,944 posts Joined: Jul 2008
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QUOTE(cherroy @ Jun 1 2009, 10:12 AM) 1.6 cents is without part of Ceva rental contribution, which is expected ahead in the market, that's why its price from 80+ cents to 60+ cents. Thanks Cherroy. In normal day, reit shouldn't have 10+% yield. The 10+% yield is current discounting some of difficulty that reit company might be facing like difficult to renew lease, softer properties pricing etc. Less diversificaiton of Atrium is the major disadvantage. agree with you. FYI atrium has the lowest Debt to equity ratio among the reits axis 51% atrium 22% hektar 75% starhill 43% QUOTE Wednesday, February 4, 2009 ATRIUM Real Estate Investment Trust has recorded an unaudited net profit of RM17 million compared to the forecasted income after tax of RM10 million as shown in the prospectus dated February 28 2007. The RM7 million deviation were contributed mainly by revaluation surplus gained from the revaluation of the investment properties of RM6.8 million and net savings in operating expenses Does that means the 7million increase in net profit was due to the paper gain from revaluation of their properties? As you can see the net profit does not drop and the DIVIDEND has been reduce.... i suspect they might use the cash for acquisition.... as i know they had attempt to acquire few asset before but fail This post has been edited by darkknight81: Jun 1 2009, 09:57 AM |
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Jun 1 2009, 10:27 AM
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Staff
25,802 posts Joined: Jan 2003 From: Penang
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QUOTE(darkknight81 @ Jun 1 2009, 09:43 AM) Does that means the 7million increase in net profit was due to the paper gain from revaluation of their properties? Yup, revaluation on properties needs to be done every 3 years, as properties price are creeping since 3 years ago, so almost every reit that undergone revaluation has some paper gain across.As you can see the net profit does not drop and the DIVIDEND has been reduce.... i suspect they might use the cash for acquisition.... as i know they had attempt to acquire few asset before but fail You have to look at the operation earning. Don't look at pre-tax or net profit figure as it has been distorted by the paper gain. As reit as giving out at least 90% of the earning, watching the DPU won't get wrong then. |
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Jun 1 2009, 12:59 PM
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Senior Member
2,991 posts Joined: Jun 2007
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QUOTE(cherroy @ Jun 1 2009, 10:27 AM) Yup, revaluation on properties needs to be done every 3 years, as properties price are creeping since 3 years ago, so almost every reit that undergone revaluation has some paper gain across. If the revaluation results in paper gain, then how do they distribute the earnings? Is the distribution by cash, or they give you additional units? How's the DPU calculated?You have to look at the operation earning. Don't look at pre-tax or net profit figure as it has been distorted by the paper gain. As reit as giving out at least 90% of the earning, watching the DPU won't get wrong then. Operation earnings: 40 Revaluation earnings: 60 Net earnings: 100 Distribution 90%: 90 Since the 60 paper gain is non-cash gain, where is the REIT going to find the cash to distibute? (PS: I'm looking at this like I'm seeing how companies distribute dividends.) |
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Jun 1 2009, 03:05 PM
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Staff
25,802 posts Joined: Jan 2003 From: Penang
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QUOTE(simplesmile @ Jun 1 2009, 12:59 PM) If the revaluation results in paper gain, then how do they distribute the earnings? Is the distribution by cash, or they give you additional units? How's the DPU calculated? 90% is referring to operation earning, not including the revaluation profit.Operation earnings: 40 Revaluation earnings: 60 Net earnings: 100 Distribution 90%: 90 Since the 60 paper gain is non-cash gain, where is the REIT going to find the cash to distibute? (PS: I'm looking at this like I'm seeing how companies distribute dividends.) The tax law stated they must distribute 90% of the operation earning. All distribution is cash. If operation earning is 40 then they at least will give 36. People look for operation earning only in reit assessment, that's why don't look at the surface pre-tax profit. DPU is the ultimate figure. Generaly Operation EPS x (90~99%) = DPU. |
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Jun 1 2009, 08:02 PM
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Elite
5,626 posts Joined: Nov 2004 From: Klang, Selangor
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QUOTE(simplesmile @ Jun 1 2009, 12:59 PM) If the revaluation results in paper gain, then how do they distribute the earnings? Is the distribution by cash, or they give you additional units? How's the DPU calculated? simplesmile,Operation earnings: 40 Revaluation earnings: 60 Net earnings: 100 Distribution 90%: 90 Since the 60 paper gain is non-cash gain, where is the REIT going to find the cash to distibute? (PS: I'm looking at this like I'm seeing how companies distribute dividends.) Easier way to look at it is to look at the two types of earnings they get:- - Realised income (income received from rental or capital gain) - Unrealised income (paper gain through revaluation of properties) Meaning to say that the 90% is based on the realised income. Note that the net income comes from both realised and unrealised incomes. |
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Jun 1 2009, 08:05 PM
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Senior Member
2,991 posts Joined: Jun 2007
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Thanks for explanation.
Now I can ignore P/E ratio and EPS when looking at REITs. QUOTE(cherroy @ Jun 1 2009, 03:05 PM) 90% is referring to operation earning, not including the revaluation profit. The tax law stated they must distribute 90% of the operation earning. All distribution is cash. If operation earning is 40 then they at least will give 36. People look for operation earning only in reit assessment, that's why don't look at the surface pre-tax profit. DPU is the ultimate figure. Generaly Operation EPS x (90~99%) = DPU. QUOTE(Jordy @ Jun 1 2009, 08:02 PM) simplesmile, Easier way to look at it is to look at the two types of earnings they get:- - Realised income (income received from rental or capital gain) - Unrealised income (paper gain through revaluation of properties) Meaning to say that the 90% is based on the realised income. Note that the net income comes from both realised and unrealised incomes. |
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Jun 3 2009, 12:20 PM
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Senior Member
3,944 posts Joined: Jul 2008
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Need somebody to clarify on the oustanding rental payment of ceva logistic to atrium. Anyone got info about this?
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Jun 3 2009, 03:40 PM
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943 posts Joined: Mar 2009
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Why are all reits very green today ? Want to buy some on dip..
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Jun 3 2009, 06:46 PM
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Junior Member
122 posts Joined: Jun 2005
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QUOTE(whizzer @ Jun 3 2009, 03:40 PM) Why are all reits very green today ? Want to buy some on dip.. yeah lar.. can someone please sell their reits This post has been edited by tanmat: Jun 3 2009, 06:53 PM |
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Jun 4 2009, 05:04 PM
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Senior Member
1,850 posts Joined: Jan 2003
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Been buying lots of ATRIUM last 4 days.
manage to get 50000unit x ave 0.642 !!! from, fundemental point of view, this counter has HUGE upside potential. From TA point of view, Selling Q is dying down. i c this counter is about to break up to 0.74, which is inline with other MREIT, because other REIT is about 30% from it's NAV. While @ 0.65, Atrium is trading @ 40% discount from NAV This post has been edited by Neo18: Jun 4 2009, 05:09 PM |
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Jun 4 2009, 07:38 PM
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Senior Member
3,944 posts Joined: Jul 2008
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QUOTE(Neo18 @ Jun 4 2009, 06:04 PM) Been buying lots of ATRIUM last 4 days. Yup agree with you manage to get 50000unit x ave 0.642 !!! from, fundemental point of view, this counter has HUGE upside potential. From TA point of view, Selling Q is dying down. i c this counter is about to break up to 0.74, which is inline with other MREIT, because other REIT is about 30% from it's NAV. While @ 0.65, Atrium is trading @ 40% discount from NAV  13% DY !!! * SINCE ceva case settled already... One more thing...atrium reits is buying its own unit that means future yield should be attractive and atrium will receive their own dividend through its holding of atrium....I bought 108000 units in one day time average 0.644 PER UNIT. last friday This post has been edited by darkknight81: Jun 4 2009, 07:39 PM |
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