Yup, the company didn't do a good job to clarify what and which properties they are going to inject which leave a lot of shareholders in dark currently.

When the rational plan coming out or announced time, should already list out and put out details of rationalisation plan, instead just inform they are going to be a hospitality reit without any other informatin.

I forsee and wish the company quick in dealing in this issue, if not, shareholders have no foresight or expectation how future of the reit yield will be and what properties are actually in the reit portfolio.

Yes i oso think so , coz some of the malls oledi inject into capital asia mall trust, IPO last year, listed in SGX

It depended on valuation paid which dictate the yield of it.

Reit is not running the hotel, but own the properties and rent the properties to the hotel management company.

So all depended how much valuation paid and how much rental that can get from it.

Lot 10 and Starhill can get good rental, but properties valuation is high as well.

Reit is about yield, not only rental amount. For eg, you paid 500 millions for a mall, you might get 25 million rental, but it is 5% yield only, compared to a 50 million hotel but can get 5 million rental. In the end of day, the hotel will be seen a better yield properties.

This post has been edited by cherroy: Jan 22 2010, 12:53 AM

Agree on what u say

but

First but, if the hotel is not making money how can the hotel pay u good rental

Second but, yes rental yield is depend on valuation, BUT , u can give discount when u inject the asset into the reit esp in this case YTL to REIT by YTL

This is AND not BUT

and rental yield and asset value is just like chicken and egg, if the rental is good some how the asset value will go up, and the egg and chicken, oso same lar

does matter about the value and yield, over oledi, now the pressing issue is

What value the Starhill Global wanna buy Lot 10 and StarHill Gallery, at NAV, NAV discount or NAV premium ????

This may not be important for francis as this is his left pocket to right pocket BUT for me very important

%$%$##@$$#%$^$#^$$##@$#@$

How can francis do corporate deal like Sy Mota ? so many grey area

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Added on January 22, 2010, 1:10 amerrata , does not matter



This post has been edited by mok thye yee: Jan 22 2010, 01:10 AM

Sadly to say, RPT is norm in reit across, as long it doesn't hurt shareholders benefit, then nothing to complain much. Even Genting had RPT as well.

Starhill Global should buy lot10 and Starhill at NAV or a little bit discount on NAV (like no more than 3-5%).

At NAV level, Stareit shareholders actually gain and realise the properties revaluation appreciation.

Next ultimate question, is what properties being injected, and valuation of it and yield of it. This is something we eager to know and need to know as soon as possible.

YES YES YES

now all YES no but

agreed. Francis sud present the complete plan and let the unit holder to decide, not make us puzzle.

He sud state clearly

(1) STARHILL & LOT how much sold
(2) HOTEL A,B,C,D how mcuh buy

if he is not ready, he should NOT disclose any information. This is basic corporate governance. cannot always buli the minority one coz all thses info is price sensitive.

GENTING RPT.... aiyo sick of them, everytime i see they do these lousy RPT, i just feel like write an open letter to Najib to windfall tax all their RM 5 billion.

"ONE HIT TWO SEPERATE"

If not mistaken, I think on 1) do mention it will be sold at NAV and being paid by cash + preferred of Starhill Global

It is no 2) issue now, which I agree, if not ready, then don't need to disclose the rationalisation plan. When announced time, should have all the details and complete proposal.

O somehow i miss the (1). must be during my outstation asignment.

preferred is Preference Share rite ? those end with PA, PB rite ?

So all these STARHILL GLOBAL PA will be distribute to the unit holder of StarHill REIT (to be renamed to GLOBAL HOSPITALITY REIT), coz i dun think M-REIT can hold any thses PA , PB stuff ..... rite ?

The disposal of Lot 10 and starhill is bringing in a net gain of RM228.9 million for STAREIT since it's purchase of these properties in 2005. They have six months from Nov 18th 2009 (proposal date) to finalise purchase of properties in hospitality sector. Though one may be a little suspect with valuations of these YTL owned assets being sold to STAREIT, on the other hand they very well know what they are earning from these properties and therefore if nothing else at least be able to continue providing current yield fo 7 to 8 % p.a. so I wouldn't be unduly worried. Greater fear is in lower numbers of tourist arrivals due to bad publicity from religious strife such as church attacks. Secondly global economic fallout especially bursting of Chinese property bubble and EURO countries credit downgrades. But which counter is truly safe? there are no guarantees.

We will have no comments on any upcoming REITs until their prospectus is launched. Until now they have not confirmed their listings and launched their prospectus if I'm not mistaken. So it is very hard to tell, not knowing the details of their portfolio.

Axis REIT plans new acquisitions

http://www.btimes.com.my/Current_News/BTIM...00121180325.pdf

Good news that at least 50% of Nestle House would be taken up for a long-term lease, but we'll have to see the details of the agreement to evaluate the benefit. Another worry is the cost of the full refurbishment for Nestle House, which will affect the distributions for the next 2 quarters.

i am holding AXREIT share, how much dividend can they declare in a year? I bought it at rm 1.95, so 5 sen this time is too little.

BrendaChee,

REITs normally declare dividends quarterly, except for some who have opted to declare semi-annually. AXREIT declares quarterly (about 4 sen each), so basically the potential annual distribution for AXREIT could be in the region of 16 sen.

Jordy,

Thank you for your info. At least i can get 8 % per year still not too bad...

not exactly, remember to minus the 10% tax.

The one that delivered good recent Q announcement is Qcapital, 4.x cents DPU.

i am waiting for sunway REIT, i think if i can get the ipo, sure can gain....any idea how much the price will be?

cherroy,

Please correct me if I'm wrong. I thought QCAPITA announced 3.9 sen dividend this quarter?

BrendaChee,

Don't assume that you will surely gain. You and I don't have a crystal ball to predict that. Also, nobody can predict the IPO price.

If there are sure things in investment do you think you still have the chance to get it ?

This post has been edited by darkknight81: Jan 23 2010, 07:49 AM