Hi Sifus,



TWRREIT - NOTICE OF BOOK CLOSURE
LISTING'S CIRCULAR NO. L/Q : 55984 OF 2010
Final Income Distribution of 5.00 sen per unit (of which 4.99 sen per unit is
taxable and 0.01 sen per unit is tax exempt in the hands of unitholders).
Kindly be advised of the following :
1) The above Company's securities will be traded and quoted [ "Ex - Dividend"
]
as from : [ 18 February 2010 ]
2) The last date of lodgement : [ 22 February 2010 ]
3) Date Payable : [ 25 February 2010 ]
MANAGER, SEC. MARKET

So in this case,


(4.99*0.9) + 0.01 = 4.501 cents

I'll be getting 4.501 cents, is this correct?

Yes

Where do u see Starhill GBI price? And, can we buy in Malaysia?

http://finance.yahoo.com/q?s=P40U.SI

You can only buy if you have foreign trading account in Singapore.

morning guys. so quiet this thread. went back to kampung already ka?

already disposed off the under performer bsdreit just before ex. missed divy but gain if compared with the amount of the price adjusted after ex yesterday. - 7cents with the closing price 1.30!

will look again after first q report or price drop to 1.20...

i believe handsome neo also busy disposing his as well...

selamat tahun baru cina to all my kawan-kawan...safe drive and enjoy, then come back to spam here again..

Wish Everyone a Happy Chinese New Year

I'm currently looking at both ATRIUM and UOA.
I prefer ATRIUM over UOA, because of their assets.
ATRIUM has 4 industrial sites each only have 1 tenant, which is simple, and with the leasing contract, income is consistent
only 1 of them has leasing contract until Sept 2010, others will at least untill next year or so.

I didn't take a look on all their historical data, but the most current one seems promising.

This will be my first time purchasing a REIT, I assume the process are the same as buying a stock.

Gurus, mind to give me some advice about REIT?
is it an OK time to buy ATRIUM now at RM0.9 or RM0.91?


Thanks

Don't bang on just one, diverse your reits investment.
If everything runs well for Atrium it will turn out to be quite fruitful investment, since Atrium only have 3 industrial properties,
for anyone of it to go down will contribute very high risk in term of ratio (1/3 of risk factor).
Spread your fund to other reits to diminish your risk.

There is always pro and con.

Atrium's EPS suffer greatly when one of its tenant moved out, last 2-3 Quarter ago, which DPU from 2.x cents drop to merely 0.8 cents.

While for more diversified tenant, you can avoid or reduce this effect to minimal.

While if everything is well, surely less tenants give you less headache.

So, can't say which is for sure good.

I see that UOA REIT website doesn't has much information

http://www.uoareit.com.my/investor.php

it doesn't even has the latest information.

I can find more up to date information on other site.

http://www.theedgemalaysia.com/business-ne...ofit-up-25.html

All the Gurus,

Do you think it is better to seperate our investments in REITs with different assets?
likes
STAR in tourism & hospitality (after disposing starhill gallery and lot10, do we have update on which properties they will add using the available fund?)
ATRIUM in industrial
UOA in office
HEKTAR in retail

Different people may have different view, there is nothing right or wrong or which is better.

But personally view that,
It is better to have diversificaiton on assets to spread out the risk.

Among all, Axreit is seems to be the one more diversified, from office space to industrial. But recently, it is more towards industrial, as newer acquisition mostly on this side.

Office space is the most lucrative, but office space will be under some pressure in the next 2-3 years due to more supply with more and new building coming into the market, while economy situation is so so, aka demand may not pick up quick enough to meet the more supply.

Guys... a noob question from REIT newbie here

... i read somewhere in other forum / news that all REIT counter "COMPULSORY" to distribute out 90% of their profit as the dividend. when i browse through all the REIT , there are some confusion i need to make clear out


HEKTAR

EPS = 11.61cent , Div = 10.61cent (OK!)

AMFIRST

EPS = 41.74cent , DIV = 8.75cent (ABNORMAL!)


Can someone explain to me why the dividend was so much different but AMFIRST EPS is 4x higher than HEKTAR but distribute lower dividend?

sohkeong,

REITs are required to pay at least 90% of their REALISED earnings to be tax exempted at corporate level. As per your question, AMFIRST's EPS is made up of realised and unrealised profits. Unrealised profit is not considered as earnings, therefore it is not required to pay it out as dividend. Please check the individual quarterly report to find out the realised portion of the profit.

you mean realised profit is from rental collection and unrealised profit is from disposal of assets n etc?

---

Added on February 20, 2010, 11:32 amthx jordy, i just go through the annual report.. now i understand why the dividend so low due to realized profit EPS was just 8.75cent

but i dont understand why the adjustment of NAV value is considered part of the profit?? can explain further?

This post has been edited by sohkeong: Feb 20 2010, 11:32 AM

When you buy an asset, the asset will appreciate most of the time.
That appreciation is regarded as paper gain/unrealised gain before you dispose that asset for earnings.
One you sell, you only make the real money into your pocket right?

When you make profit, you NAV goes up in your balance sheet, because the company has more money now due to profit.

NAV adjustment come from properties revaluation which is paper gain. It is profit lead to NAV increment, not NAV increment lead to profit.

so comparing HEKTAR (low NAV increment , high dividend) vs AMFIRST (high NAV increment , low dividend).

which one good for long term investment??

If properties value increasing every year and also aggrasive acquistion by the group, very likely the dividend rate will increase year by year rite?

sohkeong,

Realised profit is from rental income AND disposal of property. Many explanations have been given for unrealised profit.

For long term, you would want the NAV to keep increasing. Once they decide to dispose off the property, most likely the distribution would be higher due to extraordinary gain. An increasing NAV would also be an indication that the price of the counter would increase as well (share price is relative to the NAV).

Revaluation of assets does not mean higher/lower income, but if the group is aggressively acquiring yield accretive assets, then the dividend MIGHT increase.

any example of recent REIT counter that dispose property?

btw, i really headache now trying to evaluate which counter is best for my long term investment..

AMFIRST = 6 big asset , HEKTAR = 4 big asset

based on tenant occupancy rate , i think AMFIRST should be better than HEKTAR rite?

But why so many ppl like HEKTAR much more than AMFIRST?

My reason for choosing Hektar :-
- Quarterly divy (AMFIRST pays half yearly)
- Shopping lots have more visibility - e.g. see more ppl at the property=good for the REIT

sohkeong,

Up to now, I do not know of any REITs disposing off any property. Reason being that the REIT industry has just been a little more than 3 years in Malaysia, and the main purpose of REIT is for long term investment, so they won't dispose their property if the yield is accretive.