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Tomorrow is the release of the fourth quarter and financial year ended 31 December 2019.
What is the expecations?
This temporary closure of the malls is becoming serious.
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Can someone enlighten me here?
SINGAPORE (Feb 17): The managers of Eagle Hospitality Trust (EHT) has announced distribution per stapled security (DPS) of 1.179 US cents for 4QFY2019 ended December, falling a whopping 24.4% short of its initial public offering (IPO) forecast of 1.56 US cents.
On a fully diluted basis, this translated to a loss per share of 0.568 US cent for 4QFY2019.
How is this a loss per sher of 0.568 cents for 4QFY2019?
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Fickle investors
FrancisLim ( Date: 15-Nov-2019 10:13) Posted:
Take time to heal the wounds, take time to regain confidence, and to respond to all the concerns. When bad news surfaced, stampede to the Exit.
jamesng ( Date: 15-Nov-2019 09:33) Posted:
| Up as usual slow. Down always fast and furious. |
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What happened to the 3 qtr earnings report?
It was supposed to be announced pre market today.
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If Eagle shows the earnings are real at 6 cents plus, i guess the buyers will come back in.
danger ( Date: 05-Nov-2019 09:03) Posted:
| the longists from 68 to 78c .. how in the world can ever recoup the losses ?? |
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https://investor.eagleht.com/newsroom/20191102_015017_LIW_VBFZHFZ9JVQLTJMT.1.pdf
RESPONSE TO THE SGX-ST&rsquo S QUERIES Eagle Hospitality REIT Management Pte. Ltd., as manager of Eagle Hospitality Real Estate Investment Trust (&ldquo EH-REIT&rdquo , and the manager of EH-REIT, the &ldquo REIT Manager&rdquo ), and Eagle Hospitality Business Trust Management Pte. Ltd., as trustee-manager of Eagle Hospitality Business Trust (&ldquo EH-BT&rdquo , and the trusteemanager of EH-BT, the &ldquo Trustee-Manager&rdquo , and collectively with the REIT Manager, the &ldquo Managers&rdquo ), wish to announce the following in response to queries raised by Singapore Exchange Securities Trading Limited (the &ldquo SGX-ST&rdquo ) on 1 November 2019: Queries from the SGX-ST: We refer to the Business Times article with the headlines &ldquo EHT says no requirement to disclose sponsor&rsquo s links to its largest investor&rdquo and &ldquo Frank Yuan' s firm sold six hotels to the sponsor' s founders, who then injected them into the 18-hotel portfolio that forms the IPO&rdquo . Please provide clarification on the following matters: a. When did the Sponsor acquire the six hotels from ASAP Holdings (&ldquo ASAP&rdquo ) and when were these injected into Eagle Hospitality Trust (&ldquo EHT&rdquo or the &ldquo Trust&rdquo ). Please disclose the dates. Answer: The Sponsor entered into the purchase agreements to acquire the six hotels from the Third Party ASAP6 Portfolio Vendors (as defined in the prospectus of EHT dated 16 May 2019 (the &ldquo Prospectus&rdquo )), i.e. ASAP, on 12 March 2019 and they were acquired by EHT from the Sponsor on 24 May 2019, being the listing date of EHT (&ldquo Listing Date&rdquo ). 2 As stated at page 276 of the Prospectus: &ldquo Prior to the Listing Date, the ASAP6 Portfolio Vendors have acquired the ASAP6 Portfolio from the Third Party ASAP6 Portfolio Vendors...&rdquo The definitions of the defined terms are set out in the Prospectus. b. What was the reason for the above arrangement as opposed to a direct sale of the hotels to the Trust? Was the payment to ASAP fully received in cash at the point of sale? Were the two transactions made at the same price and if not, were there any reasons for the differences in the consideration for the six hotels? Answer: ASAP is independent from the Sponsor and the Managers. ASAP sold the ASAP6 Portfolio to the Sponsor prior to the IPO in order to gain transaction certainty independent of the IPO process. As disclosed at page 276 of the Prospectus: &ldquo Prior to the Listing Date, the ASAP6 Portfolio Vendors have acquired the ASAP6 Portfolio from the Third Party ASAP6 Portfolio Vendors in consideration for, among others, promissory notes issued by Cayman Corp 2 and repayment of the existing debt relating to the ASAP6 Portfolio (save for the ASAP Mortgage Loans), which will be fully settled on the Listing Date with part of the proceeds from the Offering and the issuance of the Cornerstone Stapled Securities.&rdquo The purchase consideration for the Sponsor&rsquo s acquisition from ASAP and for EHT&rsquo s acquisition from the Sponsor was different as the Sponsor would put in place master lease arrangements and incurred other additional costs. As disclosed at page 276 of the Prospectus: &ldquo The purchase consideration paid by the ASAP6 Portfolio Vendors to the Third Party ASAP6 Portfolio Vendors does not include primarily the following: (i) the value of the Master Lease Agreements provided by the Master Lessees to EH-REIT (ii) the prepayment penalties for the prepayment of certain existing indebtedness and the Interest Differential Amount set aside in the Interest Reserve Account in view of the higher interest cost of the ASAP Mortgage Loans vis-à -vis the New Term Loan Facilities (iii) the capital expenditure to be completed post-listing for Crowne Plaza Dallas near Galleria-Addison, Sheraton Denver Tech Center, Hilton Houston Galleria Area and Doubletree Salt Lake City Airport and (iv) the payment to the relevant Hotel Franchisors to effect a change in control of the ASAP6 Portfolio.&rdquo c. Who are the beneficial shareholders and directors of ASAP? Do they have any relationships with the Sponsor, the Trust and their respective directors, substantial shareholders and key management? Please disclose specific information on these relationships, if any and how were they known to the Sponsor. Answer: The REIT Manager understands that ASAP is run by Mr Frank Yuan, Mr Norbert Yuan and Mr Jerome Yuan, among others. ASAP is a California-based acquisition advisory and asset management firm specialising in hotel assets, which has had known business dealings with the Sponsor in the past. As stated at page 130 of the prospectus: &ldquo The Third Party ASAP6 Portfolio Vendors are unrelated to the Sponsor.&rdquo In addition, ASAP is not related to EHT, the Managers and the Managers&rsquo respective directors, key management and other substantial stapled securityholders of EHT (&ldquo Stapled Securityholders&rdquo ). d. Please advise if there are any relationships between Mr Frank Yuan, Mr Norbert Yuan and Mr Jerome Yuan of ASAP. Please advise the aggregate shareholding interest they and their family hold in the Trust, if any. 3 Answer: Mr Frank Yuan, Mr Norbert Yuan and Mr Jerome Yuan have a family relationship. The respective interests of Mr Frank Yuan, Mr Norbert Yuan and Mr Jerome Yuan was disclosed in the Rule 240 announcement issued on 24 May 2019 (&ldquo Rule 240 Announcement&rdquo ) prior to the listing of EHT as summarised in the table below: Direct Stapled Securityholder Shareholder and ultimate beneficial owner Allocation of stapled securities of EHT (&ldquo Stapled Securities&rdquo ) Claydon Hill Investments Ltd Mr Frank Yuan 141,440,000 Stapled Securities Compass Cove Assets Limited Mr Norbert Yuan 120,000,000 Stapled Securities Bounty Green Assets Limited Mr Jerome Yuan 28,300,000 Stapled Securities While a total of 289,740,000 Stapled Securities comprising 33.4% of the total number of Stapled Securities in issue on the Listing Date was allocated to Mr Frank Yuan, Mr Norbert Yuan and Mr Jerome Yuan, based on the substantial stapled securityholding notifications filed by the relevant parties, each of them is not deemed to be interested in the stapled securityholdings of the other two parties (i.e. Mr Frank Yuan is not deemed to be interested in the stapled securityholdings of Mr Norbert Yuan and Mr Jerome Yuan, and so on). e. Please advise why Mr Frank Yuan, Mr Norbert Yuan and Mr Jerome Yuan (the &ldquo Yuans&rdquo ) did not invest in the Trust prior to IPO but only took up the placement units at IPO. Were they independently identified by the placement agent(s) or introduced by the Sponsor? Please disclose the circumstances how the placements to them were determined. Answer: Mr Frank Yuan, Mr Norbert Yuan and Mr Jerome Yuan were introduced by the Sponsor to the placement agents during the bookbuilding process for the IPO and subscribed for Stapled Securities in the placement tranche at the IPO price of US$0.78 per Stapled Security as part of a bookbuilding process by the placement agents. f. Please disclose whether, at any time, the relationships between the Yuans, ASAP, the six hotel assets held by the Trust and the aggregate percentage IPO placement to the Yuans were disclosed. If so, please provide details. Answer: It was disclosed in the Prospectus that EHT acquired the ASAP6 Portfolio directly from the Sponsor which had acquired the ASAP6 Portfolio from ASAP prior to the Listing Date. In any event, as mentioned above, ASAP is not related to the Sponsor, EHT, the Managers and their respective directors, key management and other substantial Stapled Securityholders. Each of Mr Frank Yuan&rsquo s, Mr Norbert Yuan&rsquo s and Mr Jerome Yuan&rsquo s respective stapled securityholding interest was subsequently disclosed in the Rule 240 Announcement prior to listing as stated above. Given that ASAP is unrelated to the Sponsor and the Managers and that EHT acquired the ASAP6 Portfolio from the Sponsor (not ASAP), there was no requirement to disclose the Yuans&rsquo relationship to the ASAP6 Portfolio. 4 For and on behalf of the Board Salvatore G. Takoushian Chief Executive Officer Eagle Hospitality REIT Management Pte. Ltd. (Company Registration No.: 201829789W) as manager of Eagle Hospitality Real Estate Investment Trust Eagle Hospitality Business Trust Management Pte. Ltd. (Company Registration No.: 201829816K) as trustee-manager of Eagle Hospitality Business Trust 2 November 2019
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While they trim, someone is buying up their shares? Who?
CheeryVGoh ( Date: 01-Nov-2019 15:54) Posted:
The BIG BOYS like Claydon Hill & Compass Cove, etc still have alot to trim, that' s one big part of the reasons.
prophetjul ( Date: 01-Nov-2019 15:47) Posted:
51 cents. Is this stock really that bad?
10% yield ex QM |
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51 cents. Is this stock really that bad?
10% yield ex QM
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Half baked?
CheeryVGoh ( Date: 01-Nov-2019 11:59) Posted:
SG Wealth Builder
What a bad start for a REIT that barely got listed for six months! Debut in SGX only in May 2019, US pure-play REIT is facing some sort of crisis lately. At the centre of the storm is an astonishing article by The Edge Singapore revealing toxic inspection reports and a letter from the City of Long Beach to Urban Commons, sponsor of Eagle Hospitality Trust. In that letter, it was alleged that Urban Commons failed to meet obligations under The Queen Mary ground lease to make certain repairs required under the lease agreement.
The Queen Mary is one of the 18 properties held by Eagle Hospitality Trust, with valuation of USD159.4 million. Only Holiday Inn Resort Orlando Suites Waterpark, with valuation of USD162.8 million, carries a higher valuation. In this regard, The Queen Mary is one of the key assets of Eagle Hospitality Trust and the loss of this asset would likely have significant impact to Eagle Hospitality Trust.
Eagle Hospitality Trust in dark chapter
The 23 October article by The Edge Singapore spooked the hell out of investors and sent the unit price spiralling out of control. The counter fell from USD0.65 to USD0.55, prompting the manager to swiftly seek clarification with the sponsor. Subsequently, the latter confirmed that &ldquo they are not in default on The Queen Mary ground lease and that The Queen Mary remains safe and structurally sound&rdquo . It was also clarified that the letter from city of Long Beach is a formal request for request and not a notification for default.
On 28 October 2019, it was further confirmed that the total repair costs for The Queen Mary amounted to USD7 million and that Urban Commons will be responsible for costs involved. For sure, USD7 million is a small amount. Even if the sponsor is not willing to take up the responsibility for the repairs, Eagle Hospitality Trust can easily foot the bill with its $67 million cash on hand. With these in mind, investors of Eagle Hospitality Trust should be able to sleep better at night. Or is that so?
In my view, the issue of The Queen Mary had been blown out of proportion. But this is not to say Eagle Hospitality Trust is a good stock to invest in. A review of the financial results revealed some very disturbing data which could provide the rationale for the sell-downs by the big boys. In this article, I will share my insights on this data and explain why it scared the living daylight out of the big boys.
Investors must be aware of the big boys&rsquo movements for this counter to avoid getting caught with their pants down. Apparently, before the shambolic condition of The Queen Mary came to light, there were a series of sell-offs by the big boys in the preceding months. And Temasek Holdings is one of the big boys.
Note that this is an opinion article and not meant to be a financial advice. Please do your due diligence or engage financial advisors before investing in the stock market. Furthermore, I am not vested and have never invested in this counter before. Whether Eagle Hospitality Trust unit price will surge or collapse has no impact on me. Thus, this article is not meant to induce readers to make any form of investment decisions.
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The 90% payout rule is on their earnings, net of expenses including financial expense.
valuefish ( Date: 31-Oct-2019 16:44) Posted:
Then its just kicking the time bomb down the road because there is no such thing as refinancing the loans forever till judgement day. Most reits will just call for a rights issue from time to time to bring their gearing down and many reits suck in more money than they payout over the course of their listing. As a long term holder, you will like be asked to fork out more cash from neverending rights issue by this reit. Of course most reits will seek to mitigate this effect by doing a private placement.
Again, REITS HAS NO INHERENT WAY to pay back their liabilities organically because of the 90% payout rule.
HK Land gearing is 0.1 as of now and management has hinted that their profit will be so much that they can become net cash in the next 3 years assuming no capex or big ticket land acquisitions.
chengwh1 ( Date: 31-Oct-2019 16:37) Posted:
The secret to a REIT is that it must be able to refinance its loans - that' s all. Whether the dividend paid out is from bank borrowings, or from actual rental collected,... is a matter of mathematical calculations and how you interpret the movements of funds to be.
Wouldn' t HK Land has loans too ?
Sure, SS developers - but as Income Investors, I am here for the Dividends. And the tax regime of the IRS is not so favourable towards dividend payouts for non-residents |
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Why do you think their results will be unlikely outstanding?
dcools ( Date: 31-Oct-2019 03:57) Posted:
total share issue at IPO was 580m, so there are plenty of shares stuck at USD .78 unless eagle announces outstanding results, which is unlikely, so imho eagle still will slide further.
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Thank You very much! 
JDAmateur ( Date: 30-Oct-2019 13:30) Posted:
| Access fm the " Edit" to change PW, the tab is just beside the " logout" on the top right. |
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How do you change your password in Sharejunction?
Thanks
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How do you read the short sellers? Does not seem to be a lot?
CheeryVGoh ( Date: 29-Oct-2019 20:47) Posted:
| Last Traded |
Price Range |
Total |
Short Sell |
Short Sell |
Short Sell |
Avg |
| on |
on |
Vol (k) |
Vol (k) |
Vol |
Value |
Short Sell |
| 29-Oct |
29-Oct |
on |
on |
% |
SGD (k) |
Price |
| |
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29-Oct |
29-Oct |
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on |
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29-Oct |
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| USD 0.565 |
0.565 - 0.600 |
29,267.30 |
2,298.50 |
7.9 |
1,806 |
0.576 |
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Seems there are lots of news and speculations on EVERYTHING!
Just have one comment. On ship building and repairs.
i have done some ship repairs and conversion before.
USD200 mil for ship repairs is an almighty sum. It would basically mean VERY major repair and rehabilitaion works that the ship will be out of operations for at least 18 to 24 months and docked for the repairs.
Bear in mind this is not an ocean faring ship. Its just a laid up vessel. So it would most probably mean that most repairs are structural in nature. Therefore, it could mean only 8 to 12 months repair time.
However, in situ maintenance will not cost that much if the repairs are minor in nature.
Most major repairs will have a life tenure. It would be good to know when the last major structural repair was carried out.
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Eagle has flown
shk363 ( Date: 29-Oct-2019 09:08) Posted:
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59 cents
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56 and 57 cents actually
danger ( Date: 25-Oct-2019 11:49) Posted:
| prophetjul eagle diving from 58cents |
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i think without the QM, the rest of the properties are pretty good ones.
A yield of at least 8% at this price is really realistic.
Goldfinger ( Date: 25-Oct-2019 09:28) Posted:
I grabbed 50 lots - will load more if it falls more.
danger ( Date: 25-Oct-2019 09:08) Posted:
| anyone loaded around 57c ... cheap sale |
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May be gone into your pocket. 
danger ( Date: 25-Oct-2019 09:18) Posted:
Worry about the integrity and where has the 23 million gone to ..........
pocketed ?
danger ( Date: 25-Oct-2019 08:59) Posted:
Pribonic said he stood by his reports as documents noting the state(condition) of the Queen Mary as a whole.
I question how you can go through $23 million and get virtually nothing done, Pribonic said, and there &rsquo s no problem with that.
As for where the ship goes from here, Pribonic said it &rsquo s unclear, because his understanding is that Urban Commons simply doesn &rsquo t have the money to keep up with the necessary work.
Keisler acknowledged funding is an issue, but he said the operator is working cooperatively with the city to come up with solutions.
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