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SPH Reit
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uiop1223
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02-Apr-2020 08:38
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Stay away from SPH related stuff la. Avoid even their newspaper | ||||
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des_khor
Supreme |
02-Apr-2020 00:07
Yells: "Tell me who is God or Market Fortune Teller in this forum ??" |
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God bless you never buy
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cobrajr
Veteran |
01-Apr-2020 23:50
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One thousand x o.ooo3 = less than 50 cents
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john_ric
Supreme |
01-Apr-2020 23:24
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giving less and less DPU quarter by quarter. | ||||
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john_ric
Supreme |
01-Apr-2020 23:21
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2H results: giving a pathetic $3 per 1000 shares.
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Yoshi89
Member |
04-Mar-2020 09:08
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Hi all. I' m new to stock. Just want to ask is Sph reit worth to buy now at share price of 1$? | ||||
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chengwh1
Elite |
09-Feb-2020 11:36
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Bumped into the following article in REITSWEEK on Feb 7th., 2020.   Major Australia REITs with retail exposures are expected to remain resilient, despite woes facing the sector, a major ratings agency has opined. This is especially so for Scentre Group Limited and Mirvac Limited, both of which have demonstrated strong financial profiles, said Fitch Ratings. Several major retailers across Australia have announced store closures since end-2019 till January 2020. Others have also entered into receivership or administration, including fashion retailers Bardot and Jeanswest, electronics-retailer EB Games, and discount department store Harris Scarfe. &ldquo We expect there to be further closures announced following accessories retailer, Colette by Colette Hayman, entering administration in the first week of February&rdquo , said Fitch Ratings. And a number of factors have been singled out for this situation, including subdued consumer confidence, entry of international retailers, changing consumer preferences, and heavy discounting in the face of increased competition. Fitch notes that the majority of store closures have happened in shopping malls, and REITs are at risk of increased vacancies including Scentre, Mirvac, Vicinity Limited, and Stockland Corporation Limited. &ldquo Fitch believes that these REITs will be able to withstand the impact on their high occupancy rates as retailers will continue to demand space in their market-leading centres and allow the REITs to continue to tailor their offerings to meet the needs of the local communities, thereby limiting any impact on occupancy and earnings&rdquo . &ldquo This demand for space is demonstrated by historically high occupancy rates across the REITs' portfolios - at over 99% for Scentre and Mirvac since 2014 - which reflect their strategic locations&rdquo , the agency added. &ldquo For instance, over 65% of the Australian population lives within 30 minutes of one of Scentre' s Westfield malls, while Mirvac' s smaller properties are typically located in east coast suburban areas with desirable demographics&rdquo , it said. Besides, these REITs have done well to transform their properties into lifestyle destinations, the agency noted. &ldquo Nevertheless, even if the REITs were unable to maintain their high levels of occupancy and took no mitigating actions, Scentre would need to see occupancy in each of its malls fall to around 85% over the next few years before leverage hits the level at which Fitch would consider negative rating action&rdquo , it added. &ldquo For Mirvac, its retail portfolio occupancy would need to fall even further - to around 60% - before it reaches its negative rating sensitivity because the trust' s other businesses in industrial and office space and property development would offset the retail downturn&rdquo . &ldquo This provides both REITs with a substantial buffer at their current rating levels to continue to navigate the changing landscape&rdquo , said the agency. Fitch believes that changing consumer preferences will drive the REITs to a mix of stores, operators and experiences that will drive consumer footfall into their properties. --------------------------------------------------------- It is highly probable that the Westfield mentioned in the above (bolded in black) would be this mall for which SPH REIT has a 50% ownership in.
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chengwh1
Elite |
29-Nov-2019 17:10
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But closed down today at $1.06,... what happened ? | ||||
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katak88
Master |
29-Nov-2019 09:34
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SPH Reit cites good prospects for Aussie mall investment at AGMPUBLISHED    NOV 27, 2019, 9:11 PM SGT
 
SINGAPORE - Unitholders questioned SPH Reit' s manager over a proposed Australian acquisition at the annual general meeting (AGM) on Wednesday (Nov 27). Unitholders were particularly keen to find out its strategy for the freehold Westfield Marion Shopping Centre in Adelaide and the rationale behind a private placement to partially fund the deal. The Reit announced earlier this month that is planning to acquire a 50 per cent stake in Westfield Marion for A$670 million (S$620.2 million), with the other 50 per cent held by Scentre Group. The deal is expected to be concluded by the end of the year. Westfield Marion is the largest regional shopping centre in South Australia with approximately 1.5 million sq ft of gross lettable area on a land parcel of 2.5 million sq ft. It is about 10km south west of Adelaide' s central business district. Dr Leong Horn Kee, chairman of the Reit manager, said the trust is taking a longer-term view of the asset.  " We do have plans on how to further redevelop this area, (in the) medium to longer term." He pointed to the size of the land and the potential for future enhancement. The acquisition is being financed through a combination of proceeds from the $300 million of perpetual securities issued on Aug 30, debt as well as a private placement. The Reit' s gearing will stand at 29.7 per cent after the acquisition. One unitholder queried the choice for a private placement. SPH Reit units shed three cents to close at $1.08 last Friday after the Reit announced it had raised $164.5 million through the private placement. The issue price for the placement was $1.05 per new unit. The placement allows the Reit to bring in more shareholders and improve liquidity, given the units are not very well traded, Dr Leong noted, adding that the placement was also priced such that the yield accretion was maintained. Singapore Press Holdings (SPH) holds a stake of around 70 per cent in SPH Reit. Other assets in SPH Reit' s portfolio include a 99-year leasehold interest in Paragon, a 99-year leasehold interest in The Clementi Mall, a 99-year leasehold interest in The Rail Mall and an 85 per cent stake in Figtree Grove Shopping Centre in New South Wales, Australia. During the hour-long session that was attended by around 175 people, one unitholder questioned the concentrated risk of having Paragon account for so much of the Reit' s portfolio and asked if it would consider any mergers and acquisitions (M& A). At $2.75 billion, Paragon accounts for around three-quarters of the $3.6 billion valuation of the portfolio. Dr Leong said: " Paragon is one of our mainstays. We put a lot of focus on Paragon, making sure it is well-managed and well-maintained. We continue to look at asset enhancement initiatives there." He also highlighted that SPH Reit has been diversifying by acquiring The Rail Mall, Figtree Grove Shopping Centre and now, Westfield Marion. One unitholder broached the possibility of The Seletar Mall being injected into the Reit, a question that has come up before. The Seletar Mall is owned by SPH. The timing and pricing of a sale of the mall would have to suit SPH' s own corporate objectives, with Dr Leong noting: " When the time comes that (SPH) are prepared to sell, we are prepared to look at it. We have to assess it based on our constitution." All three resolutions, including one authorising the manager to issue units and to make or grant convertible instruments, were passed. SPH Reit units closed up 0.9 per cent at $1.09 on Wednesday. https://www.straitstimes.com/business/sph-reit-sees-potential-in-aussie-acquisition   |
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uiop1223
Supreme |
23-Nov-2019 18:21
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*would not think its consider a plunge | ||||
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uiop1223
Supreme |
23-Nov-2019 17:45
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I think its normal to drop with issuance due to dilution? Anyway, 3.6% drop is nothing.... i would consider this a plunge
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chengwh1
Elite |
23-Nov-2019 15:17
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Why shld this acquisition be bad ? The characteristics of the acquisition looks good, and the acquisition is said to be dpu- and nav- accretive.
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Jamesbond007
Veteran |
23-Nov-2019 10:02
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Appears at least in the short term that it would be better off for unit holders that the acquisition had not taken place. The plunge in the stock price is telling. | ||||
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chengwh1
Elite |
22-Nov-2019 17:50
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But upon uplifting of halt, the unit price plunged from 1.11 last close to 1.07,.... this shows what investors think of this acquisition. If investors are confident, the price would not plunge. I tried to find the proforma financial statements but couldn' t see any. Perhaps I missed them somewhere,... |
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katak88
Master |
22-Nov-2019 17:02
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SPH Reit' s private placement raises S$164.5mFRI, NOV 22, 2019 - 8:32 AM  SPH Reit has raised S$164.5 million from a  private placement of 156.6 million new units  to partially fund its proposed acquisition of a 50 per cent stake in a shopping centre in South Australia. The issue price was fixed at S$1.05 per new unit &ndash which falls in the middle of the indicative range of between S$1.031 and S$1.075 per unit announced by the manager on Thursday. The finalised issue price represents an approximate 5.5 per cent to the volume-weighted average price (VWAP) of S$1.111 of all trades done on Nov 20 - the market day before the placement agreement was signed. It also represents a discount of around 4.3 per cent to the adjusted VWAP - which subtracts the estimated cumulative distribution of around 1.39 Singapore cents, the midpoint of an estimated range of between 1.37 cents and 1.41 cents per unit. SPH Reit, whose sponsor is Singapore Press Holdings which publishes  The Business Times, said the placement was " multiple times covered" and drew strong participation from new and existing institutional investors.   Around S$162.4 million or 98.7 per cent of gross proceeds will be used to partially fund the proposed acquisition of Westfield Marion Shopping Centre &ndash which SPH Reit is planning to buy a 50 per cent stake for A$670 million (S$627.9 million). Some S$2.1 million or 1.3 per cent of the gross proceeds will be used to pay estimated fees and expenses in connection with the proposed acquisition and the private placement. Any remaining proceeds will be used for general corporate and/or working capital purposes. The new units are expected to be listed on Dec 2, 9am, upon in-principle approval from the Singapore Exchange. The manager has requested to lift the trading halt. SPH Reit units closed flat at S$1.11 on Wednesday.   |
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katak88
Master |
21-Nov-2019 11:28
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SPH Reit launches private placement to raise at least S$161.5mTHU, NOV 21, 2019 - 9:18 AM  SPH Reit has launched a private placement to raise at least S$161.5 million to partially fund its proposed A$670 million (S$627.9 million) acquisition of a 50 per cent stake in a shopping centre in South Australia. The private placement will see the listing of 156.6 million new units at an issue price of between S$1.031 and S$1.075 per unit, the manager said on Thursday. The issue price represents a discount of between 3.2 and 7.2 per cent to the volume-weighted average price (VWAP) of S$1.1110 per unit of all trades done on Nov 20 &ndash the market day before the placement agreement was signed. It also represents a discount of between 2.0 and 6.0 per cent to the adjusted VWAP &ndash which subtracts the estimated cumulative distribution of around 1.39 Singapore cents, the midpoint of an estimated range of between 1.37 cents and 1.41 cents per unit. Out of the S$161.5 million gross proceeds, around S$159.5 million or 98.7 per cent will partially fund the acquisition. Some S$2.0 million or 1.3 per cent will be used to pay estimated fees and expenses in connection with the private placement and proposed acquisition.   Any balance of gross proceeds will be used for general corporate or working capital purposes. The new units are expected to be listed on Dec 2 upon receiving in-principle approval from the Singapore Exchange. SPH Reit  announced on Nov 7  that it was planning to buy a 50 per cent stake in Westfield Marion Shopping Centre, a 1.5 million square foot mall in New South Wales. Freehold Westfield Marion, billed as " the only super-regional shopping centre" in the state of South Australia, has three storeys of retail space and five office floors, with 5,270 parking lots. The manager said  at the time that it planned to pay for the deal with a mix of proceeds from the August 2019 issuance of S$300 million of perpetual securities, as well as debt and/or equity fundraising. A trading halt in the units was called on Thursday morning before the market opened SPH Reit units closed flat at S$1.11 on Wednesday. SPH Reit' s sponsor is Singapore Press Holdings, which publishes  The Business Times.  https://www.businesstimes.com.sg/companies-markets/sph-reit-launches-private-placement-to-raise-at-least-s1615m   |
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CheeryVGoh
Supreme |
13-Nov-2019 21:08
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MAPLETREE NAC
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chengwh1 ( Date: 09-Nov-2019 19:22) Posted:
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I have considered Aims Amp REIT previously. Then I saw Slide 8 of its 2QFY2020 Financial Results, Presentation Slides. The dpu has been on a downtrend since FY2016, when it peaked at 11.35c. Link is here :-
https://links.sgx.com/FileOpen/AA_REIT_2Q_FY2020_Financial_Results_Presentation.ashx?App=Announcement& FileID=584357
Will this dpu payout downtrend reverse ? How long will it take before all of its assets can be enhanced into higher-yielding assets ?
I think it' s the SG warehouses which are pulling-down the npi, and not the Australian premises. ...something we are still experiencing with Cache Logistics Trust and Sabana REIT today.
I have always been looking at Ascendas REIT, being a big REIT. But two things made me pullback :-
1) The dpu payout is very onconsistent, perhaps due to its many corporate actions. Slide 41 of the Presentation Slides of the latest quarterly results show this :-
https://links.sgx.com/FileOpen/3%20-%20Results%20Presentation%202Q%20FY2019.ashx?App=Announcement& FileID=583920
2) Yield is too low compared to other REITs, at mid-5% levels...
spore1 ( Date: 09-Nov-2019 14:27) Posted:
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chengwh1 ( Date: 09-Nov-2019 14:05) Posted:
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