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JiutianC
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laksaman57
Supreme |
19-Sep-2017 11:30
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Must be quite bad then had to make public. | ||||
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Morello
Veteran |
19-Sep-2017 09:17
Yells: "In it for the long haul" |
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SOILBUILD REIT CALLED UPON INSURANCE GUARANTEE FROM NK INGREDIENTS PTE. LTD. SB REIT Management Pte. Ltd., as manager of Soilbuild Business Space REIT (Soilbuild REIT, and the manager of Soilbuild REIT, the Manager), wishes to announce that DBS Trustee Limited (in its capacity as trustee of Soilbuild REIT) (the Trustee) has on 12 September 2017 issued a letter of demand to NK Ingredients Pte. Ltd. (formerly known as NK Chemicals Pte Ltd) (Tenant) for arrears amounting to S$3,421,120.33. The Trustee holds an insurance guarantee issued in its favour amounting to S$5,110,677. The Trustee called upon the insurance guarantee today in connection with non-observance of the Lease Agreement by the Tenant. Pursuant to clause 6.1.1 of the lease agreement dated 15 February 2013 between the Trustee and the Tenant (Lease Agreement), the Tenant is in default under the Lease Agreement for failure to pay rent and any other sum payable under the Lease Agreement. In accordance with clause 3.6.3 of the Lease Agreement, the Trustee is entitled to apply the whole or part of the security deposit amount in or towards making good any loss or damage sustained by the Trustee as a result of that default and any expense incurred by the Trustee in making good the loss and damage, in any manner as may be prescribed by the Trustee. Clause 3.6.4 of the Lease Agreement further states that the Tenant must pay to the Trustee an amount equal to the amount applied by the Trustee under clause 3.6.3 as replacement of the part or whole of the relevant security deposit amount applied, within seven days of demand. The balance of the insurance guarantee of S$1,689,556.67 is equivalent to approximately four months of rent. The Manager does not expect there to be a material immediate financial impact on Soilbuild REIT&rsquo s distribution per unit (DPU) for the current financial year. Based on the unaudited half year ended 30 June 2017 financial results of Soilbuild REIT, the DPU of Soilbuild REIT was 2.955 cents. Purely for illustrative purposes, assuming Soilbuild REIT had terminated the lease with the Tenant as at 1 January 2017, the DPU for the half year ended 30 June 2017 would be approximately 2.640 cents. In the event there are any material developments, the Manager will release further announcements as necessary on this matter. By Order of the Board SB REIT Management Pte. Ltd. (UEN/Company Registration No. 201224644N) As Manager of Soilbuild Business Space REIT |
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Morello
Veteran |
03-Aug-2017 18:30
Yells: "In it for the long haul" |
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sold this sometime back and moved on to viva...much better there. decision is yours alone
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Raypeh
Member |
03-Aug-2017 16:42
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So are we going to continue holding this Reits or start looking for a better reits? | ||||
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laksaman57
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21-Jul-2017 09:52
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Once a reit take the same path, it's a slippery slope. | ||||
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laksaman57
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21-Jul-2017 09:45
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Not good for investor, in issuing rights for fund to acquire properties that reduces dpu. Sabana been doing that, see where they are now.
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investshare
Supreme |
14-Jul-2017 10:24
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I see, thanks.
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cobrajr
Veteran |
14-Jul-2017 10:01
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Oh noo not again
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laksaman57
Supreme |
14-Jul-2017 09:30
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Reminded me of progressively dpu-falling Sabana reit 😥 | ||||
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laksaman57
Supreme |
14-Jul-2017 09:12
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Reit dpu depend on rental and not seasonal and shouldn't compare qtr-on-qtr. Dropping from last qtr is a bad sign indeed. | ||||
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TMW1986
Master |
14-Jul-2017 09:04
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They compare to last year. They issue rights so base larger. Dividends drop.
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investshare
Supreme |
14-Jul-2017 07:33
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Why income improve but dividend drop?
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TMW1986
Master |
14-Jul-2017 07:18
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Start to zao first. Situation not improving.
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hp3000
Veteran |
13-Jul-2017 21:43
Yells: "Huart Ah !! Count $$$$$ liao" |
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Dividen start to drop liao. SOILBUILD Business Space Reit (Soilbuild Reit) on Thursday reported an 8.1 per cent year-on-year increase in net property income for the second quarter to S$18.7 million.For the three months ended June 30, 2017, the Reit recorded a distribution per unit (DPU) of 1.466 Singapore cents, down 6.3 per cent from 1.565 Singapore cents a year ago. Distributable income rose 4.3 per cent to S$15.4 million.SB Reit Management, the manager of Soilbuild Reit, said that gross revenue and net property income rose by 10.1 per cent and 8.1 per cent respectively due to higher revenue from Bukit Batok Connection, West Park BizCentral, Solaris, Tuas Connection and Tellus Marine. It was partially offset by reduction in revenue from 72 Loyang Way.Soilbuild Reit' s gross revenue stood at S$21.6 million for Q2 2017 while its half-year gross revenue rose 9.6 per cent to S$43.5 million.Net property income for H1 2017 was S$37.9 million, a 9.9 per cent increase from the year before. Distributable income rose 5.5 per cent to S$30.9 million. DPU for H1 was 2.955 Singapore cents, down from 3.122 cents a year ago.SB Reit Management said occupancy rate improved to 92.6 per cent in Q2, contributed by full occupancy at Eightrium and 22.8 per cent occupancy at 72 Loyang Way. The portfolio rental reversions were relatively flat, while forward renewals registered a negative rental reversion of 9.8 per cent, primarily due to " higher expiring rents secured two to three years ago when the rental index was at its peak" . Soilbuild Reit units closed at S$0.74 on Thursday, up half a cent or 0.68 per cent. |
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lemontree
Member |
10-Jul-2017 15:59
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i bought @ 0.73 today | ||||
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yeey3e
Member |
13-Jun-2017 20:40
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price to 0.71, good news coming soon? | ||||
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ShowMeMoneyp
Member |
03-Jun-2017 19:56
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Thanks sweetbear for the info. Wahlau the JTC very inflexible. O& G broke already still want to rent to them. | ||||
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Raypeh
Member |
02-Jun-2017 17:02
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I also sell off my share at 0.695. Market unpredictable nowadays. | ||||
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sweetbear90
Member |
01-Jun-2017 20:19
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read this lor. https://heartlandboy.com/2017-singapore-reits-symposium-review/ looks like gone case to me.
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TMW1986
Master |
01-Jun-2017 17:30
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I sold my holding at 68 cents. Good for those vested. But just trade carefully as many people saying crisis will start second half of 2017. Not sure true or not but just wait.
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