Prime US ReitUSD    Last:0.16   -

Prime US Reit SGX debut 19 JUL 2019

Thanks, is there a way we can check, or would the Share Agent be chasing us for this?

delsolvtec      ( Date: 22-Feb-2024 08:41) Posted: yes, you have to send back the US tax form to indicate that you are exempt from the 30% witholding tax on US dividends for this reit otherwise your dividend will be taxed 30%. Unitholders who do not submit required U.S. tax forms completely and accurately will be subject to an effective withholding tax of 31.97% on the tax-exempt income distribution. The U.S. tax forms are required to be reviewed and validated by the appointed processing agent  Otherwise, nothing much else to do.  Enjoy ! a4andrew      ( Date: 22-Feb-2024 08:16) Posted: Can I ask is a noobie question? Do we have to do anything to receive the PRIME dividend and the bonus share? I have some shares in CDP and also in MOOMOO.

 

Thanks for the quick reply. So I assumed they will soon send me the relevant documents and i would need to send back the forms to close the loop?

 

Volatility is great.  We can prob trade and earn the ' ' missing dividends' '   by just sensible trading. which is what i been doing. 

Made almost 4 ct , when i sold at 15ct before the drop ,  now bought fully back at 11ct.  2.5million shares.

Long 4 million. shares

marketuncle      ( Date: 22-Feb-2024 08:09) Posted: I' ll just put KORE and PRIME holdings into cold storage and write down their value to zero. But I' m still following their development closely as this is a good learning opportunity to understand the dynamics of biz in distress. Quite a significant debt for PRIME is secured with a few ppties, though almost full occupied, nontheless suffered massive devaluation. So maybe that' s how the banks are still willing to " negotiate" with PRIME. Anyway, its only a few more mths away before the first huge tranche is due and we' ll ikely see more price volatility till July.

 

yes, you have to send back the US tax form to indicate that you are exempt from the 30% witholding tax on US dividends for this reit otherwise your dividend will be taxed 30%.

Unitholders who do not submit required U.S. tax forms completely and accurately will be subject to an effective withholding tax of 31.97% on the tax-exempt income distribution. The U.S. tax forms are required to be reviewed and validated by the appointed processing agent 

Otherwise, nothing much else to do.  Enjoy !

a4andrew      ( Date: 22-Feb-2024 08:16) Posted: Can I ask is a noobie question? Do we have to do anything to receive the PRIME dividend and the bonus share? I have some shares in CDP and also in MOOMOO.

 

Can I ask is a noobie question? Do we have to do anything to receive the PRIME dividend and the bonus share? I have some shares in CDP and also in MOOMOO. 

 

I' ll just put KORE and PRIME holdings into cold storage and write down their value to zero. But I' m still following their development closely as this is a good learning opportunity to understand the dynamics of biz in distress. Quite a significant debt for PRIME is secured with a few ppties, though almost full occupied, nontheless suffered massive devaluation. So maybe that' s how the banks are still willing to " negotiate" with PRIME. Anyway, its only a few more mths away before the first huge tranche is due and we' ll ikely see more price volatility till July.

 

Theres always risk in this environment. If you cant stomach it , sell today on open and be gone. Interest rates are whats affecting most of these solid companies. If you actually read thru , their leasing activity has almost soubled, their occupancy has gone Up not down. They are in better and better shape. Their lenders are not some small bank or regional bank. Their lenders are BOA. So with this move, and the obvious deleveraging of 100m from debt by next year, this will be at a leverage of close to 40% or less. But pls sell , on market open.

marketuncle      ( Date: 22-Feb-2024 06:49) Posted: Token distribution niah, still minimize impact to balance sheet to preserve cash. No verdict on refinancing debt due in few months time though. But give bonus shares to all. That one can't treat as distribution ) Anyway, can see mgt trying hard to please everyone but main risk now for prime is still the debt due in July.

 

Token distribution niah, still minimize impact to balance sheet to preserve cash. No verdict on refinancing debt due in few months time though. But give bonus shares to all. That one can't treat as distribution ) Anyway, can see mgt trying hard to please everyone but main risk now for prime is still the debt due in July.

 

Wow u r not bright. Pls go Short Prime tomorrow. Hahahaha

checkmate      ( Date: 22-Feb-2024 00:28) Posted: Another trivia. They have USD4.7m debt headroom. Manager' s base fee for 2H2023 is USD3.2m. And if my understanding of the report is correct, 0.25c distribution is going to cost another USD3m. So their plan has already breached 50% covenants, just that they have an additional quarter to report that unless they can magically " deleverage" .

 

The REIT generates about US$12 million in cash per quarter (after factoring CAPEX). If they pay out the fees and dividends, its still a nett 6 mil reduction in cash. Both KORE and PRIME are very cash generative. So the large reduction in dividend will deleverage them at about 3% per year

 

Another trivia. They have USD4.7m debt headroom.
Manager' s base fee for 2H2023 is USD3.2m.
And if my understanding of the report is correct, 0.25c distribution is going to cost another USD3m.
So their plan has already breached 50% covenants, just that they have an additional quarter to report that unless they can magically " deleverage" .

 

 

Unless these bonus shares come up from their treasury, I can call this rights issue at zero price with 100% take-up, no difference.
As with rights issue, the share value will be diluted after XR.
Regardless, let' s see if market will be hoodwinked by this sleight of hand.

delsolvtec      ( Date: 22-Feb-2024 00:02) Posted: It ensure Unit holders who are here Long , will get more shares vs the short term holders. After they delever the balance sheet, div will resume and Long shareholders get it ALL back in the coming divs. So there, explained to you. checkmate      ( Date: 21-Feb-2024 23:57) Posted: I think it's cute that the managers call it a "bonus issue" and to "reward unit holders for their support". This is just like Zimbabwe removing zeroes from their currency and claiming their currency is now stronger.

 

It ensure Unit holders who are here Long , will get more shares vs the short term holders. After they delever the balance sheet, div will resume and Long shareholders get it ALL back in the coming divs. So there, explained to you.

checkmate      ( Date: 21-Feb-2024 23:57) Posted: I think it's cute that the managers call it a "bonus issue" and to "reward unit holders for their support". This is just like Zimbabwe removing zeroes from their currency and claiming their currency is now stronger.

 

I think it's cute that the managers call it a "bonus issue" and to "reward unit holders for their support". This is just like Zimbabwe removing zeroes from their currency and claiming their currency is now stronger.

 

And Bonus Shares 1 unit for every 10 existing units. 

graham73      ( Date: 21-Feb-2024 23:35) Posted: Market was expecting no dividend, but they are giving 2.5 US cents. So this is above expectations

 

Dividend is 0.25ct not 2.5ct. But shareholders also get 1 share for every 10units held Considering the need to use capital to pay down debt, this outcome is a win-win. For everyone. Tmr Prime jumps past Kore as expected. Long !

graham73      ( Date: 21-Feb-2024 23:35) Posted: Market was expecting no dividend, but they are giving 2.5 US cents. So this is above expectations

 

Market was expecting no dividend, but they are giving 2.5 US cents. So this is above expectations

 

I think keppeloak management did a better job in their mitigating measures. What's the point of giving out 1/10 dividends when it is agonisingly close to 50%. It seems like pushing the can down the road. Red flag.

 

Leverage whoopingly close to 50% after re-evaluation. Lets See how market reacts to that.

 

After all prime still the best.