Mapletree PanAsia C    Last:1.27   -

MCT

like that sponsor only suffers for china related asset but will be able to recover when sentiment towards china improves.
also it will save their credibility as the document describing the goodness of the merger did not deliver at all.
no credibility cannot do business. and this indirectly hit temasek as temasek is ultimate owner.

 

a quick way for this reit to recover above $2 is for sponsor to used the same number of reits that they issue +some cash to buy back the china and hk asset. ie reverse the merger of north asia trust out.
the reit price sure recover very fast past $2. 

part of reason for low price now is market no want any thing related to china. especially china real estate. worse is it is commercial real estate that no one love.

 

I think the fact the MPACT mall in HK is on the East Rail line is turning out to be a big negative going forward vs a big positive pre-COVID given changing shopping behaviours in HK and the GBA. Increasingly now more HK visitors into China rather than vice versa given the better service and cheap prices, and most use the East Rail line given the convenience.

 

 

All the Brokerage Houses Model Portfolio, like DBS, UOBKH etc.

Below is today note by DBS
" Sell" MapletreePanAsia today at 136
Helo helo, today opening dropped from last closing. 
THERE ARE NO 136 TRADES TODAY !!!

Similarly, all the Buys same pattern
The Model Portfolio always able to artificially Buy Low and Sell High (and there could be no such available trades for the day)
So those following these Model Portfolio, need to discount their tabulated annualised returns ok
- - - - -

Singapore Equity Picks

We lower our exposure to REITs as rate cut expectations adjust lower

Mapletree Pan Asia Commercial Trust: Remove from Dividend at $1.36

The total return (amalgamated) for the shares removed is -2.93% 

 

In last q of last year it hit 1.57 when market firmly believe Fed will soon cut rate in 2024. However, Feb sounded cautionary notes in Jan 2024 and MPACT quickly nose dived and visited low of 1.2 couple of weeks ago. Now it is a fresh round of rate cuts expectation and it is slowly taking off again. Have not added throughout this cycle but have added some other reits. Just wait to see whether rate cuts really materalise this time or not. 

HVRRVH      ( Date: 21-Mar-2024 13:13) Posted: No chance for now since Fed reiterated that there will be 3 cuts this year. Won?t be chasing as things may change. HVRRVH      ( Date: 19-Mar-2024 22:54) Posted: queuing at 1.19 now.

 

Yes, it is among the 10 reits with gearing above 40%.
Not much head room for loan.

mav1ryan      ( Date: 20-Mar-2024 10:07) Posted: I believe the real threat is loan ratio is pretty high for this counter although it is still way below legislation requirement, because the main factors besides interest rate, the continuing weakened HK$ and RMB is not helping. Let' s hope the Jap Yen will grow stronger with the change in interest policy and help out the rental yield after converting to SGD.

 

No chance for now since Fed reiterated that there will be 3 cuts this year. Won?t be chasing as things may change.

HVRRVH      ( Date: 19-Mar-2024 22:54) Posted: queuing at 1.19 now.  HVRRVH      ( Date: 06-Mar-2024 13:01) Posted: It may test previous low at 1.27 so no plan to buy now. Patience is key to accumulate at good price.

 

After tested the lowest as at 01/10/2015 at $1.20 yesterday.  Glad to see that it rebrounces back to $1.28 today. Congrats to all short sellers !

 

i think the drop in prices is more due to short harvesting cash out fo some counters.
this one in feb 23 the short postition $21428337.  in mar 8 increased to  $51229715.
this is not just happening to this counter. like city dev. mapletree logistic, etc the total short cash harvest in feb 23 $2.477b  by mar 8 become $2.747b  so one can see closely related to shorts actions.
hope sgx can have more rules on shorts.  like who has loan out stock after 1000000 shares. who has shorts position of more then $100k value in a counter. no sell down of shorts. at least in this way .
it is fairer. long will then know who is loan out shares while still telling the world how many shares they own while not really true. who shorted. so we know who is trying to force down a share price by unfair actions like putting huge sell q, scoop and dump.
who knows tm may be the loan out party and ah rock might be shorting. then at least long can run earlier and buy back at lower price.

 

I believe the real threat is loan ratio is pretty high for this counter although it is still way below legislation requirement, because the main factors besides interest rate, the continuing weakened HK$ and RMB is not helping. Let' s hope the Jap Yen will grow stronger with the change in interest policy and help out the rental yield after converting to SGD.

 

 

interest rate, pub etc are business operating cost and will eventually pass on to tenants s higher rental.
when the cost factors come down. the rent will not come down . that is what inflation does to real estate .
dyodd
 

 

Already placed q at 1.20.
Sufferihg from high interest rates for 3 years.
I dont think this shopping toad will close down lah.

 

queuing at 1.19 now. 

HVRRVH      ( Date: 06-Mar-2024 13:01) Posted: It may test previous low at 1.27 so no plan to buy now. Patience is key to accumulate at good price.  HVRRVH      ( Date: 05-Mar-2024 14:40) Posted: Shall continue to accumulate on price weakness. The potential outweighs the risk. Besides Southern Waterfront project that already announced, today another piece of news on the development of Gillman area to residential estate. This will add on to MPACT?s catchment area with their presence at ARC, MBC and Vivo. May the price stay at this range for some time as need to get ready fund in a month or 2.

 

What happen to this counter today? Closing down ?

 

Massive short sellers playing this counter.  Always see morning open high or move higher but close lower.  Just saw flashing at price 1.28 

 

It may test previous low at 1.27 so no plan to buy now. Patience is key to accumulate at good price. 

HVRRVH      ( Date: 05-Mar-2024 14:40) Posted: Shall continue to accumulate on price weakness. The potential outweighs the risk. Besides Southern Waterfront project that already announced, today another piece of news on the development of Gillman area to residential estate. This will add on to MPACT?s catchment area with their presence at ARC, MBC and Vivo. May the price stay at this range for some time as need to get ready fund in a month or 2.

 

Shall continue to accumulate on price weakness. The potential outweighs the risk. Besides Southern Waterfront project that already announced, today another piece of news on the development of Gillman area to residential estate. This will add on to MPACT?s catchment area with their presence at ARC, MBC and Vivo. May the price stay at this range for some time as need to get ready fund in a month or 2.

 

I was a MNACT shareholder - was already up on my in-price, feeling quite happy with life. I for one did not need a bail out. But MCT decided to come calling anyway with a massive bid so of course I' m going to sell! 

eddyeddy      ( Date: 29-Jan-2024 23:40) Posted: It was a bail out la , so obvious ! Alignment      ( Date: 29-Jan-2024 22:50) Posted: There' s more long term growth potential in the MNACT portfoilo than in the MCT one so I would argue the merger from a strategic perspective made sense. Also benefits from becoming larger (greater indexation, lower cost of capital etc). The issue was not with the merger itself, but in the exchange ratio - too generous to MNACT shareholders.

 

Mapletree Pan Asia Commercial Trust posts 9.1% drop in Q3 DPU to S$0.022

MAPLETREE Pan Asia Commercial Trust&rsquo s : N2IU -1.42% (MPACT) distribution per unit (DPU) fell by 9.1 per cent to 2.20 Singapore cents for its third quarter ended Dec 31, 2023.

 

Gross revenue was up 0.8 per cent to S$241.6 million for the quarter, from S$239.8 million previously, said the manager in a bourse filing on Monday (Jan 29).

 

Net property income grew 1.7 per cent to S$182.4 million, from S$179.4 million in the corresponding year-earlier period.

 

MPACT&rsquo s manager said the growth was primarily driven by Singapore&rsquo s &ldquo robust performance&rdquo , which delivered positive contribution despite higher utility expenses.

 

While Hong Kong and Japan delivered steady earnings in local currency terms, their contributions were dampened by a stronger Singapore dollar.

 

Distributable income declined 9.3 per cent year on year to S$115.3 million, from S$127 million previously.

 

The distribution will be paid out on Mar 14 after books closure on Feb 6.

 

Giving an outlook on the Singapore market, the manager said that the retail sector could face challenges, including persisting inflationary pressures, manpower shortages, and high operating costs.

 

The continued strength of the Singapore dollar could also encourage outbound travel, impacting local retail sales.

 

As for Singapore office rentals, the manager noted that approximately 3.9 million square feet of new office space is expected from 2024 to 2025, averaging 2 million sq ft per year, which is higher than the past five-year annual average of 1.1 million sq ft.

 

But ongoing global economic uncertainties are expected to dampen office demand and slow rental growth in 2024. &ldquo The build up of shadow and secondary spaces, as well as new supply, could add further pressure.&rdquo

 

Overall, macroeconomic challenges including persistent geopolitical conflicts, high inflation rates, and protracted period of high interest rates remain. Amid these broad challenges, MPACT&rsquo s strategy focuses on &ldquo sustaining healthy occupancy levels and ensuring steady rental revenue, while managing cost efficiency&rdquo , said its manager.

 

In the long run, the Reit&rsquo s strength is underpinned by its core assets &ndash the Mapletree Business City and VivoCity &ndash combined with its manager&rsquo s operational expertise, it said. &ldquo These position MPACT to adeptly navigate current headwinds and seize emerging opportunities.&rdquo

 

It was a bail out la , so obvious !

Alignment      ( Date: 29-Jan-2024 22:50) Posted: There' s more long term growth potential in the MNACT portfoilo than in the MCT one so I would argue the merger from a strategic perspective made sense. Also benefits from becoming larger (greater indexation, lower cost of capital etc). The issue was not with the merger itself, but in the exchange ratio - too generous to MNACT shareholders.