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Based on the results of the recent EFR done (released yesterday), there are 3.43mil units to be shared out among 31.36mil Excess applications. Hence,... with everything equal, we should get 10% of whatever Excesses that we applied for if we are not related to the REIT or the REIT Mgr in any way...
Never a dull monet in investing for me, bros,... UMS released results yesterday and I' m talking over at the UMS thread, I just replied to First REIT thread and now,.. Pref Offering with FCT. FCT has just launched the below this morning. This ann' t is available in SGXNet.
https://links.sgx.com/FileOpen/FCT_Announcement_EFR_Launch.ashx?App=Announcement& FileID=559889
Below is my emphasis of the above article :-
a) a private placement (the " Private Placement" ) of 135,659,800 New Units, at an issue price of between S$2.30 and S$2.382 per New Unit (the " Private Placement Issue Price Range" ) to raise gross proceeds of no less than approximately S$312.0 million, subject to an upsize option to raise additional gross proceeds such that the aggregate gross proceeds would be approximately S$369.6 million and
(b) a pro rata and non-renounceable preferential offering (the " Preferential Offering" ) of up to 48,340,162 New Units (the " Preferential Offering New Units" ) at an issue price of between S$2.270 and S$2.352 per New Unit (the " Preferential Offering Issue Price Range" ) to raise gross proceeds of no less than approximately S$65.4 million.
The returns of this EFR can be said to be good, being dpu-accretive,... no doubt about that. No doubt abt the mgmt too,....
BUT my current holding price is far below the above offering prices, being at ONLY $1.95 per unit. If I do take-up this Pref Offering, my average price will rise, hence reducing the ROI of my funds. What would you guys do being in my position ?
https://links.sgx.com/FileOpen/FCT_Announcement_EFR_Launch.ashx?App=Announcement& FileID=559889
Below is my emphasis of the above article :-
a) a private placement (the " Private Placement" ) of 135,659,800 New Units, at an issue price of between S$2.30 and S$2.382 per New Unit (the " Private Placement Issue Price Range" ) to raise gross proceeds of no less than approximately S$312.0 million, subject to an upsize option to raise additional gross proceeds such that the aggregate gross proceeds would be approximately S$369.6 million and
(b) a pro rata and non-renounceable preferential offering (the " Preferential Offering" ) of up to 48,340,162 New Units (the " Preferential Offering New Units" ) at an issue price of between S$2.270 and S$2.352 per New Unit (the " Preferential Offering Issue Price Range" ) to raise gross proceeds of no less than approximately S$65.4 million.
The returns of this EFR can be said to be good, being dpu-accretive,... no doubt about that. No doubt abt the mgmt too,....
BUT my current holding price is far below the above offering prices, being at ONLY $1.95 per unit. If I do take-up this Pref Offering, my average price will rise, hence reducing the ROI of my funds. What would you guys do being in my position ?
Breakout with high volume! Yes!
temp123 ( Date: 09-Oct-2017 09:44) Posted:
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Ascending Triangle.
Parkson retail accounting for 9.7% of their monthly rental isn't doing too well
chengwh1 ( Date: 31-Aug-2017 15:46) Posted:
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Hektar REIT has prbs collecting rental from malls in KL/Selangor,... not really good-lar,...
laksaman57 ( Date: 30-Aug-2017 23:42) Posted:
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https://www.theedgesingapore.com/fct-subscribes-its-full-allocation-hektar-reit-rights-issue
FCpT has been holding-up well in terms of the dpu given out even though The Northpoint Mall has been ' disabled' since the big AEI activity started here in March 2016. We are nearing the end of the AEI,... finally,.. it has been said in the Quarterly Report this evening that this AEI should be completed by end-September this year,... yeah, finally, it' s done,......
Does anyone know what sort of incremental Distributable Income will be generated by Northpoint Mall starting with October this year ? It has been announced too that 90% of the reconfigured space in Northpoint Mall has been pre-committed. Rental to be collected should be higher since the mall is new' now, with the latest designs and features. Furthermore, with the opening of Downtown Line 3 - DTL3, on October 21st this year, Shoppers will find it more convenient to visit the mall now, and does not need to be cramped into the old green line only,...
Does anyone know what sort of incremental Distributable Income will be generated by Northpoint Mall starting with October this year ? It has been announced too that 90% of the reconfigured space in Northpoint Mall has been pre-committed. Rental to be collected should be higher since the mall is new' now, with the latest designs and features. Furthermore, with the opening of Downtown Line 3 - DTL3, on October 21st this year, Shoppers will find it more convenient to visit the mall now, and does not need to be cramped into the old green line only,...
Inching up again,....
Is it XD today ? FCT seemed to have retracted,...
Good report last Friday,...Revenue and NPI dropped compared to the pcp, BUT : Income Distributable to Unitholders and DPU ROSE !!!!!!!!!!!! Normally, for other REITs and Trusts, it' s the other way round,....
This shows FCT has great money management skills !!!
Stockfacts looks acceptable for this counter,... but it seems to be inching lower and lower !
http://www.sgx.com/wps/portal/sgxweb/home/company_disclosure/stockfacts?page=2& code=J69U& lang=en-us
FCT seems to be INCHING DOWN,... anybody knows why ??
Falling, falling,... due to coming US rate hike !!! Any other reasons ???
Frasers Centrepoint Trust (FCT SP): BUY
Market Cap: US$1,330m | Average Daily Value: US$1.79m
Last Traded Price: S$2.00 Price Target: S$2.29 (Upside 14.5%) (Prev S$2.29)
Analyst
Singapore Research Team [email protected]
Derek TAN +65 6682 3716 [email protected]
A Baby Step Closer to the Grand Integration
- FCT buys ground floor of Yishun 10 for c.S$39m, to be funded by debt
- Estimated acquisition yield of 4.8%
- A baby step for the future strategic integration of the retail scene in Yishun
- No material impact on TP or earnings
What&rsquo s New
FCT has today entered into a sale and purchase agreement with Bon-Food Pte Ltd and Goldvein Trading Pte Ltd to acquire the ground floor retail units at Yishun 10 Cinema Complex. Details of the acquisition are listed out below:
| Acquisition Asset | Ground Floor of Yishun 10 Cinema Complex (next to Northpoint Shopping Centre, see chart below) 51 Yishun Central 1, Singapore 768794 |
| Asset Composition | 10 strata-titled retail units |
| NLA | 10,413 sqft |
| Occupancy | 99.5% (30/09/2016) |
| Tenure | 99 years commencing 1 Apr 1990 |
| Independent Valuation | S$40.0m |
| Purchase Consideration | S$37.75m (c.5.6% discount from independent valuation) |
| Acquisition Fee | S$377,500 (i.e. 1% of Purchase Consideration) |
| Stamp Duty (estimated) | S$1,127,100 |
| Professional and other fees (estimated) | S$100,000 |
| Total cost of Acquisition | c.S$39.35m |
| Cost psf NLA | S$3,779 |
Source: Corporate
Our View
Estimated yield of 4.8%. According to the Straits Times&rsquo s article in May 2016 (link), we expect the NPI of the ground floor to be c.S$1.9m p.a., which translates to an acquisition yield c.4.8%.
Relative high cost psf NLA due to strata units. We note the cost at psf NLA is on the high end, this can be justified by 1) ground floor location which is usually higher than the average of a mall, and 2) small strata-titled units which generally command a low discount rate.
No material impact. We expect the acquisition to be fully funded by debt, and do not see any material effect on NAV, DPU, and gearing ratio. Over the short term, additional NPI contribution will ease the need for the Management to pay management fees in units, hence mitigating the diluting impact of the unit base. As such, we have decreased our assumption of fees payable in units in FY17 from 85% to 77.5%.
But a strategic move in baby steps. We believe this acquisition re-emphasises the long-term vision for FCT to integrate the retail scene in the Yishun area, particularly given the ongoing AEI at Northpoint Shopping Centre and the construction of Northpoint City. To integrate Yishun 10 with the Northpoint project, FCT will need to purchase the remaining three storeys of the complex that are currently owned by Golden Village. At this point in time, Golden Village has yet to indicate its interest to sell.
Maintain BUY, TP unchanged at S$2.29. FY17F DPU forecast stays at 11.77 Scts, forward yield at 5.1%.
same question here!!?/
grandjedi ( Date: 01-Jul-2016 16:23) Posted:
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Why the big 3% drop today??
My friend bought in March 2010 and still holding now. His average cost is $1.262. He said from his dividends earned till end of 2015, he recouped 36% of his capital outlay. Based on 9 cents DPU p.a. it translate to aprox 7% yield based on his cost. With a stable 7 cents DPU for next 9 years, he would have recouped his capital (undiscounted) and going forwards will all be gains.
Frasers Centrepoint Trust break support! Watch for the trend reversal.
http://mystocksinvesting.com/singapore-stocks/frasers-centrepoint-trust/frasers-centrepoint-trust-break-200d-sma-support/
Bullish Breakout!
http://mystocksinvesting.com/singapore-stocks/frasers-centrepoint-trust/frasers-centrepoint-trust-bullish-breakout/
marubozu1688 ( Date: 07-Sep-2014 14:19) Posted:
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