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With his 'outstanding' experience in Sabana, rest assure he will be recruited by a even bigger reit to manage
Kelvin shoud be nominated for OSCAR award . Looks nice guy but suck big time .
When share prices went UP, always kana query by xxx
when share price drop, no questioning from xxx and it is deemed to be normal
if the small investors still don't stay united to act....then be prepare to lose more money...
Your money u decide.
when share price drop, no questioning from xxx and it is deemed to be normal
if the small investors still don't stay united to act....then be prepare to lose more money...
Your money u decide.
Yes, i will just focus on voting them out
Whatever they claim they will do are just noise
In conclusion, stock investment is very risky. Never assume that mgmt is very smart. Everyone who wants to invest in stocks should buy with their eyes wide open. Dont blindly follow tips, news and analysts. Attend the AGMs and ask questions, seek answers, and put pressure on the mgmt. If the fundamentals of the company has deteriorated, divest/cut loss without any emotional attachment. We owe it to ourselves to safeguard our hard-earned money.
The move by the sponsor and the management to " review" the structure is a smart move by them :)
First it shows they are listening to small shareholders and next it will push share price up simply becos it is a deemed a good news by the market.
They dun have to do anything actually (they may or they may not, no one knows) but just a simple annoucement of their " intent" to review and look what happens. 1) Share price rises and 2) the impression that they are pro small shareholders. So one stone kill 2 birds ==> silent the " noisy" small shareholders based on the fact they are taking actions now so no need for EGM and also the fact that share price is rising will pacify some small shareholders and break the resolve of the small shareholders.
The small shareholders has less of a motivation or weakened power to request the removal of the management becos the management are currently " reviewing" so is work in progress which will encourage some small shareholders to adopt a wait and see stance.
Now is up to SGX or the authority to do their part to make sure they are really " reviewing" and force them to disclose the progress every say 2 weeks, assign some officials to monitor the reviewing.
If SGX and the authority dun even bother, then this " reviewing" may keep dragging while they wait for the " sea to calm down" and test the resolve of the small shareholders becos as time goes on.. some small shareholders may not have the stamina to fight..
Whether they are sincere in " reviewing" the structure for the sake of small shareholders.. only time will tell... but question now is do u trust them?
Take for example the case of addvalue tech annoucement of sales of their business to china for $200M which drag on for nearly 3 years and eventually dead, the sgx dun even bother to investigate whether the whole thing is real or not, in the end small shareholders who bought at 18 cents suffer till now since the annoucement close to 3 years back...
Maybe we should not belittle the power of small shareholders :) cheers.
mrwise ( Date: 03-Feb-2017 23:15) Posted:
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They excel in doing that !
Bloody hell, how can i work in that company ?
jackson5 ( Date: 03-Feb-2017 20:28) Posted:
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Many of u have belittle what the small shareholders can do...
Let's watch the show!
Let's watch the show!
Sell into strength . Once the next qtr dpu drop again share price may likely follow
We do not post on this forum to discuss our action instead we do it on the private Facebook. Unless to sign up or else you will not be able to access the Facebook.
HazardKoh ( Date: 03-Feb-2017 20:10) Posted:
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This time the manager will be removed and gone forever
Manager plays the game well !
HazardKoh ( Date: 03-Feb-2017 20:10) Posted:
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Seriously i think small shareholders are checkmated by the management this time.
First the annoucement the management and the sponsor will " review" the structure. So small shareholders cannot make noise anymore, no basis to make noise since they are taking " action" after " hearing your voice" .
2nd, share price rising these few days means the argument that share price is depressed due to the poor performance of the management is no longer a valid argument for the small shareholders.
So now the 2 small shareholder parties that requested the removal of the management is now stuck aka checkmated. Things will start to quiet down as you can tell from the decrease in postings today in sabana thread and after a few months, things will be forgotten and this " crisis" will be long forgotten too.
1st round management wins and perhaps they have already win the war...
Even though the valuers are appointed by manager, they are come from established organization ... and for Sabana, the valuations were conducted by DTZ Debenham Tie Leung (SEA) Pte Ltd (" DTZ" ) and Knight Frank Pte Ltd (" Knight Frank" ). I think we can trust these 2 valuers .. which are well know.
As the current Price is trading way below the NAV ... i hope that they can sell assets at valuation (or near valuation) instead ... and will most likely have positive impact on the current price.
jackson5 ( Date: 03-Feb-2017 15:34) Posted:
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If you compare with all the SG REIT (http://reitdata.com/) .... this one really stands out. Others are not as bad as this ....
jackson5 ( Date: 03-Feb-2017 15:34) Posted:
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DPU keep going down but management fees keep going up , what if manager choose to be paid 100% by cash , this will expose the true color of DPU .
nyde1d1th ( Date: 03-Feb-2017 15:52) Posted:
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said before this is a super lousy reit...dont understand at all why another want to invest in them when there are so many better reits out there...
Most property companies are trading at a big discount to NAV ! Valuers are appointted by manager , and manager love to have hi vaulation of NAV becasue they charge their fees on AUM .
nngeeh ( Date: 03-Feb-2017 11:25) Posted:
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The Sabana REIT' s NAV is made up of Singapore properties and even if the dpu keeps dropping, the price will be supported by the properties valuation.
At current price of 0.4 vs post rights NAV of 0.64 (if i remember it correctly), the price/ book is 0.625. It' s like a propery valued at 1M that is selling at 625K. I went back in because at 0.35 ... the price/ book was 0.54 ... it' s like buying a proerty worth 1 million at 540K. Even if dpu keep dropping ... can the price/ book really drop to 0.4, 0.3 or 0.2?
Post rights .... i think the nearest REIT to compare is Cambridge REIT ... where the price/ book is 0.87 and Yield of 7.1%. According to the Sabana OIL document for issuing rights ... the expected DPU is approximately 4c (after completing the purchase of 3 additional properties. Technically, if comparing with Cambridge ... the price should be 0.56 (if you use dpu of 4c or if you use the same P/B of cambridge). But .... i think Cambridge with the current dpu ... 7.1% yield is on the high side ... and should come down. i doubt Sabana can go above 0.5 after this rights exercise ... but at 0.4 ... it' s still too low. At 0.4, the P/B is 0.65 and yield of around 10% (after completion of the purchase).
jackson5 ( Date: 03-Feb-2017 09:29) Posted:
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CEO SCOOPED UP 2.58 MILLION SHARES AT 0.3986