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infoshare ( Date: 07-May-2017 16:11) Posted:
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SGX Announcement
Issue of S$50 million 3.60 per cent. Fixed Rate Notes due 2022 Further to the announcement dated 17 March 2017, AIMS AMP Capital Industrial
REIT Management Limited (the " Manager" ), as manager of AIMS AMP Capital Industrial REIT (" AA REIT" ), wishes to announce that AACI REIT
MTN Pte. Ltd. (the " Issuer" ), a wholly-owned subsidiary of HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of AA
REIT) (the " AA REIT Trustee" ), has today issued S$50 million 3.60 per cent. fixed rate notes due 2022 (the " Notes" ).
The Notes are issued under the S$500,000,000 Medium Term Note Programme established by the Issuer on 25 July 2012 and all sums payable in
respect of the Notes will be unconditionally and irrevocably guaranteed by the AA REIT Trustee.
Standard Chartered Bank and United Overseas Bank Limited acted as the joint lead managers and joint bookrunners for the issue of the Notes.
http://thefinance.sg/2017/03/18/aims-amp-capital-industrial-reit-levels-up/
See above link for a write-up by one experienced investment blogger on AIMSAMP Cap Industrial REIT. The recent refinancing ahead of the expiry date in Nov this year for part of their debts due by issuing bond with reasonable coupon rate even at lower interest rate than their existing notes bear testimony to their management's prudence as interest rate is rising now. The new bond issued will diversify their funding sources and create more financing flexibility options in future instead of solely relying on their medium note debt facility. I expect their overall interest expenses to be reduced slightly after this refinancing with the new bond of lower interest rate. It will also increase their average years to debt maturity from 2.1 to 2.4 years.
Financial results for previous quarter are indeed reasonably stable. However, if we look at y-t-d results in comparing against previous year, there is a slight decrease in all fronts of rental revenue, net rental income and distribution. Nevertheless, the occupancy rate at 94% is still resonably healthy. Also, 80% over of their debts are with fixed interest rate for an average weighted expiry period of 2.1 years. Expect the industrial rental property sector to still face oversupply in near term of this year. The oversupply impact is felt in the slight decrease in rental revenue, net rental income and distribution for this REIT. The game of survival now is the ability to retain quality tenants for the industrial property rental sector in view of the current oversupply situation.
However, there maybe some bright spots identified by management such as the west areas like Tuas which still draw demand for logistics and warehousing needs. Based on their current developments with slightly more rental revenue coming on stream this year 2017 from newly completed and master leased property, seems this whole year 2017 financial performance for this REIT should still be reasonably healthy barring any unforeseen circumstances.
paul1688 ( Date: 09-Feb-2017 10:00) Posted:
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Nice 4Q2016 result. 2.77 cents distribution per unit.
I don' t quite understand why you say the distributions from AIMSAMP CAP REIT are not tax-exempted? If you are a Singaporean investor, all dividends and capital gains through investing in SGX listed stocks are non-taxable. For all REITs, if they distribute at least 90% of their taxable income, they also enjoy a corporate tax-exempt for their income. For AIMSAMP CAP REIT, they have distributed at least 90% of their taxable income so far through the years, so there should not be any tax to be paid. Unless you are referring to some other thing, then you got to enlighten me on that.
i used to own this stock for its good REiTs dividend yield at ard 8% until the mgmt had issue with refinancing it assets at one point and at the agm i wasnt totally convince under his charge, he was able to turn it around but somehow he did. It wasnt a pleasant journey and I made a switch to Ascendas ReITs. At that time (not sure abt now), AIMSAMP dividend is not tax exempted and that was another factor which I decided to look for a ReITs that is tax exempted.
Ever since the two new CEOs took over one after another from the previous CEO some years back when this REIT was under another old name and nearly got into problems with refinancing its debts then, the management team under the new CEOs have become prudent and wise in their capital allocation and management. Sometimes, we do not need to wait until financial results are released to know how a company will perform. A well run company will be able to balance the interests of all stakeholders (suppliers, customers, employees, shareholders etc.) taking care of every stakeholders' needs to their best ability. Every decision made by management will be well thought out whether facing good times or bad times. And also the management is hardworking and has integrity. This is the art of investing if we go beyond just looking at numbers.
Warren Buffett has invested into businesses before whereby he has not visited the company but has only spoken with the CEO or management of the company. From just speaking to the CEO and management, he is able to tell the qualities of the management, whether it is hardworking, capable, wise and has integrity? This shows how important it is to have quality management at the helm of every businesses. Sometimes, if we just look at what decisions have been carried out by the management over a period of time (during good times and bad times), we will be able to tell the quality of the management, whether this is a quality one or not.
jebuscries ( Date: 25-Nov-2016 12:17) Posted:
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Vested.
I quite like this REIT. Trading at 52 week low in the absence of negative news. Relatively low gearing at 34%. Trailing yield at > 8.5%. Two of its Tuas properties completing asset enhancement next year and expected to contribute more to DPU in 2017.
Key risk is the rise in vacancies. I think interest rate hike effects would be minimal because 1) any hike would be gradual and 2) 67.5% of its debt are on fixed rates anyway.
All in all, I consider this a buying opportunity. Loaded more at 1.26
Short selling pressure over the past few weeks caused the decrease in price. If you observe more closely, there are increased volumes of transactions in recent few weeks that previously were never there before the short selling begun. As for fundamentals wise, no recent negative news or announcements from the REIT. Of course, market watchers and investors may have changed their views on the REIT industry especially with the impending likely US Fed Reserve interest rate hike next month. My advice is to do more due diligence on the individual REIT and form own independent opinion on the REIT instead of just blindly following what others say as an interest rate hike affecting all REITs across the whole industry equally is just a sweeping statement to me.
elea88 ( Date: 24-Nov-2016 15:48) Posted:
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any idea why sudden drop to 1.25?
AIMSAMP Cap REIT yield looks attractive.
http://mystocksinvesting.com/singapore-reits/bubble-charts/singapore-reit-stock-shortlisting-bubble-charts-november-2016/
Agreed. Looks like an opportunity to accumulate more.
us9392 ( Date: 18-Oct-2016 00:54) Posted:
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Putting my small bid at $1.33 tommorrow. Think its just temporary without major announcements. DYOHW.
Wah. Lucky haven buy yet. Was about to press buy button. what the hell.
Yes, one of the better ones. DYODD
shoelace ( Date: 16-Oct-2016 22:18) Posted:
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One of the best REITS out there ? good to buy ?
AIMSAMP Cap REIT Price/NAV radar chart.
http://mystocksinvesting.com/singapore-reits/price-nav-radar-chart/singapore-reit-sector-radar-chart-for-pricenav/
Total distribution for quarter at 2.75 cents. Ex Div 3 Aug.
Yep, temptation is there - maybe enter half of what you have in mind - what if.... it goes lower? Possibility is there. I picked up at 1.275 early in the year.....
ES8888 ( Date: 19-Jun-2016 22:07) Posted:
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