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The DBS report is a joke written by 2 clowns titled as a question " More Clarity or more uncertainties going forward?" They dont even have the balls to commit to one view and want to be on the right side regardless of the outcome in the future. Plucking some figures from the sky and come up with some round number 30 cent as target price is as good as asking a monkey to decide the target price. Then again, what can you expect from the same people who bring us Eagle Hosp REIT
Don' t forget ESR holds 20.6% of Sabana and the largest unitholder. They have vested interest and will not going to go against their own investment. They are trying to " swallow" the Sabana REIT with " low ball" offer only.
cloudy.mountain ( Date: 10-Aug-2023 10:18) Posted:
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all the ESR scare tactics is not working.
read the trustee announcement, it' s clear trustee is holding the REIT manager to account until the REIT management can be internalised
read the trustee announcement, it' s clear trustee is holding the REIT manager to account until the REIT management can be internalised
Will banks stop the loans to be rolled over ?
shorts already starting to cover.
Just wait till the dividend is paid out, then possible large round of buying. shortist in Sabana will be taught a lesson here
Just wait till the dividend is paid out, then possible large round of buying. shortist in Sabana will be taught a lesson here
I think u all will say the same thing when share price hits 30 cents and below 
. Some of you even declare urself more expert and savvy than DBS research. 
. Some of you even declare urself more expert and savvy than DBS research. ehclim ( Date: 10-Aug-2023 09:58) Posted:
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Uncertainty is not favorble to investors . Big shareholders will fight for control of the manager . New era , new challenges .
" Scare tactics" cannot work with hardcore and resilient Sabana unitholders. We have gone through many troubled waters and every time emerged stronger and better after every turbulence subsided.
sangsang1 ( Date: 10-Aug-2023 09:41) Posted:
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can possilby be some party using scare tricks again to make shareholder sell cheap so can buy in now and try to vote again.
shareholders must be firm and not fall for this
shareholders must be firm and not fall for this
Even on basis of your premise, that is bank grant preferential rates to sponsors hoping to establish them as corporate clients, they will not do so at a risk of their own finances, moreover for a Reits where the " sponsor" holding is a meagre 20%. Even if banks really do want to establish relationship with ESR Group, isn' t it more fruitful for them to grant preferential rates to ESR Reits than Sabana Reits? The truth is no banks will grant a businesses preferential rates at financial risk to themselves unless the business themselves are fully capable and willing to underwrite the risk. There is absolutely no chance ESR Group will underwrite that loan risk, especally if they just owned 20% of that reits.
GoldenPig ( Date: 10-Aug-2023 01:24) Posted:
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Dbs research is clueless la, just check their track record of TP for REITs they do alot of placements with and you will know
IMO, Sabana below 40 cents is great buying opportunity., back to covid price
same price as during covid period but now have NTP+, 1 TUas Ave 4, ownership of manager.
DBS probably angry that no more placement and rights business with Sabana once internalised which is great for shareholders
IMO, Sabana below 40 cents is great buying opportunity., back to covid price
same price as during covid period but now have NTP+, 1 TUas Ave 4, ownership of manager.
DBS probably angry that no more placement and rights business with Sabana once internalised which is great for shareholders
unless it is capitaland or mapletree which are the top top sponsor quality, sponsor helping to get preferential interest rate is a myth.
Just look at ESR REIT which has strong ESR sponsorship, even though the reit is bigger, their interest cost is 3.96%, even higher than Sabana' s interest rate of 3.89%
Suntec REIT, another ESR' s managed reit also saw interest rate jump to 3.64% from 2.9%.
shows that portfolio is more important or that banks doesn' t care about sponsorship once its not top tier
Just look at ESR REIT which has strong ESR sponsorship, even though the reit is bigger, their interest cost is 3.96%, even higher than Sabana' s interest rate of 3.89%
Suntec REIT, another ESR' s managed reit also saw interest rate jump to 3.64% from 2.9%.
shows that portfolio is more important or that banks doesn' t care about sponsorship once its not top tier
Don' t think banks give preferential rates just because they expect sponsors to underwrite. That doesn' t make sense.
Think sponsors can get better rates from banks because they can give the " preferred" bank additional business since they are likely sponsors of other REITs. Besides, sponsors are businesses themselves and banks will want to establish them as corporate clients.
Think sponsors can get better rates from banks because they can give the " preferred" bank additional business since they are likely sponsors of other REITs. Besides, sponsors are businesses themselves and banks will want to establish them as corporate clients.
Niburu ( Date: 09-Aug-2023 21:52) Posted:
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ESR Group % holding over Sabana Reits is only around 20%. Given that, any bank loan to Sabana Reits will be made almost on 100% basis of Sabana Reits' ability to cover their recurrent loan payment through their recurrent revenue and the debt-equity ratio of Sabana Reits etc. It will seriously be a fairy tale if any bank grant any preferential rate to Sabana Reits on account of that meagre 20% holding that ESR Group held in Sabana Reits. In the hypothetical scenario where shits hit the fan, will ESR Group even underwrite all of Sabana Reits loan, given they only hold 20% of Sabana Reits? Impossible. A bank will be stupid to grant preferential rate on that ground.
luckyguy3 ( Date: 09-Aug-2023 17:37) Posted:
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those dbs analyst are never fair when it is come to rating ... They see money and just follow them.
Observers ( Date: 09-Aug-2023 06:16) Posted:
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Nope. They based their report on the DPU getting hit by the costs of implementing the internalisation and also increase in the interest rate of their bank loans since they are not backed by a big sponsor.
Currently DPU is about 3 cents per year, share price 40 cents. Yield = 3/40 = 7.5%
They are expecting the DPU to get hit at least for the short to medium term (1-2 years) and suffer a drop.
So they expect DPU to drop to 2.3 cents per year, share price will drop to 30 cents. Yield = 2.3/30 = 7.6%
Currently DPU is about 3 cents per year, share price 40 cents. Yield = 3/40 = 7.5%
They are expecting the DPU to get hit at least for the short to medium term (1-2 years) and suffer a drop.
So they expect DPU to drop to 2.3 cents per year, share price will drop to 30 cents. Yield = 2.3/30 = 7.6%
BlackAx ( Date: 09-Aug-2023 17:17) Posted:
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Could DBS be trying to talk down the share price for nominees for Tong/ESR group. And at 0.30 it be a bargain for them to shore up their holdings .🤔
Most of the analysts are very academic and how much they know of every counter listed in the SGX. Take it with a pinch of salt.
Huchin ( Date: 09-Aug-2023 11:56) Posted:
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Go n check DBS past rating on EZION. Continue to rate it best when eveyone knew it' s approaching final resting day!
RumbaRambo ( Date: 08-Aug-2023 18:51) Posted:
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I think there will be some sell down tomorrow which is normal given the uncertainty in the next weeks. This knee jerk reaction is predictable. An opportunity for those who believes in Sabana to buy at a discount 😜 .In the meantime the trustee will work with the current manager to provide the necessary stability until a new one is employed. Best wishes to all the retail investors who voted in favor of the change.👍