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CapitalMallTrust

Each Reit is unique. There is no direct comparison. Just because oue or ascott had some losses does not mean that will spread over to CMT. One needs to look at each Reit as separate entities.

TANPK123      ( Date: 16-Oct-2020 17:51) Posted: Ascott and OUE com reit and now this CMT Lost total 30K over after merge. Power

 

Sph reits trades at 0.9 × book value. Its parent SPH trades at less than 0.5 times book value. So if capitamall trades near book value as capitaland trades much lower, there is nothing inherently wrong.
Capitamall usually trades 1.1 to 1.2 times book value. Now, it trades near book value to reflect current situation. Nothing unusual. No need to be so concerned for CMT holders. We are okay, thank you.

danger      ( Date: 16-Oct-2020 17:08) Posted: capital retail china after recent rally only trade at 0.77x book value so if new merged CMT trade1.0x book value of $2.02 abit risky capitaland only trade at 0.56x book value so somewhere is not right ...

 

If that's your valuation for it then why not?

danger      ( Date: 16-Oct-2020 17:51) Posted: I don' t know what' s in for current CMT shareholders besides the super enlarged shares capital ? Better , same or even worst.. At current $1.91 price to $2 book value of merged entity   0.7x book value better buy ? TANPK123      ( Date: 16-Oct-2020 17:41) Posted: I notice most of the counter get merge stock price will drop more than 10%

 

You might want to look at its FFO or roe.

danger      ( Date: 16-Oct-2020 17:45) Posted: Oue com reit never see daylight post merger  danger      ( Date: 16-Oct-2020 17:08) Posted: capital retail china after recent rally only trade at 0.77x book value so if new merged CMT trade1.0x book value of $2.02 abit risky capitaland only trade at 0.56x book value so somewhere is not right ...

 

Cheaper REIT management fee? 2 managers last time now 1.1 to be sacked example.

danger      ( Date: 16-Oct-2020 17:51) Posted: I don' t know what' s in for current CMT shareholders besides the super enlarged shares capital ? Better , same or even worst.. At current $1.91 price to $2 book value of merged entity   0.7x book value better buy ? TANPK123      ( Date: 16-Oct-2020 17:41) Posted: I notice most of the counter get merge stock price will drop more than 10%

 

I don' t know what' s in for current CMT shareholders besides the super enlarged shares capital ?

Better , same or even worst.. At current $1.91 price to $2 book value of merged entity

  0.7x book value better buy ?

TANPK123      ( Date: 16-Oct-2020 17:41) Posted: I notice most of the counter get merge stock price will drop more than 10%

 

Ascott and OUE com reit and now this CMT Lost total 30K over after merge. Power

 

Oue com reit never see daylight post merger 

danger      ( Date: 16-Oct-2020 17:08) Posted: capital retail china after recent rally only trade at 0.77x book value so if new merged CMT trade1.0x book value of $2.02 abit risky capitaland only trade at 0.56x book value so somewhere is not right ...

 

I notice most of the counter get merge stock price will drop more than 10%

 

I think you got your math wrong regarding the price... Anyway close to pb1 is ok. At least in my view. There are some reits that trade way beyond pb1x or way beyond pb2x though different segments. But some institutions sold off quite a bit in recent months.

danger      ( Date: 16-Oct-2020 17:11) Posted: if based on 0.72 of $1.92 then even worst.. more profit to take for CCT holders marketuncle      ( Date: 16-Oct-2020 17:08) Posted: No lah, both similar. Just that CCT shareholder get some cash. Before merger: CCT share: $1.63 After merger CICT share: 0.72 x $1.92 = $1.38 + $0.259 ~ $1.63.

 

price changed past, as i was typing, it was 1.92. :P

 

1.91

 

 

if based on 0.72 of $1.92 then even worst.. more profit to take for CCT holders

marketuncle      ( Date: 16-Oct-2020 17:08) Posted: No lah, both similar. Just that CCT shareholder get some cash. Before merger: CCT share: $1.63 After merger CICT share: 0.72 x $1.92 = $1.38 + $0.259 ~ $1.63.

 

No lah, both similar. Just that CCT shareholder get some cash.

Before merger:
CCT share: $1.63

After merger
CICT share: 0.72 x $1.92 = $1.38 + $0.259 ~ $1.63. 

 

capital retail china after recent rally only trade at 0.77x book value

so if new merged CMT trade1.0x book value of $2.02 abit risky

capitaland only trade at 0.56x book value

so somewhere is not right ...

 

The advantage is only very slight danger. We can accept it. Thank you!

 

Capcom trust shareholder is having the better deal here in this merge.. have the cake and eat it too.. at the expense of CMT holders

 

new merged NAV is $2.02 so quite risky ... as trading near to 1x book value

both current stocks also at near 1x book value already

not much upside i suppose

 

So, Danger, Yes, they can sell for a small profit, good for them. But we will have new investors onboard and business will carry on. No need for too much concern. Anyway, u are not a shareholder, you do not need to worry lah!

danger      ( Date: 16-Oct-2020 16:19) Posted: it will be similar to SCI shareholders after getting the " free" SCM shares ... all can' t wait to take money if the CMT given value to CCT holder is valued $1.86 ... if price is $1.95 to $2... mai tu liao and yet they still have 26cent cash buffer in pocket

 

Last day of trading for CCT shareholders but for CMT shareholders, nothing is given free. I shard this before: