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701-720 of 1837
Going to be very strong. Definitely will rise.
Tuestar ( Date: 16-Oct-2020 08:52) Posted:
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CapitaLand Mall Trust (CMT) for the listing of up to 2.78 billion new units as part consideration for its merger by way of a trust scheme with CapitaLand Commercial Trust (CCT)
ALOT OF SHARES TO DISTRIBUTE .... ANOTHER 75% MORE SHARES !
ALOT OF SHARES TO DISTRIBUTE .... ANOTHER 75% MORE SHARES !
LOOK AT OUE COMM REIT POST MERGER... PRICE LOWER AND LOWER
NEVER RECOVER
ANALYSTS RECOMMEND BUY TO UNLOAD TO IGNORANT BUYERS
NEVER RECOVER
ANALYSTS RECOMMEND BUY TO UNLOAD TO IGNORANT BUYERS
Last day CD, it should rise upon merger.
what are your thoughts, will it price up or drop upon merger?
Price depressed for accumulating. It has been months already..
GreenTrap ( Date: 15-Oct-2020 15:47) Posted:
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1.92
Office occupancy good, mall business good make more money for sure, reverse is true also. Merger should reduce management fees and other fees... redundant manpower shall be layoff.
marketuncle ( Date: 15-Oct-2020 11:07) Posted:
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Thank you marketuncle,
At least on paper that is true. But not really sure that it will work out in practice in these market conditions.
At least on paper that is true. But not really sure that it will work out in practice in these market conditions.
marketuncle ( Date: 15-Oct-2020 11:07) Posted:
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Its anybody' s guess. All i know is the NAV/share and DPU will increase after merger.
https://fifthperson.com/cmt-cct-merger-pros-cons/
See above for more details. Except that the merger was delayed from Jun to Oct
See above for more details. Except that the merger was delayed from Jun to Oct
Market price. Wait till next Wed to know. But the new issue share price of CMT is 2.59.
depending on market, no?
what capitamall price will be, no?
CICT Reit what will be the opening price on next Wed ah?
LeShramp,
I appreciate your well thought out views to encourage long term holders of CapitaMall and other shareholders. You are very optimistic and your assumptions are based on very futuristic projections (as DCF requires that).
My view is much more extreme at the other end for suggesting that this year' s deferred dividends may become next year' s only dividend payouts.
This view is bound to shock many investors and I do not want to depress others in an already depressed environment.
I also want to add that I am one of the last remaining ' pioneer' investors in this trust which is also Singapore' s first SGX listed Reits. If there are any ' pioneers' still hanging in here, please raise your hand, or shout out loud also, so that we may reminisce the good old days of CapitaMall Trust.
Thank you again.
I appreciate your well thought out views to encourage long term holders of CapitaMall and other shareholders. You are very optimistic and your assumptions are based on very futuristic projections (as DCF requires that).
My view is much more extreme at the other end for suggesting that this year' s deferred dividends may become next year' s only dividend payouts.
This view is bound to shock many investors and I do not want to depress others in an already depressed environment.
I also want to add that I am one of the last remaining ' pioneer' investors in this trust which is also Singapore' s first SGX listed Reits. If there are any ' pioneers' still hanging in here, please raise your hand, or shout out loud also, so that we may reminisce the good old days of CapitaMall Trust.
Thank you again.
On the statement that any deferred REITs dividend payments this year may only be payout next year, this is true as for most companies. REITs would enjoy the tax benefits so long as they declare the dividends within a financial year but the actual payment to unitholders may only take place in the next financial year, typically Q1.
Yes, for most REITs, it would also be smart and financially prudent for them to defer any dividend declaration until Q4 of each financial year and I do believe this is commonly practised even during pre-COVID. For CCT and CMT case, this has been brought forward to Nov' 2020 in light of the merger process.
Anyway, if history is of any lesson, humans have overcome many pandemics and emerged stronger each time, followed by significant economy growth. If you believe in the fundamental investing and are using DCF to value REITs (which in my view, is the most appropriate valuation methodology for REITs), a huge portion of REITs valuation by DCF are actually on future cashflows not near term cashflows. So in the sense, I' m comfortable at this point of time of a TP of $2.3-2.4.
The low interest rate environment is expected to stay for the next 2-3 years and with that, (i) savings rate would come down while spending would go up, (ii) consumers/companies would take up more debt to fund consumptions and (iii) investors would move into equity asset classes (e.g. REITs) in the seek for yield/income. This has happened in the 70s, 90s, post 2008. Once again, this is my amateur view.
Yes, for most REITs, it would also be smart and financially prudent for them to defer any dividend declaration until Q4 of each financial year and I do believe this is commonly practised even during pre-COVID. For CCT and CMT case, this has been brought forward to Nov' 2020 in light of the merger process.
Anyway, if history is of any lesson, humans have overcome many pandemics and emerged stronger each time, followed by significant economy growth. If you believe in the fundamental investing and are using DCF to value REITs (which in my view, is the most appropriate valuation methodology for REITs), a huge portion of REITs valuation by DCF are actually on future cashflows not near term cashflows. So in the sense, I' m comfortable at this point of time of a TP of $2.3-2.4.
The low interest rate environment is expected to stay for the next 2-3 years and with that, (i) savings rate would come down while spending would go up, (ii) consumers/companies would take up more debt to fund consumptions and (iii) investors would move into equity asset classes (e.g. REITs) in the seek for yield/income. This has happened in the 70s, 90s, post 2008. Once again, this is my amateur view.
St.Maximus ( Date: 14-Oct-2020 11:38) Posted:
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If you are wrong, I' ll be wrong with you.
But what I suggested is that any deferred REITs dividend payments this year may become the only actual dividend payments next year as next year' s distributable dividends may also again be deferred till the following year if the COVID situation deteriorates.
Like you, I am vested in CapitaMall Trust and several other REITS.
But unlike some investors, I no longer assume that REITs (or any other company) dividends are to be taken for granted (guaranteed, in other words). If there are any dividends, they can be seen as Bonuses especially in the current situation.
But what I suggested is that any deferred REITs dividend payments this year may become the only actual dividend payments next year as next year' s distributable dividends may also again be deferred till the following year if the COVID situation deteriorates.
Like you, I am vested in CapitaMall Trust and several other REITS.
But unlike some investors, I no longer assume that REITs (or any other company) dividends are to be taken for granted (guaranteed, in other words). If there are any dividends, they can be seen as Bonuses especially in the current situation.
Agree. I' m not suggesting that anyone should see this year' s dividend as an indication of next year' s dividend - particularly in the current environment. If tourism and consumer spending do not recover and in the absence of government support scheme, REITs' taxable income and likewise, dividend will drop. So everyone should do their own due diligence. I' m comfortable to hold this through (i) to enjoy any dividends and (ii) potential capital gains under my personal stressed scenario of the company' s financials.
Fundamentally, I believe in human' s thirst for experience, social interaction and aspirations. Yes, the pandemic may accelerate certain changes in consumption behavior (e.g. e-commerce). But I continue to stay vested as I believe that there is limitation to the degree of satisfaction which technology can bring to meeting the aforementioned human ' desires' , and the gap would still need to be bridge by O2O business model. Either way, my thesis/view could be royally wrong.
Fundamentally, I believe in human' s thirst for experience, social interaction and aspirations. Yes, the pandemic may accelerate certain changes in consumption behavior (e.g. e-commerce). But I continue to stay vested as I believe that there is limitation to the degree of satisfaction which technology can bring to meeting the aforementioned human ' desires' , and the gap would still need to be bridge by O2O business model. Either way, my thesis/view could be royally wrong.
St.Maximus ( Date: 14-Oct-2020 10:58) Posted:
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Do not count next year's chickens that are yet to be hatched. How do we know if this year's deferred dividend payments become next year's dividend payments? There are no guaranteed payments of dividends for Reits.