Lendlease Reit - Is it a value trap or opportunity?

 Is this a value trap or golden opportunity? 

I think I am gearing more towards extra cautious mode! 

The market is weak and all waiting for Fed meeting in September whether will there be another hike or postpone till November. 

NAV 0.787. Yearly dividend is about 4.7 cents.  Yield is about 8.4%.

The current high interest rates environment is likely increase their operation costs and thereby eating into their distribution income and lower the dpu payout.

Chart wise, looks like the same scenario may play out like Ireit chart patterns. 

short term wise, it may go down to revisit 50 cents.

Please dyodd.

Quote: citi analyst - LREIT’s gearing for the 4QFY2023 ended June 30 stood at 40.6%, which is its highest level since it listed on October 2019.
“We estimate a higher look-through (including $0.4 billion [in] perpetual securities (perps) and debt at Parkway Parade Partnership’s level) gearing of 50.5%, which ranks highest among S-REITs under our coverage (average 40.1%),” Lee writes. Is good to be extra cautious!

The manager of Lendlease Global Commercial REIT (“Lendlease Global REIT”), announced today that it has successfully completed its Initial Public Offering (“IPO”) of 387,474,987 units in Lendlease Global REIT (“Units”) at S$0.88 each (“Offering Price”), in connection with the proposed listing.

IPO price at 0.88 I think likely a history! 

Those got it at IPO is still loosing money even with dividend collected.

Pls dyodd.

CapLand India Trust - She is rising up to test 1.20, I think is good to lock in profit!

 Wah, she has risen up and test 1.19 - 1.20 , one of the reit counter that is in the green territory!

I have taken this opportunity to secure the profit for the PO price offered at 1.06, swee! Plus collected dividend. 

I see major overheads resistance at 1.20-1.21!

Please dyodd.

 She is gaining strength and likely to rise up to test 1.18. A nice breakout smoothly of 1.18 may see her rising towards 1.20 - 1.24.

Please dyodd.

 One of the reit counter that is having a long and bullish green candlestick , looks like something is brewing!

I think is gd to monitor and see ifvthe price can continue to rise up further to test the recent high of 1.18.

Please dyodd.

 Results is out!

NPI is up 18% to 6.8b.

total distribution income is 44m. One SGS = 61.5 India Rupee.

Occupancy rate is 94%.

Gearing 33%.

I think the financial numbers is below my expectations of 4.1 cents dpu.

Cautious mode!

Pls dyodd.

Results will be out on 31st July morning, huat ah! 

 Estimating the fist half year dividend of 4.1 to 4.15 cents. 

Yearly dividend is about 8.2 cents, yield is about 7.06%. I think is quite a nice yield !

Please dyodd.

 Yesterday she has a nice breakout at 1.15 today accompanied with high volume and closed well at 1.18 this is rather bullish! 

Short term wise,  I think she is rising up to revisit 1.21 than 1.24.

Please dyodd.

 PO results is out! 

The new share will be deposited on your account on 18th July.

The current price of 1.14 is trading higher than the PO price of 1.06.

I think many might have taken the opportunity to lock in profit!

Please dyodd.

PO officially closed at 5.30pm on 10th July 2023.

New share will be credited and start trading on 18th July.

First half year results cum dividend will be announced on 30th July before trading commence!

I have applied by rounding the share to even lot number.

All the best to those who has applied including excess!

Today share price close at 1.12. Looks like uptrend is still intact!

Please dyodd.

 Preferential Offering of share at 1.06 per unit.

PO exercise date from 30th June to 10th July

 5.30pm.

Every 1000 share you are entitled 119 unit of share. 

If you hold 5000 share, you are eligible to apply for 547 unit at 1.06 per share. 

You may choose to apply together with excess to make it an even lot number for example 600 share or 1000 share. 

The new share will be credited to your account on 18 July 2023.

Good luck!

Please dyodd.

Chart wise,  bullish mode!

Likely to continue to trend higher!

Short term wise,  a nice breakout of 1.14 smoothly may likely see her rising up to test 1.21.

Yearly dividend of about 8.3 cents.

Yield is about 7.28%

NAV 1.08.

CapitaLand India Trust (CLINT), formerly known as Ascendas India Trust, was listed on the Singapore Exchange Securities Trading Limited (SGX-ST) in August 2007 as the first Indian property trust in Asia. Its principal objective is to own income-producing real estate used primarily as business space in India. CLINT may also develop and acquire land or uncompleted developments primarily to be used as business space, with the objective of holding the properties upon completion. As at 12 May 2023, CLINT’s assets under management stand at S$2.7 billion.

CLINT’s portfolio includes nine world-class IT business parks, one logistics park, one industrial facility and four data centre developments in India, with total completed floor area of 19.2 million square feet spread across Bangalore, Chennai, Hyderabad, Pune and Mumbai. CLINT is focused on capitalising on the fast-growing IT industry and industrial/logistics asset classes in India, as well as proactively diversifying into other new economy asset class such as data centres. 

CLINT is structured as a business trust, offering stable income distributions similar to a real estate investment trust. CLINT focuses on enhancing shareholder value by actively managing existing properties, developing vacant land in its portfolio, and acquiring new properties.

CLINT is managed by CapitaLand India Trust Management Pte. Ltd., formerly known as Ascendas Property Fund Trustee Pte. Ltd. The trustee-manager is a wholly owned subsidiary of Singapore-listed CapitaLand Investment Limited, a leading global real estate investment manager with a strong Asia foothold.    

IT Parks

Our business parks offer a distinct business lifestyle where convenience and comfort meet productivity. Lush greenery and modern architecture create an exciting landscape that inspires knowledge workers, while an impressive array of amenities is designed to enhance the working experience. From sports, medical and childcare facilities to restaurants and cafes, our thoughtfully curated range of services cater to all professional needs. We have also seamlessly integrated technology and sustainable practices throughout our parks, from energy-efficient buildings to smart infrastructure, minimizing our environmental impact while maximizing efficiency.

Data Centres

We are developing 4 data centres in India’s key data centre markets – Navi Mumbai, Hyderabad, Chennai, and Bangalore. As at second quarter 2023, construction of the data centres in Navi Mumbai and Hyderabad have commenced. When fully developed, the four state-of-the-art data centres will deliver a total power capacity of 244 MW. Our data centres adopt sustainable design principles and green building standards, including features such as intelligent energy management systems, solar panels, and highly efficient cooling systems using low global warming potential refrigerant. 

Industrial/Logistics Facilities

Our industrial facility is a premier Grade A asset, fully leased to a multinational electronics manufacturer. It is situated in Mahindra World City, a renowned industrial micro-market known for its blue-chip occupants.

Our logistics asset consists of seven modern and high-quality warehouses ensuring efficient and seamless logistics operations. It is situated in Panvel, a well-established and strategic warehousing zone that provides convenient access to India's largest container port, the Jawaharlal Nehru Port Trust.

SSB - Singapore Saving Bond - Average 3.16 percent for Oct 2023 , Awesome!

 Wah, average 3.16 percent for Oct 2023 SSB, very good interest rate with little or no risk fixed income.  

Don't miss out!

Last day to apply 26th Oct 2023.

Amount Offered - 800m.

Huat ah!

Please dyodd.

 This month average 2.99% interest for 10 years duration  is not bad! 

Application Start from 3rd July to 26th July 

I have been redeeming the old batch from 2018 and 2019 and re-apply for higher interest %. 

This is the best option/flexibility for SSB.

 Results is out for July SSB. All fully alloted!

Is under subscription for the total issurance of 600m.

 Singapore Saving Bond - one of the best option to park your cash to earn a higher interest that spread across 10 years.

This month bond offering start from 1st June 6pm onwards to 26 June 2023 9pm.

10 years average interest rate is 2.82%. Is quite good! 

SBJUL23 GX23070H in your CDP statement
Interest payment will be reflected as CDP-SBJUL23 in your bank statement
GX23070H in your SRS statement.

A safe and flexible way to save for the long term

The monthly issuance size of the Singapore Savings Bond (SSB) programme is S$600 million for this month. For more details, refer to the media release.

 Interest rate is Based on the table rate reflected on the website.
At the end of each year, on a compounded basis.

http://www.sgs.gov.sg/savingsbonds/Your-SSB/This-months-bond.aspx

Application may apply through: DBS/POSB, OCBC and UOB ATMs and Internet Banking and SRS. CPF funds are not eligible.

Invest amount : You can invest a minimum of $500, and in multiples of $500. The total amount of Savings Bonds held across all issues cannot be more than $200,000.

Interest Payment dates : Upcoming payment: 01 Jan 2024
Subsequent payments (until maturity): Every 6 months on 01 Jul and 01 Jan

Each Savings Bond has a term of 10 years and pays interest every 6 months. Savings Bonds cannot be traded like conventional bonds or shares. Interest income is exempt from tax. Only individuals above 18 years old can apply.

 Savings Bonds are fully backed by the Singapore Government. And because the bonds can always be redeemed for the full amount invested, investors are protected against capital losses when interest rates change. This makes them one of the safest possible investments for individuals to hold.

Save up to 10 years, and earn interest that “steps up” or increases over time. Hold your Savings Bond for the full 10 years and receive an average interest per year that matches the return from 10-year Singapore Government Securities yields, which has generally been between 2%-3%.

Flexible : 
 Or, choose to exit your investment in any given month, with no penalties. There is no need to decide on a specific investment period at the start.

Just received my interest this month, awesome! 

CapLand China Trust !(AU8U.SI) - She is trading at 90 cents, first time seeing her fallen to such a low level, Yield is gd at about 7.9%!

 At 90 cents,  let's say yearly dividend min is 7.1 cents,  yield is about 7.9% . I think price has overly sold down to such a low price. 

Short term wise,  I think it may continue to be weak as reit is sensitive to higher interest rates situation! 

Hopefully, interest rate will likely peak and pause. 

Please dyodd.

 

After ex.dividend, the price has further corrected from 1.02 to 0.90 seem rather overly done! 

The recent news from China side may also put some weight on China related counter.

At 0.915, yield is about 8%. 

NAV 1.336. But Gearing is quite high slightly above 40%. 

Not a call to buy or sell!

Please dyodd.

Yearly dividend is about 7.48 cents   Yield is about 7.63%.

Please dyodd. 

Today it has gone down to touch the low of 97 and rises up to hit 1.02 before closing at 1.00 looks like more or less the selling is completed.

The transacted volume is huge,  looks like we may  have seen the bottom.

This afternoon was deciding whether to get some unit at 97.5 cents while it was trading at 97 to 97.5 cents or Ascendas REIT at 2.65. I nibbled a bit of Ascendas REIT at 2.65 instead! 

Results will be out on 27th July before trading commence cum dividend announcement.

Let's wait for the first half results and see how it fares from the current price of 1.00!

Please dyodd.

Wah, she is being pressed down to such a low level seem rather overly done!

She is being driven into a super extended oversold territory, I think likely to see a technical rebound!

Nav 1.336, yearly dividend of about 7.6 cents, yield is 7.6% for this China industrial, DC cum office reit seem rather interesting! 

Not a call to buy or sell!

Please dyodd. 

Mapletree PanAsia Com Tr - I think Boat is Back! Yield is about 5.82% at 1.52 for this index reit looks like quite a nice yield level!

 At 1.52, yearly dividend is about 8.86 cents,  yield is about 5.82% for this index reit looks rather interesting!

NAV 1.749. Gearing is high at 40.7%. Please take note and do your own due diligence!

 Indeed,  it has broken down 1.57 and went down to touch 1.50. Looks rather weak!

Yesterday a nice greenish candlestick appeared looks like some buying activities is happening. 

Let's monitor and see if it can rise up to reclaim 1.60 !

Please dyodd.

 I think she has been driven into an oversold territory looks like a gd pivot point!

NAV is 1.749.

Yearly dpu is about 8.86 cents. Yield is about 5.5%.

In Singapore they own the core assets like VivoCity and Mapletree Business City (MBC). In Hong Kong they own the Famous Festival Walk shopping mall cum commercial office etc. 

Chart wise,  bearish mode!

It 1.60 cannot hold up well then next support is at 1.57.

Please dyodd.

 The results is so so!

NPI is up 1% to 179.2m.

Finance costs increase 6.1% to 54m.

Distribution income is down 2.4% to 114.7m.

Dpu of 2.18 cents versus 2.25 cents last quarter. 

Occupancy rate is 95.7%.

Gearing 40.7%.

 Results is due on 31st July!

Is it a tell tale sign results might not be good! 

Pls dyodd.

 

Chart wise,  she is gaining strength and likely rise up to test 1.70-1.72!

A nice breakout at 1.72 plus good volume we may likely see her rising up further towards 1.80 than 1.85.

Please dyodd.

 I nibbled a bit at 1.61 as it is hovering at the major support level! 

Not a call to buy or sell!

Pls dyodd. 

Mapletree Pan Asia Commercial Trust (“MPACT”) is a real estate investment trust (“REIT”) positioned to be the proxy to key gateway markets of Asia. Listed on the Singapore Exchange Securities Limited (“SGX-ST”), it made its public market debut as Mapletree Commercial Trust on 27 April 2011 and was renamed MPACT on 3 August 2022 following the merger with Mapletree North Asia Commercial Trust.

Its principal investment objective is to invest on a long-term basis, directly or indirectly, in a diversified portfolio of income-producing real estate used primarily for office and/or retail purposes, as well as real estate-related assets, in the key gateway markets of Asia (including but not limited to Singapore, China, Hong Kong¹, Japan and South Korea).

MPACT’s portfolio comprises 18 commercial properties across five key gateway markets of Asia – five in Singapore, one in Hong Kong, two in China, nine in Japan and one in South Korea. They have a total NLA of 11.0 million square feet and valued at S$17.1 billion. 

Within Singapore, they are:

• VivoCity – Singapore’s largest mall located in the HarbourFront Precinct;
• Mapletree Business City (“MBC”) – a large-scale integrated office, business park and retail complex with Grade A building specifications, supported by ancillary retail space, located in the Alexandra Precinct;
• mTower – an established integrated development with a 40-storey office block and a three-storey retail centre, Alexandra Retail Centre (“ARC”), located in the Alexandra Precinct;
• Mapletree Anson – a 19-storey premium office building located in the Central Business District (“CBD”); and
• Bank of America HarbourFront (“BOAHF”) – A premium six-storey office building located in the HarbourFront Precinct.

Outside Singapore, they are:

• Festival Walk, Hong Kong – a landmark territorial retail mall with an office component;
• Gateway Plaza, China – a Grade A office building with a podium area in Lufthansa sub-market within Beijing;
• Sandhill Plaza, China – a Grade A business park development in Zhangjiang Science City, a key business and innovation hub in Pudong, Shanghai;
• Japan Properties – nine freehold properties comprising five office buildings in Tokyo (IXINAL Monzen-nakacho Building, Higashi-nihonbashi 1-chome Building, TS Ikebukuro Building, Omori Prime Building and Hewlett-Packard Japan Headquarters Building); an office building in Yokohama (ABAS Shin-Yokohama Building) and three office buildings in Chiba (SII Makuhari Building, Fujitsu Makuhari Building and mBAY POINT Makuhari); and
• The Pinnacle Gangnam, South Korea – a freehold Grade A office building with retail amenities located in Gangnam Business District, Seoul.

MPACT is one of the three REITs sponsored by Mapletree Investments Pte Ltd (“MIPL” or the “Sponsor”), a leading real estate development, investment, capital and property management company headquartered in Singapore.

MPACT is managed by MPACT Management Ltd. (“MPACTM” or the “Manager”), a wholly-owned subsidiary of MIPL. The Manager aims to provide unitholders of MPACT (“Unitholders”) with a relatively attractive rate of return on their investment through regular and steady distributions, and to achieve long-term stability in Distribution per Unit (“DPU”) and Net Asset Value (“NAV”) per Unit, while maintaining an appropriate capital structure for MPACT.

2022 FY Financial results:

MPACT Achieves 65.4% and 62.6% Growth in FY22/23 Gross Revenue and Net Property Income

Full-year distribution per unit (“DPU”) totalled 9.61 Singapore cents.

Boosted by contribution from properties acquired through the merger1.

Better performance of core assets, VivoCity and Mapletree Business City (“MBC”), cushioned higher utility and finance costs in FY22/23. 

Positive rental reversion recorded by all markets except Greater China.

VivoCity’s full-year tenant sales set new record at over S$1 billion, and asset enhancement initiative (“AEI”) on Level 1 on track for opening from end-May 2023.

Improvement in shopper traffic and tenant sales at Festival Walk with the lifting of COVID measures and reopening of border with Mainland China.

Successfully renewed major leases at Bank of America HarbourFront, Festival Walk, Gateway Plaza and MBC during the year, adding to portfolio resilience.

Chart wise, bearish mode!

It is now hovering at the support level of 1.60-1.61.

Yearly dividend is about 9 cents ( base on 4th quarter dpu of 2.25 cents).

Yield is about 5.6% based on current price of 1.61.

NAV is 1.759.

As at 31 March 2023, the aggregate leverage ratio was 40.9% and the average term to maturity was 3.0 years. For FY22/23, the weighted average all-in cost of debt was 2.68% per annum and the adjusted interest coverage ratio was approximately 3.5 times on a 12-month trailing basis. 

Not a call to buy or sell!

Please dyodd.

DBS Group - local number one bank counter will it rally come Monday with rate lijely pause in Sept!

 After XD, she has corrected lowered and went down to test 32.48 and then bouncing off to close higher at 33.300 a nice rebound indeed! 

Will it continue to rise up further as rate hike might be paused for Sept. 

Let's monitor and see how the market react!

Please dyodd. 

Today close at 33.29 looks rather weak and may likely go further down to test 32.26 than 32.00.

Breaking down of 32.00 plus high volume we may see her drifting lower to 31.00 than 30.00.

Please dyodd.

Chart wise, there are major overheads resistance and I think is good time to secure the profit. 

The recent selling by the chief of about 100,000 share at about 34+ looks like it has trading at peak level.

After XD, price may go down to test 32.88 than 32.28.

Not a call to buy or sell!

Pls dyodd. 

 Locked in kopi lui at 34.23.

Please dyodd.

Impressive set of financial numbers for 2nd quarter 2023.

Net profit increase 48% to a record earnings of 2.69b as total net income crosses 5b.

Declared interim dividend of 0 48. Versus 0.42 last quarter. Awesome. 

XD 11 August.  Pay date 24 August.

EPS increase 4.02% from 2.80 to 4.15.

NAV also increase 21% from 20.78 to 21.85.

Fantastic! I think price may gap up !

Hopefully,  it may stay above 34.00 with this stellar sets of financial results!

Please dyodd.

Friday after a jump in unemployment cemented expectations of a pause in interest rate hikes this month, while shares of streaming firms tumbled due to a rate dispute between Disney and Charter Communications