Ben & Jerry’s Chunkfest!

Have you been to an ice-cream beach festival? Ice-cream what? Yes, an ice-cream beach festival!

Featuring 15 exclusive and specially flown flavours from around the world as well as our favourite flavours in Singapore, there will be fun, games and activities for everyone. And to top it all, we are also introducing a brand new flavor at the event this year!

Join us from 2pm to 10pm on August 25, 2012!

Follow this link for full details: Ben & Jerry's Chunkfest!

Saizen REIT: Beefing up distributable income.

Saizen REIT has been adding apartment buildings to its portfolio since resolving the CMBS for YK Shintoku. This will go some way to ameliorating the expected decline in DPU due to warrants exercised earlier.

Since my blog post of 26 May 2012, Saizen REIT's unit price has been rising gradually, hitting a high of 16c just two sessions ago. Mr. Market has recovered from his anxiety and is making up for over selling the REIT back in May, it seems.

For anyone who has missed the boat and is thinking of jumping in now, I would say that the risk premium is higher now, obviously. In the last two years or so, the highest Saizen REIT's unit price went to was 18c, if I remember correctly. Would its unit price push to test 18c again? I am almost confident it would but when would it do so? That, I cannot say.

If the REIT's unit price should decline, there are layers of support with longer term supports clustered at 14.6c, 14.4c and 14.3c. The shorter term 20dMA is at 15.4c. People anticipating its half yearly income distribution which is payable sometime in September and to be announced this month could be eyeing the 20dMA. So, the support, if tested, could show some strength in the near term.

Related post:
Saizen REIT: Why did I buy and would I buy more?

Japan Residential Assets Manager, the manager (of Saizen Real Estate Investment Trust (Saizen REIT),said associate Godo Kaisha has agreed to acquire of Rise Yotsugibashi (RYB) from an independent party for JPY 428 million ($6.8 million).


RYB is a brand new building built in June. It comprises 49 residential units, three car parking lots and five bicycle lots....


RYB is currently in the process of being tenanted. It is expected to generate annual revenue and net property income of JPY 36.3 million and JPY 27.5 million respectively, which are equivalent to about 0.9% and 1.1% of Saizen REIT’s annual revenue and net property income in the financial year ended 30 June 2011 (FY2011).

Saizen REIT acquires residential apartment for $6.8m
Friday, 03 August 2012

© 2012 - The Edge Singapore

LMIR: 2Q 2012 DPU 0.79c.

LMIR has increased distributable income, giving a distribution per unit (DPU) of 0.79c in 2Q 2012, payable on 30 August 2012. This an improvement over the DPU of 0.69c in 1Q 2012. Having said this, it is still lower than the 0.815c I estimated, post rights.

LMIR has a gearing level of 9.3% (9.2% in 1Q 2012) and its interest cover ratio is 11.4x (13.3x in 1Q 2012).  There is plenty of debt headroom and I still believe that growth through further acquisitions is likely to be funded fully by debt and we could see DPU improving by a fair amount.

Indonesia remains a growth story with domestic consumption forming some 60% of its GDP. The demand for quality retail space is growing over time.

LMIR remains a bullet proof REIT with a strong balance sheet. However, whether it could deliver meaningfully higher DPU depends on its management which seems slow to act and has, in my opinion, under-delivered, post rights.

Would at I buy at current prices? No.

See slides presentation: here.

Related post:
LMIR: 1Q 2012 DPU 0.69c.

Masters In Management - At The London Business School

In a very competitive job market, are you thinking of how to stand out from the crowd? Have you thought of having a Masters Degree to give you that competitive edge in job applications?

London Business School is looking to increase the number of Masters in Management (MiM) applications it receives from graduates/recent graduates with less than a year’s work experience, who are looking for a post-graduate business course. 

The Master in Management (MiM) programme will lay the foundations for a successful career in business as it gives students a competitive edge in front of global recruiters. 

The MiM programme helps students develop deep knowledge and skills in the key areas of business that can be transferred directly to the corporate world. 
 Develop deep knowledge and skills in the key areas of business that can be transferred directly to the corporate world · Develop deep knowledge and skills in the key areas of business that can be transferred directly to the co
The MiM programme also comes with a Career Skills Programme which runs alongside academic study and assists students with career evaluation, job search and professional skill development.

To stay relevant and current, the MiM programme was developed in extensive consultation with top recruiters and the curriculum focuses on the knowledge and skills that employers demand.

Leading recruiters regularly visit the school and the programme's Career and Business Immersion weeks provide exclusive opportunities to meet top graduate employers.

In just one year, LBS graduates can get a world-respected brand on their CV. 

The 2011 Masters in Management Employment Report shows that:

· 96% of the class secured an offer of employment within three months of graduation

· 42% of graduates went into finance; 35% into consulting and 23% into corporate sectors

· There was an increase in the number of students being hired into the same organisation which shows that recruiters value the contribution MiM make.

· Companies hiring MiMs included A.T. Kearney, Apple, Bain & Company, Booz & Company, Citi, Google, HSBC, L'Oreal, McKinsey & Company, The Boston Consulting Group, Unilever, Universal McCann, UBS and ZS Associates. 

See the full report here.

MiM alum Andreas Lubbe, who used the MiM to fast-track his business career, said: "I felt that there was no degree other than the London Business School Masters in Management that would really help to prepare me for working in top tier companies."

Andreas's programme experience video is available on the London Business School Masters in Management website.http://bs.serving-sys.com/BurstingPipe/adServer.bs?cn=tf&c=20&mc=click&pli=4543570&PluID=0&ord=[timestamp]  

So, if you are thinking of gaining a strong competitive edge in a business career, why not consider the London Business School Masters in Management?  MiM is a full-time, 12 month programme and the next start date is September 2012.

For more information, download the brochure here

Relevant links:
London Business School
Masters In Management


Sponsored Post

Traffic accident with a Malaysian vehicle.

On Saturday night, while driving home on the PIE, there was an accident on the lane I was in. As I always make it a point not to follow too closely the vehicle in front of me when I drive, I was able to stop my car in time although the wet road surface from an earlier downpour made braking more hazardous.

I was really pleased that my safe driving style paid off. However, that happiness lasted for only 3 or 4 seconds. There was a loud bang and I felt the impact as a motorcycle crashed into the back of my car. Sigh. I got out of my car and took a look. Argh! It was a motorcycle from Johor! Nooooo!

From being pleased, I became upset in a flash.

The motorcyclist was dazed and he probably cut his lips in the fall as he had blood on his teeth. His bike had a "P" sticker. A newly licensed rider. He looked frightened too and I later found out that the bike was borrowed from a friend.

I think I must have felt sorry for him and he must have have felt relieved that I did not scold him. He said he had tried to change lanes instead of braking but because traffic was heavy, he couldn't do it and ended up crashing into the rear of my car. He should have stopped his bike instead of trying to change lanes.

Anyway, I made a police report later that night at the advice of a friend. In any traffic accident involving a foreign vehicle in Singapore, a police report must be made within 24 hours of the accident.

Today, I brought my car to the approved workshop and my worst fear was realised. I would have to claim against my own insurance policy first because the other party is a foreign vehicle. It has to be so if I want to get my car repaired soon. There is no guarantee that the cost of repair could be recovered from the other party!

I would also have to pay an excess of $600 claiming against my own insurance policy. I bought an NCD protector. Otherwise, I would also lose my NCD.

Whenever I hear of accidents like this, I would always wonder why it is so difficult to claim against insurance policies of Malaysian vehicles involved in accidents here. In fact, I was told that it is almost impossible.

Singapore vehicles are not allowed on the roads unless they have valid insurance policies. The same should apply to foreign vehicles but if it is almost impossible to claim against their insurance policies, then, it is as good as being uninsured when they are in Singapore, isn't it? Then, they should not be allowed on our roads.

This reminds me of an accident here which I read in the papers some time ago involving a local female reporter. Her vehicle was the second last vehicle in a chain collision and the last vehicle was a van from Malaysia. She really suffered in the entire claim process which lasted months. I cannot remember clearly now but I think she had to bear all the cost in the chain collision as they could not track down the van from Malaysia.

These days, I always try to look on the brighter side of things. If I had not been able to brake in time, I would have been the second last vehicle in the chain collision and things would be more complicated now. I would have been in same situation as the female reporter mentioned earlier. So, I should count my blessings.

However, I am only human and cannot help but feel rather sad now...