tag:blogger.com,1999:blog-7944902213075756335.post3808594759472220834..comments2024-03-28T23:00:40.055+08:00Comments on A Singaporean Stocks Investor (ASSI): Perennial China Retail Trust: Weak debut?AK71http://www.blogger.com/profile/16832145412062954289noreply@blogger.comBlogger28125tag:blogger.com,1999:blog-7944902213075756335.post-69816044497925550312013-01-09T14:19:26.132+08:002013-01-09T14:19:26.132+08:00Hi Elaine,
Indeed, they don't make walls like...Hi Elaine,<br /><br />Indeed, they don't make walls like they used to. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-85356377123745332312013-01-09T14:14:22.577+08:002013-01-09T14:14:22.577+08:00And I am just eavesdropping....
:-)And I am just eavesdropping.... <br />:-)Elainehttps://www.blogger.com/profile/08652894159077859434noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-8417359563560542832013-01-09T14:02:14.686+08:002013-01-09T14:02:14.686+08:00Hi Elaine,
I think anyone who is just starting co...Hi Elaine,<br /><br />I think anyone who is just starting could be quite pleased to have annual passive income of >$12K. That means an extra $1+K per month in income. That is nothing to snort at. Congratulations. :)<br /><br />I will have to say again that I am not providing any advice here in my blog. I am not allowed to do so. I am merely sharing my little ideas and, most of the time, I am AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-83952910203546809902013-01-09T13:55:34.121+08:002013-01-09T13:55:34.121+08:00thanks AK, for your super quick response!
I have...thanks AK, for your super quick response! <br /><br />I have been reading your blog for a while, and have been building up my portfolio of reits. <br /><br />I received my 2012 SGX statement yesterday... and was a little sad to see my annual dividend at 10% plus of yours :-(<br /><br />I aim to double it in 2013!!! Need all the wisdom and advice from you ... so pls pls continue to blog! Elainehttps://www.blogger.com/profile/08652894159077859434noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-69780855570972318332013-01-09T13:45:41.168+08:002013-01-09T13:45:41.168+08:00Hi Elaine (aka EK),
I believe that there is nothi...Hi Elaine (aka EK),<br /><br />I believe that there is nothing wrong with taking some profit off the table after a nice run up in price. :)<br /><br />Could we see price going higher? 65c? Possibly. What if it doesn't? Can't go wrong if we hedge, can we? ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-51158633366993903632013-01-09T13:39:14.496+08:002013-01-09T13:39:14.496+08:00Hi AK
Thank you for all your wise advice!!
I bo...Hi AK<br /><br />Thank you for all your wise advice!! <br /><br />I bought a small amout of Perennial after reading your blog, and is happy to see it moving up steadily. <br /><br />Today is q little more exciting tho - it is up 5%. <br /><br />current px is now higher than fair value of $0.59 (CIMB). <br /><br />Time to take profit?? <br /><br />EK (not trying to be funny)Elainehttps://www.blogger.com/profile/08652894159077859434noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-65761700179185882992012-12-17T23:02:55.430+08:002012-12-17T23:02:55.430+08:00DBS Vickers tips remaining invested in stocks whic...DBS Vickers tips remaining invested in stocks which may benefit from a recovery in China’s economy.<br /> <br />“The Chinese economy has probably bottomed in 3Q12,” it says, with the house forecasting growth to return to 9%. “China’s acceleration in fixed asset investment will certainly be able to help lift global growth, and urbanisation is the new strategy to spearhead investment.”<br /><br />AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-44947359319966958592012-11-06T21:45:47.876+08:002012-11-06T21:45:47.876+08:00Underlying operational performance
saw a second qu...<i>Underlying operational performance<br />saw a second quarter of pick-up with profits from operational malls<br />growing 6% qoq. While 4Q12 could be<br />slower due to leasing difficulties in winter, we should see further strength in 1Q13. 60% of NLA at Shenyang furniture mall has been converted to a master lease for income stability while further leasing progress has been made at the upcomingAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-48869905518474226822012-11-06T15:27:27.181+08:002012-11-06T15:27:27.181+08:00Perennial China Retail Trust (PCRT) said its distr...<i>Perennial China Retail Trust (PCRT) said its distribution per unit (DPU) for the third quarter ended Sept 30, 2012 was at 0.97 cent. On an annualised basis, the available DPU was at 3.86 cents.<br /> <br />Distributable income was $10.68 million, above PCRT’s forecast.<br /> <br />The conversion of Shenyang Red Star Macalline furniture operator to master lease helped enhance its income AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-67367110663071063942012-10-09T19:19:22.190+08:002012-10-09T19:19:22.190+08:00China is set to become the world's second bigg...<i>China is set to become the world's second biggest market for luxury goods after the United States in five years, overtaking France, Britain, Italy and Japan, an industry report said Tuesday.</i><br /><br />AFPAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-12457982070705564732012-10-01T21:49:21.033+08:002012-10-01T21:49:21.033+08:00Perennial China Retail Trust (PCRT) said said it h...<i>Perennial China Retail Trust (PCRT) said said it has entered into a joint venture with a consortium of investors to develop an integrated development in Beijing’s new CBD called Tongzhou District.<br /> <br />Wholly-owned subsidiary Perennial China Retail (PCR), which signed the deal, will invest $50.32 million in the JV for a 10% stake.<br /> <br />The consortium together holds a 70% stake inAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-25752418731284331952012-09-12T17:15:51.456+08:002012-09-12T17:15:51.456+08:00Hi Coven,
With unit price trading at such a hefty...Hi Coven,<br /><br />With unit price trading at such a hefty discount to NAV/unit, it is probably cheaper for the trust to tap the debt market for funding.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-79065630474962446932012-09-12T15:13:20.289+08:002012-09-12T15:13:20.289+08:00Hi AK
any thoughts on the 6.375% yield notes that...Hi AK<br /><br />any thoughts on the 6.375% yield notes that was launched for PRCT ?<br /><br />Isn't it expensive for PRCT to pay such expensive rates for $130 million?<br /><br />Thanks, Covencovenhttps://www.blogger.com/profile/13272583004672838705noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-29336204886717866332012-09-06T14:37:30.327+08:002012-09-06T14:37:30.327+08:00Hi coven,
Until the malls are operational and gen...Hi coven,<br /><br />Until the malls are operational and generating income, the risks are higher. So, a higher distribution yield which means a lower unit price is necessary for a bigger margin of safety.<br /><br />For anyone with an investment horizon of 3 years or more, Perennial China Retail Trust at the current price looks like a promising investment.<br /><br />The Trust enters into earnoutAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-13121785210551712012-09-06T13:28:18.403+08:002012-09-06T13:28:18.403+08:00Hi AK
are u familiar with the earn-out funds whic...Hi AK<br /><br />are u familiar with the earn-out funds which is used for its dividend payouts ?<br /><br />Thanks :)covenhttps://www.blogger.com/profile/13272583004672838705noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-25067197612266631582012-09-06T13:06:31.537+08:002012-09-06T13:06:31.537+08:00agree AK
with all 4 govt permits and mall constru...agree AK<br /><br />with all 4 govt permits and mall constructions in full-steam ahead, it seems the highest risk has been eliminated<br /><br />coupled with big names of Wilmar CEO and COO, this looks interesting in the mid-long term :)covenhttps://www.blogger.com/profile/13272583004672838705noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-64318984727654149892012-09-05T15:43:22.920+08:002012-09-05T15:43:22.920+08:00Hi coven,
China will grow and domestic consumptio...Hi coven,<br /><br />China will grow and domestic consumption will grow. Compared to Indonesia which sees domestic consumption making up 60% of its GDP, China has a long way to go. If we think that Indonesia is underserved by shopping centres, so is China.<br /><br />I didn't invest in PCRT last year because its unit price was too high. Now, at 33% lower, there is a margin of safety which I AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-14087250786203253272012-09-05T15:07:46.395+08:002012-09-05T15:07:46.395+08:00Thanks AK for the reply
at 8% yield for Perennial...Thanks AK for the reply<br /><br />at 8% yield for Perennial, wouldn't that be similar to AscendasHospTrust? <br /><br />With the chinese economy slowing and no large stimulus seen yet, it seems u are still bullish on china retail :)<br /><br />My guess is that china has a growing middle class, hence retail spending would still be able to sustain. 7-8% GDP growth is still a healthy number<brcovenhttps://www.blogger.com/profile/13272583004672838705noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-42214445890353835892012-09-05T08:09:41.457+08:002012-09-05T08:09:41.457+08:00Hi coven,
I initiated a smallish long position at...Hi coven,<br /><br />I initiated a smallish long position at 47.5c last week. :)<br /><br />Current distribution yield is about 8%. This is acceptable especially when the Trust could reduce its income distribution by half in 2013 which means a reduced yield of 4%.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-39377632202662762332012-09-05T01:32:06.898+08:002012-09-05T01:32:06.898+08:00Hi AK
are u current vested in PRCT ?
Looks like ...Hi AK<br /><br />are u current vested in PRCT ?<br /><br />Looks like the price is getting low enough for u to get a reasonable yield :)covenhttps://www.blogger.com/profile/13272583004672838705noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-65330886283615361862012-08-30T16:48:03.598+08:002012-08-30T16:48:03.598+08:00Perennial China Retail Trust's roadshow on 23 ...Perennial China Retail Trust's roadshow on 23 August 2012:<br /><a href="http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_EE3B436A64C8CFFC48257A630057185F/$file/FinalNDRSlides23Aug2012.pdf?openelement" rel="nofollow">Slides presentation.</a>AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-59394125127818016542012-08-30T16:33:07.604+08:002012-08-30T16:33:07.604+08:00Maintain Buy with RNAV-backed TP of S$0.83. We see...<i>Maintain Buy with RNAV-backed TP of S$0.83. We see FY13 as the earnings inflexion point with new contributions from the Foshan development. As operational ramp up improves, we expect the stock to close the gap between share price and RNAV. The stock is trading close to implied replacement cost for its initial portfolio.</i><br /><br /><br /><a href="http://www.remisiers.org/cms_images/researchAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-84036717294837054372011-06-23T23:43:53.195+08:002011-06-23T23:43:53.195+08:00Hi Meng,
Thank you for sharing your point of view...Hi Meng,<br /><br />Thank you for sharing your point of view. I agree that investing in PCRT is a high risk proposition. This is why I would demand a higher distribution yield (which would mean a lower unit price at this point in time) before I would consider investing in it. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-21066798591244453422011-06-23T17:05:36.038+08:002011-06-23T17:05:36.038+08:00the biggest risk to PRCT right now is that 2 of th...the biggest risk to PRCT right now is that 2 of the properties mentioned in its prospectus have yet to obtain the necessary permits to for land rights use, planning and construction. <br /><br />Now do bear in mind this is against the back drop of tightening credit and a central govt getting increasingly aggressive in reining in runaway property prices<br /><br />Though one would expect such Mengnoreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-15022045682035701842011-06-10T11:03:44.338+08:002011-06-10T11:03:44.338+08:00Hi Paul,
Yes, I know they are different and I hav...Hi Paul,<br /><br />Yes, I know they are different and I have discussed with Nick earlier my motivation for making the comparison the way I did but thanks for the reminder. :)<br /><br />From the perspective of investing for income, a primary consideration is distribution yield which is why I made a liberal comparison with CapitaRetail China Trust. <br /><br />Of course, we want to bear in mind AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.com