tag:blogger.com,1999:blog-7944902213075756335.post5912883104533165682..comments2024-03-28T23:00:40.055+08:00Comments on A Singaporean Stocks Investor (ASSI): LMIR: 1Q 2014 DPU 0.68c.AK71http://www.blogger.com/profile/16832145412062954289noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-7944902213075756335.post-59928520724789559692014-07-11T22:25:34.757+08:002014-07-11T22:25:34.757+08:00An increase in the Fed funds rate would make US as...An increase in the Fed funds rate would make US assets more attractive, a situation that would trigger capital outflows and increase global demand for dollars, which could hurt currencies in emerging economies, including Indonesia. <br /><br />On the domestic side, bearish sentiment surrounding the rupiah is also stoked by the likelihood that Indonesia will see only minor improvement in its AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-49008155016142800782014-07-11T22:23:01.713+08:002014-07-11T22:23:01.713+08:00The Singapore dollar has been gaining ground in re...The Singapore dollar has been gaining ground in recent week, pushing below S$1.25 to the US dollar and hitting eight-month highs.<br /><br />Currency analysts say they expect the central bank to keep its monetary policy despite expectations of a hike in US interest rates.<br /><br />Meanwhile, the Singapore dollar has been holding up against other regional currencies even as some of them AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-40436967601497364472014-05-06T22:53:37.651+08:002014-05-06T22:53:37.651+08:00Hi JLee,
Sounds like you might want to send the I...Hi JLee,<br /><br />Sounds like you might want to send the IR department an email to clear things up. Please share with us your findings. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-14375325984633636472014-05-06T22:46:20.875+08:002014-05-06T22:46:20.875+08:00one thing that puzzle me is the interest expense i...one thing that puzzle me is the interest expense is higher even though they have less debt to pay. their reason is that it is due to medium term note issued in Oct 2013. <br /><br />Overall debt compared to Q1 2013 is down as well.JLeehttps://www.blogger.com/profile/17197296975613253335noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-66225281665741861912014-05-06T20:40:22.261+08:002014-05-06T20:40:22.261+08:00Hi JJ,
Well, we have to compare apples with apple...Hi JJ,<br /><br />Well, we have to compare apples with apples. <br /><br />REITs distribute 90% to 100% of their cash flow to unit holders. In so doing, if LMIR is only able to provide a distribution yield of 6+%, I think it is hardly attractive, especially taking into consideration that part of the distribution is a return of capital. There are stocks which are able to provide that kind of yieldAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-38294832054084996362014-05-06T19:13:10.280+08:002014-05-06T19:13:10.280+08:00Hi AK,
If you compare with some defensive stocks ...Hi AK,<br /><br />If you compare with some defensive stocks at 4-5% or fixed deposit at 1.1-1.4% or structured deposits at around 2%, around 6+-7% yield still give a decent buffer. <br /><br />The market already factored in the tapering and increased in rates in last year REITs and emerging markets currencies bloodbath. <br /><br />The interest rates for the loans are already fixed, just that theAnonymoushttps://www.blogger.com/profile/09285327778089087554noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-91246577935047966362014-05-06T17:17:58.701+08:002014-05-06T17:17:58.701+08:00Hi JJ,
Well, I rather not take a gamble.
If the ...Hi JJ,<br /><br />Well, I rather not take a gamble.<br /><br />If the Rupiah should decline further in value, then, gearing level could go up as property values would also decline in S$ terms. The discount to NAV would also narrow. Can we be sure that the Rupiah will not weaken further?<br /><br />With the US tapering on QE going on and a possibly higher interest rate environment in the US come AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-317937431525554332014-05-06T16:44:06.394+08:002014-05-06T16:44:06.394+08:00Hi AK,
LMIR can only become attractive again if t...Hi AK,<br /><br />LMIR can only become attractive again if the Rupiah appreciates meaningfully. I agree with you on this, but by then it might not be the best time to enter.<br /><br />On gearing ratio and margin of safety, the gearing ratio has dropped to 26.7% and its currently priced at a discount to NAV. If the discount is too huge, what will usually happen is the main shareholder will try toAnonymoushttps://www.blogger.com/profile/09285327778089087554noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-44177627549908159612014-05-06T13:20:31.156+08:002014-05-06T13:20:31.156+08:00Hi Mike,
Although I sold a large chunk of my inve...Hi Mike,<br /><br />Although I sold a large chunk of my investment in LMIR early last year, I am still very much invested in the REIT. So, I am on the same ship.<br /><br />For sure, it is not sinking, just somewhat damaged and sailing at a much slower speed. ;pAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-72880397419270701032014-05-06T11:01:28.243+08:002014-05-06T11:01:28.243+08:00Hi AK,
I think Lippo did ok given that rental gua...Hi AK,<br /><br />I think Lippo did ok given that rental guarantee for the biggest mall/ flop oops :p is over, but did not make a big dent to gross rent. It's about 2 million per quarter, think occupancy has improve further now. <br /><br />But u are right, with sub7 yield, not difficult to find alternatives. But as least I dun feel like I am on sinking ship. Anonymousnoreply@blogger.com