tag:blogger.com,1999:blog-7944902213075756335.post8911472692449136536..comments2024-03-29T10:22:24.187+08:00Comments on A Singaporean Stocks Investor (ASSI): Saizen REIT: A retest of resistance at 18c?AK71http://www.blogger.com/profile/16832145412062954289noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-7944902213075756335.post-48742582161109139222012-10-22T14:29:31.134+08:002012-10-22T14:29:31.134+08:00Hi JCK,
The REIT was selling some of its building...Hi JCK,<br /><br />The REIT was selling some of its buildings when YK Shintoku's CMBS was still unresolved. In those days, it was revealed that the NPI yields of the buildings sold were all in excess of 10%. I remember a case which had a NPI yield of 13%. So, yes, if someone were to take the REIT private, they could make a lot more money with much higher returns.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-47403745392339446502012-10-22T08:29:58.248+08:002012-10-22T08:29:58.248+08:00IF NAV is high, and DPU is low....i guess it just ...IF NAV is high, and DPU is low....i guess it just mean that the ROI will be low in entry into the REIT.<br /><br />SO if an investor wants to buyout the company, he certainly will not be investing for the REIT effect but to cannibalise the assets to open up their values for SALE.<br /><br />Just simple thinking.<br />Of course he can re manage the DEBT based on the NAV, but NOt on equity. <br />JCKhttps://www.blogger.com/profile/06827990903393175122noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-14885421765631073542012-10-21T22:00:41.285+08:002012-10-21T22:00:41.285+08:00Hi Ah John,
I cannot honestly say I know why Saiz...Hi Ah John,<br /><br />I cannot honestly say I know why Saizen REIT is trading at such a huge discount to NAV although I could make a few guesses. ;)<br /><br />What matters more to me is to know what to do in such instances. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-43119965816059714382012-10-21T21:58:02.054+08:002012-10-21T21:58:02.054+08:00Hi Ah John,
Yes, the NAV is based on the latest v...Hi Ah John,<br /><br />Yes, the NAV is based on the latest valuations. <br /><br />I have said before that Saizen REIT is a bargain. It still is.<br /><br />Could some deep pocketed investors notice it in future and offer to delist it? Your guess is as good as mine. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-76500016171585063032012-10-21T21:34:05.067+08:002012-10-21T21:34:05.067+08:00Hi AK, btw, how come Saizen got so low P/B? Even J...Hi AK, btw, how come Saizen got so low P/B? Even Japan perspective is not so good, but 40% value cut is impossible in near term.Ah Johnhttps://www.blogger.com/profile/08143011578144039532noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-88880160611927284472012-10-21T11:16:31.935+08:002012-10-21T11:16:31.935+08:00Interesting, is NAV adjusted to market value? If s...Interesting, is NAV adjusted to market value? If so, why nobody buy out and delist it?Ah Johnhttps://www.blogger.com/profile/08143011578144039532noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-34741411437162023212012-10-20T23:35:59.556+08:002012-10-20T23:35:59.556+08:00Hi Ah John,
Yes, thereabouts. :)Hi Ah John,<br /><br />Yes, thereabouts. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-22686957561384341602012-10-20T16:39:19.635+08:002012-10-20T16:39:19.635+08:00Hi AK, Saizen NAV is 0.30?Hi AK, Saizen NAV is 0.30?Ah Johnhttps://www.blogger.com/profile/08143011578144039532noreply@blogger.com