Posts
| Nick @ Home: Treasury China Trust is an interesting company to ride the property boom in China. I must study it more | |||||
| Nick @ Home: Trading at 70% discount to its NAV...... | |||||
| AK71 @ home: 70% discount to NAV?! | |||||
| Nick @ Home: Yea...despite owning 3 high quality assets | |||||
| AK71 @ home: what's the gearing? | |||||
| Nick @ Home: 35% | |||||
| Nick @ Home: Debt: S$658 million. Asset: $1.94 billion | |||||
| AK71 @ home: debt profile? | |||||
| Nick @ Home: Debts was recently refinanced...mature in 2015 | |||||
| Nick @ Home: Interest expense will be halved | |||||
| AK71 @ home: hmmm... nice yield? | |||||
| Nick @ Home: DPU forecast is $0.05. They will use equity (profits earned from property sales last year) to fund dividend payout near term. Once their development projects come online, they expect cash-flow to triple. | |||||
| Nick @ Home: From now to 2012, dividend payout ratio will be 80% after which it will drop to 50% to fund more development projects | |||||
| AK71 @ home: very promising... sounds tempting | |||||
| Nick @ Home: This year yield will be around 3%...I guess with the rising rentals and lower interest expense, DPU can rise in 2011....in 2012, its development projects come online and DPU should increase significantly | |||||
| Nick @ Home: But being a development trust, it has a growth element inside unlike a REIT | |||||
| Nick @ Home: So its yield won't be high but it more growth potential since they can build and sell assets to other REITs haha | |||||
| AK71 @ home: huge interest in the last 2 sessions | |||||
| Nick @ Home: Yea...they announced that they renew their lease at over 8% higher rates | |||||
| AK71 @ home: short term overbought but very strong momentum... | |||||
AK71 @ home: $1.60 is resistance turned support... can consider Nick @ Home: http://www.treasurychinatrust.com/ | |||||
| Nick @ Home: JP Morgan gave a very bullish report on 16 August | |||||
| Nick @ Home: available in the tct website JP Morgan's report at this link: http://www.treasurychinatrust.com/Pics/httpmarklogic-b.jpmchase.net8005GPS-434739-0.pdf |
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