Accordia Golf Trust: 6.8% to 7% distribution yield.

A new business trust is set to list in Singapore and it owns golf courses in Japan. The IPO is expected to price the units between 97c to $1.00 each and distribution yield is going to be between 6.8% to 7%.

I have not looked at the prospectus but I tried to understand how the manager is compensated. It is frankly quite complicated to me. It isn't as straightforward as a trust involving real estate. See if you understand it: Golf Course Management Agreement (page 3).

I also looked at some published figures and I am not sure that the assets are doing very well:



Click to enlarge.

I would draw attention to "net income per share" and "dividend per share". Interesting, isn't it?

See: financial highlights.

Could Accordia Golf Trust see a meteoric rise in unit price like Croesus Retail Trust did during its IPO? Your guess is as good as mine. However, I know that I will be giving the IPO a miss.

Read article:
Accordia Golf Trust to list on SGX.

Related post:
High yielding business trusts: A discussion.

Think we can't save $400,000?

Over the weekend, a friend told me that he found it very hard to believe that a 74 year old cleaner lady could have saved $400,000 in the last 60 years. Well, I don't find it hard to believe and I told him so. 60 years is a long time. It is all about working hard, being frugal and religiously saving the difference, in my opinion.

"For 60 years, Madam Goh Kah Keow, 74, lived a frugal life and managed to save more than $400,000 in cash and jewellery." The New Paper.

Anyway, a quick lunch time blog post:

Been a long time since I had a bowl! $1.10 only!

After waiting for a few minutes. Mouth watering!



My lunch! Sedap!

Burp!
I used to drink this all up in my younger days. Now, I throw it away.

Some people in the past wondered how I could build up my savings so quickly too sometimes.

Related posts:
1. An essential habit to becoming richer.
2. Don't see money, won't spend money.
3. Seven money habits of AK71's.
"I am always attracted to posts that talk about money-saving techniques because successful saving provides a guaranteed return as opposed to investing which is risky by nature." HYOM, 7 Oct 2012.