Sold off MacqIntInfra (MIIF) at 0.425
alamak..looks like it is sky rocketing to 0.435 and above, 4,000+ Lots at 0.435 got eaten in less then 30mins
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Current Holdings
K-Reit - avg cost 1.157 - 95 lots
Global Investments - avg cost 0.224 - 295 lots
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What to do with the MIIF profit ?
Not sure what to do leh....buy more Global ? buy more k-reit ? im pretty sure k-reit will make acquisition of MBFC from kepland. Global Seems quite risky for short term trade because i cant predict the outcome of their SGM on 25nov
what about other companies...hmm... no idea yet, will post again next time....right now im going to take a tissue and cry everytime MIIF ticks up
Friday, November 20, 2009
Wednesday, November 18, 2009
Starhill Global Reit in S$571.3 mln acquisition plan
YTL Pacific Star, the Manager of Starhill Global REIT said on Wednesday that Starhill Global REIT plans to acquire David Jones Building in central Perth, Australia for A$114.5 million (about S$148.0 million) from Centro, a fully integrated real estate company based in Australia.
The company added that a heads of agreement has also been entered into with the trustee of Starhill REIT of Malaysia, to indirectly acquire Starhill REIT's interests in Starhill Gallery and Lot 10 Shopping Centre on Bukit Bintang, Kuala Lumpur's main shopping street, through an asset backed securitisation (ABS) structure, for a total of RM1,030 million (about S$423.3 million).
The proposed Australian acquisition is expected to be completed in January 2010 and will be funded by a combination of debt and proceeds raised from Starhill Global REIT's recent rights issue.
The acquisition is expected to be accretive to Starhill Global REIT's distribution per unit (DPU). The pro forma financial effect of the acquisition on the DPU for the financial year ended 31 December 2008 is an additional 0.22 Singapore cents per unit.
The company added that a heads of agreement has also been entered into with the trustee of Starhill REIT of Malaysia, to indirectly acquire Starhill REIT's interests in Starhill Gallery and Lot 10 Shopping Centre on Bukit Bintang, Kuala Lumpur's main shopping street, through an asset backed securitisation (ABS) structure, for a total of RM1,030 million (about S$423.3 million).
The proposed Australian acquisition is expected to be completed in January 2010 and will be funded by a combination of debt and proceeds raised from Starhill Global REIT's recent rights issue.
The acquisition is expected to be accretive to Starhill Global REIT's distribution per unit (DPU). The pro forma financial effect of the acquisition on the DPU for the financial year ended 31 December 2008 is an additional 0.22 Singapore cents per unit.
Some Singapore Stockmarket News - 18 Nov 2009
Olam buys another almond orchard in Australia for S$206 million, transaction expected to close in Jan 2010.
In september, olam bought its first almond orchard for A128 mil.
Olam expects the 2 orchards to yield a pre-tax profit of up to A$25mil this year and in the steady state(they still need afew years to reach full maturity), Olam expects them to contribute at least A$70 million pre-tax profit a year.
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Sinwa CEO is selling a 26%stake to China's Sinohit Offshore Engineering for 38cents to 54.48 cents per share ... actual price to be determined no later then June30 2010.
Sinohit offshore is a unit of the Sinohit Group, 1 of China's largest marine-related private groups..
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Singapore office space is 3rd most expensive in region and the fall in rental rates have slowed significantly according to a Colliers International Survey.
Q3 GRADE A CBD AREA
Average Gross rental dropped 6.4% to $6.31psf
Average occupancy rate dropped to 92.2%
Expectes furthur fall in rents as new major office buildings are completed this year and next year
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Starhill Global trading Halt
Possible new acquisition of Australian asset ?
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and thats all folks, thanks for reading my short summary of today's singapore stockmarket news
In september, olam bought its first almond orchard for A128 mil.
Olam expects the 2 orchards to yield a pre-tax profit of up to A$25mil this year and in the steady state(they still need afew years to reach full maturity), Olam expects them to contribute at least A$70 million pre-tax profit a year.
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Sinwa CEO is selling a 26%stake to China's Sinohit Offshore Engineering for 38cents to 54.48 cents per share ... actual price to be determined no later then June30 2010.
Sinohit offshore is a unit of the Sinohit Group, 1 of China's largest marine-related private groups..
-
Singapore office space is 3rd most expensive in region and the fall in rental rates have slowed significantly according to a Colliers International Survey.
Q3 GRADE A CBD AREA
Average Gross rental dropped 6.4% to $6.31psf
Average occupancy rate dropped to 92.2%
Expectes furthur fall in rents as new major office buildings are completed this year and next year
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Starhill Global trading Halt
Possible new acquisition of Australian asset ?
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and thats all folks, thanks for reading my short summary of today's singapore stockmarket news
Tuesday, November 17, 2009
Cambridge Industrial Trust (CIT)and MacarthurCook Industrial REIT (MI-REIT)
KEY POINTS, Modified for easier reading
CIT has just announced its plans for MI-REIT
MI-REIT investors are intended to benefit from the subordinated loan facility (a CIT asset), which will pay for the 1A IBP asset in full and discharge that MI-REIT liability.
With the 1A IBP out of the way, CITM expects to refinance the existing S$202 million MI-REIT debt expiring in December 2009 on substantially equivalent or better terms, now secured against circa S$533 million of unencumbered assets.
CITM expects that they can refinance the S$202 million debt on terms substantially equivalent to or better than those achieved by MIM under its current proposal
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CITM’s objective is to achieve a better outcome for MI-REIT unitholders than that offered under AIMS recapitalisation proposal.
CITM refers to the possibility of winding up MI-REIT merely to highlight that MI-REIT unitholders would be better off if that occurred rather than to support AIMS recapitalisation proposal.
*CITM is the manager for cambridge industrial trust
** I have re-written certain passages to cut out the legal jargon, full details and original announcement can be found in the link above
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Authors note: I find MI-REIT's re-financing plans to be somewhat.......funny. Also CIT does raise certain Alarming points in this announcement.
CIT recommends against MI-REIT's proposed re-financing
The alternative offered by CIT does SEEM to offer better value for MI-REIT's retail shareholders.
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Extra points
CIT holds 9.78% of MI-REIT
NAV of MI-REIT is $0.94 with 44.7% gearing
MI-REIT proposed to issue new shares to AIMS/AMP/Cornerstone investors at only $0.28. Huge 70% discount to current NAV !.
and some more 'areas of concern' that MI-REIT shareholders may want to know, just go to the announcement above 'CIT recommends against MI-REIT's proposed re-financing'.
CIT has just announced its plans for MI-REIT
MI-REIT investors are intended to benefit from the subordinated loan facility (a CIT asset), which will pay for the 1A IBP asset in full and discharge that MI-REIT liability.
With the 1A IBP out of the way, CITM expects to refinance the existing S$202 million MI-REIT debt expiring in December 2009 on substantially equivalent or better terms, now secured against circa S$533 million of unencumbered assets.
CITM expects that they can refinance the S$202 million debt on terms substantially equivalent to or better than those achieved by MIM under its current proposal
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CITM’s objective is to achieve a better outcome for MI-REIT unitholders than that offered under AIMS recapitalisation proposal.
CITM refers to the possibility of winding up MI-REIT merely to highlight that MI-REIT unitholders would be better off if that occurred rather than to support AIMS recapitalisation proposal.
*CITM is the manager for cambridge industrial trust
** I have re-written certain passages to cut out the legal jargon, full details and original announcement can be found in the link above
-
Authors note: I find MI-REIT's re-financing plans to be somewhat.......funny. Also CIT does raise certain Alarming points in this announcement.
CIT recommends against MI-REIT's proposed re-financing
The alternative offered by CIT does SEEM to offer better value for MI-REIT's retail shareholders.
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Extra points
CIT holds 9.78% of MI-REIT
NAV of MI-REIT is $0.94 with 44.7% gearing
MI-REIT proposed to issue new shares to AIMS/AMP/Cornerstone investors at only $0.28. Huge 70% discount to current NAV !.
and some more 'areas of concern' that MI-REIT shareholders may want to know, just go to the announcement above 'CIT recommends against MI-REIT's proposed re-financing'.
Monday, November 16, 2009
Buying up more Global investment
Going to take Some profit from Macquire Int Infra and shift the money into Global Investments !
Waited the whole of last week to sell off Macquire at 0.410, until it looks like i have missed the chance to buy global at 0.230 last week. Price of GIL now...$0.255. I believe it can reach 0.290 before the shareholder fight on 25 nov
Waited the whole of last week to sell off Macquire at 0.410, until it looks like i have missed the chance to buy global at 0.230 last week. Price of GIL now...$0.255. I believe it can reach 0.290 before the shareholder fight on 25 nov
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