Another REIT for your consideration soon. :)
KUALA LUMPUR: SUNWAY CITY BHD group is undertaking a corporate exercise to unlock the value of its PROPERTIES which will see it injecting its shopping malls, office towers, hotels and hypermarket into its proposed multi-billion ringgit Sunway real estate investment trust (REIT) which will be listed on Bursa Malaysia.
SunCity Group said on Wednesday, April 7 the proposed properties include the Sunway Pyramid shopping mall; 19-storey, five-star Sunway Resort Hotel & Spa; nine-storey Pyramid Tower Hotel; the Menara Sunway office tower block; five-storey Sunway Carnival Mall in Penang; 17-storey Sunway Hotel Seberang Jaya, SunCity Ipoh Hypermarket and the 33-storey Sunway Tower.
The corporate exercise also includes Sunway City disposing of three parcels of leasehold land, measuring 19,406 sq metres in Selangor, to its subsidiary -- Sunway Pyramid Sdn Bhd (SPSB). Sunway City owns a 52% stake of SPSB while the other 48% stake is held by Reco Pyramid Sdn Bhd. The princiapl activity of SPSB is operating a shopping mall.
Sunway City has also proposed to acquire 48 million shares or 48% of SPSB from Reco Pyramid (M) Sdn Bhd (RPSB) and 9.6 million shares or 48% stake in Sunway Resort Hotel Sdn Bhd (SRH) from Reco Resort Hotel (M) Sdn Bhd (RRHSB).
Sunway City said the Sunway REIT's investment objectives is to provide the unitholders with an exposure to a diversified portfolio of authorised investments that will provide stable cash distributions with the potential for sustainable growth of the net asset value per unit.
"Subject to the approvals of the relevant authorities, Sunway REIT proposes to undertake a public issue of units in Sunway REIT and subsequent listing of and quotation for its entire issued and paid-up units on the Main Market of Bursa Malaysia Securities Bhd," it said.
Sunway City said the proposed disposal of SCB land and properties will allow the group to realise their investments in the properties.
The proceeds from the proposed disposal of SCB land and the proposed disposal of properties will be used to acquire land bank, working capital, future business expansion and to repay the group's borrowings.
It added the disposal of the land and properties will also enable the group to enhance the development of the real estate investment market in Malaysia through its proposed holdings in the units in Sunway REIT as well as its involvement in the management of Sunway REIT upon the completion of the proposed listing.
Sunway City said upon disposal of properties to Sunway REIT, RPSB and RRHSB would sell their 48% stake in SPSB and SRH to Sunway City. Sunway City also agreed to acquire their 48% stakes.
This would then see SPSB continueing to operate Sunway Pyramid Shopping Mall as a premier shopping mall with ice rink and bowling facilities. SRH, which will enter into a hotel master lease with Sunway REIT, will continue to operate Sunway Resort Hotel & Spa and Pyramid Tower Hotel.
10 comments:
Selling P.I.E at 4.48-4.50 now; realize $$$$$$$$$$$$$$$$
wah, damn bloody nice man. hng, after the proposed annoucement you don't hold for the dividend?
Realize more than 10% net profit first, free up more margin line now as there is other stock in the midst of accumulation.
Portfolio today record highest ever one time profit on P.I.E, sold off all at 4.45-4.50; recording highest net profit margin of more than 11%, booster total capital in portfolio increase by another 6.6%. But, by the time portfolio realize paper profit on pharma, these record will upgrade again :)
I've channel margin line to increase stake in CCM Duopharma (2.40); Yilai (78.5-79sen) and TH plantation (1.56)
Update portfolio + ultramargin line
1. Pharma 63.7% (cost: RM 4.30)
3. Keladi 44.5% (cost: 15.7sen)
4. Tomei 30% (cost 55 sen)
5. CCM Duopharma 26% (cost 2.39)
6. Yilai 25.6% (cost 77.5sen)
7. TH plantation 15% (cost 1.56)
8. Bonia 12.3% (cost 1.05)
9. UPA 8.2% (cost 1.40)
10.Cresbld 4.9% (cost 73sen)
Second portfolio + margin line
1. TH Plantation 205% (cost: 1.52)
2. Keladi 28.2% (cost: 16.2sen)
3. Chuan 16.2% (cost 60.5sen
Congrat hng. :)
Hope all can make big $$$ in this rally. :)
horse
My KPI for 2010 is total ROI at least 50%, that is increment of my total capital by another 50% for 2010.
These KPI is much lower than 2009, which portfolio have realize more than 300%. But due to limited upside potential for KLCI in 2010, increment by 50% of total capital should be more reasonable.
Hopefully, my KPI for 2010 can be achieve :), portfolio has so far realize 15% total capital increment.
now we are only enter to Apr 2010, so to achieve another 35% should not be any problem for you. Since,
most of your counters already started to make profit.
All the best. :)
horse
I'm certainly hope so, wish my capital can achieve positive growth consistently for another next 5yr. By then, i should be able to be truly reach financial freedom status (debt free + net positive cash flow from dividend + rental income).
Today, bought TH plant at 1.56. Portfolio have further increase stake holding on TH Plant, raising its weighting to top 3 holding in the portfolio.
Update portfolio + ultramargin line
1. Pharma 63.7% (cost: RM 4.30)
3. Keladi 44.5% (cost: 15.7sen)
4. TH plantation 34% (cost: 1.56)
5. Tomei 30% (cost 55 sen)
6. CCM Duopharma 26% (cost 2.39)
7. Yilai 25.6% (cost 77.5sen)
8. Bonia 12.3% (cost 1.05)
9. UPA 8.2% (cost 1.40)
10.Cresbld 4.9% (cost 73sen)
Second portfolio + margin line
1. TH Plantation 205% (cost: 1.52)
2. Keladi 28.2% (cost: 16.2sen)
3. Chuan 16.2% (cost 60.5sen
all,
have a nice weekend. :)
Next week should be another good week. :)
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