Monday, July 8, 2013

M-REIT Data DY


1. I use to get REITs from 10% - 12% in term of DY those day. Now it has shrunk to just 7%. :( Is REITs getting expensive nowaday ? I believe it is, if compare the REIT data 4 years back. Nevertheless, 7% is still consider attractive comparatively with current interest rate. Of all the REITs only AXREIT is aggrasively adding new properties enchancing shareholders value. The rest more or less status quo or adding just one/two... Are we coming to a saturated point ?
 
2. Watch List - KPS, PUNCAK, KHSB
 
3. Good Luck.

47 comments:

ck5354 said...

mana semua orang???

Preparing for puasa?

lg said...

here

lg said...

market not moving...everyone waiting for action..??

Teng said...

Msia market now boring. Anyone consider Spore or even regional stocks?

lg said...

Teng,
I wish to but don't know have much knowledge about these markets :(

alwayswin111 said...

Hng, Horse, Cheeheng
I think we should look at MEGB if it supports around this level... 055... your opinion please

cheeheng said...

alwayswin111

if it can stabilize around 0.55 then maybe it can zoom past 0.60...I hope :)

cheeheng said...

Teng

I've previously bought First Reit at S0.70 on SGX but sold off at S0.90 sen. Now it is around S1.20.Regret :(

Teng said...

CheeHeng

Good profit of nearly 30%

ck5354 said...

Hng,

What is your target price for KPS?

hng said...

Both Puncak and KPS share price have just awaken from prolong outstanding water restructuring issue. It has been 5 year from 2008, that both share price were downtrend. Only now, 2013, and after GE 13 that water restructuring become urgency to be resolve as soon as possible due to langat 2 construction water treatment plant, to transfer raw water from Pahang to Selanagor. It must and have to resolve it now, both Puncak and KPS still have long journey to reflect their true value.

hng said...

Both state and Fed gov must accommodate and compromise with some term and condition in order to reach the final deal, must give and take and some compensation to sweetener the deal. There is urgency now to build langat 2 water plant, issue must be solve soon or later. Just wait patiently for next 2 month to see the progress.

New Langat 2 water treatment plant; replacement water pipe distribution throughout selangor,Putrajaya and Indah water concessionaire, oil and gas contract are part of the sweetener to be add as compensation to make the deal seal.

alwayswin111 said...

CheeHeng
Guess what? I was too greedy.On Monday (08jul) bought more MEGB on gap up at 0.555..Went up to 0.62 intraday but did not sell.. as I was targeting 0.80... there is a immediate resistance at 0.62.. should have sold at least half...
This morning missed Padini when it went up to 2.05....

cheeheng said...

bought KPS @ 1.83-1.84.

lg said...

wah timecom today..anyone bought?

Teng said...

LG

Timecom was upgraded by Maybank IB. Nice show today

lg said...

Teng,
Thanks. Might be a one day show only

Teng said...

LG

Not even one day show. Now TimeTDC already under profit selling

lg said...

traders are now very cautious to hold. if up will sell first 'coz of market uncertainty.

lg said...

kps suddenly is falling now...good time to buy or wait further?

horse said...

If KPS dip further tomorrow, think can buy in some. i parked some at 1.74. ^^

horse said...

QCAP & SUNREIT DPU should be this week.

CMMT, ATRIUM & UOAREIT DPU probably next week.

horse said...

TWRREIT & AXREIT DPU a week after next.

hng said...

State assembly must pass the increase budget to take over KHSB from KPS and later privatize KHSB. Once budget pass, KPS will issue notice of EGM to shareholder and seek approval for disposal and special dividend

hng said...

Bought more KPS at 1.76-1.77

alwayswin111 said...

cheeheng
what do you think of KSENG?

hng said...

Despite recent run up in KPS and Puncak share price, i still both of these water theme stock still have yet to reach their fair value. There is only one materialize deal in KPS to unlock its investment gain in KHSB and pending special dividend to reward shareholder. The major unlocking assets: 91% stake in ABbass + 30% stake in Splash for KPS; 100% in PNSB + 70% in Syabas for Puncak still pending to reach final deal in next 2 month. It is therefore if can hold stock for at least 3 month, return of 30-50% can still expected

lg said...

after last week's high activity of kps & puncak activity..the quietness in the market now feels so...unnerving!

cheeheng said...

alwayswin111

From what I know and I know very little about Kseng.This I copy elsewhere and paste here.

Keck Seng is an asset play. It's NTA is RM5.10 made out by RM3.46 of hard cash. Besides other valuable assets which book values of 65 sen per share is much lower than the current value such as land held under development and investment properties. Hey, I have not talked about its property, plant and equipment, Property development costs, inventories, receivables etc of about 800m yet. Whereas its total liabilities is only 108m. It is definitely a Graham net-net counter. Besides it has a profitable palm oil manufacturing work and plantation, property development, hotels etc and other business which are doing quite ok with positive free cash flows. It has about RM1.00 per share dividend which is tax imputable and has to be given out by this year. It seems it won't go wrong investing in this stock at current price now. You don't have to follow me.It paid only 6 sens final div. instead of 1.00 A lot of assets no use also, no interest of minority shareholders taken into account.

Teng said...

Cheeheng

Much has been said about Keck Seng's NTA. Most of its assets,land/property has not been revalued for past 10-35 years.Most significant undervalue assets are ~8,000 acres of oil palm land in Ulu Tiram ( book value RM25million last value 1980).Cuurent value is min RM300mil.Also Menara Keck Seng in Golden Triangle with book value RM56mil

Keck Seng also hold many stocks listed in Msia/Spore stock exchange( Chin Teck,Wilmar etc)

I still hold some Keck Seng.Some bought before bonus issue( 1 bonus for every two share held).My cost is probably 3+ but I am not selling

cheeheng said...

Teng

I wouldn't sell it either if I got at 3+ but at 5+ ,nah...I buy something else like MNRB which I just bought@3.45.

alwayswin111 said...

Teng, Cheeheng
Thanks for info... Kseng technically looks like an inverted H&S to me...
I have some... maybe wait and see
Haha... my MEGB at 0.555 now stuck... but quite comfortable that it will scale higher

alwayswin111 said...

Teng
I still have Parkson ... didn't sell at 4.00... 3.75 looks pretty strong support and looks like bottoming. Hope I am right???

Teng said...

Alwayswin111

I sold all Parkson at 3.82-3.85,and only see it hit 4

Parkson very much depend on their China operations.

horse said...

Bought KPS @ 1.74.

lg said...

What do you guys think of umcca?
Noticed aberdeen keep buying.

cheeheng said...

bought more KPS @ 1.72

alwayswin111 said...

Cheeheng
congrats... your hupseng up 20cents

hng said...

Bought again KPS at 1.66

hng said...

Sold back at 1.68, realize quick intraday gain first

hng said...

Bought back some KPS again at 1.66

Teng said...

Follow Hng to buy KPS at 1.67.

But Hng is fast to make intra gains by selling 1.68.

Teng said...

Wanted to sell KPS at 170 but only 900 shares done. Not enough to pay fee

hng said...

Bought new stock: Kfima at 2.04

alwayswin111 said...

Hng
I also bought Kfima today...

hng said...

There is urgency now to resolve Langat2 water plant. It involve transfer of raw water from Pahang to Selangor through tunnel and multibillion already spent to build facility in Pahang portion. With 80% completion of it, it must start its Selangor portion as soon as possible to connect the tunnel.

State gov wish is to gather all water treatment plant under its umbrella, including these langat 2 together with exiting plant under Splash + Puncak Niaga + Abbass. These upstream will then will consolidate with downstream operator (Syabas) in order to streamline the whole water distribution.

Whereas, Fed gov wanna to separate the deal and emphasize just on langat 2 construction.

The final deal could be, Fed gov and state gov reach compromised agreement whereby, Feb opt its golden share in Syabas to force Puncak divest its stake in Syabas to KDEB in exchange for State gov grant land development order to build langat 2.

If you check Puncak last Q1 result, syabas only contribute less than RM 5m profit before tax or <4% to the Puncak earning. The major contribution is its wholly own subsidiary Puncak Niaga that operate 2 water treatment plant in SSP2 and wangsa Maju. If puncak opt to divest Syabas but retain Puncak niaga, there will be very minimum on its earning and easily recoup back by increase contribution from its oil and gas business.

These is compromised solution as the major issue is due to Syabas, the downstream distributor not the upstream water treatment plant.

KDEB can at least solve the partial issue by consolidate the these Syabas, the downstream water distributor and half of the upstream operator, the water treatment plant (Abbass + splash), and allowing other to continue (Puncak Niaga + langat 2)

Derick said...

Not many research house want to comment about the KPS and Puncak, maybe due to political risk and complicated issue involve. Finally kenanga risk puncak value at rm 5. http://www.theedgemalaysia.com/business-news/245766-kenanga-puncak-niaga-shares-could-be-valued-at-rm5.html

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