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144 comment(s). Last comment by investfuture at Oct 17, 2020 12:13 PM
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tarmizixx
53 posts

Posted by tarmizixx > Nov 20, 2016 11:04 PM | Report Abuse

Where else can one buy freehold property in KL at 40% discount book value?

Let's look at the properties:
1) Menara HLA: right inside KL golden triangle, just infront of KL Convention Centre/aquaria.
2) Menara Hp: 2 minute walk to the upcoming MRT 'Semantan' station, also connected directly to SPRINT highway (linked to NKVE, federal, LDP, etc.)

Oversupply of office space in these hot areas are just temporary. Sooner or later, demand will pickup and may eventually exceed supply (at which rental can be hiked). I'm just gonna keep collecting the generous dividend while waiting for the seed to sprout.

"Be fearful when others are greedy, be greedy when others are fearful" - Warren Buffet


foxyzz
46 posts

Posted by foxyzz > Dec 27, 2016 8:41 AM | Report Abuse

http://klse.i3investor.com/blogs/Therock/112457.jsp


tarmizixx
53 posts

Posted by tarmizixx > Jun 1, 2017 8:49 PM | Report Abuse

HP tower @ Semantan MRT Station
The station is 1 stop away from KL Sentral

https://www.youtube.com/watch?v=WDFbgjwFDRs


HamzahB
99 posts

Posted by HamzahB > Jun 9, 2017 2:26 PM | Report Abuse

Towers mentioned in The Edge: http://www.theedgemarkets.com/article/ijacobs-careplus-comfort-gloves-nylex-tower-reit-foundpac-ta-win-atta-global-rex-industry


hongweigiet88
45 posts

Posted by hongweigiet88 > Sep 3, 2017 10:48 PM | Report Abuse

https://hongweigiet222.wixsite.com/website/single-post/2017/09/03/TWRREIT-5111


ken
551 posts

Posted by ken > Sep 3, 2017 11:20 PM | Report Abuse

I hold the Reit for several years. I did some study and follow up from time to time.

TWreit has very good asset, NTA is far higher than share price. The issue is their property unable to rent out. If I am not wrong could be less than 70% currently rented (I don't have latest figure bcos I sold all some time ago). Base on my evaluation (or impression) the management team do not care too much on this business. They could have other 'more important' task to do under the group!! Maybe some of them are part time taking care of TWREIT...


gforce2
189 posts

Posted by gforce2 > Sep 6, 2017 5:49 AM | Report Abuse

http://www.theedgemarkets.com/article/tower-reit-appoints-eusoffe-chua-its-ceo

KUALA LUMPUR (Sept 5): Tower Real Estate Investment Trust (REIT) has appointed Chua Song Yong @ Eusoffe Chua as its chief executive officer effective today.

The CEO post was left vacant for more than a year. Chua is replacing Teo Juhn How, who resigned on June 8, 2016 to pursue other professional interests.

In a filing with Bursa Malaysia today, Tower REIT said Chua, 39, was previously TA Global’s head of group sales and marketing and head of group leasing and property management.

===

This is a positive development for TWRREIT. Imagine sailing without a 'captain' for over a year!
Autopilot may be fine during good times, but we're in shaky territories these days, and a ship needs a steady pair of hands!

Remember, TWRREIT currently only has 2 commercial office properties, and practically ZERO borrowings. Lots of room for growth and improvements! The question is, where will the next asset injection come from? (TAGB or Hong Leong Group)


ZeaXG
270 posts

Posted by ZeaXG > Feb 8, 2018 11:26 AM | Report Abuse

Hope the management would look into disposing the properties and buy better buildings


Leesk
45 posts

Posted by Leesk > Feb 12, 2018 2:23 PM | Report Abuse

Tower reit should just disposed off both the buildings and distribute the proceed. The reit is not doing anything as a business and it is a waste of management time and monies having it listed.


ZeaXG
270 posts

Posted by ZeaXG > Feb 28, 2018 10:39 AM | Report Abuse

Yes, should realise its NAV which is in the best interest of REITholders


l3ryan
547 posts

Posted by l3ryan > Mar 23, 2018 9:00 AM | Report Abuse

heard the biggest tenant in HP Towers is moving out soon


foxyzz
46 posts

Posted by foxyzz > Mar 26, 2018 2:39 PM | Report Abuse

if no CEO, stock not performing ade excuse...ini sudah ade CEO, CEO tidor ka?


Leesk
45 posts

Posted by Leesk > Mar 26, 2018 7:42 PM | Report Abuse

If cannot rent please sell the property.


limyok123
5 posts

Posted by limyok123 > May 14, 2018 11:30 PM | Report Abuse

Can anyone tell me what is the net intrinsic value of Twrreit? It's not the same as the net asset value, is it? Thanks.


dunspace
348 posts

Posted by dunspace > Aug 18, 2018 7:22 AM | Report Abuse

Net intrinsic value does not equate to net asset value. Intrinsic value depends on how much returns can you get from your net assets over a period of years + net assets.


dunspace
348 posts

Posted by dunspace > Aug 18, 2018 7:23 AM | Report Abuse

Anyone know why can TWREIT distribute 88.5% of net income? I thought it is by the rule that a REIT must distribute 90% and above?


gforce2
189 posts

Posted by gforce2 > Aug 18, 2018 10:08 PM | Report Abuse

This is an interim dividend, only the 2nd quarter. TWRREIT needs to make sure that it fulfills the 90% requirement for the full year, or else be liable to 24% corporate tax.


dunspace
348 posts

Posted by dunspace > Aug 19, 2018 9:11 AM | Report Abuse

Thanks for clarification~


limyok123
5 posts

Posted by limyok123 > Aug 20, 2018 4:13 PM | Report Abuse

Thanks for the elucidation.


AntiPondan2
33 posts

Posted by AntiPondan2 > Nov 17, 2018 6:44 AM | Report Abuse

QR getting worse and worse. Will Twr Reit drop to 50-60 sen?


Leesk
45 posts

Posted by Leesk > Dec 20, 2018 12:49 PM | Report Abuse

Anything's can happen. why not hong leong privatised it


newbie4444
1136 posts

Posted by newbie4444 > Feb 13, 2019 5:58 AM | Report Abuse

Loss QR why no drop?


ZeaXG
270 posts

Posted by ZeaXG > Feb 21, 2019 5:27 PM | Report Abuse

Loss QR is because of deferred tax due to RPGT disposal >5 years tax rate changed. If the REIT does not intend to dispose, then this should be a non-issue. On the flip side, the figure you should be focusing should be the revenue which has actually gone up.

You should be asking... Revenue up why no up?


qingqingqing
64 posts

Posted by qingqingqing > May 6, 2019 9:36 PM | Report Abuse

Why no dividend declare for 2 quatters?


ACE9696
111 posts

Posted by ACE9696 > May 8, 2019 11:44 PM | Report Abuse

hang zheng pai


Leesk
45 posts

Posted by Leesk > May 27, 2019 4:18 PM | Report Abuse

REIT without dividend??? How to invest? It is better to sell the property urgently and distribute cash back


Airline Bobby
482 posts

Posted by Airline Bobby > Jun 4, 2019 9:45 AM | Report Abuse

Lousy management


ZeaXG
270 posts

Posted by ZeaXG > Jun 20, 2019 3:53 PM | Report Abuse

Keep yo-yoing between 0.87 and 0.91


bryantfc
3 posts

Posted by bryantfc > Jul 17, 2019 5:38 PM | Report Abuse

Discounted Properties. Chance to own office properties at a discounted price at RM343 psf =rm.090 (current price) X 280,500,000 (number of shares) / 735,017 (Net Lettable Area )


Leesk
45 posts

Posted by Leesk > Jul 19, 2019 10:11 AM | Report Abuse

it is cheap with rm343 psf considering the properties is in kl and good location. Construction cost also cost more than that.


newbie4444
1136 posts

Posted by newbie4444 > Jul 28, 2019 9:17 AM | Report Abuse

Why sales keep drop?
https://klse.i3investor.com/servlets/stk/fin/5111.jsp


bryantfc
3 posts

Posted by bryantfc > Aug 4, 2019 11:06 AM | Report Abuse

Drop in rental, Plus point is reductions in rental increases growth rates from excess capacity.
https://themalaysianreserve.com/2019/05/30/office-rental-rates-to-drop-in-next-12-months/


bryantfc
3 posts

Posted by bryantfc > Aug 4, 2019 11:33 AM | Report Abuse

https://www.thestar.com.my/business/business-news/2019/06/07/kl-office-rental-most-affordable-in-asiapacific/


Leesk
45 posts

Posted by Leesk > Aug 6, 2019 5:43 PM | Report Abuse

if the office buildings is distribute by specie, 735,000÷280,500, then you would get 2.6 sq ft per 1000 shares


kahhoeng
3260 posts

Posted by kahhoeng > Aug 24, 2019 12:54 PM | Report Abuse

err... meaning 300,000 shares would be entitled to 780 square feet of space at a cost of less than RM 270,000. Would be great if those spaces are distributed then, haha... an apartment for RM 270,000 at prime area.


gforce2
189 posts

Posted by gforce2 > Oct 29, 2019 9:33 AM | Report Abuse

https://www.theedgemarkets.com/article/hong-leongs-tower-reit-reinvent-coworking-space

The innovation centre is expected to occupy 250,000 sq ft or about 65% of the total 385,215 sq ft net lettable area in Menara HLA.

Chua is optimistic that 250,000 sq ft of space to be offered by the innovation centre will be fully occupied by tenants after renovation works are completed by end-2020.

Currently, about 100,000 sq ft have been taken up by six tenants including local training academy KCOM Group and a co-working space operator.


lcteh88
77 posts

Posted by lcteh88 > Feb 21, 2020 4:00 PM | Report Abuse

Keep dropping . Infected by Virus ?


gforce2
189 posts

Posted by gforce2 > Mar 3, 2020 1:18 AM | Report Abuse

https://www.theedgemarkets.com/article/guocoland-sell-menara-guoco-tower-reit-rm242m

KUALA LUMPUR (March 2): GuocoLand (Malaysia) Bhd is selling Menara Guoco in Damansara Heights here to Tower Real Estate Investment Trust (Tower REIT) for RM242.1 million cash, in a related party transaction (RPT).

Menara Guoco is a 19-storey office building which forms part of an integrated commercial development known as Damansara City, comprising another office building, a hotel, a retail mall, serviced apartments and car parks.

As at Feb 6, 2020, the building has an occupancy rate of about 97.1% and is expected to increase Tower REIT's pro forma occupancy rate for its portfolio to 59.8% from 48.1%.

Upon completion of the proposed acquisition, Tower REIT's consolidated asset base is expected to increase about 42.3% to RM814.3 million and the average building age of its property portfolio is expected to decrease to 18 years from 23.

The proposed disposal is expected to be completed by the third quarter of 2020.

===

The rental market for commercial office space has been facing a glut for years now. Yield on this property is under 5% p.a.with 97.1% occupancy and they're estimating 100% loan @4.3% p.a.

I don't expect DPU to improve too much in the short-term, but it will probably help to stabilize the dividend as the other two office buildings currently have less than 50% occupancy! If you look at their last quarterly result, yields have possibly fallen below 2.5%! Menara HLA is still under renovation!

Who else wins?
1. Guocoland, as they cash-out a relatively low yield asset and lower their borrowings.
2. Hong Leong Bank, as they will probably issue the RM242m loan themselves @4.3% p.a.
3. GLM REIT Management, the REIT management company, since their earnings depend on the NAV of the properties.


Leesk
45 posts

Posted by Leesk > Mar 4, 2020 5:23 PM | Report Abuse

what is the exact property yield for this acquisition?


Leesk
45 posts

Posted by Leesk > Mar 4, 2020 5:25 PM | Report Abuse

Just disclosed under 5% with 97% occupancy did not give any confort to minority shareholders


investfuture
37 posts

Posted by investfuture > Sep 4, 2020 6:27 PM | Report Abuse

twrreit annual report jun2020 analysis

中文:
https://vitamincash.com.my/zh_CN/2020/09/04/twrreit-jun-2020-annual-report-summary/

english:
https://vitamincash.com.my/en_US/2020/09/04/twrreit-jun-2020-annual-report-summary/


reitpulse
14 posts

Posted by reitpulse > Sep 21, 2020 8:17 AM | Report Abuse

The existing operational and financial performance has been a declining trend and it will take a massive turnaround for the management to effect change on the existing properties. The positive aspect of Tower REIT, on the other hand, is they have a tremendously low gearing. This would give them a huge headroom for further growth opportunities. Even with the proposed acquisition of Guoco Tower fully finance by debt, this would still give them ample of debt headroom for further acquisition and enhancement exercise.

http://reitpulse.com/tower-reit-performance-2020/


ZeaXG
270 posts

Posted by ZeaXG > Sep 22, 2020 2:03 PM | Report Abuse

Thanks for the summary and analysis @investfuture and @reitpulse. At this point, it feels like it will take a massive economic growth in Malaysia in order to for demand in office space to cover the supply. In that sense, I am not so optimistic about tower reit's immediate prospects. Maybe within another 10 years before the reit shows any improvement in its occupancy rates. Just my 2 cents.


investfuture
37 posts

Posted by investfuture > Oct 17, 2020 12:13 PM | Report Abuse

TWRREIT 1Q2021 analysis

chinese:
https://vitamincash.com.my/zh_CN/2020/10/17/twrreit-1q2021-quater-report/

English:
https://vitamincash.com.my/en_US/2020/10/17/twrreit-1q2021-quater-report/

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