Highlights
KLSE: ALSREIT (5269)       AL-SALAM REAL ESTATE INVESTMENT TRUST MAIN : REITS
Last Price Today's Change   Day's Range   Trading Volume
0.85   +0.005 (0.59%)  0.845 - 0.85  24,100
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  2 people like this.
 
gforce2 The latest quarterly results don't look too exciting. EPS at 1.25 sen for the last quarter. If this is maintained, we're looking at an annualized EPS of only 5 sen.
21/05/2016 12:33 PM
Value Investor Coo1eo Will We get 5.5cents this year?
28/06/2016 8:42 PM
gforce2 http://www.bursamalaysia.com/market/listed-companies/company-announcements/5182605

Interim income distribution of 2.60 sen per unit for the financial year ended 31 December 2016 (of which 2.37 sen is taxable and 0.23 sen per unit is non-taxable in the hands of unit holders) in respect of the period from 01 January 2016 to 30 June 2016.

===
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5182561

There was an increase of 10% in net income before tax recorded in the current quarter as compared with the immediate preceding quarter. The increase was due to increase in rental and promotional income of KOMTAR JBCC.

===
1Q: 1.25 sen EPS
2Q: 1.38 sen EPS
If they maintain 1.38 sen EPS for the next 2 Quarters, that'll be 5.39 sen EPS for the year.

This share has lagged significantly behind the other retail REITs (low trading volume, capital appreciation of only 3 sen above IPO in Sept 2015). Perhaps, a future injection of properties will boost the earning prospects of this REIT.

It is also worthwhile to consider that quite a few Johor malls are expected to be completed in the next 2-3 years: Paradigm JB, MidValley SouthKey, Aeon, etc. Competition for tenants will definitely affect future rental reversions at Komtar JBCC.
22/08/2016 10:28 PM
shortinvestor77 Final income distribution of 3.40 sen per unit for the financial year ended 31 December 2016 (of which 2.91 sen is taxable and 0.49 sen per unit is non-taxable in the hands of unit holders) in respect of the period from 01 July 2016 to 31 December 2016. Withholding tax will be deducted for distribution made to the following types of unit holders :- - Tax Resident Companies (no withholding tax) - Resident and Non-Resident Individuals (withholding tax rate at 10%) - Resident Institutional Investors (withholding tax rate at 10%) - Non-Resident Institutional Investors (withholding tax rate at 10%) - Non-Resident Companies (withholding tax rate at 24%) - Nominees (withholding tax rates applicable to respective beneficial owners of the units)
28/01/2017 6:07 PM
shortinvestor77 Very good new.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5327637
28/01/2017 6:08 PM
yesyesyes The div payout increase .. worth to buy in ?
12/02/2017 1:51 PM
calvintaneng Posted by yesyesyes > Feb 12, 2017 01:51 PM | Report Abuse

The div payout increase .. worth to buy in ?


Looking for dividend or high yield for next 5 years?

Just buy this & HOLD TIGHT TIGHT

See

THIS IS IT!

OPCOM


Optimal

Coming

Value!


Already secured Rm300 Million projects. Expect 30 cts (dividend or Cash payout)

Since stock price is 63.5 cts - Total available for Cash distribution is a nice 47%

If just 9% year - it could last for more than 5 years


5 years?

Yes!

2017
2018
2019
2020
2021

Can any banks in Malaysia beat this?


HIP HIP HOORAY!!
12/02/2017 1:54 PM
yesyesyes Thanks Calvin .. I try to avoid the counter you recommend.. hope you can understand me ..
12/02/2017 9:53 PM
shortinvestor77 http://klse.i3investor.com/blogs/sinchew_company_story/115673.jsp
13/02/2017 11:37 AM
shortinvestor77 Calvin has never run a big fund.
13/02/2017 11:37 AM
Value Investor Coo1eo Should be up to RM1.2.....son inject more into this.
17/02/2017 11:08 PM
Beza Agree, it is undervalued.
22/02/2017 3:43 PM
shortinvestor77 http://klse.i3investor.com/blogs/sinchew_company_story/117661.jsp
06/03/2017 4:48 PM
limayseng Fomer Dana Johor . So I can guess the future.
21/03/2017 3:00 PM
shortinvestor77 Not the same anymore. So many companies such as Kulim belong to Johor Corp.
21/03/2017 6:29 PM
shortinvestor77 http://www.klsescreener.com/v2/news/view/217099
06/04/2017 7:37 PM
shortinvestor77 http://www.klsescreener.com/v2/news/view/232277
17/05/2017 8:27 PM
shortinvestor77 On Persada Annexe, JCorp said it will have a 83,000 sq ft retail centre and will be connected to the Johor Bahru Customs, Immigration and Quarantine (CIQ) Complex, via KOMTAR JBCC and City Square Mall, Persada Johor International Convention Centre and, eventually, the Coronation Square and Galleria.
17/05/2017 8:30 PM
shortinvestor77 Malaysia's May wholesale, retail trade growth accelerates
TheEdgeFri, Jul 14, 2017 - 5 hours ago

KUALA LUMPUR (July 14): Malaysia's wholesale and retail trade grew 10.7% to RM96.9 billion in May, from a year earlier, led by retail transaction growth.

According to the Statistics Department's statement today, retail trade rose 13.1% while wholesale and motor vehicle transactions climbed 9% and 10.2% respectively.

"The sales value consists of wholesale trade (RM46.9 billion), retail trade (RM37.2 billion) and motor vehicles (RM12.8 billion) businesses. The positive growth was contributed by retail trade (13.1%)," the department said.

May's wholesale and retail trade's on-year 10.7% growth compares with April's 9.6% expansion, according to the department.

FXTM vice president of corporate development and market research Jameel Ahmad wrote in a note today that Malaysia's above-forecast 10.7% wholesale and retail trade growth in May, added clarity to the notion the country's economy was performing above expectations.

“Optimism is continuously increasing that the GDP reading for Q2 will follow the same trend as the first quarter of the year, in terms of surpassing expectations, following a hat-trick of economic data announcements over the past week.

“If the Malaysian economy continues to pull out these numbers consistently above expectations, it won’t be long until think tanks begin upgrading their overall forecasts for growth this year,” Jameel said.
14/07/2017 10:09 PM
shortinvestor77 2nd Q could be 1.58 cents net profit (from latest NTA calculation). So Q1 + Q2 is 3.18 cents net profits. S projected about 3.15 cents div for 20171H financial year. 3.15 plus last year 20162H div 3.4 is totaled as 6.55 cents div per annum approximately.
14/07/2017 10:13 PM
Value Investor Coo1eo shorty....ur here too...
09/08/2017 10:42 PM
shortinvestor77 WILL yields of Malaysian real estate investment trusts (REITS) come under pressure because of lower rents and rising interest rates? That depends on how the data is interpreted. There is some evidence that rentals of properties ranging from offices to factories are being renewed at lower rates as leases end although at the beginning of the year, the expectation was for an average 6.3% yield for the year.

REITS experts say the total returns should be calculated on their unit price gains together with the yield. For July, local REITS had an average yield of 5.801% versus 5.507% in January.

Conventional wisdom says that when interest rates rise, this is usually bad for REITS. This is because REITS pile on debt as they acquire assets, so when interest rates rise, their ability to service debt comes under pressure as they also have to pay 90% of their earnings as dividend.

But if interest rates are rising because of a growing economy, this may not necessarily affect REITS negatively because businesses will expand, offices will be rented out and people will spend their money. There is speculation that Bank Negara may have to raise the overnight policy rate some time next year on demand-pull inflation stemming from rising consumer sentiment.

Detractors, who believe that the economic outlook is still uncertain, say consumer sentiment is still down although the first quarter’s unexpected 5.6% growth spurt was in part supported by private consumption. Economists expect the second quarter’s economic data to show growth above 5% after the surge in exports in recent months.

Most Malaysian REITS, because they own malls and offices, have been affected, to a degree, by the glut in office space or the downcast consumer sentiment. There is still reason to be cautious with local REITS, and this can be seen from their unit price performance, which has been mixed on a year-to-date and one-year basis reflecting the local business conditions and consumer sentiments.

What is keeping select REIT unit prices up and performing better than the benchmark FBM KLCI could be the drop in the yield of benchmark 10-year Malaysian Government Securities, which stood at 3.976 from 4.463% at the end of November. This could have driven some investor interest back to Reits, which offer better yields. Indeed, Kenanga Research actually upgraded Reits to “overweight” from “neutral” in June.

Ultimately, REITS are about their underlying assets, which is property, where these are located and how well they are managed. If a particular REIT’s assets fulfill all three factors, there is no reason that yield cannot sustain even with all the daunting challenges.
12/08/2017 11:48 AM
shortinvestor77 Given the continued strong performance in the
second quarter of 2017, the Malaysian economy
recorded a strong growth of 5.7% in fi rst half of 2017.
At this point, compared to the beginning of the year,
there are considerable improvements in the operating
environment of the economy. Looking ahead, it is
likely for the Malaysian economy to expand by more
than 4.8% for the whole year of 2017. Leading
indicators such as the Department of Statistics
Malaysia’s composite leading index, MIER Business
Conditions Index and MIER Consumer Sentiments
Index, suggest continued expansion of the domestic
economy.
19/08/2017 11:36 PM
Value Investor Coo1eo Shorty, what is your point?
20/08/2017 7:15 AM
shortinvestor77 Consumer will spend more money. Business is better.
21/08/2017 5:45 PM
shortinvestor77 Retail business in Malaysia continues to remain challenging in 2017 with the consumer confidence in 2016 yet
to recover due to the sluggish economy. In Johor Bahru, the competition is set to intensify with supply of new
sizeable malls which will change the retail landscape in the city. Given the strategic location of KOMTAR
JBCC in the city centre of Johor Bahru and directly connected to CIQ and the transportation hub, JB Sentral,
the Manager is confident that it will provide the competitive advantage in weathering the incoming
competition.
KOMTAR JBCC is the core asset in Al-Salām’s asset portfolio making up of about 48% of the total portfolio.
The tenancy which was due for renewal mostly in third quarter 2017, have seen significant numbers of
renewal. The numbers of non-renewal of tenancy represent less than 5% of the total net lettable area in
KOMTAR JBCC and the vacancy has been progressively filled up with new tenants. Accordingly, KOMTAR
JBCC has improved its occupancy rate from 93% in FY2016 to 96% as at the end of the current quarter as
well as its revenue for Q2-2017 compared to Q2-2016.
The above reflects the confidence of the retailers on the prospect of KOMTAR JBCC despite the current soft
retail market and incoming competition from the new malls.
@Mart Kempas Community Hypermarket recorded an average occupancy rate of 92% (FY2016:90%) as at
the end of the current quarter. Being a community mart which offers shoppers a good range of necessary
household products, @Mart Kempas will remain resilient in this challenging economic situation.
24/08/2017 6:54 PM
shortinvestor77 The occupancy of office building especially in Klang Valley remains sluggish as a result of oversupply in the
past few years. However, Menara KOMTAR which is mostly occupied by the sponsor of Al-Salām REIT,
Johor Corporation Group. This provides long term occupancy reliability for Menara KOMTAR. As at end of
Q2-2017, Menara KOMTAR recorded an occupancy rate of 93% (FY2016: 93%).
The QSR Properties which are on a Triple Net arrangement with 100% occupancy rate and the resiliency of
food and beverages industry provides stability to Al-Salām REIT. KFCH College Building is being 100%
tenanted by the education and hospitality division of KPJ group of companies which provide long term
occupancy steadiness.
The Manager will ensure the existing assets within the portfolio are well maintained to ensure the stability of
rental income, stable income distributions for Al-Salām REIT and create long-term value for its unitholders.
Apart from that, the Manager is actively identifying good assets for new acquisition to continuously improve
the yield and ensure further growth of Al-Salām REIT.
24/08/2017 6:54 PM
shortinvestor77 Good prospect. Not afraid of competition.
24/08/2017 6:55 PM
Beza Interim income distribution of 2.85 sen per unit for the financial year ending 31 December 2017 (of which 2.58 sen is taxable and 0.27 sen per unit is non-taxable in the hands of unit holders) in respect of the period from 01 January 2017 to 30 June 2017.
25/08/2017 3:54 PM
shortinvestor77 http://www.enanyang.my/news/20170920/90净利派息免税br-新措施激励产托购兴/
20/09/2017 10:19 PM
Value Investor Coo1eo shorty - what is the above about?
21/09/2017 11:08 AM
Beza The new said unlisted/private REITs need to pay 24% tax even though they release 90% net profit as dividend --- New Government Ruling. This favors the present public-listed REITs where they don't be taxed at all as long as they release 90% net profits as dividend to shareholders.
25/09/2017 2:13 PM
shortinvestor77 Al-Salam Real Estate Investment Trust
(Oct 5, RM1.00)
Maintain buy recommendation with a target price (TP) of RM1.15: We are mildly positive on Al-Salam Real Estate Investment Trust’s (Al-Salam REIT) proposed acquisition of a hypermarket asset in Terengganu as the leaseback will be based on a triple net lease structure.

Al-Salam REIT has proposed to acquire Mydin Hypermarket Gong Badak building in Kuala Terengganu from its vendor, Mydin Wholesale Cash and Carry Sdn Bhd, for RM155 million in cash (excluding acquisition expenses of RM2.6 million) — 2% below the appraised market value of RM158 million.

The deal also entails a leaseback arrangement of 30 years with rental step-up (5% every two years; monthly/annual rental not disclosed) and a triple net lease structure. The acquisition will be funded by borrowings and is expected to be completed in first quarter of 2018. The vendor is primarily engaged in the operations of a hypermarket, supermarket and emporium, as well as franchising, wholesale business and mall management.

We are mildly positive on the deal as a triple net lease structure would provide stable, recurring rental income to Al-Salam REIT with low occupancy risks. Based on our ballpark calculation, assuming a net property yield of 6% and borrowing cost of 5.2%, the hypermarket asset could raise our earnings per unit and distribution per unit forecasts for FY18/FY19/FY20 by 12%/4%/6% respectively.

The purchase could increase AL-Salam REIT’s gross gearing to 0.44 times and total property value by 17% to RM1.077 billion.

We maintain our earnings forecasts pending further disclosures from Al-Salam REIT. We continue to like Al-Salam REIT for its balanced portfolio consisting of stable assets on long and triple net leases, and the Komtar JBCC mall which provides earnings upside. — MaybankIB Research, Oct 4
06/10/2017 11:32 AM
Value Investor Coo1eo shorty - buy or not?
06/10/2017 11:54 AM
shortinvestor77 With the injection of Mydin Hypermarket, its total property value will be RM1.077 billion. Funds will then consider to invest. Amit can queue at RM1 and wait for a year or longer if you are interested with low risk reits.
06/10/2017 2:15 PM
shortinvestor77 RHB Investment Bank adjusts TP from 1.18 to 1.20.
https://klse.i3investor.com/blogs/nanyang_stock_expert/134404.jsp
06/10/2017 2:27 PM
shortinvestor77 目标价:1.10令吉

最新进展:

Al Salam产托(ALSREIT,5269,主板产托股)以1.15亿令吉,向经营知名快餐连锁店的QSR品牌,收购全国22项产业。

根据协议,完成收购后,Al Salam产托将把产业租回给QSR品牌。租约为期3年,并可更新最长至15年。

为完成上述收购,Al Salam产托也建议私下配售最多20%的产托单位予第三方投资者。如最终成功售出约10.89%,公司预计可筹得6000万令吉。

行家建议:

我们正面看待收购计划,因公司将以三重式净租约(即租户承担建筑物所有相关开销)将单位租回给QSR品牌。

租金仍然待定。我们作出基本假设,如净产业回酬率可达6.2%(与QSR品牌2016财年的表现一致),那上述计划将成为潜在可增进收益的资产,而我们预测的加权平均资本成本(WACC)是5.9%(负债对资产比率为40:60)。

在等候有关上述计划的进一步披露之前,我们暂时维持财测。考虑到公司之前以1.55亿令吉收购Mydin超市和配售计划之后,我们预计净负债将由0.35倍,升至0.44倍。

另外,再假设以最新闭市价1.00令吉的5%折价来计算,私下配售计划料最终会售出6320万新产托单位,而这将把公司的总产托单位扩大11%。

http://www.enanyang.my/news/20171206/al-salam产托购qsr产业财测不变/
06/12/2017 10:35 AM
shortinvestor77 http://www.klsescreener.com/v2/news/view/318519
13/12/2017 3:32 PM
shortinvestor77 https://www.thestar.com.my/business/business-news/2018/01/26/winners-and-losers-from-interest-rate-hike-by-cimb-research/
Furthermore, there should be some uptick in interest cost for borrowings but we believe the impact would be cushioned as most M-REITs have their borrowings on fixed rates with long-term tenures, except for Axis REIT and Pavilion REIT. Our estimation shows that an increase of 25bp in OPR would impact M-REITs earnings by less than c.1.5%.
Read more at https://www.thestar.com.my/business/business-news/2018/01/26/winners-and-losers-from-interest-rate-hike-by-cimb-research/#32IoXSoGhtiE6fl5.99
28/01/2018 1:49 PM
pputeh Will The recent statement my Mydin supermarket owner about consumers having less spending power affect this reit as it has interest in Mydin supermat in Trengganu
12/02/2018 10:18 AM
shortinvestor77 Rental fixed and same before renewal.
12/02/2018 9:17 PM
27/02/2018 4:54 PM
Beza http://klse.i3investor.com/insider/substantialShareholder/5269/09-Mar-2018/422246_921660605.jsp
09/03/2018 3:32 PM
Value Investor Coo1eo Who is going to AGM tomorrow?
18/04/2018 1:41 PM
Duncan Invest (吉隆坡14日讯)Al Salam产托(ALSREIT,5269,主板产托股)放眼在未来3年,收购约10亿令吉的商用和工业资产。

《The Edge》引述管理该产托的白沙罗产托经理私人有限公司主席拿督卡马鲁扎曼报道,该公司通过增加投资组合内高收益资产,吸引更多投资者。

他续称,公司不仅会向母公司柔佛机构(JCorp)购买产业,也会向外部及第三方购买。

“个人认为,我会希望未来3年内,每年收购约3亿令吉的产业。每年要收购那么多资产对Al Salam产托料不是问题,因为柔佛机构有很多资产。”

不过他说,公司在考虑收购时,对产托要求和标准非常高,且会考量到双方的资本价值和收益。

卡马鲁扎曼也是柔佛机构的总裁兼总执行长。

若Al Salam产托成功在未来3年收购10亿令吉ID资产,其组合规模将从目前的9.28亿令吉翻倍。

收购将通过借贷和配售产托单位完成,因此Al Salam产托的规模也会随之扩大。

白沙罗产托经理总执行长万阿兹曼伊斯迈也说,目的是为了让Al Salam产托在基金经理和老练投资者的眼中变得更吸引人。

今年先砸2.7亿

他补充,Al Salam产托今年正在收购2.7亿令吉的资产,包括以1.55亿令吉收购瓜拉登嘉楼的Mydin超级市场,以及1.15亿令吉收购全马22家餐厅。

其中,Mydin超级市场是该产托首个向第三方购买的资产。

至于母公司柔佛机构,已准备将有素质的资产注入到Al Salam产托,不过,万阿兹曼说,也有第三方接洽公司,洽谈关于资产收购的事宜。

他说,只有高素质和高收益资产才能被注入组合。
15/07/2018 3:09 PM
amber03 http://www.bursamalaysia.com/market/listed-companies/company-announcements/5921021
04/10/2018 3:01 PM
Dakewlest Good to buy?
07/10/2018 1:26 AM
Dakewlest Bought yesterday.
20/10/2018 3:33 PM
shortinvestor77 79 cents you got?
20/10/2018 3:40 PM
bulldog Qbuy@80
21/03/2019 9:29 AM


 

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