Highlights
KLSE: KIPREIT (5280)       KIP REAL ESTATE INVESTMENT TRUST MAIN : REITS
Last Price Today's Change   Day's Range   Trading Volume
0.805   0.00 (0.00%)  0.805 - 0.81  160,800
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Ann. Date Ex Date Payment Date Type Subject Amount View
27-Apr-2017 16-May-2017 30-May-2017 DISTRIBUTION Income Distribution RM 0.01 Dividend Detail
25-Jul-2017 09-Aug-2017 29-Aug-2017 DISTRIBUTION Income Distribution RM 0.0192 Dividend Detail
30-Oct-2017 09-Nov-2017 28-Nov-2017 DISTRIBUTION Income Distribution RM 0.015 Dividend Detail
25-Jan-2018 12-Feb-2018 28-Feb-2018 DISTRIBUTION Income Distribution RM 0.0175 Dividend Detail
10-May-2018 07-May-2018 30-May-2018 DISTRIBUTION Income Distribution RM 0.0178 Dividend Detail
26-Jul-2018 08-Aug-2018 23-Aug-2018 DISTRIBUTION Income Distribution RM 0.018 Dividend Detail
15-Oct-2018 29-Oct-2018 13-Nov-2018 DISTRIBUTION Income Distribution RM 0.0145 Dividend Detail
15-Jan-2019 29-Jan-2019 14-Feb-2019 DISTRIBUTION Income Distribution RM 0.0155 Dividend Detail
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  Patrick13 likes this.
 
yuanlong57 Consumer sentiment index at 21-year high https://www.thestar.com.my/business/business-news/2018/08/02/consumer-sentiment-index-at-21year-high/#hSTWUQJQhFIqvJ5s.41
02/08/2018 09:41
malinfan don't worry, no hurry. after x date it fall like shit.... with 1%, i can wait.
02/08/2018 11:56
shortinvestor77 Then it goes up like rocket. Don't wait!
02/08/2018 16:53
yuanlong57 KIP REIT aims high and big - Business News | The Star Online https://www.thestar.com.my/business/business-news/2018/08/04/kip-reit-aims-high-and-big/#GKgrAqxpOH1jGpSE.41
08/08/2018 05:20
nkk53 Div yield so far has been reasonable.Why are these institutions continue disposing??????
11/08/2018 10:19
CFTrader generally, most of the REITS climbed to a level where i deemed it is a bit on the high side ....

Sincerely
CFTrader
23/08/2018 09:13
CFTrader 9share published an article of KIPREIT.

KIPREIT planned to acquire AEON MALL KINTA Shopping Mall for 280 milllion Ringgit Malaysia.
Previous owner had performed AEI (Asset Enhanced Initiative) for 32 million Ringgit Malaysia.

(Valuation CH Williams Talhar & Wong Sdn Bhd valued the 21-year old structure at a price of 220 million Ringgit Malaysia)

The rental agreement last for 10 years which start from 2015 to 2025, with the yearly rental rate of 16.31 million Ringgit Malaysia.

Sincerely
CFTrader
29/08/2018 13:13
Jackiee kip use 208m to buy not 280m
29/08/2018 13:31
shortinvestor77 Right but the market price is 230 million. This seen is a good business on top of rental rate.
30/08/2018 11:20
cong5895 More asset more dividend.
30/08/2018 11:25
Lim Tek Wai Never regret for buying this stock, profit is real
30/08/2018 11:28
CFTrader sorry, the earliest news 9share informed me that the price is 280m.
It is actually 208m with 7.8% gross rental yield.
Should be additive effect.

Sincerely
CFTrader
30/08/2018 11:44
sg999 why keep dropping??????????
14/09/2018 19:00
XOX_ Who buy who die haha.
16/09/2018 09:49
XOX_ Buy Aeon Mall is suicidal with oversupply malls. RI coming?
16/09/2018 09:51
nuke How is KIP (we) paying for this mall?
16/09/2018 16:19
Jasper Coo Never regret for buying this stock, profit is real
18/09/2018 11:12
nuke KIP down sharply. GE still disposing?
20/09/2018 16:04
shortinvestor77 https://klse.i3investor.com/servlets/ptres/47360.jsp
26/09/2018 21:58
naruko anyone attend agm that can share some happenings?
27/09/2018 15:59
RonanOng Ready to be goreng by Kenanga/Rakuten :)
02/10/2018 01:23
LearningToInvest anybody looked at note 10 of their 2018 audited accounts? They have RM87mil in borrowings which will be repaid in 1 bullet payment 5 years from date of 1st drawdown. I cant find any disclosure on when it was drawndown. It is sitting there in their books for 2017 and 2018. So I can only assumethat they would need to pay it back between now and 2021. They have ~20mil in cash, makes about 40m FCF every year and i do not see any disclosure of how much cash is cordon of to pay for the RM87m. Anybody has any information on how they plan to pay back this RM87mil? Thanks.
10/10/2018 16:41
LearningToInvest simply put sometime between now and 2021... they will have to:
1. do an equity fund raising
2. refinance
3. reduce distributions
option 1: dilution means reducing the yields assuming all else equals
option 2: refinancing to defer the bullet payment is probably their best choice.... if via a normal term loan... it means yields goes down. if via the same terms then it would probably be the same yield as now.
option 3: Right now there is about 3 years left to pay the 87m bullet payment, roughly about 29m a year. Their distribution in 2018 ~37m... so they will have to cut distributions per year to about 8m.

That means the 8%+ yield that we are seeing is not sustainable.... my 2 cents.
Feel free to comment.... i am here to learn.
11/10/2018 17:23
shortinvestor77 BoD is trying their very best to generate increasing profit. Any deal that cannot give a recent yield will not be purchased. The existing business they have been improving and increasing its profit while reducing cost be installing solar panels onto the assets. Reits always carry suitable debts with a max gearing ratio of 0.5.
12/10/2018 08:34
Gen2 @LearningToInvest, they have 300m cash ( published in sinchew : http://www.sinchew.com.my/node/1797937 )
12/10/2018 10:05
LearningToInvest Gen2: thanks for the link.
12/10/2018 12:04
Gen2 Weird thing is, their BS don’t have the 300m cash ??!!
12/10/2018 12:31
kinuxian That's the model of most REIT player by leveraging where SC limit the gearing ratio below 50% as hard cap. Most of them will tap into gearing where confident their purchase is making higher return then loan interest. They'll issuing new commercial paper when time due.

I guess many reporter failed their math. :) Their current asset is about 30MM instead of 300MM in their final report.
12/10/2018 17:57
Gen2 @kinuxian
The news even stating after the cash call existing 300m cash will be increased to 400m.
May be who attended their AGM can enlighten us further ?
12/10/2018 21:59
LearningToInvest their cash call is only ~100m shares... assuming they can place out at 0.80... only get 80m cash. Their Aeon purchase... from circular looks to be 100% funded by debt... but assuming 80% financing at 5% interest rate for 20 years..maybe NPI additional RM4m a year. if they manage to place out the 100m shares (which they will have to) their yield will no longer be 8%... proforma ~5% only. If only going to get 5% yield IGB or PAV reit safer
15/10/2018 14:14
shortinvestor77 They know what to do for the benefit of shareholders..
15/10/2018 21:57
CFTrader (1) According to what i had read in the AR2018 , they DO NOT have 300m cash .

Cash and Bank Balance = 8.9M
Deposit with License Bank = 10.9M

Generally speaking it's 20M for cash, and 28M for short term asset.


(2) REITS usually will refinance their debt with the asset as backing. As long REITS can generate income more than
(i) the existing rate - eg. if average rate is 7.0% , and the latest acquisition give 7.5%, that is addictive effect AND (ii) higher rate compared to the cost of fund - which is the loan.

They will be off good with the dividend declaration.

(3) They cannot simply cut the dividend yield, it is MANDATORY for REITS to declare a minimum of 90% NPI to enjoy the taxation benefit. REITS are differerent compared to normal share.


Sincerely
CFTrader
16/10/2018 00:16
CFTrader I lazy to recalculate, but base on last AR2018 , they still have 218.977 M loan amount to reach the ceiling level of 50% gearing ratio.

The acquisition of the "mall" is 208M, which they have maximize the loan amount already.

Sincerely
CFTrader
16/10/2018 00:19
shortinvestor77 https://klse.i3investor.com/blogs/nomoneylahreitinvesting/178957.jsp
20/10/2018 15:31
shortinvestor77 No more kacau from Great Estern and OCBC.
https://klse.i3investor.com/insider/substantialShareholderNoticeOfCeasing/5280/23-Oct-2018/11939_618477176.jsp
23/10/2018 14:15
shortinvestor77 http://www.klsescreener.com/v2/news/view/455910
13/11/2018 08:41
naruko halt again for this kinta acquisition, what the...
30/11/2018 14:47
naruko 2billion asset, what a high target, but I like it
06/12/2018 08:49
Kalaihselvan Krishnan Why big drop in price
31/12/2018 21:51
kinuxian I guess GE & OCBC. Selling their remaining shares although ceasing as substantial shareholders back in Oct.
31/12/2018 22:05
alam Rafik KIP already touch to 0.80 almost so why it slip...?
31/12/2018 22:12
RickyCJC Many REIT drop, don't know why?
31/12/2018 22:45
Kalaihselvan Krishnan Price down a lot
01/01/2019 01:20
Yi Heng fair price how much?
01/01/2019 18:17
RickyCJC What's going on? My other shares are up, only this share is falling
08/01/2019 13:08
nkk53 Q at 0.78
09/01/2019 10:32
Yapyapty Tp0. 70
13/01/2019 12:55
Tan Yeang Cong Still consider good, need time to grow.
16/01/2019 09:13
antonb RED ALERT - 2 main directors are selling, millions of shares after buying in Oct and Nov last year.. time for small holders to also sell??
28/01/2019 16:12
mbge7clt Green Alert the 2 main guys are buying back... i guess all these actions are normal.
30/01/2019 21:52


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