Not yet over, the selling was still continues today, the seller is tricky guy, so, the huge q to buy at 0.61 and 0.615 could be fake buying interest. Be careful.
@sharefisher this is against law, coz action like this is one of manipulation tactics. queue and cancel later, queue and cancel later. Just watch the show first
Yea, don’t talk about queue for few hundred or few thousand. When come to hundred thousand or million, queue now cancel later, keep repeating queue again cancel later is one of the manipulation, this can get caught.
I don't know about others counters, but if you care to monitor pbb, last few days, more than 200k share just key in and cancelled in seconds, same number of shares, just key in then cancelled. SC is the toothless tiger lah.
on whether how much they will declare, i think we can get a glimpse of how much they earn for this qr (end sept) then we can roughly estimate 90% of the income to be distributed..
Even though lot of ppl concern about the upcoming supplies and work from home norm, but offices in strategic area like Mid Valley continue to enjoy good occupancy. 70% of the IGBCR asset in Mid Valley and in “controlled” area because all office buildings belong to IGB. Their overall occupancy rate now at 76%, slight lower compared to a year due to a newly completed office building currently occupied half. I see the office crowd there are gradually back to 60-70%.
Historically office REITs hardly trade below 0.5x to book, hence think fair to assume downside risk around 20% from their current price. In the case of rising interest, IGBCR only exposed to 26% of gearing, lower than office REITs like Sentral and well below 60% requirement from SC. Room for them to inject other assets in future.
@Pinky, Current 71% occupancy rate is due to Pandemic and it’s the lowest occupancy. With market reopening, the occupancy highly will improve rather than drop further. Plus, management indicated thus year rental will positively revise. So, 5 cents or increase of 25% rental income is likely achievable.Furthermore, even if the rental increase is not achieve. Current 4 cents or 6.6% yields is relatively high for existing market
definitely. IGBB cashflows are very strong, dividends from IGB REIT and IGBCR are more than 20 sen per share. Wait till it carries out the proposed corporate exercises then it will be able to pare down borrowings and raise dividend payouts
Entitlement subject Income Distribution Entitlement description 1.75 sen per unit comprising 1.69 sen taxable and 0.06 sen non-taxable for the period from 1 July 2023 to 31 December 2023 Ex-Date 15 Feb 2024
Pursuant to the Bursa Malaysia Securities Berhad's letters dated 7 May 2021 and 16 July 2021 respectively in relation to the Approved Manager's Units and the Approved Public Spread, 8,419,338 new units of IGBCR to be issued to IGB REIT Management Sdn Bhd, the Manager of IGBCR as payment of management fees, as detailed below:
Period Management Fees Issue Price per unit# Units to be issued 1 October 2023 to 31 December 2023 ("4Q23")
Base Fee @ 0.3% per annum (“p.a.”) of Total Asset Value (excluding cash and cash balances which are held in non-interest bearing accounts)
RM2,507,496 RM0.493 5,086,198 Performance Fee @ 5% p.a. of Net Property Income RM1,643,238 RM0.493 3,333,140 Total RM4,150,734 8,419,338
last two quarters Q1 & Q2 '24, DPS 1.93c > EPS 1.5c, this is not Sustainable ? - estimate FY24 => EPS 3c, 90% => DPS 2.7c, at price 0.485, DY at 5.5% only
Yup, the DPS is not sustainable. Management are taking share unit instead of cash for their fees. Good thing is higher DY we saw. Bad thing is it will diluted our share holding.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
mrbusiness
206 posts
Posted by mrbusiness > 2021-09-28 14:54 | Report Abuse
Dato‘ 讲股票:怡保花园商托IGB Commercial REIT。南洋商报没有做好功课!
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