KIP REAL ESTATE INVESTMENT TRUST

KLSE (MYR): KIPREIT (5280)

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Last Price

0.90

Today's Change

0.00 (0.00%)

Day's Change

0.895 - 0.90

Trading Volume

314,200

IPO Info
Offer Period

Opening

2016-12-30

Closing

2016-12-30

Time Table

Allotment Date

2017-02-03

Listing Date

2017-02-06

Price

Issue Price

1.00

Units

505,300,000

Share Capital

0.000

No of Shares

Public Issue

13,500,000

Offer for Sale

-

Private Placement

220,650,000

Issuing House

MIH - 581

ISIN Code

MYL5280TO001

Prospectus:

INITIAL PUBLIC OFFERING OF 234,150,000 OFFER UNITS IN KIP REIT ("UNITS") COMPRISING THE ISSUANCE OF: (I) 220,650,000 OFFER UNITS MADE AVAILABLE FOR APPLICATION BY MALAYSIAN INSTITUTIONAL INVESTORS AND SELECTED INVESTORS, INCLUDING BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY, AT THE INSTITUTIONAL PRICE BEING THE PRICE PER UNIT PAYABLE BY THE INVESTORS WHICH WILL BE DETERMINED BY WAY OF BOOKBUILDING ("INSTITUTIONAL PRICE"); AND (II) 13,500,000 OFFER UNITS MADE AVAILABLE FOR APPLICATION BY THE MALAYSIAN PUBLIC, THE ELIGIBLE DIRECTORS AND EMPLOYEES OF THE MANAGER, THE VENDORS (AS DEFINED IN THE PROSPECTUS) AND ELIGIBLE ASSOCIATE COMPANIES OF THE PROMOTERS (AS DEFINED IN THE PROSPECTUS) AT THE RETAIL PRICE OF RM1.00 PER UNIT PAYABLE BY APPLICANTS ("RETAIL PRICE"), SUBJECT TO THE CLAWBACK AND REALLOCATION PROVISION IN CONNECTION WITH THE LISTING OF AND QUOTATION FOR 505,300,000 UNITS IN KIP REIT ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD. THE RETAIL PRICE IS PAYABLE IN FULL UPON APPLICATION AND SUBJECT TO REFUND OF THE DIFFERENCE, IN THE EVENT THAT THE FINAL RETAIL PRICE IS LESS THAN THE RETAIL PRICE. THE FINAL RETAIL PRICE WILL BE EQUAL TO THE LOWER OF: (I) THE RETAIL PRICE OF RM1.00 PER UNIT; AND (II) THE INSTITUTIONAL PRICE.

KIP REIT Prospectus - Notice of Electronic Prospectus to Page 150 (Part 1).pdf

KIP REIT Prospectus - Page 151 to Page A-57 (Part 2).pdf

KIP REIT Prospectus - Page B-1 to Page B-43 (Part 3).pdf

KIP REIT Prospectus - Page B-44 to Back Cover (Part 4).pdf

Discussions
3 people like this. Showing 50 of 711 comments

Justmeme

Pang72... this is a very good report. Must be due to the acquisation of the industrial lots. Heard the annual rental is about 8.2 % but I am not sure

2023-02-02 15:34

Fundamental Trader

REASONS: GROWTH + YIELD + VALUE + TREND + EARNING STABILITY + GOOD FA

2023-05-25 09:40

Starship2

I think the earning from Kip Warisan, Kip Reit latest aquisition has not been included in its latest earning report... Its latest aquisition would mean Kip Reit will have 11 properties..but the report only mentions its as 10.. I suppose its incorporation is not completed yet

2023-07-25 12:10

Pinky

@Starship2 acquisition of KIP Warisan is only at proposal stage

2023-07-25 13:20

Starship2

Thanks Pinky for the info....Regarding this reit, the payout of 1.75 sen gives an annualised dividend yeild of more than 7%.. Personally, I feel it is not all that bad to park some money there...

2023-07-26 15:23

Value Investor Coo1eo

Please consider the nett dividend (after withholding tax) which will give you around 6.3%
Not too bad

2023-07-27 13:55

Justmeme

Let us do the maths again. At 1.75 cts equal to 1,75x4 = 7 cts per year. At a price of 90 cts, 7cts gives an annual div of 7.78%. After 10% tax nett div is 7 %. Am I right here ?

2023-08-14 21:24

Pinky

1.75 x 4 x 90% ÷ 0.895 = 7.04% DY nett

2023-08-14 22:43

Value Investor Coo1eo

Wow…I would be very happy if the gross dividend for next 12 months is 7sen. I prefer to be conservative and take gross 6.4sen which is average of past 3 FY. So nett around 5.8sen.

2023-08-15 22:43

DividendGuy67

Value Investor, we think similar, 6 months ago, I predict KIPREIT FYE2023 Dividend after tax is 5.63. It came out 5.74, better than I expected. I was bracing myself for the lower dividend. At 0.885, DY of 6.5% is not bad after tax. This is one of my smaller REIT where I will be happy to add more at lower prices.

2023-08-21 23:31

Value Investor Coo1eo

@dividendguy67 - thanks for the message. yes, indeed. that said value buy (with MOS) for KIP is round about 0.83..i would not anything pay more than 0.85
the high dividend yields comes with an inherent risk that we are taking. Not that small is bad, but I see a lot of uncertainty and lack of transparency from time to time. CEO is also very green and lacks the experience, riding on family business. i have been now accumulating S-REITs with strong sponsors like Mapletree, CapLand and Frasers. No witholding tax, and the SGD is more solid.

2023-08-22 13:20

DividendGuy67

Wow ... hidden buyers plenty here. After a GTC order to queueto add a little to buy at 0.885, my order is finally executed today (97.5% matched, outstanding to match 2.5%). This is notwitstanding there was 7 consecutive days of trades being done at 0.885. 2 weeks of waiting. At 0.885, the lowest ever yield the past 6 years occured in 2019 when after tax, it is 5.437 sen with a Yield of 5.437 / 88.5 = 6.1%. This beats EPF very handily. It's TTM Dividend Yield is not bad, at 6.5%. It's maximum yield is higher, which occurred in 2021. I don't look at maximum yield, only the minimum yield, so that I can reasonably expect the worst.

My only concern is that 2023 is supposed to be an even better year than 2022 and 2021 but its distribution is lower than 2022 and 2021, hence, otherwise, I would have loaded up more. It pays not to be greedy.

2023-08-28 15:53

Value Investor Coo1eo

Kota Warisan will help boost up 2024/25 numbers.

2023-09-08 05:46

Justmeme

Then next div in July next year will be great then

2023-11-10 15:39

Starship2

It gives out dividend every quarter if I am not mistaken..If I am right we can expect a dividend for 4th Q 2023...soon

2024-01-18 16:10

Yippy68

late QR, should be on 17 Jan

2024-01-19 00:20

Pinky

See past few years history la

From 16th to 19th

No law saying that QR must be same day every year

2024-01-19 10:01

Justmeme

Usually on a Friday which is today

2024-01-19 10:33

tauruslau

Hope 2 cent.

2024-01-19 13:32

smartly

2c susah lah. 1.6c hopefully.

2024-01-19 13:35

Justmeme

Their pattern is every Q 1.45 to 1.55 cts region for 3Q. Next Q in May also should be about the same. The mid year in July after book closing then they will usually give a bit more ie 1.7 or 1.8 I think this coming July.

2024-01-19 16:09

hng33

Bought kip at 89sen

2 months ago

Justmeme

Good buy

2 months ago

smartly

good buy !?
later you will see "Sold kip at 90sen".....LOL!

2 months ago

Justmeme

To make 1 or 1.5 cts in a week is good buy also. There will be a small jump once dividend is announce

2 months ago

Value Investor Coo1eo

Delayed. I think they may have a problem

2 months ago

Justmeme

Yes, delay usually not good sign

2 months ago

Justmeme

actually I buying a lot last few days at 885. After announcemnet it goes to 90 cts I just sell

2 months ago

smartly

if dpu can declare 1.55c, high chance can reach 90c

2 months ago

Value Investor Coo1eo

Well…if there is a surprise in the earning it can go to 805. 🤭

2 months ago

Justmeme

Doubt it as REITS income usually fairly consistence unless some major write off or surprises as most rental contract are long term

2 months ago

Value Investor Coo1eo

That is what i said…”if there is a surprise”

2 months ago

smartly

steady. DPU 1.55c. tomorrow will creep up to 90c

2 months ago

Pinky

Improved DPU 👏

At current price, 6.9% net yield!

2 months ago

smartly

Income Distribution
Entitlement Details:
Second Income Distribution of 1.55 sen per unit for the 2nd Quarter of 2024
(from 1 October 2023 to 31 December 2023) comprising:- (1) 0.85 sen per unit is
taxable; (2) 0.65 sen per unit is non-taxable; and (3) 0.05 sen per unit is tax
exempt.
Entitlement Type: Income Distribution
Entitlement Date and Time: 14/02/2024 04:00 PM
Year Ending/Period Ending/Ended Date: 30/06/2024
EX Date: 13/02/2024
To SCANS Date:
Payment Date: 29/02/2024
Interest Payment Period: 01/10/2023 to 31/12/2023

2 months ago

Justmeme

Then this year yield should to above 7% this year as in July the last one before book closing usually is higher.

2 months ago

Justmeme

smartly,.... this usually I do not understand the term.

Second Income Distribution of 1.55 sen per unit for the 2nd Quarter of 2024
(from 1 October 2023 to 31 December 2023) comprising:- (1) 0.85 sen per unit is
taxable; (2) 0.65 sen per unit is non-taxable; and (3) 0.05 sen per unit is tax
exempt.

Does it mean on the 1.55 cts declared, the 0.85 cts are taxable at 10 %, right and the 0.65 % is non taxable means no tax and the final 0.05cts is tax exempted... what it really means ???. I am not sure about this last 2 term. Can someone pls help explained and clarify on this ?

2 months ago

Pinky

To normal/layman investor like us

Taxable = Deduct 10% withholding tax
Exempt = 0% tax
Non-taxable = 0% tax

2 months ago

Pinky

Don't need to overthink or over-analyse

2 months ago

smartly

about the tax...pinky is correct.

2 months ago

smartly

overall the dividend yield for now is > 7%. better than putting in fd

2 months ago

Justmeme

Oh... Ok, many thanks. Means effective base on the tax, the tax would be 5% of 1.55 cts since about half is not taxable

2 months ago

smartly

all give tp > RM1 but since listing, never before it touches above RM1.
this stock is only good for keeping for its dividends.
those looking for higher interest yield than epf, not a bad idea to park your money here

2 months ago

Justmeme

They have bought the 3 industrial lots and Kinta City which are damn good investment for KIPREITS. Makes KIP not so reliance to just shpping mall and a bit diversify. If they keep on this trend it will be good in the future.

2 months ago

smartly

Q2FY2024 - 10.6m
Q2FY2023 - 8.1m
so the 3 industrial properties have contributed approximately (10.6 - 8.1) 2.5m per Q
yearly net profit will have additional 10m, this translate to 0.16sen additional DPU yearly

2 months ago

smartly

say 0.16sen net distributable is around 0.144sen
every Q will have additional 0.036sen DPU

2 months ago

smartly

KIPMall Kota Warisan not in the picture yet, only to Start Contributing in 2HFY24

2 months ago

Value Investor Coo1eo

@smartly - did you factor in the dilution after the 3 industrial properties in your DPU calculation?

2 months ago

Value Investor Coo1eo

Haiyan….@smartly - did you understand my question? You calculation claims on industrial pro wil contribute 0.16 (nett 0.144) annually. Does this consider the increase in number of units following the placement and issue of new shares in lieu of the industrial property acquisition

2 months ago

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