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Religare Health Trust *Official* (SGX: RF1U)

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Old 13-09-2012, 10:21 AM   #16
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Paul, I don't understand. The picture you paint doesn't look good and yet you remain vested?!
hes averaging down i guess
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Old 13-09-2012, 11:00 AM   #17
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Paul, I don't understand. The picture you paint doesn't look good and yet you remain vested?!
If it's only a few lots and he doesn't need the money then maybe he decided to just keep it there and hope something good happens lol.
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Old 13-09-2012, 11:30 AM   #18
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hes averaging down i guess
If it's only a few lots and he doesn't need the money then maybe he decided to just keep it there and hope something good happens lol.
Correct on all counts!

I remain vested in ai-trust because its still giving out distributions and the assets the trust own is quite good.

I have treat Indiabulls as a write-off. Its not really worth divesting now as I can't do much with the proceeds. The correct thing to do was to divest where there was sign of trouble but I took my eyes off the ball. Lessons learnt.
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Old 13-09-2012, 12:10 PM   #19
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rupee has been depreciating big time since last yr.

assuming that rupee bounced back. the yield is going to reduce becoz of rupee appreciation
i am assuming this is going to be denominated in USD or SGD.

if rupee continues to depreciate, the operating cost of the company is going to go up simply becoz of exchange issue.

india govt policy is always in a deadlock and reversable becoz of strikes, election ,etc
(for all u pap hater, this is the problem if u want democracy lol)

i worked in delhi, mumbai, bangalore, chennai in the last 1 yr lol
not really true lah. the currency of listing is not important ie SGD or USD or RP. what matters is the denomination of their operating revenues and expenses. I dont have much information yet. But there is a clue that they are operating hospitals in Australasia and EM. obviously their revenues cant be in RP. And expenses cannot be RP too. so your analysis is way off.

What you mentioned is a fictitous Indian company operating solely in India and listing in Singapore.
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Old 13-09-2012, 12:14 PM   #20
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Which is why I didn't subscribe to IHH. Substituting debt for equity isn't a good business model to me.
Are you sure?

A very good example is Starhub. You are vested right? Did you check their debt profile?

Leveraging is a good thing if you happen to be on the right industry. Of course to be on the safe side, its always best to have zero debt.
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Old 13-09-2012, 01:40 PM   #21
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Are you sure?

A very good example is Starhub. You are vested right? Did you check their debt profile?

Leveraging is a good thing if you happen to be on the right industry. Of course to be on the safe side, its always best to have zero debt.
Which is why I didn't subscribe to starhub IPO. :p

Have you seen their ROA and ROE? I think it's more than sufficient to offset their debt-equity.

Fortis is a different animal altogether. They are hiving off their assets into a trust to pay down debt on the holdco. How is that good.
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Old 13-09-2012, 01:42 PM   #22
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Correct on all counts!

I remain vested in ai-trust because its still giving out distributions and the assets the trust own is quite good.

I have treat Indiabulls as a write-off. Its not really worth divesting now as I can't do much with the proceeds. The correct thing to do was to divest where there was sign of trouble but I took my eyes off the ball. Lessons learnt.
2008 I invested in a unit trust focusing entirely on India.

4 years later, I made a small loss. Have not been able to appreciate Indian assets since. Their government is just too screwed up.
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Old 13-09-2012, 05:53 PM   #23
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Let's see who are the anchor / big investors ......
Temasek ?
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Old 14-09-2012, 02:41 PM   #24
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These are the indicative details I received from my broker for placement order:

Issuer: Regligare Healthcare Trust
Size of IPO: SGD 500 to 540 million
IPO price Range: SGD0.80 to SGD0.88 per unit
Indictive Market Cap: SGD 750 000 000 based on IPO price of SGD0.80 per unit
Price/Earning ratio: Nearly 20 times
Yield: 8.5 to 9%
Net debt/Equity: 2.8 times upon receipt of IPO proceeds
Timing: Lodge prospectus by end-sept 2012
Listing date on SGX: Expected in october 2012
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Old 14-09-2012, 09:45 PM   #25
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WAH You're subscribing?
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Old 15-09-2012, 09:58 AM   #26
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I'm sure you heard of this before but when your broker offered ikan billas like you placement shares, there's only 2 things you can conclude. #1 the issue is underwhelming; #2 the issue size is too large or possibly both.

To be fair, I have got a few other placement previously that were not exactly rotten and unwanted.

You need to go back to post #3 on whether I will be subscribing.

Last edited by Paul Lee; 15-09-2012 at 05:06 PM..
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Old 15-09-2012, 10:02 AM   #27
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Anything from India AVOID GAO GAO
Look at Indiabulls and AREIT India and Mercator (Indians-controlled) can riao
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Old 15-09-2012, 03:21 PM   #28
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Seeing how some business trust have performed, I don't exactly trust business trusts now.
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Old 16-09-2012, 02:42 AM   #29
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20x PE?!

Kidding me...
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Old 28-09-2012, 07:11 PM   #30
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14:47 28Sep2012 RTRS-INDIA'S RELIGARE HEALTH TRUST TO SELL 563 MLN UNITS IN SINGAPORE IPO, PRICE RANGE S$0.88-S$0.97 A UNIT-IFR
15:04 28Sep2012 RTRS-Religare Health sets price range for $445 mln S'pore IPO-IFR

SINGAPORE, Sept 28 (Reuters) -

Religare Health Trust, which will own hospital-related assets managed by Indian hospital group Fortis <FOHE.NS>, has set a price range of S$0.88 to S$0.97 a unit for its planned listing in
Singapore that could raise as much as S$546 million ($445 million), IFR reported on Friday.
Religare Health, which is structured as a business trust, has a mandate to invest in medical and healthcare assets and services in Asia, Australasia and emerging markets.
The price range translates to a forecast dividend yield of 8.5 percent to 9.1 percent, IFR reported.
The book will be launched on Monday and pricing will be on Oct 9. Around 97 percent of the offer is for institutional investors and the rest for retail.
CIMB <CIMB.KL>, DBS <DBSM.SI>, Nomura <8604.T>, Religare Capital Markets and Standard Chartered <STAN.L> are joint bookrunners for the IPO with Citigroup <C.N> as joint lead manager. ($1 = 1.2281 Singapore dollars)
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