Croesus Retail Trust *Official* (SGX:S6NU)

[lionelow]

worth buying.... or not.

 

[actman]

Cornerstone investor (extracted from Page 72 of preliminary prospectus)

• Asdew Acquisitions Pte Ltd
• Citadel Asset Management
• D.E. Shaw Valence International, Inc.
• Eastspring Investments (Singapore) Limited
• G. K. Goh Strategic Holdings Pte Ltd
• Hong Leong Asset Management Bhd
• Hwang Investment Management Berhad
• JF Asset Management Limited
• JABCAP Multi Strategy Master Fund Limited
• Myriad Asset Management Limited
• Target Asset Management Pte Ltd

 

[excalibur324]

will weakening yen affects the dividends?

 

[w1rbelw1nd]

will weakening yen affects the dividends?

If you take into account the current exchange rate, the dividend is already very high.

Anyway how much lower can the yen drop without the other G20 countries complaining and engaging in a currency war?

I think the recent weakening of the yen makes it more certain that the yen wont depreciate a lot more. I rather subscribe to the IPO now then 6 months ago when there is much more "room for depreciation".

 

[Paul Lee]

will weakening yen affects the dividends?

Of cos. Need an example, just take a look at Ai-REIT.

But you need to remember its not just a weakening yen. Even if yen remain steady but SGD strengthen, DPU will still be affected. Again that was the case with Ai-REIT.

Frankly, given the currency risk and the fact that the assets are in a country we're not familiar with, 8% yield is a little low. But in a yield-hungry investing world, that will do.

Just be aware that this is a business trust and not a REIT.

 

[genie47]

Eh forummers. Do you know what the name Croesus means or not?

Croesus - Wikipedia, the free encyclopedia

Croesus' wealth remained proverbial beyond classical antiquity: in English, expressions such as "rich as Croesus" or "richer than Croesus" are used to indicate great wealth to this day.

HUAT AH!

 

[w1rbelw1nd]

will weakening yen affects the dividends?

And lets not forget that even though a weakening yen may reduce the value of dividends in S$, but if the rental obtained is higher due to a stronger Japanese economy (due to weakening yen) then depreciation need not be a bad thing.

Look at the performance of Saizen REIT. Same underlying assets, cash flows are in yen. Even though yen depreciates, the price actually increase! I think the market factor in the increase in absolute amount of rental fees more positively thats why share price went up

 

[::KES::]

I thought I read about Japan going to do a stimulus a while ago? Will that come into effect?

 

[koxinga]

Of cos. Need an example, just take a look at Ai-REIT.

But you need to remember its not just a weakening yen. Even if yen remain steady but SGD strengthen, DPU will still be affected. Again that was the case with Ai-REIT.

Frankly, given the currency risk and the fact that the assets are in a country we're not familiar with, 8% yield is a little low. But in a yield-hungry investing world, that will do.

Just be aware that this is a business trust and not a REIT.

Actually, I have also been thinking, a lot of these trusts and REITs are coming to Singapore to list because we are flush with liquidity and the market is hot for yields. Exactly like the period when the China companies started listing in Singapore.

Anything packaged as a REIT/Trust immediately gets attention. I think we need to look behind the curtain/under the skirt!

 

[Dividends Warrior]

Interesting facts about 'Croesus'

"In Greek and Persian cultures the name of Croesus became a synonym for a wealthy man. Croesus' wealth remained proverbial beyond classical antiquity: in English, expressions such as "rich as Croesus" or "richer than Croesus" are used to indicate great wealth to this day. "

 

[anfielder]

Eh forummers. Do you know what the name Croesus means or not?

Croesus - Wikipedia, the free encyclopedia

Croesus' wealth remained proverbial beyond classical antiquity: in English, expressions such as "rich as Croesus" or "richer than Croesus" are used to indicate great wealth to this day.

HUAT AH!

Interesting facts about 'Croesus'

"In Greek and Persian cultures the name of Croesus became a synonym for a wealthy man. Croesus' wealth remained proverbial beyond classical antiquity: in English, expressions such as "rich as Croesus" or "richer than Croesus" are used to indicate great wealth to this day. "

Hope it is not just the vendors who huat but the investors as well!!

 

[matrix05]

Of cos. Need an example, just take a look at Ai-REIT.

But you need to remember its not just a weakening yen. Even if yen remain steady but SGD strengthen, DPU will still be affected. Again that was the case with Ai-REIT.

Frankly, given the currency risk and the fact that the assets are in a country we're not familiar with, 8% yield is a little low. But in a yield-hungry investing world, that will do.

Just be aware that this is a business trust and not a REIT.

Wah, u leave the best at the last. Business trust, then there is not even the need to eat popcorn w/ DW or Rafflesian's Simon.

 

[nothinisimpossiblewiftime]

not interested due to forex risk

yen oreadi drop close to 10% past few months

 

[supertanweekiat]

One important question..is their investment building near earthquake prone area..if kanna strike once..who dare to invest?

 

[princessreiko]

Just be aware that this is a business trust and not a REIT.

Thanks Paul for highlighting!

No wonder the gearing is high at 57%.
Reits gearing is not that high.

 

[Paul Lee]

Actually, I have also been thinking, a lot of these trusts and REITs are coming to Singapore to list because we are flush with liquidity and the market is hot for yields. Exactly like the period when the China companies started listing in Singapore.

Anything packaged as a REIT/Trust immediately gets attention. I think we need to look behind the curtain/under the skirt!

I dun think liquidity is the only reason why business trusts are sprouting on SGX. If I'm not mistaken, I think we are one of the few exchanges with a regime for business trusts (probably the only one in this region)

I mean, think about it, if you were Li Ka-shing, why would you choose to list HPH on SGX instead of HKeX? Becos HKeX does not have a regime for business trust. So companies looking to package exotic assets like airplanes, ports, hospitals etc. have very few choice. One of these is to package the assets into a business trust for listing.

I feel a question on REIT vs BizTrust coming, so I'm pre-empting with this wonderful summary:



Pay particular attention to gearing limit and dividend distribution. Good luck!

Needless to say. Not applying; but open to stagging.

 

[matrix05]

I dun think liquidity is the only reason why business trusts are sprouting on SGX. If

Needless to say. Not applying; but open to stagging.

Paul, what is stagging? Same as shagging? I check online dict and got this: 2. An animal, especially a pig, castrated after reaching sexual maturity.
And u got a smiley after adding to the intrigue.

 

[Dividends Warrior]

Paul, what is stagging? Same as shagging? I check online dict and got this: 2. An animal, especially a pig, castrated after reaching sexual maturity.
And u got a smiley after adding to the intrigue.

'Stagging' for IPO means sell on first day for quick profits.

 

[Departure81]

I rather wait for the OUE reit or SPH reit.

 

[koxinga]

yes i am definitely keen on the oue one. they have a strong portfolio there. sph... not so. not enough diversification.