General S-REITs Discussion Thread

[cheong79]

Suntec cd will be good...but can the shop tahan the high rental long run?

Ya that's worry moi. I see alot shopping mall shops having moving out sale. Some are really international brand shop.

 

[mjboon]

Ya that's worry moi. I see alot shopping mall shops having moving out sale. Some are really international brand shop.

Think those shops moving out (around Tower 2, Tower 3) are due to AEI ... Unless you seeing shops moving out in the new zone (Tower 5 & convention).

 

[SpeedingBullet]

A-REIT changing their managers' fees to be more performance-linked, and switches from quarterly distribution to semi-annual distribution w.e.f., FY 14/15.

Performance Fee
Under the Trust Deed, the Manager is entitled to a performance fee equal to a rate of:
(i) 0.1% per annum of the Deposited Property PROVIDED THAT the distributions per Unit
(“DPU”) in such financial year (calculated before accounting for the performance fee)
exceed the DPU in the preceding financial year by at least 2.5% but less than 5.0%

(“Tier 1 Performance Fee”); or
(ii) 0.2% per annum of the Deposited Property PROVIDED THAT the DPU in such Financial
Year (calculated before accounting for the performance fee) exceed the DPU in the
preceding Financial Year by at least 5.0%,

The income available for distribution from China (“China earnings”) can be distributed only after the annual audited financial statements of the relevant China property holding companies have been filed, and corporate taxes paid.

The current practice is to make semi-annual distribution of China earnings as part of A-REIT’s second and fourth quarter distribution. This has resulted in unnecessary volatility in quarterly DPU, which is expected to increase as A-REIT grows its presence in China.

By changing A-REIT’s distribution frequency to a semi-annual basis, the Manager believes that A-REIT can mitigate this issue of volatility in quarterly DPU and also achieve savings in cost and administration efforts.

 

[simon_84]

A-REIT changing their managers' fees to be more performance-linked, and switches from quarterly distribution to semi-annual distribution w.e.f., FY 14/15.

will remove Areit from my to buy list, don't really like semi annual distribution.

 

[milky25]

for A-Reit, need to scrutinese their provision and its writeback?

 

[wahkao3]

i am hereeeeeeeeeee

 

[cheong79]

i am hereeeeeeeeeee

Ya see you.

 

[chyn_no]

will F&N be split up into different segment (disclaimer)?? or has it already been split and if so.. how will this affect fct?
any comments?

 

[Dividends Warrior]

will F&N be split up into different segment (disclaimer)?? or has it already been split and if so.. how will this affect fct?
any comments?

FCL is now the sponsor of FCT.

 

[dork32]

fct bedok point in some trouble. on sat, they were giving away $10 vouchers with radio 95.8 programme. initially you have to make a purchase before being eligible. because they have some many vouchers left, they started giving vouchers if you are able to produced an ic. still they have vouchers left over.

 

[Bedokian]

fct bedok point in some trouble. on sat, they were giving away $10 vouchers with radio 95.8 programme. initially you have to make a purchase before being eligible. because they have some many vouchers left, they started giving vouchers if you are able to produced an ic. still they have vouchers left over.

That is not trouble. That is called getting rid of surpluses.

 

[dork32]

to me this is real problem. the $10 voucher is real money. you can exchange it for goods and services at the shopping centre. if you were to give just $2 vouchers free at the nearby capmall bedok mall, i believed it will be completely wiped out. furthermore it is a saturday.

 

[teerance85]

I was in Bedok Point last Saturday too, and yeah, there are currently 2 empty spaces on level 1. However, its expected that Bedok Point will face stiff competition once Bedok Mall is done.

However, on the same day, i went to Causeway point too. And boy oh boy, was very impressed with their AEI!

 

[Bedokian]

With the new mall in Bedok, competition is obvious. And since Bedok Mall (BM) is larger than Bedok Point (BP), it is obvious that most people would go for the former due to its size and amneties. And we knew what may happen to larger shopping malls next to smaller ones (a good e.g. - Bugis Junction and the former Ilumna).

So for BP to fight with BM on par, the following may happen:

Spillover effect - some may "spillover" from BM to BP, especially when one can't get seats to an eatery at BM and come over. This one would be beyond the management of BP to control, though they could control tenant mix.

Cinema - an added advantage, though not by much.

Attract a large tenant not found in BM to BP - this will form the "anchor" and in turn people might come over due to its presence.

Repositioning of BP.

Of course, someone had mentioned that BP constitutes only around 6-ish % of the overall FCT, so there might be some economies of scale here at work for the other malls to cover BP's shortfall.

 

[mjboon]

With the new mall in Bedok, competition is obvious. And since Bedok Mall (BM) is larger than Bedok Point (BP), it is obvious that most people would go for the former due to its size and amneties. And we knew what may happen to larger shopping malls next to smaller ones (a good e.g. - Bugis Junction and the former Ilumna).

So for BP to fight with BM on par, the following may happen:

Spillover effect - some may "spillover" from BM to BP, especially when one can't get seats to an eatery at BM and come over. This one would be beyond the management of BP to control, though they could control tenant mix.

Cinema - an added advantage, though not by much.

Attract a large tenant not found in BM to BP - this will form the "anchor" and in turn people might come over due to its presence.

Repositioning of BP.

Of course, someone had mentioned that BP constitutes only around 6-ish % of the overall FCT, so there might be some economies of scale here at work for the other malls to cover BP's shortfall.

And, I believe the management (FCL) should be experienced to deal with this.
I assume, once the nearby construction is done, BP should be easier to walk over from MRT / BM? Pray for the best. Subsequent quarterly result will reveal the situation ...

 

[simon_84]

FCT agm tomorrow morning, planning to take half day go look look see see

 

[Bedokian]

And, I believe the management (FCL) should be experienced to deal with this.
I assume, once the nearby construction is done, BP should be easier to walk over from MRT / BM? Pray for the best. Subsequent quarterly result will reveal the situation ...

BM is literally next to the interchange and MRT. BP is about another 150m away from the MRT, but further from the interchange.

 

[mjboon]

FCT agm tomorrow morning, planning to take half day go look look see see

Ask them on their strategy for Bedok Point?
Will they distribute Bedok Point gift voucher as their AGM door gift?

 

[mjboon]

BM is literally next to the interchange and MRT. BP is about another 150m away from the MRT, but further from the interchange.

Ya, was there last week. I mean the walk path to BP is not so "comfortable: bumpy and narrow". Just my feel. Haha

 

[Bedokian]

Ask them on their strategy for Bedok Point?
Will they distribute Bedok Point gift voucher as their AGM door gift?

How about FCM vouchers instead?

Ya, was there last week. I mean the walk path to BP is not so "comfortable: bumpy and narrow". Just my feel. Haha

Once the residences on top of BM is up, it would be clean and green and free from construction barricades. Yup, my indicated distances would stand at that point of time.