MapleTree NAC Trust

[mata_hippo]

take the drip like not worth it since it's now hovering around the drip price, see how end of month...

the last drip i ended up getting 105 instead of 100, duno where calculate wrong

 

[lzydata]

Just receive the DRP notice, for long term advice is to get new units or take cash?

If you are asking what is going to happen to the price in the short term, well, who knows - we can see that the price has dropped a bit and is only slightly above DRP issue price now.

The most recent reported NAV as of end March was $1.274, which is quite a bit lower than what the REIT was at its peak, but there is still a sizeable gap between price and book. By holding on to your units, I assume you are still positive on its prospects. So you might choose to take a portion of your allotment as new units, and take the chance to round up your holding.

 

[mata_hippo]

if i wan 95, wad number shld i enter ah? based on the formula, i can enter from 3026 to 3058 to get 95...

Those who are drpping, here are the units you need to get round lots

3198 54+46=100
6342 109+91=200
9525 163+137=300
12684 218+182=400
15851 272+228=500
19025 327+273=600

hope this helps

 

[lzydata]

if i wan 95, wad number shld i enter ah? based on the formula, i can enter from 3026 to 3058 to get 95...

You should take the minimum number you need to receive the number of new units you want i.e. 3026.

This is because, whatever number from 3026 to 3058 you enter, you will get 95 new units and cash of (total holdings - that number) x $0.03299.

Putting it another way, your cost per new unit is 3026 x $0.03299 / 95 = $1.0508. If you pick 3058, its 3058 x $0.03299 / 95 = $1.0619. You are paying a bit more for each new unit.

 

[Shion]

Mapletree North Asia Commercial Trust to buy building housing HP Japan HQ for 38.8b yen​

https://www.businesstimes.com.sg/co...-to-buy-building-housing-hp-japan-hq-for-388b
MAPLETREE North Asia Commercial Trust has entered into an agreement to buy almost the entire stake in a freehold single-tenanted office building in Tokyo, now used as Hewlett-Packard Japan headquarters.

Mapletree North Asia Commercial Trust Management, manager of the real estate investment trust (Reit), announced in a regulatory filing on Friday the purchase of an effective interest of 98.47 per cent in the building for 38.8 billion yen (S$467.3 million) from an unrelated third-party vendor.

The balance effective interest of 1.53 per cent in the property will be held by Mapletree Investments Japan Kabushiki Kaisha, an indirect wholly-owned subsidiary of Mapletree Investments, the Reit's sponsor.

The property is 100 per cent leased to Hewlett-Packard Japan and has a lease expiry of 8.8 years.

The Reit manager stated the acquisition is expected to provide a stable income stream for the Reit, as well as be accretive in terms of distribution per unit.

The assets under management of the enlarged portfolio will stand at S$8.4 billion, or an increase of 6 per cent from that of the existing portfolio of S$7.9 billion.

Contribution from Japan will increase from 16.6 per cent to 21.3 per cent by assets under management, or increase from 22.4 per cent to 26.7 per cent by net property income.

The manager intends to finance the purchase and relevant costs through a combination of debt financing and the issuance of perpetual securities. Aggregate leverage post acquisition is expected to be 41.9 per cent, up marginally from 41.5 per cent now.

Completion is subject to the conditions being fulfilled and is expected to take place by June 30.

The Reit rose 0.98 per cent to S$1.03 on Friday, before this announcement was made.

 

[TehSi99]

Price has been quite stable for many weeks. Hope this news can moved the price.

 

[endlssorrow]

I always waiting for hk to stable down first before hoot this.. now this Reit getting to japan

hahahah

 

[TehSi99]

What is the work culture in Japan? Employers want their employees to work in office?

 

[starbugs]

The gearing ratio for this is getting a bit too high for comfort.

 

[TehSi99]

The gearing ratio for this is getting a bit too high for comfort.

Agreed. Once interest rate increase, there could be problems.

 

[endlssorrow]

By the time interests really rise u guys already sold liao

hahaha

 

[bluevalley2000]

I always waiting for hk to stable down first before hoot this.. now this Reit getting to japan

hahahah

HK quite stable now right?

 

[TehSi99]

By the time interests really rise u guys already sold liao

hahaha

Not sure.

US release news interest hike. Sometimes STI market open already affected. For slow people like me only see price drop and then ask "why ah?"

 

[endlssorrow]

HK quite stable now right?

Haven stable, their riot is there right just that now cov19

mall market price too high.. very unreasonable though

hahahahaha

 

[Sadisticnoob]

Not sure.

US release news interest hike. Sometimes STI market open already affected. For slow people like me only see price drop and then ask "why ah?"

They need to print 6T . Interest rate to remain low for the next few years

 

[TehSi99]

They need to print 6T . Interest rate to remain low for the next few years

Need to see if commercial office rents for this reits can fly. Seems japanese are working from home currently though i do not know the percentage.

 

[Andrew833]

The gearing ratio for this is getting a bit too high for comfort.

Just a little higher as compare to before acquiring the new property.

 

[Ch3tah_39]

Need to see if commercial office rents for this reits can fly. Seems japanese are working from home currently though i do not know the percentage.

The new office building they acquired is HP Japan office right? With lease of 8.8yrs. So can we say that in such situation will not have any positive reversion but at least got rental?

 

[Shion]

Continue to 'add' Mapletree North Asia Commercial Trust as it expands Japan footprint: CGS-CIMB​

https://www.theedgesingapore.com/ca...a-commercial-trust-it-expands-japan-footprint
CGS-CIMB Research is positive on Mapletree North Asia Commercial Trust’s (MNACT) announcement on its acquisition of a freehold office building in Tokyo for an agreed value of $474.7 million.

CGS-CIMB analysts Lock Mun Yee and Eing Kar Mei are upbeat on the deal as it will “deepen MNACT’s footprint in the more stable Japan market”. “According to property consultant JLL K.K., the Japan office market continues to have one of the widest yield spreads over its 10-year government bond yield, compared to other Asia markets,” they point out.

Post-acquisition, Japan will make up 27% and 21% of the expanded net property income and asset under management base for the REIT.

Lock and Eing also favourably view the fact that the building is fully leased out to Hewlett-Packard Japan (HPJ), which will boost its tenant base within the IT sector. “Post-acquisition, HPJ is expected to be the third-largest tenant, by gross rental income, in MNACT’s enlarged portfolio,” they note.

Post-acquisition, MNACT’s portfolio occupancy is expected to increase to 97.2%, while weighted average lease expiry (WALE) is extended to 2.6 years.

MNACT is funding the acquisition through a combination of debt and the issuance of perpetual securities.

Lock and Eing also highlight that the transaction will be distribution per unit (DPU) accretive. “Based on an initial net property income yield of 3.6%, the proforma DPU accretion is estimated to be 2.4%, assuming a 49%/51% debt/perpetual securities funding combination,” they note.

The analysts have kept their DPU estimates for FY2022-FY2024 ending March unchanged, pending more details on the perpetual securities issuance.

To that end, they have maintained their ‘add’ rating for MNACT with an unchanged target price of $1.15.

As at 4.09pm, units in MNACT are trading flat at $1.03.

 

[peppermint7]

Anyone has your DRIP miscalculated? I applied for 3200 in units expecting to get 101 to make up the shortfall of previous DRIP. Instead. I gotten 202 shares instead of 101 shares..

Of course they also deduct away that extra 101 units in my cash payout lah. Sad..