*Official* MasterLeong Thread

[MasterLeong]

even if we throw out the interest rates exposure thingy


look a the price to book value

professional auditors/valuers are saying this hospital is worth 1 million dollars... yet investors are paying 1.4 million dollars for it

will you follow and pay 1.4 times book value too?


for my investing style... I only will pay 1 times book value or less for any reit
if its super blue chip and high quality, I may pay up to 5-10% premium to what the valuers have judged

its always safer to pay a fair price or at a discount


if u like to pay premium to NAV, go ahead~ you take the risk ^_^

 

[MasterLeong]

ughhhhhh still waiting to open account sucks to read and every boat looks gone! but happy for everyone!

go open account with local broker la... if u go to ocbc securities main office at raffles place, say u want a fast/urgent account... next day confirm can trade liao... they will push it out for u, top level service

if u miss the boat.. cannot blame logistical or technical issues, you control your own fate

cheers

 

[wiz]

I think PLife is riding on the fact that healthcare is a necessity and people are willing to pay premium for their quality services in an aging population

 

[Asphodeli]

how come PLife REIT is trading at way above book ah? too many people buy issit?

 

[lewissac]

CCT Skyrocketed to 1.565!!. The best bargain I ever have from 1.520.

 

[MasterLeong]

how come PLife REIT is trading at way above book ah? too many people buy issit?

there will always be stocks that are overvalued and undervalued

Plife reit trades at 40% premium to book because there is too much hyper and positive views on hospital assets

Keppel infra trust also trading at way above book value

I would always avoid overvalued stocks

on the other side of the coin we had blue chip reit like CCT that traded as low as 1.2x when its book value was 1.7x 30% discount to book value.. yet no one dared to buy during that period... many thought the office market was gonna crash big with oversupply

 

[JuzMobile]

http://business.asiaone.com/news/singapore-stresses-under-wealth-worries

Read this article earlier, saw a paragraph with scary hypothetical scenario.

"Bankers worry, for example, that China might target the island nation as it moves to stem outbound capital flows. Or Beijing might let state-owned enterprises default on borrowings from Singaporean banks; loans to customers in Hong Kong and China account for more than 30 per cent of the total at DBS, the Singaporean lender with a market value of $32bil."

Wow, DBS will really be hit jialatz jialatz if this scenario happens.

 

[Layers]

how come PLife REIT is trading at way above book ah? too many people buy issit?

or too little sell

Sent from Sony E6853 using GAGT

 

[MasterLeong]

I have been investing to close to a decade with a proven method of profiting from the stock market and picking good buys

over the last 2 years I have share most of my trades in this forum

I must admit that not all my picks made money

had good trades like ARA/GLP/Banks/KC

had also bad trades like M1/SCI

I am not god, not 100% of my picks sure huat.... but overall I am confident in maintaining my track record

but whenever i make a pick, I will put in written my reasoning and thoughts on why I board the ship


if you cannot write in one simple sentence why you are boarding the ship... then do not board


the purpose of this thread is to share my view/thoughts and hopefully we can all huat together

thanks all for supporting my thread and comeback so far

cheers ^_^

 

[shareholder]

http://business.asiaone.com/news/singapore-stresses-under-wealth-worries

Read this article earlier, saw a paragraph with scary hypothetical scenario.

"Bankers worry, for example, that China might target the island nation as it moves to stem outbound capital flows. Or Beijing might let state-owned enterprises default on borrowings from Singaporean banks; loans to customers in Hong Kong and China account for more than 30 per cent of the total at DBS, the Singaporean lender with a market value of $32bil."

Wow, DBS will really be hit jialatz jialatz if this scenario happens.

Why not reverse the scenario and say that Singapore might target China?

 

[JuzMobile]

Why not reverse the scenario and say that Singapore might target China?

LOL, even my niece also know that SG dont dare to target China.
She was asking me why SG govt cowers when china exert pressure on SG on the military vehicles. Unlike Trump who shoots China for trying to dictate who the US President should or should not talk with. (Trump have direct talks with Taiwan President, Tsai)

 

[Layers]

http://business.asiaone.com/news/singapore-stresses-under-wealth-worries

Read this article earlier, saw a paragraph with scary hypothetical scenario.

"Bankers worry, for example, that China might target the island nation as it moves to stem outbound capital flows. Or Beijing might let state-owned enterprises default on borrowings from Singaporean banks; loans to customers in Hong Kong and China account for more than 30 per cent of the total at DBS, the Singaporean lender with a market value of $32bil."

Wow, DBS will really be hit jialatz jialatz if this scenario happens.

if this happens. Can sweep China company reputation away. Those who borrow them $ will risk getting defaulted if China buay song them

Sent from Sony E6853 using GAGT

 

[MasterLeong]

banks do not lend blindly to listed companies or SOE

example when DBS lent to swiber... a lot of their assets/projects were use as collateral

so when DBS lent to china SOE... their land/assets are also collateralize

however the big risk is a crash in china market

if china market crash like siao.. say 50%

a 1 billion property collateral may only be worth $500 mil... and the 1 bil loan will be at risk

 

[bencheongcm]

Just want to know what is the fair price for PLife REIT is lets say its at book value ?

 

[Genosis]

Just want to know what is the fair price for PLife REIT is lets say its at book value ?

NAV is 1.64

 

[lightchaser]

what u guys think of Fraser commercial ? only 80% Bk value...81% debts hedged...offices in SG and Aussie. earning yield 7.6% vs 5% for CCT

 

[Genosis]

what u guys think of Fraser commercial ? only 80% Bk value...81% debts hedged...offices in SG and Aussie. earning yield 7.6% vs 5% for CCT

Now I see the word 'hedge' I got phobia liao.....

 

[bencheongcm]

NAV is 1.64

Giving me the Toyota = Lexus feel now

 

[dolph001]

All these hedging stuff really confusing.....

Bro, dun mind me asking......so is the 98% hedge by PLife got use or not? Or just pointless?

The Group manages its exposure to interest rate movements on its floating rate loans and borrowings by entering into interest rate swaps. As at the reporting rate, the Group has interest rate swaps with a total notional principal of $485,845,600 (2014: $538,641,600) to provide fixed rate funding for terms of 1 to 5 years (2014: 1 to 6 years) at a weighted average effective interest rate of 0.61% (2014: 0.32%) per annum.

Banks are the main counterparty for interest rate swaps. So I would say the hedges are safe, and effective rate is 0.6% for 98% of their loans.

DK no need worry.

 

[Genosis]

Giving me the Toyota = Lexus feel now

Wa.....u treat 100% occupancy Mt Elizabeth & Gleneagles Hospital like Toyota?!?!?!