Sasseur REIT *Official* (SGX:CRPU)
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Shion
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Sasseur REIT's CFO 'interviewed' by MAS and CAD for probe unrelated to REIT
https://www.theedgesingapore.com/ne...-interviewed-mas-and-cad-probe-unrelated-reit
Xie Jianfeng, CFO of the manager of Sasseur REIT, has been interviewed by authorities as part of an investigation under the Securities and Futures Act.
According to Sasseur REIT, Xie was interviewed by the Monetary Authority of Singapore and the Commercial Affairs Department on Dec 5, "as he appeared to be acquainted with the circumstances of a case being investigated."
According to Sasseur REIT, citing Xie, the probe relates to Xie's personal trading of securities which had occurred before he became an employee of the REIT's manager.
Xie was appointed to his current role on Dec 1 2021. Between May 2018 and Nov 21, he was the general manager of the finance department of the Sasseur Group, sponsor of the REIT.
According to Sasseur REIT's manager, its nominating and remuneration committee is of the view that the investigation has just commenced and no charges have been brought against Xie, who has surrendered his passport to the authorities.
"His roles and responsibilities in the Manager should continue as normal. The board has accepted the recommendation of the nominating and remuneration committee and is of the view that Mr Xie would be able to and shall continue to discharge his responsibilities and duties as CFO to ensure business continuity," the REIT's manager adds.
"The board wishes to highlight that the manager and Sasseur REIT are not under investigation. The operations of Sasseur REIT and the Manager will not be affected by the abovementioned investigation and continues as normal," the REIT's manager says.
Heng that diaper man not around anymore, if not he's gonna cry father cry mother here siah.
Sasseur REIT reports 1QFY2023 DPU of 1.849 cents, 1.5% higher y-o-y
Sasseur REIT CRPU 4.17%
has reported a distribution per unit (DPU) of 1.849 cents for the 1QFY2023 ended March 31, 1.5% higher y-o-y.
The DPU, which doesn’t include the REIT’s retained income of $0.9 million, is the highest DPU for the first quarter since its listing. The REIT retained about 3.8% of its distributable income for working capital purposes.
In RMB terms, the REIT’s entrusted manager agreement (EMA) rental income rose by 7.7% y-o-y to RMB170.6 million ($32.7 million) though EMA rental income in Singapore dollars (SGD) fell by 2.1% y-o-y to $33.1 million as the RMB fell against the SGD.
Under EMA rental income, fixed component income was up by 3% y-o-y to RMB111.9 million while variable component rose by 17.9% y-o-y to RMB58.7 million.
Total outlet sales rose by 17.9% y-o-y to RMB1.29 billion.
Distributable income fell by 4.0% y-o-y to $23.7 million.
See also: OCBC reports record net profit of $1.88 bil for 1QFY2023, 39% higher y-o-y
As at March 31, the REIT’s portfolio occupancy rose by 1.2 percentage points y-o-y but fell by 0.6 percentage points q-o-q to 96.6%. Its weighted average lease expiry (WALE) stood at 2.1 years by net lettable area (NLA).
The REIT’s aggregate leverage stood at 25.7%, down by 1.9 percentage points q-o-q, and is the lowest among the Singapore REITs (S-REITs). Sasseur REIT’s interest coverage ratio stood at 4.1x as at March 31, compared to 4.4x the quarter before. Based on the REIT’s sensitivity analysis, every 50 basis point (bps) shift in interest rates translates to a 0.04 cent change in its DPU per annum (p.a.).
Net asset value (NAV) per unit stood stable q-o-q at 87 cents as at March 31.
See also: Best World announced earnings of $20.5 mil for 1QFY2023, 26.5% down y-o-y
In its release, the REIT is positive about the growing outlet industry in China with macro trends supporting the industry’s long-term growth within the country. Despite the pandemic restrictions, the REIT pointed out that it opened 26 new outlets in FY2022 spanning 2.94 million sqm, which is the highest in 10 years.
After the pandemic, the REIT notes that consumers now prefer high-quality products at a lower cost which bodes well for the industry.
It adds that there is a good growth trajectory for outlets with fewer than 300 in China compared to over 5,600 shopping malls within the country.
In FY2023, the REIT says it intends to focus on managing its assets proactively which includes adjusting its trade mix to capitalise on new consumer trends. Other initiatives during the year includes maintaining its robust balance sheet and aggregate leverage level, as well as acquisitions in some of its target cities in China. It adds that it will be prioritising acquisitions for its Xi’an and Guiyang outlets, where it was granted the right of first refusal (ROFR) by its sponsor.
Sasseur REIT’s DPU will be paid out on June 27.
Units in Sasseur closed 1.5 cents lower or 2.04% down at 72 cents on May 9.
Sasseur REIT CRPU 4.17%
has reported a distribution per unit (DPU) of 1.849 cents for the 1QFY2023 ended March 31, 1.5% higher y-o-y.
The DPU, which doesn’t include the REIT’s retained income of $0.9 million, is the highest DPU for the first quarter since its listing. The REIT retained about 3.8% of its distributable income for working capital purposes.
In RMB terms, the REIT’s entrusted manager agreement (EMA) rental income rose by 7.7% y-o-y to RMB170.6 million ($32.7 million) though EMA rental income in Singapore dollars (SGD) fell by 2.1% y-o-y to $33.1 million as the RMB fell against the SGD.
Under EMA rental income, fixed component income was up by 3% y-o-y to RMB111.9 million while variable component rose by 17.9% y-o-y to RMB58.7 million.
Total outlet sales rose by 17.9% y-o-y to RMB1.29 billion.
Distributable income fell by 4.0% y-o-y to $23.7 million.
See also: OCBC reports record net profit of $1.88 bil for 1QFY2023, 39% higher y-o-y
As at March 31, the REIT’s portfolio occupancy rose by 1.2 percentage points y-o-y but fell by 0.6 percentage points q-o-q to 96.6%. Its weighted average lease expiry (WALE) stood at 2.1 years by net lettable area (NLA).
The REIT’s aggregate leverage stood at 25.7%, down by 1.9 percentage points q-o-q, and is the lowest among the Singapore REITs (S-REITs). Sasseur REIT’s interest coverage ratio stood at 4.1x as at March 31, compared to 4.4x the quarter before. Based on the REIT’s sensitivity analysis, every 50 basis point (bps) shift in interest rates translates to a 0.04 cent change in its DPU per annum (p.a.).
Net asset value (NAV) per unit stood stable q-o-q at 87 cents as at March 31.
See also: Best World announced earnings of $20.5 mil for 1QFY2023, 26.5% down y-o-y
In its release, the REIT is positive about the growing outlet industry in China with macro trends supporting the industry’s long-term growth within the country. Despite the pandemic restrictions, the REIT pointed out that it opened 26 new outlets in FY2022 spanning 2.94 million sqm, which is the highest in 10 years.
After the pandemic, the REIT notes that consumers now prefer high-quality products at a lower cost which bodes well for the industry.
It adds that there is a good growth trajectory for outlets with fewer than 300 in China compared to over 5,600 shopping malls within the country.
In FY2023, the REIT says it intends to focus on managing its assets proactively which includes adjusting its trade mix to capitalise on new consumer trends. Other initiatives during the year includes maintaining its robust balance sheet and aggregate leverage level, as well as acquisitions in some of its target cities in China. It adds that it will be prioritising acquisitions for its Xi’an and Guiyang outlets, where it was granted the right of first refusal (ROFR) by its sponsor.
Sasseur REIT’s DPU will be paid out on June 27.
Units in Sasseur closed 1.5 cents lower or 2.04% down at 72 cents on May 9.
My previous few months REIT buying is starting to pay off. This REIT although got China assets in it I put a gamble. Gearing ratio keep going lower and now trading way below NAV of 0.83 Now wait for Dec 2023 dividend. In contrast that bigger player CapLand China really no eye see sia.
the best is here:
1 of the Main Shareholders:
BlackRock 31 Jan 2024 own : 0.3918% 4,869,3109,800 LOW
its competitors of china-related reits pale in comparison
Achieved FY2023 DPU of 6.249 Singapore cents
Sasseur REIT’s 4Q 2023 DPU Up 8.7% Year-on-Year; Strong Sales Performance Reflects Robustness and Resilience of the Outlet Business
https://investors.sgx.com/company-d...ments?securityCode=CRPU&annc=5FR55TU4SHW0AZVD
https://links.sgx.com/FileOpen/Sass...ment_Date.ashx?App=Announcement&FileID=787158
distributing high DPU
Not only today , it is ALL these while
So much more than SYFE Cash & what FUllerton SGD .... and MOST imptly 4% SA
u cannot use SA on stocks!
for this DBS is overpositive?!?!!! UOB KH is more realistic........
https://alphaedgeinvesting.com/2024...ate-investment-trust-buy-target-price-1-05-2/
1 of the Main Shareholders:
BlackRock 31 Jan 2024 own : 0.3918% 4,869,3109,800 LOW
its competitors of china-related reits pale in comparison
Achieved FY2023 DPU of 6.249 Singapore cents
Sasseur REIT’s 4Q 2023 DPU Up 8.7% Year-on-Year; Strong Sales Performance Reflects Robustness and Resilience of the Outlet Business
https://investors.sgx.com/company-d...ments?securityCode=CRPU&annc=5FR55TU4SHW0AZVD
https://links.sgx.com/FileOpen/Sass...ment_Date.ashx?App=Announcement&FileID=787158
distributing high DPU
Not only today , it is ALL these while
So much more than SYFE Cash & what FUllerton SGD .... and MOST imptly 4% SA
u cannot use SA on stocks!
for this DBS is overpositive?!?!!! UOB KH is more realistic........
https://alphaedgeinvesting.com/2024...ate-investment-trust-buy-target-price-1-05-2/
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the best is here:
1 of the Main Shareholders:
BlackRock 31 Jan 2024 own : 0.3918% 4,869,3109,800 LOW
its competitors of china-related reits pale in comparison
Achieved FY2023 DPU of 6.249 Singapore cents
Sasseur REIT’s 4Q 2023 DPU Up 8.7% Year-on-Year; Strong Sales Performance Reflects Robustness and Resilience of the Outlet Business
https://investors.sgx.com/company-d...ments?securityCode=CRPU&annc=5FR55TU4SHW0AZVD
https://links.sgx.com/FileOpen/Sass...ment_Date.ashx?App=Announcement&FileID=787158
distributing high DPU
Not only today , it is ALL these while
So much more than SYFE Cash & what FUllerton SGD .... and MOST imptly 4% SA
u cannot use SA on stocks!
for this DBS is overpositive?!?!!! UOB KH is more realistic........
https://alphaedgeinvesting.com/2024...ate-investment-trust-buy-target-price-1-05-2/
No offense.
You remind me of a supporter for this reit in the much much earlier post.
Fyi, I am vested in this reit for some time, riding the up and down. Still red ytd. Just collecting dividends.
Anyhow, my Sasseur still in red. Will continue to hold and collect dividend.
All my reits are in red
My syfe reits too in red…..
Not just us-reits, but there r reits who shrank payouts
At least sasseur didnt!!! I am gratefuk
Is the TS still holding this, besides tehsi & me?
Last closing at sgx, most stocks in red:
Today many forsee ifast will surge in price due to: (though ifast is not a reit, just saying)
https://forums.hardwarezone.com.sg/...ficial-sgx-aiy.4886967/page-33#post-151396392
Erm, sorry….
My syfe reits too in red…..
Not just us-reits, but there r reits who shrank payouts
At least sasseur didnt!!! I am gratefuk
Is the TS still holding this, besides tehsi & me?
Last closing at sgx, most stocks in red:
Today many forsee ifast will surge in price due to: (though ifast is not a reit, just saying)
https://forums.hardwarezone.com.sg/...ficial-sgx-aiy.4886967/page-33#post-151396392
Erm, sorry….
acetylcholine
Master Member
- Joined
- Feb 25, 2007
- Messages
- 2,601
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I have a very small exposure but so far I am quite pleased with the performance. I actually do think outlet malls will do better than mid/up-market retail malls given the economic situation in China.
if u have invested in them since their listing:
excld all dilutive rights (based on 10yr rec) , more on CAGR (Compound annual growth rate)
sadly. only for 10 year old or older: sasseur is public on since 2018
but for me i didnt buy Sasseur since their IPO
capitaland intergrated comm trust!!
i felt they are gd but some said they are trust , not reits
excld all dilutive rights (based on 10yr rec) , more on CAGR (Compound annual growth rate)
sadly. only for 10 year old or older: sasseur is public on since 2018
but for me i didnt buy Sasseur since their IPO
capitaland intergrated comm trust!!
i felt they are gd but some said they are trust , not reits
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If it dare happend to sass
Price of it will plummet:
More S-Reits could be at risk of suspending distributions
As at the latest financial results for the financial period ended Dec 2023, six of the 40 S-Reits and property trusts have partly or fully halted distributions to unitholders, amid worsening balance sheet metrics.
https://bt.sg/SGcT
Price of it will plummet:
More S-Reits could be at risk of suspending distributions
As at the latest financial results for the financial period ended Dec 2023, six of the 40 S-Reits and property trusts have partly or fully halted distributions to unitholders, amid worsening balance sheet metrics.
https://bt.sg/SGcT
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