Sasseur REIT *Official* (SGX:CRPU)

[dappermen]

cos all Chinese focused on their "Face"? all wanna a piece of luxurious items gotten cheaply! (nevertheless are still real) Tourists also shop @ such premium malls/outlets right ? (not a new article but it is a known fact too https://www.theedgesingapore.com/capital/brokers-calls/sasseur-reit-rides-chinas-love-luxury-goods)

So?
profits and profits for sasseur , cant be their profits are by $ laundering, or CCP been saving/supporting them?

I believed in a market w many players , not 一枝独秀 but 百花齐放
Everyone got a fair share of the whole pie but u have to prove yourself worthy by hook or crook

They won so much trophies: ref to their booklet/joint sttm mailed to your home

https://links.sgx.com/FileOpen/Sasseur_REIT-Annual_Report_FY2021.ashx?App=Announcement&FileID=708905

Nt ez as the pandemic made everything much more challenging: b it in china or sg…Sasseur REIT Wins Highly Esteemed Corporate Excellence And Resilience Award At Singapore Corporate Awards And Two Awards At The Global Good Governance Awards​

https://investor.sasseurreit.com/news.html/id/2362407

and i m sorry hor, it is an drop in DPU hor: nvm so long they prove what they r working on... i didnt complain & i believe it will continue to drop! and i read sometime ago they r planning some acquisition, sorry i couldnt find them now

Sasseur Reit posts 1.8% drop in Q4 DPU to S$0.019 after retention​

https://www.businesstimes.com.sg/co...ts-18-drop-in-q4-dpu-to-s0019-after-retention

 

[dappermen]

The sasseur reit only have 4 mall how does it pay so much yield?

even with limited properties in sg comparatively, your love with Starhill will not be downgraded right?

i dont think that has anything to do with no. of properties

 

[dappermen]

there is a thread on Starhill too
but anyway coincidentally all of u discuss about starhill @demoforce1
just cos it is the world of Retail now? many ctries opening up?

Not china yet, hence sass has LOTs more potential

Ya. That why I still have starhill global in my stock profile

 

[dappermen]

based on the SGX exchange:

Guess which r the top few reits gainer that often appeared on the billboard??
https://www.moomoo.com/community/feed/108124115959814


It wont b certain big names of cos(unless u r referring to the top losers instead)
& another:
https://www.moomoo.com/community/fe...&data_ticket=8cbaad1a972a1ae75b755cc96610ae20

 

[dappermen]

During its results briefing, Cecilia Tan, CEO of Sasseur REIT’s manager, says: “Refinancing is well underway.” The ideal outcome would be a refinancing, and an acquisition, most probably, the sponsor’s outlet mall in Xi’an, which she says “is quite stabilised and growing. There is a good possibility of doing accretive deals at the right price and with the capital market at the right [level]”.


Instead of buying interest, Chinese S-REITs have experienced selling, and are trading at significant discounts to their net asset values (NAVs) and at relatively higher yields than their Singapore peers. Yet, in general, the Chinese S-REITs’ distribution per unit (DPU) has either risen or stayed resilient.

 

[dappermen]

(sorry abit slow in posting this )
S-Reits have been actively managing their interest rate exposures in the midst of Fed hikes....

On average, close to 75 per cent of S-Reits' current debts are entered directly in fixed rates or hedged through floating-to-fixed interest rate swaps.

S-Reits currently have an average gearing ratio of 37.4 per cent, based on latest company filings, well below the regulatory threshold of 50 per cent.

The five S-REITs that maintain the lowest gearing ratios are Sasseur REIT, Digital Core REIT, SPH REIT, IREIT Global and Lendlease Global Commercial REIT. Sasseur REIT reported a gearing of 26.1 per cent as of 31 Dec 2021, lowest amongst all S-REITs.

The Reit noted that this demonstrated strong fundamentals of the portfolio as well as prudent capital management, with an expanded debt headroom to pursue potential acquisition opportunities.

With an average debt maturity of 1.2 years as at Dec 31, 2021, the Reit is actively exploring refinancing opportunities with a view to de-risk the current debt profile by staggering its debt maturity and amount.

Sasseur Reit posted FY2021 distribution per unit (DPU) of 7.104 Singapore cents, up 8.5 per cent year on year. The Reit's 4 outlets in China recorded total sales of almost 4.2 billion yuan in FY2021, representing a growth of 12.3 per cent year on year.

The Reit also observed continued robust consumption trends in the cities where its outlets are located, coupled with intensive promotional efforts in close collaboration with tenants which led to the higher sales.

https://www.sgx.com/research-educat...h-s-reits-hedge-against-rising-interest-rates
https://www.businesstimes.com.sg/companies-markets/s-reits-hedge-against-rising-interest-rates-0

 

[dappermen]

UOBKH's Weekly top pick (as alwys consistent): any1 disagree? It has to be a Sassy stock or the Knock-all-of-u-out Kepac, not KDC (that shucks big time)

 

[snowcrabramyeon]

https://investor.sasseurreit.com/news.html/id/2387203
DPU 1.822 cents

 

[dappermen]

really gd gem!

to understand sasseur:
https://us06web.zoom.us/webinar/register/WN_EFSqhRzeTVWK4G9z9H0kYAi emailed Sasseur to asked some qns on WALE, they instantly responded me!!!!!!!!! sadly not the other Reits!

https://www.theedgesingapore.com/ca...dd-sasseur-reit-light-higher-occupancy-levels

 

[dappermen]

https://www.linkedin.com/posts/sass...?utm_source=linkedin_share&utm_medium=ios_app
the Manager has been actively discussing with various lenders to refinance the loan, and aims to de-risk the current debt profile by staggering its debt maturity and amount. sassy sasseur target to complete the refinancing exercise by end of 2022, ahead of the March 2023 maturity. It is to note that Sasseur REIT continues to maintain a low gearing ratio of 26.2%, allowing us ample debt headroom to support future growth!

hope to see gem grows into diamond!

dont ever turn out to b the fate of some lowly

 

[TehSi99]

https://www.linkedin.com/posts/sass...?utm_source=linkedin_share&utm_medium=ios_app
the Manager has been actively discussing with various lenders to refinance the loan, and aims to de-risk the current debt profile by staggering its debt maturity and amount. sassy sasseur target to complete the refinancing exercise by end of 2022, ahead of the March 2023 maturity. It is to note that Sasseur REIT continues to maintain a low gearing ratio of 26.2%, allowing us ample debt headroom to support future growth!

hope to see gem grows into diamond!

dont ever turn out to b the fate of some lowly

Means starting March 2023, Sasseur will be paying a higher interest for their loans. Hope this will have minimal impact to their DPU in 2023.

 

[dappermen]

No, nothing is sealed in concrete at this point

 

[dappermen]

https://www.linkedin.com/posts/sass...=linkedin_share&utm_medium=member_desktop_web

 

[TehSi99]

Price went up today.
Should have nibble abit last week.

 

[dappermen]

it is still a gem!!!!!!!! no matter how others looked @ it, and current price is still very "affordable"

i got it MUCH more higher

Cheap is never gd, eg many Maples fell and tumbled from their grace, hated their cheapness


sadly u r the only rare who appreciates! but u got classy sassy eyesight? u wash with what? lol? shamp?
Look @ the top few
Ownership: Ifast is not unknown, Philip & maybk too ..........i wish i m YangXue!!!!!!!!!!!!!!!!!!!!! so rich, i wish i can buy more, never mind it is at 90c

Main Shareholders	Type	Holdings Date	Percent of shares held	Number of shares held	Change	Turnover rating
Sasseur Cayman Holding Ltd.	Corporation	24 Mar 2022	56.2377%	687,339,828	5,086,150	-
Yang (Xue)	Individual Investor	24 Mar 2022	0.9109%	11,132,900	0	-
IFast Financial Pte Ltd.	Corporation	02 Mar 2022	0.5864%	7,166,900	1,791,900	LOW
Maybank Asset Management Singapore Pte. Ltd.	Investment Advisor/Hedge Fund	31 Jul 2021	0.5027%	6,143,500	1,584,900	MED
Phillip Capital Management (S) Ltd.	Investment Advisor	30 Apr 2022	0.4539%	5,546,982	352,550	LOW

how does Ifast/FSM earns and what will improve Ifast stk pr?
U think it is by earning more commission fr their investors? or their projs at hk msia?
dont be naive!
Sorry my top 2 brokers, wont be an ifast/fsm too!
many suckers for IBKR, moo and the animal brokers (u shd knw which ones)

 

[dappermen]

Brokers and analysts are paid to do a gd job (not free commissions like Moo or the Pets)
There is a telegrm by UOB KH with all the TA that some of u love too!!!!!!!!!!

https://mcusercontent.com/ccf83de3f...il&utm_term=0_d59b491060-d21299d2e5-225545766

Anyone felt TA expert like UOB someding dong when they alwys showcase Shampoo stks?
All of us damned bz , hence UOB is there to TA for us & to analyse for us!
Dont hve to believe fully, u lower their TP!
(when i didnt share it is alwys abt the same hence i didnt )

 

[Andrew833]

it is still a gem!!!!!!!! no matter how others looked @ it, and current price is still very "affordable"

i got it MUCH more higher

Cheap is never gd, eg many Maples fell and tumbled from their grace, hated their cheapness


sadly u r the only rare who appreciates! but u got classy sassy eyesight? u wash with what? lol? shamp?
Look @ the top few
Ownership: Ifast is not unknown, Philip & maybk too ..........i wish i m YangXue!!!!!!!!!!!!!!!!!!!!! so rich, i wish i can buy more, never mind it is at 90c

Main Shareholders	Type	Holdings Date	Percent of shares held	Number of shares held	Change	Turnover rating
Sasseur Cayman Holding Ltd.	Corporation	24 Mar 2022	56.2377%	687,339,828	5,086,150	-
Yang (Xue)	Individual Investor	24 Mar 2022	0.9109%	11,132,900	0	-
IFast Financial Pte Ltd.	Corporation	02 Mar 2022	0.5864%	7,166,900	1,791,900	LOW
Maybank Asset Management Singapore Pte. Ltd.	Investment Advisor/Hedge Fund	31 Jul 2021	0.5027%	6,143,500	1,584,900	MED
Phillip Capital Management (S) Ltd.	Investment Advisor	30 Apr 2022	0.4539%	5,546,982	352,550	LOW

how does Ifast/FSM earns and what will improve Ifast stk pr?
U think it is by earning more commission fr their investors? or their projs at hk msia?
dont be naive!
Sorry my top 2 brokers, wont be an ifast/fsm too!
many suckers for IBKR, moo and the animal brokers (u shd knw which ones)

100% debts mature on March 2023 - S$517 mil.
Lease Expiry take 3 months to reduce from 51% to 44.2%.
Wish you good luck.

 

[dappermen]

thank u for your well wishes, post it to the major shareholders bah!


I do not blame others: (many assumed and apply their expertise and forumla onto EVERYONE and everything)
cos
In Sg, our old education system trained us to think like a mould/mold, all produce with a same mindset, love to assume?


This is not sg or the typical reits which some have assumed:

Sasseur outlets’ tenancies are sales-based leases whereby the tenants pay an agreed percentage of their sales revenue as turnover rent.

Sasseur’s outlets business in China is unique, – typically we have more brands wanting to lease space than wanting to leave. Secondly, we do not collect rent but a commission on sales from our brand tenants which occupy close to 90% of the entire leased space. Our lease periods are deliberately short, and our Weighted Average Lease Expiry (“WALE”) period is 2.9 years by Net Leasable Area (“NLA”) and only 1.0 year by property income

Deliberately short leases allow us to review tenant sales performances more frequently, and stop leasing to tenants that are not doing well, as well as adjust commission rates we collect from tenants that are doing well...
Ref pt 6 - https://investor.sasseurreit.com/newsroom/20200617_074142_CRPU_E0G4T7GRH32155KO.2.pdf




ref to pt4 also : https://investor.sasseurreit.com/newsroom/20220414_173123_CRPU_26D4ZYLDPUMQBC84.1.pdf

The length of the leases is kept short to facilitate the outlets in adjusting the tenancy or trade mix swiftly to adapt to fast-changing consumer preferences in China by replacing underperforming tenants quickly. As such, a relatively shorter WALE allows the outlets to achieve a fine balance between tenants’ retention, early action to re-position the outlets as well as securing a new desired trade mix.
(Shorter leases are a core leasing feature of Sasseur REIT’s outlets as more than 90% of the outlets’ tenancies are sales-based leases whereby the tenants pay an agreed percentage of their sales revenue as turnover rent. This lease structure fully aligns the interests of the tenants with the outlets as landlords, and allows the outlets to enjoy higher turnover rent in line with higher sales achieved by the tenants. The outlets are also able to assess the performance of the tenants by monitoring their sales over time.)


there is only 1 hwz pointed this out to me before !! He mentioned it was a unique Structure! (Sorry i cannot find his comment now, he mentioned it not in this thread)
Was awaiting for all the other Sassy stock investors to respond but waited for so long!!!

 

[Andrew833]

thank u for your well wishes, post it to the major shareholders bah!


I do not blame others: (many assumed and apply their expertise and forumla onto EVERYONE and everything)
cos
In Sg, our old education system trained us to think like a mould/mold, all produce with a same mindset, love to assume?


This is not sg or the typical reits which some have assumed:

Sasseur outlets’ tenancies are sales-based leases whereby the tenants pay an agreed percentage of their sales revenue as turnover rent.

Sasseur’s outlets business in China is unique, – typically we have more brands wanting to lease space than wanting to leave. Secondly, we do not collect rent but a commission on sales from our brand tenants which occupy close to 90% of the entire leased space. Our lease periods are deliberately short, and our Weighted Average Lease Expiry (“WALE”) period is 2.9 years by Net Leasable Area (“NLA”) and only 1.0 year by property income

Deliberately short leases allow us to review tenant sales performances more frequently, and stop leasing to tenants that are not doing well, as well as adjust commission rates we collect from tenants that are doing well...
Ref pt 6 - https://investor.sasseurreit.com/newsroom/20200617_074142_CRPU_E0G4T7GRH32155KO.2.pdf




ref to pt4 also : https://investor.sasseurreit.com/newsroom/20220414_173123_CRPU_26D4ZYLDPUMQBC84.1.pdf

The length of the leases is kept short to facilitate the outlets in adjusting the tenancy or trade mix swiftly to adapt to fast-changing consumer preferences in China by replacing underperforming tenants quickly. As such, a relatively shorter WALE allows the outlets to achieve a fine balance between tenants’ retention, early action to re-position the outlets as well as securing a new desired trade mix.
(Shorter leases are a core leasing feature of Sasseur REIT’s outlets as more than 90% of the outlets’ tenancies are sales-based leases whereby the tenants pay an agreed percentage of their sales revenue as turnover rent. This lease structure fully aligns the interests of the tenants with the outlets as landlords, and allows the outlets to enjoy higher turnover rent in line with higher sales achieved by the tenants. The outlets are also able to assess the performance of the tenants by monitoring their sales over time.)


there is only 1 hwz pointed this out to me before !! He mentioned it was a unique Structure! (Sorry i cannot find his comment now, he mentioned it not in this thread)
Was awaiting for all the other Sassy stock investors to respond but waited for so long!!!

"Our lease periods are deliberately short, and our Weighted Average Lease Expiry (“WALE”) period is 2.9 years"
Lease Expiry take 3 months to reduce from 51% to 44.2%. - this lease expiry at the end of 2022, 6 months only not 2.9 years!

 

[dappermen]

erm ie taken from AGM 2019 leh , if u have NOT read the whole report, then do NOT engage me in a discussion , i m afraid i didnt even tag u at all, So sorry to say and i didnt even wanna reply to all responses that are not meaningful at all (1 who is not even vested yet keep coming here to troll , jestering at others misfortune) I m very puzzled we the investors are not even worried and we dig a path for outsiders to come in and lecture us?


So you are saying Sasseur has lease all ending 6-7mths? All the tenants will vacate by End of the year What kind of a joke u r SProuting?? so after 6mths ,, the whole sasseur will go bkrupt? How do you know they are lazing around not renewing contracts now? they are all sitting around and await for collapsing?

and at every mins/seconds, new tenancy agreemts/contracts are topped up!
A balance sheet/financial report is only stagnant till the time of auditing/reporting, isnt it?


UOB having fantasies by spurning nonsense? If onehas the time to spot grave error or mistake shd report it to MAS instantly , rather than letting the hole gets bigger like a hyflux?

UOB is there to TA for us & to analyse for us!
Dont hve to believe fully, u lower their TP!
(when i didnt share it is alwys abt the same hence i didnt )