| Latest Forum Topics / Fortune Reit HKD |
 Post Reply
|
|
Fortune Reit (HK)
|
|||||
|
sgnewbie
Master |
08-Oct-2012 13:16
|
||||
|
x 0
x 0 Alert Admin |
http://sgxreports.blogspot.sg/2012/10/fortune-reit.html | ||||
| Useful To Me Not Useful To Me | |||||
|
sgnewbie
Master |
31-Aug-2012 13:53
|
||||
|
x 0
x 0 Alert Admin |
http://sgxreports.blogspot.sg/2012/08/fortune-real-estate-investment-trust_31.html | ||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
sgnewbie
Master |
08-Aug-2012 14:57
|
||||
|
x 0
x 0 Alert Admin |
http://sgxreports.blogspot.sg/2012/08/fortune-real-estate-investment-trust.html | ||||
| Useful To Me Not Useful To Me | |||||
|
sgnewbie
Master |
23-Jul-2012 12:10
|
||||
|
x 0
x 0 Alert Admin |
http://sgxreports.blogspot.sg/2012/07/fortune-real-estate-investment-trust_23.html | ||||
| Useful To Me Not Useful To Me | |||||
|
sgnewbie
Master |
06-Jul-2012 06:41
|
||||
|
x 0
x 0 Alert Admin |
http://sgxreports.blogspot.sg/2012/07/fortune-real-estate-investment-trust.html | ||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
sgnewbie
Master |
04-Jun-2012 13:47
|
||||
|
x 0
x 0 Alert Admin |
http://sgxreports.blogspot.sg/2012/06/fortune-real-estate-investment-trust.html | ||||
| Useful To Me Not Useful To Me | |||||
|
sgnewbie
Master |
11-May-2012 12:45
|
||||
|
x 0
x 0 Alert Admin |
http://sgxreports.blogspot.com/2012/05/fortune-real-estate-investment-trust.html | ||||
| Useful To Me Not Useful To Me | |||||
|
sgnewbie
Master |
12-Apr-2012 10:45
|
||||
|
x 0
x 0 Alert Admin |
OCBC Report http://sgxreports.blogspot.com/2012/04/fortune-reit.html |
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
sgnewbie
Master |
30-Mar-2012 12:16
|
||||
|
x 0
x 0 Alert Admin |
OCBC on Fortune REIT http://sgxreports.blogspot.com/2012/03/fortune-reits.html |
||||
| Useful To Me Not Useful To Me | |||||
|
marubozu1688
Veteran |
22-Mar-2012 14:33
|
||||
|
x 0
x 0 Alert Admin |
Fortune REIT - A good bet? Undervalue and may be breaking out soon! http://mystocksinvesting.com/singapore-stocks/fortune-reit-hk/fortune-reit-undervalue-reit-for-dividend-investing/ |
||||
| Useful To Me Not Useful To Me | |||||
|
sgnewbie
Master |
14-Mar-2012 10:59
|
||||
|
x 0
x 0 Alert Admin |
OCBC on Fortune Reits http://sg-shares.blogspot.com/2012/03/fortune-reit.html |
||||
| Useful To Me Not Useful To Me | |||||
|
marubozu1688
Veteran |
08-Nov-2011 21:40
|
||||
|
x 0
x 0 Alert Admin |
Quite surprise to find Fortune REIT HK$ is so undervalue. http://mystocksinvesting.com/singapore-stocks/first-reit/fortune-reit-fundamental-chart-analysis/ |
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
a06724
Member |
10-Nov-2010 16:14
Yells: "Huat ah...." |
||||
|
x 0
x 0 Alert Admin |
Huat ah.... http://sbr.com.sg/property/news/fortune-reit-finishes-strong-in-3q-revenue-income-235 Fortune REIT finishes strong in 3Q, revenue income up by 23.5%Fortune REIT’s revenue income stands at K$619.5 million while distributable income consequently grew by 23.8% to HK$300.8 million. "Our portfolio continued to deliver strong and sustainable growth following the first half results… Fortune REIT's proactive leasing efforts resulted in occupancy rate reaching 98.0%, surpassing the previous high set in the first quarter. Rental reversion remained strong at 10.5%," said Anthony Ang, Chief Executive Officer of ARA Asset Management Limited, the Manager of Fortune REIT. "With local consumption continuing to strengthen, Hong Kong retail sales registered 13 consecutive months of year-on-year increases from September 2009 to September 2010. The latest figures for the first 9 months of 2010 saw the value of Hong Kong retail sales increased by 17.9% over the same period a year ago. As local consumer sentiment remained firm on the back of rising income, better job prospects and recovery in the stock market, this will give fresh impetus to the performance of Fortune REIT's portfolio,” Ang added. The portfolio occupancy rate climbed to a new high of 98.0% since Fortune REIT was founded in 2003. Eight of fourteen properties were fully occupied, with five other malls achieved higher quarter-on-quarter occupancies. As most of the properties are close to or at full occupancy, the Manager will focus on the leasing and tenant repositioning strategy going into 2011, particularly at Ma On Shan Plaza and The Metropolis Mall, where around 50% of the tenants will be up for renewal. Tenants have also started moving in to the newly renovated Ngan Shing Commercial Center (NSCC) from September 2010 onwards. Committed occupancy for NSCC was 100% as at 30 September 2010, which effectively boosted the committed occupancy for City One Shatin Property to 98.6% (current occupancy: 93.2%). The two ParknShops (formerly one ParknShop at each side of NSCC and City One Plaza ("COP")) have now merged into a new ParknShop Superstore at NSCC and becomes the only supermarket serving over 10,000 households in City One Shatin. Not only does it offer more variety of goods to City One Shatin's residents, it also brings substantial footfall to NSCC. The former ParknShop space at COP is now being subdivided for higher paying tenants. |
||||
| Useful To Me Not Useful To Me | |||||
|
gutman
Member |
30-Aug-2010 16:05
|
||||
|
x 0
x 0 Alert Admin |
Fortune REIT: Overlooked HK trust is bigger and more liquid - Article from The Edge WRITTEN BY GOOLA WARDEN MONDAY, 23 AUGUST 2010 16:56 Fortune REIT was ahead of its time when it listed in Singapore in 2003. The local real estate investment trust sector was in its infancy and the market had yet to fully understand CapitaMall Trust — the largest and most successful homegrown REIT — let alone a REIT holding marginal shopping malls and car parks in Hong Kong. As a result, trading in Fortune REIT units soon became thin and its yields climbed to 8% to 9%, among the highest in the market. That made it hard for it to raise money and acquire more properties in yield-accretive terms. And, it made it tough for the REIT to refinance its maturing debt during the credit crunch. Source: Bloomberg John Lim, CEO of ARA Asset Management, thinks Fortune REIT has turned the corner, though. ARA is the manager of Fortune REIT, and helped steer it through a deeply discounted rights issue and injection of assets in the wake of the financial crisis. As a result, Fortune REIT has not only solved its debt problems but is also significantly larger than before, Lim says. And, with a dual-listing in Hong Kong since April, the REIT is building up an investor following in a market where its assets are better understood. Now, units in Fortune REIT are trading at 6.6%, a much lower yield than before. But Lim thinks the yield could decline further, towards Link REIT’s 4.4%. “Our assets are just as good if not better than theirs,” Lim declares during a recent interview. Link REIT is Hong Kong’s largest, with its 10.8 million sq ft of property worth more than HK$53 billion ($9.2 billion) and a market capitalisation of HK$48 billion. By contrast, Fortune REIT owned two million sq ft of property, valued at HK$12.4 billion as at June 30. Furthermore, its market cap at HK$6 billion is just a tenth the size of Link REIT’s. Even if Lim is overstating Fortune REIT’s potential, he is probably right about its being in a much stronger position now. Ironically, it might not have happened had the REIT not been confronted with the looming refinancing of a commercial mortgage-backed security (CMBS) of HK$2.35 billion during the credit crunch. With borrowing costs soaring, Fortune REIT would have suffered a drop in distributions per unit (DPUs) if it had done straight refinancing, officials at ARA say. That left it little choice but to turn to its shareholders, which included Hong Kong property giant Cheung Kong Holdings. In August 2009, Fortune REIT said it would purchase three properties for HK$2.04 billion — two of which were linked to Cheung Kong — which would expand its portfolio by 20%. The price tag was a 1.5% discount to their valuation, and the acquisition price equated to a yield of just 5.1%, much lower than the REIT’s own distribution yield of about 9%, according to a report by Macquarie Research at the time. To fund the acquisition, Fortune REIT launched a rights issue to raise HK$1.8 billion. The onefor- one rights issue, completed in October that year, was priced at HK$2.29 a unit, a 44.1% discount to its price that August. The result was that Fortune REIT’s distributable income would rise 25% to $380 million on a pro-forma basis. But its DPU would fall from 37.02 HK cents a unit to 22.97 HK cents a unit, and its distribution yield would fall to 7.2% from 9%. Despite the dilution, officials at ARA insist that Fortune REIT is better off than it otherwise would have been. “If we just did the refinancing, the yield was going to drop because the stock was illiquid,” says Vincent Yeo, finance manager at ARA. “This exercise enlarged the share base, and allowed us to acquire properties and perform a dual listing, so the illiquidity discount is reduced.” While the dilution has partly contributed to Fortune REIT’s lower yield now, the strong investor interest is helping too. In fact, analysts see scope for Fortune REIT’s revenues and DPUs to rise on the back of higher rents and asset-enhancement initiatives (AEIs). Analysts estimate that 75% of the REIT’s net property income is slated to come from its four biggest malls by 2011. They are City One Shatin, Ma On Shan Plaza, Metro Town and The Metropolis Mall. City One Shatin is undergoing AEI with a capital expenditure of HK$30 million. Phase 1 will be ready by end-September, after which the REIT might see stronger revenues from the property. Meanwhile, Ma On Shan Plaza and The Metropolis Mall will see 48% and 45% of leases expiring in 2011 respectively, which provides the REIT with the opportunity to negotiate higher rents. Higher incomes will translate into higher capital values for the 14 malls that Fortune REIT owns. Already, Macquarie notes that its net asset value (NAV) per share of HK$5.70 as at June 30 was 10% higher than at Dec 31. “The strong recovery in asset values has surprised us and we have therefore re-visited our valuation and have revised our price target, up 19.5% to HK$4.36 a share,” it says in a report. Standard Chartered is also bullish on the REIT, with an “outperform” rating and a price target of HK$4.60. |
||||
| Useful To Me Not Useful To Me | |||||
|
rodney301
Member |
31-Mar-2010 21:19
|
||||
|
x 0
x 0 Alert Admin |
WOAH!!! I think Fortune Reit has GOT the approval to list on HK on the 20th April !!! HUAT AR!!! the link is below: http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_B10C4B34E7BD9BE2482576F6003CBA36/$file/Listing-ByIntroduction.pdf?openelement |
||||
| Useful To Me Not Useful To Me | |||||
|
rodney301
Member |
29-Mar-2010 08:48
|
||||
|
x 0
x 0 Alert Admin |
waiting for it to reach at least HKD 4. Might just reach HKD 4 in the coming week :D Cheers |
||||
| Useful To Me Not Useful To Me | |||||
|
commando
Veteran |
28-Mar-2010 22:05
|
||||
|
x 0
x 0 Alert Admin |
Will consider to upload more tomorrow toooooooooo! | ||||
| Useful To Me Not Useful To Me | |||||
|
rodney301
Member |
28-Mar-2010 20:52
|
||||
|
x 0
x 0 Alert Admin |
well, i had named a few retis trading below NAV in my earlier postings. As i said, this reit SHOULD NOT even trade at such a low discount to its NAV. well, it is involved in retail rentals and should trade a price/nav ratio near to Capitamall, Frasers Centrepoint Trust. Well, i am not being overly optimistic because this price is definitely too low :D will consider accumulating some tomorrow :D
|
||||
| Useful To Me Not Useful To Me | |||||
|
stedeguy
Member |
28-Mar-2010 20:18
|
||||
|
x 0
x 0 Alert Admin |
Actually, there are quite a number of REITs trading below NAV, in fact, they outnumber REITs trading above by more than 2:1. I hope this REIT succeed since I have been vested since Sep 09, but I just caution against overly optimistic expectations. China XLX after the initial surge has now fallen back to close to its pre-IPO price. And does anyone remember Oceanus, which was consistently one of the top 20 volume traded daily before listing? The rally was also short-lived.
|
||||
| Useful To Me Not Useful To Me | |||||
|
rodney301
Member |
28-Mar-2010 18:09
|
||||
|
x 0
x 0 Alert Admin |
well, my TP is probably around HKD 5.00 :D still a huge bargain :D
|
||||
| Useful To Me Not Useful To Me | |||||