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1Q08 FS
Profit +142% (vs 07)
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_4FFEE49426FA9BA74825744200359B06/$file/ARA_Q1_2008_announcement.pdf?openelement
Last day CD is May 02.
This one offers attractive yield and quite stable compared to other reits. Or rather the business is on "reit manager"
I think it should be around May 2008
when is the CD changing to XD? advise pls.... thks
bad call.... wrong timing....
for trading becomes investing....
can try your hand.... 
have u change your spec... or quit ur daily job.... haha.....
this counter is 
, buy when bb come in and not at this time.
, buy when bb come in and not at this time.
I refering from the day u post till now... the overall is dropping leh... I don't understand what u saying... pls state clearly leh :P
ahxing, either u go n change a new pair of spec or quit ur day job....
I realise handon trade all dropping one, is handon a shorting player... mayb is just coincidence.....
What's the link between Centro and ARA..... Bought at $1.08...
Centro Properties Group, struggling to refinance A$3.9 b (US$3.4 b) of debt, may sell assets to raise cash after losing 86% of its market value in 2 days.
Centro, the Australian owner of 700 U.S. shopping centres, rose in Sydney trading today after saying external advisers examined its cash flow and the business remains viable.
The Melbourne-based company is the worst casualty in Asia of the global credit squeeze, with A$4.1 b wiped from its market value earlier this week. CEO Andrew Scott, who took on debt to help fund US$9 b of U.S. acquisitions in the past 2 years, is poised to reverse course.
"To become solvent they need to realize about US$1 bi in asset sales," said John Snowden, head of property securities at Colonial First State in Sydney, Centro's largest shareholder. He said Colonial, with a 13% stake according to Bloomberg data, is "looking to increase at these prices."
Centro rose 50% to A$1.21 at the close of trading in Sydney. It traded as high as A$6.03 last week. Centro Retail Group, a trust managed by the company, gained 15% to A$0.75 today.
Scott must reach agreement with his bankers by Feb 15 on the A$3.9 b of debt, which is held by Centro and the trust.
Potential buyers of Centro's assets include Westfield Group, the world's biggest shopping centre owner, Stockland, Australia's largest housing developer, and Sydney-based reit GPT Group.
Centro's 8 most valuable properties are in Australia, including Centro Galleria in Perth and Centro Bankstown in Sydney, according to its latest annual report. Its largest U.S. shopping centers are Independent Mall in North Carolina and Cortlandt Towne Center in New York.
"The real query is the transparency of the asset base is quite difficult for analysts to get a handle on at the moment,'' said Michael McCormick of Leyland Private Asset Management in Sydney. "The trouble is they have basically flagged that they are in some trouble and that is obviously going to have an effect on the asset prices they can get."
Scott has kept control of the malls he acquires, and the management fees they generate, by selling them into 39 partially owned investment vehicles such as wholesale funds and joint ventures.
Among the vehicles, the company's CMCS 38 property syndicate, which has stakes in 20 properties located across 13 U.S. states, is 80% owned by 3 separate Centro entities with the rest by outside investors. Centro Properties has a 10% direct stake, its 51% owned Direct Property Fund has a 50% stake and the 25% owned Centro Retail Group has 20%.
Scott said yesterday that the lenders to Centro are Commonwealth Bank of Australia, Australia & New Zealand Banking Group Ltd., National Australia Bank Ltd., JPMorgan Chase & Co., Royal Bank of Scotland Group Plc and BNP Paribas.
Stephen Rich, an analyst at UBS AG in Sydney, cut his rating on Centro to "sell" and lowered his price target to A$1.58 from A$7.03, citing concern the company will have to liquidate assets.
The largest U.S. shopping centre owners, led by Simon Property Group, are cutting profit forecasts as the economy slows.
Indianapolis-based Simon Property said Dec 7 it plans to write off its US$26 m equity investment in a planned community in Phoenix while General Growth Properties Inc. may take a US$77 m charge for land whose value declined.
Centro, the Australian owner of 700 U.S. shopping centres, rose in Sydney trading today after saying external advisers examined its cash flow and the business remains viable.
The Melbourne-based company is the worst casualty in Asia of the global credit squeeze, with A$4.1 b wiped from its market value earlier this week. CEO Andrew Scott, who took on debt to help fund US$9 b of U.S. acquisitions in the past 2 years, is poised to reverse course.
"To become solvent they need to realize about US$1 bi in asset sales," said John Snowden, head of property securities at Colonial First State in Sydney, Centro's largest shareholder. He said Colonial, with a 13% stake according to Bloomberg data, is "looking to increase at these prices."
Centro rose 50% to A$1.21 at the close of trading in Sydney. It traded as high as A$6.03 last week. Centro Retail Group, a trust managed by the company, gained 15% to A$0.75 today.
Scott must reach agreement with his bankers by Feb 15 on the A$3.9 b of debt, which is held by Centro and the trust.
Potential buyers of Centro's assets include Westfield Group, the world's biggest shopping centre owner, Stockland, Australia's largest housing developer, and Sydney-based reit GPT Group.
Centro's 8 most valuable properties are in Australia, including Centro Galleria in Perth and Centro Bankstown in Sydney, according to its latest annual report. Its largest U.S. shopping centers are Independent Mall in North Carolina and Cortlandt Towne Center in New York.
"The real query is the transparency of the asset base is quite difficult for analysts to get a handle on at the moment,'' said Michael McCormick of Leyland Private Asset Management in Sydney. "The trouble is they have basically flagged that they are in some trouble and that is obviously going to have an effect on the asset prices they can get."
Scott has kept control of the malls he acquires, and the management fees they generate, by selling them into 39 partially owned investment vehicles such as wholesale funds and joint ventures.
Among the vehicles, the company's CMCS 38 property syndicate, which has stakes in 20 properties located across 13 U.S. states, is 80% owned by 3 separate Centro entities with the rest by outside investors. Centro Properties has a 10% direct stake, its 51% owned Direct Property Fund has a 50% stake and the 25% owned Centro Retail Group has 20%.
Scott said yesterday that the lenders to Centro are Commonwealth Bank of Australia, Australia & New Zealand Banking Group Ltd., National Australia Bank Ltd., JPMorgan Chase & Co., Royal Bank of Scotland Group Plc and BNP Paribas.
Stephen Rich, an analyst at UBS AG in Sydney, cut his rating on Centro to "sell" and lowered his price target to A$1.58 from A$7.03, citing concern the company will have to liquidate assets.
The largest U.S. shopping centre owners, led by Simon Property Group, are cutting profit forecasts as the economy slows.
Indianapolis-based Simon Property said Dec 7 it plans to write off its US$26 m equity investment in a planned community in Phoenix while General Growth Properties Inc. may take a US$77 m charge for land whose value declined.
ARA fell on fears spreading from the Centro property trust saga in Australia.
just bought it yesterday, very sad
wah.... drop more today....
Any bad news on this counters?
watch for gap cover...
Any one know why this counter drop so much today? BBs throwing?
