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That's Kim Eng's recommendation. Its a really bad for me who got it at one dollar. F&N don't disappoint me.
privatisation rumors ?
hmm refinancing issues ? so low its current price
With Fraser name, it still find no support. Continue to drop.
This one is a golden opportunity to retirement
rgds
Australia related REIT and Trust are falling like crazy. Good thing F&N bought this. But still now at 0.515 low.
With the new manager coming in, Allco should be in good hand now and probably moody will re-rate this bugger soon. Of course, some minor hiccups still exists. Like the de valuation of aust. commercial property, lower tenants and lower rental percentage due to high rental price.
Quality of its assets is superb, better than industrial, hospitals in indonesia or Japan assets,
Have worked with Australians before
They go for the best assets to buy
That was what allco did at a low price
Allco should keep all assets and borrow to fund all and give back some profit as DPU after settling some debt qtrly
This stock will soon close near its NAV
Phillip Securities cuts target price for Allco Commercial REIT to $0.86 from $1.05 to reflect weak market conditions, end of income support from Allco Finance Group. REIT will no longer be receiving income support following Fraser & Neave's recent acquisition of AFG's 17.7% stake in trust. Keeps Buy call. Says, with F&N as sponsor, Allco can expect boost to its acquisition plans; "we feel Allco will be in a better financial standing when it comes to funding negotiations. It will also have more funding options being part of the Fraser and Neave Group."
Previous one huge developer said to be in talks to buy ALLCO
Frasers turn out to be the one to grab the jewel
Frankly, investor feel safer & like Fraser better - than for ALLCO to sell out to any developer
Turn out ALLCO has good future after the approval by URA granted to built more units into the development they own
Obviously many developers were eyeing the jewel - they could have built a hotel, etc, etc- if they had bought it over
I also think it is better to develop ALLCO than go for general offer
With Fraser's good management , long term investors will be fully rewardrd
i think one would be better off waiting for the price to climb higher, then hope for F&N to make a general offer. of course, the wait can be very pek-chek for many.
hmm no general offer, what a disappointment
allcoreit unitholders can breathe easier now with F&N on board.
moody may soon upgrade allcoreit to Baa.
those who bought low low must be glad they hold on to this "nervous" horse.
FCL has got the jewel..........
This REIT later renamed will rocket steadily .....
go go allco! vested :)
With the share sale to Allco Finance Group to FCL , the possibility of firesale is no longer there
More positive development coming hopefully ..
lucky allcoreit finally has F&N on board - a strong sponsor with some good office assets for future growth.
JP Morgan was the one who bought B.S. at cheap price ...
Do they want allco at cheap price also ? ......
JPMorgan downgrades Allco Commercial REIT to Neutral from Overweight, cuts target price to $0.88 from $1.00. Broker says investors should lock in REIT's relative outperformance as potential restructuring catalyst of asset sales in Australia could take longer to come through than expected. Adds REIT's cut in dividend payout ratio signals outlook is uncertain while increase in borrowing costs could put pressure on REIT to maintain its interest coverage ratio to service debt covenants.
allco reit has been inching up since 27 May from about lowest 77cents to now 86cents. Anyone knows the reason? vested