Kep Infra Tr
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CitySpring Infrastructure Trust
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CitySpring yield look attractive (DPU: 3.28c @ S$0.34 = 9.65%).
Anymore right issues ? look at the debt profile …Maybe 2014 ????
KimEng Comments:
“Currently, Temasek’s unitholding in CitySpring stands at 37.4% and the risk of a sell‐ off, though low, weighs on its price performance”
(Source: http://www.kimengresearch.com.sg/Download.aspx?rPID=10& rN=CitySpring%20Infrastructure%20231111.pdf)
Limtan comments
CitySpring through Basslink, bought back on Sept 30th A$170 mln worth of bonds issued by the latter at A$155 mln, ie there should be a gain to be booked in, interest expense correspondingly reduced and cash flow boosted by the release of the A$20 mln escrow account..
(source: http://kfc1973-stock.blogspot.com/2011/10/citysprings-cash-flow-is-stable-limtan.html )
loss $$$, already out. understand the results of paying too much for bl assets
Temasek got the bunk together with Morgan as the rights at 39cts are not fully subscribed recently----now way below 39cts,even the recent dpu not sufficient to cover
Read 26th (Sat) Nov Business Times titled 'Reit myth busted' and you will know what I mean!
The amount of rights raised exceeded the payout one would have gotten over a period of time.
Anyway the life span of the infrastructures are only 30 years (refer to IPO prospectus ) and may even be written down earlier!
Danger in buying Reits or Trust lies in cash calls (rights) often in the name of growth and outstrips DPU and face dilution!
Can you enlighten me in this case?
SupremeA ( Date: 20-Nov-2011 22:22) Posted:
You drank the kool-aid!
iyipyc ( Date: 19-Nov-2011 21:43) Posted:
| Tks for your kind advice. however I uderstand that CitySpring Infrastructure Trust was established with the principal objective of investing in infrastructure assets and providing unitholders with long-term, regular and predictable distributions and the potential for longterm capital growth. Therefore, I don't really get you. |
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You drank the kool-aid!
iyipyc ( Date: 19-Nov-2011 21:43) Posted:
Tks for your kind advice. however I uderstand that CitySpring Infrastructure Trust was established with the principal objective of investing in infrastructure assets and providing unitholders with long-term, regular and predictable distributions and the potential for longterm capital growth. Therefore, I don't really get you.
jimywcm ( Date: 17-Nov-2011 22:51) Posted:
| “Trust Company” has literally no capital
appreciation potential due to its depreciating fixed assets.
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Tks for your kind advice. however I uderstand that CitySpring Infrastructure Trust was established with the principal objective of investing in infrastructure assets and providing unitholders with long-term, regular and predictable distributions and the potential for
longterm capital growth. Therefore, I don't really get you.jimywcm ( Date: 17-Nov-2011 22:51) Posted:
“Trust Company” has literally no capital
appreciation potential due to its depreciating fixed assets.
iyipyc ( Date: 17-Nov-2011 13:46) Posted:
| Just look at its balance sheet which shows that its fimancail status seems not healthy. No wonder the price keep dropping.. No sure is it due to the Management not do well? |
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“Trust Company” has literally no capital
appreciation potential due to its depreciating fixed assets.
iyipyc ( Date: 17-Nov-2011 13:46) Posted:
Just look at its balance sheet which shows that its fimancail status seems not healthy. No wonder the price keep dropping.. No sure is it due to the Management not do well?
starlene ( Date: 08-Nov-2011 10:24) Posted:
| But bad sign as the stock as dropped below rights price of 39cts-Temasek got stuck with a lot of rights not taken up...wonder who is the buyer these days...$8.20 per lot ex date 14Nov..payable 28Nov |
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Just look at its balance sheet which shows that its fimancail status seems not healthy. No wonder the price keep dropping.. No sure is it due to the Management not do well?
starlene ( Date: 08-Nov-2011 10:24) Posted:
| But bad sign as the stock as dropped below rights price of 39cts-Temasek got stuck with a lot of rights not taken up...wonder who is the buyer these days...$8.20 per lot ex date 14Nov..payable 28Nov |
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But bad sign as the stock as dropped below rights price of 39cts-Temasek got stuck with a lot of rights not taken up...wonder who is the buyer these days...$8.20 per lot ex date 14Nov..payable 28Nov
The distribution of 0.82 cent is better than expected. The annualized yield is 8.75%. Today done 113 trades at volume of 2.781 mn units and all trades were done by bought from seller & no by sold to buyer. What does this means? This signal indicates that CitySpring got good support & price may go up!!!
Just my two cents.
