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| SINGAPORE (Thomson Financial) - Singapore's Mapletree Logistics Trust said
Monday it has agreed to buy two warehouse properties in Shanghai for 31 million Singapore dollars. The trust said it is confident the transaction can be fully financed through debt, even though Moody's Investors Service has placed its "Baa1" rating for the trust under review for possible downgrade. "The rating action is prompted by the fact that the trust's leverage has stayed at over 50 percent since the second quarter of 2007," said Moody's analyst Kathleen Lee said in a statement late Friday. "There remains uncertainty as to whether the above credit metrics can be restored to levels in the near term that support the 'Baa1' rating," Lee said. Mapletree Logistics is under pressure to finance some 295 million dollars worth of acquisitions that are expected to be completed in the next few months, she said. This is in addition to the need to refinance its short-term debt due over the next 12 months, which accounts for about 30 percent of its total debt. The trust has a portfolio of 61 properties valued at 2.1 billion Singapore dollars. About half are are in Singapore and about a third in Hong Kong, with the rest in Japan, Malaysia or China. (1 US dollar = 1.44 Singapore dollars) TFN.Singapore@thomson.com |
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What I noticed was the werid pattern in daily transactions.
Some kinda trick to depress the price or what?!?
I have no idea. Certainly looks werid to me.
Any idea what happened to this stock. It has been hovering around this price ever since the US mortgage crisis......... The good earnings and distributions don't seemed to push the share price up...... Any advice?
Yup. MapleTree is more for long term, and its a pretty stable long term counter.
Expansion plans/development to overseas (japan and vietnam, if i rmbr correctly) are in place.
U might want to read up on its previous announcements.
Seriously thinking. Mapletree ain't for short term investors and i will think that the stock will only pick up really well in 4 to 6 months time. All the best to those long term investors who had put their money in. Cheers
DBS upgrade TP to 1.69.
CIMB TP 1.65. Outperform.
Both dated 26 Oct.
Q-report gross revenue and net profit up 75+% YoY. Higher than previous forecast.
MAPLETREELOG?S AMOUNT DISTRIBUTABLE FOR 3Q 2007 UP NEARLY 80% YEAR-ON-YEAR
Highlights:
-Amount Distributable of S$19.1 million for the three months ended 30 September 2007
(?3Q 2007?) is 78.9% higher than that in the same period last year (?3Q 2006?).
-Available distribution per unit (?DPU?) of 1.72 cents for 3Q 2007 is 19.4% higher than the
forecast of 1.44 cents1 and 8.2% higher than the second quarter (?2Q 2007?) DPU.
-Value of completed assets is approximately S$2.1 billion, with another S$295 million of
acquisitions announced but pending completion as at 25 October 2007.
Result is for gross revenue, net profit 75+% higher YoY and higher than forecast...
Wah Nicky, u notice that too...
I think someone is trying to depress it while accumulating...
May bounce up anytime soon...especially withe good Q report...
SHORT it down lah!!..i think unseen hand is controlling it siah....wanna scoop low huh? hee....
so when can the price pick up from depressing 1.18 ??