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Volumes are building up for a bigger action everyday. Full year results due soon by the end of this month. Load up boys already @ its bottom, the only way is up. Cheers
Hi tanstg,
Can you advise what is your latest chart direction ?
tanstg ( Date: 09-Dec-2009 19:15) Posted:
Technically, this Reit doesn't look too good. The price has turned down, breaking support at 60cts in last day of Oct 2009. Since then, it did not turn back. It has also breached the 50- and 100-day MA. Just my 2 sense worth of cautious..... this counter may move below 50cts in the next 2-3weeks....may consider to buy back at 45 ~ 48cts
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Hey...dun scare off the newbis leh! I know u like to short but this one is on the uptrend already due to cheap valuation. I doubt there will be another Right Issue as its mgnt already mentioned about it's funding arrangement during the acquisition announcement on Nov 09. Share placement....maybe, lets wait for the new CEO.
nickyng ( Date: 05-Jan-2010 06:42) Posted:
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yah...Rights issue again? share placements to institutions ?!?! hee.....ok i am awaitg to see...stock price up...usually those will come along..hee...i will wait ! :P
Farmer ( Date: 04-Jan-2010 18:30) Posted:
Indeed! Break up seen, should head towards 52 weeks high of 63cts. Expect news on new CEO appointment, conclude of Australia ppty deal follow by financing for Malaysia ppty acquisition and confirmation in due course. Cheers!
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yah...Rights issue again? share placements to institutions ?!?! hee.....ok i am awaitg to see...stock price up...usually those will come along..hee...i will wait ! :P
Farmer ( Date: 04-Jan-2010 18:30) Posted:
| Indeed! Break up seen, should head towards 52 weeks high of 63cts. Expect news on new CEO appointment, conclude of Australia ppty deal follow by financing for Malaysia ppty acquisition and confirmation in due course. Cheers!
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This is at least worth its NAV above 80cts
buy cheap cheap, chiong big big. its about time.
Indeed! Break up seen, should head towards 52 weeks high of 63cts. Expect news on new CEO appointment, conclude of Australia ppty deal follow by financing for Malaysia ppty acquisition and confirmation in due course. Cheers!
seems like picking up wind
The current trend to me looks more like a buying opportunity -
Bollinger bands are tightening(with vol), may signal a change in
trading direction since late Oct'09. Strong support at 48-50.5cts, immediate resistant at 54-55cts.
well...go with the head wind and u will be fine !! look at SPH lah! bliff this wan is breaking out soon...hee ! :D
Need more sincere buyer and believer to push this chap uptrend!
And the current seemed to be against the ship too!
head wind is strong at 52cts....liekly will close near there for 2009 ! :P
No more selling pressure so peice should head north.
Just to share this article : YTL's boss is shrewd, indeed.Deals of the year: YTL gets Starhill Global cheap
28 December 2009
The Edge Malaysia (Weekly)
English
© Copyright 2009. The Edge Communications Sdn Bhd. All rights reserved.
M & A — NOTABLE MENTION
YTL
Corp Bhd’s purchase of a 26% stake in Starhill Global REIT (formerly
known as Macquarie Prime REIT) is turning out to be a smart piece of
business.
With property and
property-related companies taking a dive at the height of the crisis,
YTL’s purchase of the cheaply valued Starhill Global was the typical
modus operandi of Tan Sri Francis Yeoh, YTL’s group managing director
and CEO.
Although the deal initially incurred some criticism
from the Minority Shareholders Watchdog Group, the acquisition has
certain merits, especially its valuation. Not only did YTL buy into
Starhill Global’s massive portfolio of property assets and 50% of the
management company, but it also managed to do so at a significant
discount of 49% to the unaudited net asset value (NAV) of the REIT.
YTL
subsequently recognised a RM400 million recognition of fair value gains
from the negative goodwill generated by the purchase of Starhill Global
at below its market price. This gain was recorded in its 3QFY2009
results ended March 31.
By acquiring a 50% stake in the REIT
management company, Prime REIT Management Holdings Pte Ltd, it
effectively gave YTL control of the business direction of the REIT.
The
deal, which was completed in December last year, saw YTL fork out
S$202.62 million (RM494.4 million) for a 26% stake, or 247.1 million
units, in Starhill Global. This translates to 82 Singapore cents per
unit.
At the time of the transaction, Starhill Global had a NAV
per share of S$1.42, which explains the steep discount. But the price
paid was at a 61% premium compared to Starhill’s last traded price of
51 Singapore cents.
ECM Libra, at the time of purchase,
described the acquisition as “an opportunistic deal amid the current
global financial turmoil”, and was generally positive on the purchase
despite the premium paid by YTL.
According to AmInvestment Bank,
the acquisition of the REIT and management company provides a platform
for future regional expansion of the REIT’s portfolio of properties as
well as to globalise the Starhill brand.
Starhill Global
distributed gross dividends worth 5.76 Singapore cents in 2009,
according to Bloomberg data, which translates to a dividend yield of
about 10.97% based on last Monday’s closing unit price of 52.5
Singapore cents. With 380 million shares, Starhill Global contributed
S$21.89 million to YTL during the calendar year.
Starhill
Global’s contribution is rather small for a company the size of YTL,
which was reported to have made RM6.55 billion in FY2008 and RM8.95
billion in FY2009. The upside, however, is that Starhill Global has a
worldwide property reach which allows YTL to acquire international
assets while extending the Starhill brand.
Singapore brokerage
DBS Vickers Securities says in a recent research note that Starhill
Global will be making significant property acquisitions in 2010. The
biggest purchases will include the David Jones Building in Perth for
S$148 million and the purchase of Lot 10 and Starhill Gallery in Kuala
Lumpur for S$423.3 million.
The latter purchases will be part of
YTL’s corporate exercise to separate its hospitality and commercial
retail properties into its two REITs — Starhill REIT for the former and
Starhill Global for the latter.
YTL is also poised to extend its
shareholding in Starhill Global after agreeing to underwrite up to 75%
of Starhill Global’s one-for-one rights issue. In the maximum scenario,
that is assuming no one subscribes to the rights, YTL will increase its
stake in Starhill Global to 50.5%.
Strong closing at 0.52 . Good sign.
Hey, apple to apple mah? Other than this one(retail & office), only Suntec reit also vastly undervalue to its NAV....Francis Yeoh's vehicle leh, dun play play hor. Will he hold a gun to shoot his own legs meh?
nickyng ( Date: 29-Dec-2009 14:19) Posted:
undervalue? haha...well..i dont think so..Mr Market has some other plan...many other REITS are undervalue...and they will still be :) for some reasons :D
Farmer ( Date: 29-Dec-2009 12:16) Posted:
| Wow! BBs are lock in a battle at 51cts.....stay tune and see who emerge the winner. Haha...waiting to collect more as it's vastly undervalue now, closing in on 49.5cts - its adj-RI price.
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More than 3 million shares Q to buy @ 0.51 . Reverse now.
hmm....seems that BBs are window dressing this burger to close for the year ard 51cts ???!?! :P
undervalue? haha...well..i dont think so..Mr Market has some other plan...many other REITS are undervalue...and they will still be :) for some reasons :D
Farmer ( Date: 29-Dec-2009 12:16) Posted:
| Wow! BBs are lock in a battle at 51cts.....stay tune and see who emerge the winner. Haha...waiting to collect more as it's vastly undervalue now, closing in on 49.5cts - its adj-RI price.
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