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Price to pay for not kicking out the mgr

(26-07-2017, 09:33 AM)laksaman57 Wrote: [ -> ]https://www.theedgesingapore.com/sabana-...es-25-fees

Please provide some descriptive text for the link. Do not just post the link. Thanks.

Light at the end of the tunnel for unitholders of Sabana? Everybody wins...except for early investors.

http://infopub.sgx.com/FileOpen/Sabana_c...eID=465921

Sabana NAV is about 56 cents. It will not be another GLP price.

Honestly, i really hope they encash us out at a decent price.

The amount of value destroyed by the REIT management is mind-boggling.

I have this from 2013 and have followed it all the way down and still holding.

Was half tempted to encash on it today, but, then, I thought, 4 years plus already held, what is the harm in holding for another 4 months till things are clear.

Seriously, this REIT is a great case study to illustrate the pitfalls of REIT investing.

http://www.businesstimes.com.sg/companie...ite-knight

Lucky Warburg Pincus lost its bid for Global Logistic Properties

If take over, price maybe 20% premium to last traded price ($0.475) which work out to $0.57 which happen to be its NAV. Price may just hover around $0.47-0.475 till then.

My personal view is that ESR will proceed with an offer. With NAV at 57 cents and current price at 47.5 cents, there is value in Sabana and since ESR is already in the Reit business, there is economy of scale if there is M&A with Sabana. I am no expert and just looking from a very broad point of view. There may be nitty gritty that make the acquisition not attractive, i don't know. However, like laksaman said, the price should stable at current level and I have bought some to hold for a few month for a punt. I don't think the offer price, if at all, will be 57 cents though. I will be happy with 53-55 cents.

Sabana NAV was 73c 3 years ago.

The valuation tank till 57c was mainly due to poor rental/occupancy rate as a result of inadequate Manager.

If ESR buys at 57c and can revive the rental/occupancy rate, the NAV will be much higher.

So, IMO, ECR is buying at fair value of 57c and have potential upside. 

lol.