Sabana Shari'ah REIT

The impression I had from the AGM yesterday was the management were a rather conservative team,if not because of one hooligan retail investor who shouted at the CEO when he made his maiden speech , the overall atmosphere would have been better and believe the CEO will not be ' avoiding ' the retail investors during the tea break.
The management made it clear that Sabana will only concentrate in Ind. properties in Singapore ,because this is what they are good at , and this was the reason why the cornerstone investors invested in it.

(13-04-2012, 10:20 AM)Stocker Wrote: The impression I had from the AGM yesterday was the management were a rather conservative team,if not because of one hooligan retail investor who shouted at the CEO when he made his maiden speech , the overall atmosphere would have been better and believe the CEO will not be ' avoiding ' the retail investors during the tea break.
The management made it clear that Sabana will only concentrate in Ind. properties in Singapore ,because this is what they are good at , and this was the reason why the cornerstone investors invested in it.

What was he yelling about ?

When the CEO said 2011 was a good year and 2012 expected to be another stable year with improved revenues, he yelled and interupted and said share price still below IPO price, when the CEO told him he would expalin that later, this joker asked, would the share price go up after coming back later.
This joker is in his 60, can see him talking in Madarin very loudly in other AGMs. But I notice he dare not yell at Ang Moh , like Rickmers or FSL.

DPU increased from 2.17 to 2.26 cents for 1Q.

Many new industry properties in the market, could be over supplied down the road.

Published July 19, 2012

Sabana Reit Q2 DPU up 4.1% to 2.27cts

By BusinessTimes , Carine Lee

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Sabana Shari'Ah Compliant Reit on Thursday reported a 4.1 per cent increase in year on year distribution per unit (DPU) to 2.27 cents, exceeding forecast of 2.17 cents, for the fiscal second quarter ended June 30, 2012.

Unitholders can expectto receive their DPU on August 29, 2012.

Income available for distribution rose 4.7 per cent to $14.5 million from $13.85 million a year ago, on a 17 per cent increase in turnover to $20.35 million from $17.38 million a year ago. Net property income rose 15.3per cent to $19.08 million from $16.54 million a year ago.

The increase in revenue and property income was due to contribution from new properties acquired in the fourth quarter of 2011.

SABANA SHARI’AH COMPLIANT REIT COMPLETES REFINANCING WITH S$258.6 MIILION ADDITIONAL MURABAHA FACILITIES

Extracts,

With the completion of the additional financing arrangement by the Trust, the new weighted average allin‐cost (including amortisation of transaction costs) for all outstanding facilities totalling S$370.8 million is approximately 4.1% p.a.. This is comparatively lower than the 4.8% p.a. for the initial S$220.6 million facilities drawn down at the IPO of Sabana Shari’ah Compliant REIT, as well as the 4.4% p.a.for the S$364.8 million facilities which were outstanding before the drawdown.

With the conclusion of the additional financing package, Sabana Shari’ah Compliant REIT’s weightedaverage term of debt has now increased from approximately 1.5 years before refinancing, to approximately 3.1 years after refinancing. In addition, the Trust’s debt maturity profile is further diversified with three‐year and five‐year tenors, with over 95.0% of total facilities maturing in late 2014 and beyond.

Should expect increases of DPU .

A historical moment for Sabana....
Closing above IPO Price of $1.05 for the FIRST TIME since listing on 26-Nov-10 2PM.... almost 2 years!

Back then, I congratulated myself for correctly guessing that it'd open and trade below IPO Price. My reasoning was it has a weak parent (Freight Links) which was holding <10% of Sabana + no large cornerstone investors. How right I was, as it got battered down.. I got my 1st lots at $0.985 as I never expected that it'd get sold down a lot more, what with Gearing = 26.5% and Yield close to 9%.... How wrong I was... Continued buying all the way to $0.845...

Well, it's been a good ride and yes, it remains as the REIT with the highest yield + weakest parent (?). Now, what should I do next...

(04-09-2012, 05:17 PM)KopiKat Wrote: A historical moment for Sabana....
Closing above IPO Price of $1.05 for the FIRST TIME since listing on 26-Nov-10 2PM.... almost 2 years!

Back then, I congratulated myself for correctly guessing that it'd open and trade below IPO Price. My reasoning was it has a weak parent (Freight Links) which was holding <10% of Sabana + no large cornerstone investors. How right I was, as it got battered down.. I got my 1st lots at $0.985 as I never expected that it'd get sold down a lot more, what with Gearing = 26.5% and Yield close to 9%.... How wrong I was... Continued buying all the way to $0.845...

Well, it's been a good ride and yes, it remains as the REIT with the highest yield + weakest parent (?). Now, what should I do next...

Do you know why the Malaysian IPO's are doing very well? Do you know why Sabana will do well? There's a lot of money coming in from the oil-rich Middle-Eastern countries and their investment funds! And they are obliged to invest in Shariah compliant companies. There are some more big IPO's in the pipeline for Malaysia. Malaysia is appearing to become the Islamic financial centre of Southeast Asia, which has the largest Muslim population of the world.

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2nd Chance could benefit from this too if it positions itself well.