15-08-2012, 09:55 AM
(14-08-2012, 11:12 PM)GFG Wrote:(14-08-2012, 11:52 AM)cfa Wrote: Most property stocks like Hong Fok, HPL , Wheelock.......are being traded at discount to NTA , Metro is not alone.
If no extraordinary gain from dispossal of aseet , special dvidend is unlikely to be declared, but JO will still take indecent salary and bonus.
Did you guys notice the sudden large drop in the tenancy rates of 2 of the 5 malls?
GIE Tower, Guangzhou 94.8% -> 83.3%
Frontier, Tokyo 73.2% -> 55%
The tokyo office building actually has like only 5 tenants, mainly government agencies. I am guessing 1 tenant pulled out, resulting in the sudden drop. 55% is really very low...
The Office building in Japan is a few storey bldg. each floor has one tenant as advised by Gerald Ong. Even since the Gov agancies moved out , Metro was unable to find new tenants. 73.2 % occupancy since FY 2011, and it has dropped to 55%. In no time it will become an empty bldg. Believe the previous owner knew why they need to offload this bldg.
In China, there are many empty bldgs also. I was in Chao Yang district of BJ last month , many shopping malls like ghost town, practically no human traffics. Guanzhou is not spared also, especially those properties in less favourite locations.
“risk comes from not knowing what you’re doing.”
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.