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Viva Industrial Trust
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laksaman57
Supreme |
26-Nov-2017 14:39
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http://research.sginvestors.io/2017/10/viva-industrial-trust-ocbc-investment-2017-10-30.html?m=1 "we continue to see upside potential for VBP given that only 87.3ppt of the 96.2% committed occupancy for ?white space? contributed to 3Q17 income" | ||||
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oldcoconut
Senior |
26-Nov-2017 01:36
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Brothers, what is a good price to enter? How about 90 cents?
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Clipper
Member |
25-Nov-2017 13:59
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looks like viva is hitting a price ceiling at 0.96. After recent 2-3 days rush to 102, +3.5% gain, it collapses back to 96 now in just as fast a pace as it rises. Looks like the inclusion in MSCI small Cap and the award win is not able to move the price northwards. Hopefully, it will not go southwards from here. Vested, looking forward to next DPU in January, and any actions to their Jackson Sq prop...
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laksaman57
Supreme |
24-Nov-2017 19:49
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http://www.btinvest.com.sg/markets/news/169236.html?source=si_news | ||||
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laksaman57
Supreme |
22-Nov-2017 20:12
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https://www.theedgesingapore.com/viva-industrial-trust-join-msci-singapore-small-cap-index | ||||
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MichaelSchenker
Master |
14-Nov-2017 20:23
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This counter seems like looking good. Anybody in this forum already bought in? |
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laksaman57
Supreme |
30-Oct-2017 14:10
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https://www.theedgesingapore.com/viva-rides-dtl-station-opening-expo-vbp%E2%80%99s-aei-completion | ||||
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laksaman57
Supreme |
27-Oct-2017 11:21
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https://www.theedgesingapore.com/viva-industrial-declares-3q-dps-190-cents-5-year-despite-challenging-market | ||||
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laksaman57
Supreme |
26-Oct-2017 10:19
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Result tomolo 🚀 | ||||
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laksaman57
Supreme |
11-Oct-2017 10:56
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Viva is late in notification of date for result release 😕 | ||||
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laksaman57
Supreme |
10-Oct-2017 17:29
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https://www.theedgesingapore.com/viva-industrial-trust-shows-prudence-amid-exuberance | ||||
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chengwh1
Elite |
30-Aug-2017 01:33
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Looks to me like this is a ticking timebomb which we shld watchout closely for,... and hopefully be able to sell before others do come end of next year if the rental collections do not pickup,... don' t know if this effort is really necessary since there are other REITs out there to choose from,.... | ||||
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sweetbear90
Member |
28-Aug-2017 21:40
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hi morello, thanks. this was very honest feedback from the mgmt. i think it is highly possible to inrease the occupancy to 95% given the lack of upcoming business park supply. i think the opening of dtl 3 in october would also boost the attractiveness of uebizhub. unfortunately, it will take time to raise the rent of the existing occupants to prevailing market rents. it is almost an increase of 25% to their existing rent and it will be significant to their operations. so my take is that the gap will close gradually from now till nov 2018 as existing rents are up for renewal, but it may not come in time to make up for the $4.8 mil shortfall needed. |
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Morello
Veteran |
28-Aug-2017 10:50
Yells: "In it for the long haul" |
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some views from management on UEBH rental support expiration - from CIMB report on 15 Aug 2017 Risk: rental support for UEBH expires in FY18F During the NDR, a common area of concern for investors was the expiry of rental support for UEBH&rsquo s business park component in Nov 2018. In 2016, UEBH&rsquo s business park component contributed S$23.8m to group revenue (25.1% of FY16 revenue), while rental support for UEBH was S$10.9m. We understand that the current passing rent for UEBH is around S$4 psf pm, while occupancy is c.91%. To bridge the S$10.9m income gap when the rental support expires, management estimates that the passing rent of UEBH needs to increase to S$4.70-5.00 psf pm while occupancy has to be in excess of 95%. Nonetheless, with very little business park supply post-2016, management is optimistic about raising asking rents for UEBH. It noted that neighbouring ONE@Changi City is asking for S$4.50-5.50 psf pm. In addition, the completion of the new Downtown line station (Expo station) slated for Oct 2017 would increase the accessibility of UEBH and enables VIT to negotiate for higher rents. Additionally, some of the shortfall could be partially offset by an additional S$1m p.a. from UEBH&rsquo s hotel component (as a result of the 10-year master lease agreement that started in Nov 2013). More importantly, management believes that the increasing contribution from VBP would help to offset the absence of income support. It also highlighted that, on a portfolio basis, VIT has over the years, decreased its reliance on income support. |
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chengwh1
Elite |
28-Aug-2017 10:27
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Tq sweetbear,... read the article closely this morning,... the following challenges remained :- 1) What will be the new terms and the expenses to be incurred when renewal talks with JTC takes place next year ? 2) VIT will not be able to acquire any new business parks anymore. They will be depending a lot on the current two units they have for rental income. Property-wise, moving fwd, we will have concentration risk. 3) And,........ for all the good news post-AEI for VBP, we will still have the following risk as in an earlier write-up as below by HLB. Will ' all this good news' be able to COVER THE 4.87Mil shortfall as in the below ? The estimated additional is only calculated to be at $3.8 million in Net Property Income from the AEI at Viva Business Park. This is definitely not enough to cover the loss in rental support ! Expiry Of Rental Support At UE BizHub East The biggest concern for unitholders would be the expiry of the rental support arrangement at UE BizHub in November 2018. This is hanging like an albatross around the necks of the REIT Manager. During the latest financial results, Viva Industrial Trust received a total of $2.58 million of rental support in 4Q2016 from the vendors of UE BizHub. Extrapolating this would lead to a total of $10.3 million in rental support for an entire year. Heartland Boy did an estimate on the various sources of future revenue that can help to mitigate the rental support once it comes off in November 2018:
This leads to an additional $5.45 million by Nov 2018 but this still represents a shortfall of $4.87 million. This shortfall would cause DPU to drop by $0.00557, resulting in a yield of only 8.4%. Therefore, potential unitholders should go in with the full knowledge that the real underlying yield may truly be only 8.4%. Heartland Boy is prepared to accept this outcome as this is still above the 8% yield that he is looking for in REITS. Moreover, he is hoping for positive rental reversions and increased occupancies at Viva Business Park and UE BizHub to narrow this rental support gap.
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sweetbear90
Member |
27-Aug-2017 10:59
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the price movement is just market fluctuation i guess. it would be scary if it is always a one-way street right? Ya, some tenants are in their month-free period as they are fitting out and just getting started. I rem reading in the 2Q results announcement that only 64% of the tenants at the white space paid rent during that period even though it is more than 92% filled. This article came before the 2q results also seem to suggest so: https://heartlandboy.com/2017-singapore-reits-symposium-review/
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laksaman57
Supreme |
26-Aug-2017 13:03
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Dpu will further grow as new tenants pays rental 😙 | ||||
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chengwh1
Elite |
25-Aug-2017 21:16
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Tq SB90,... the price dropped 1.6% today,... any reasons for this ?? I thought all news has been good and great since that legal matter with JS has been resolved and the AEI has been completed. Even the opening ceremony hs been done. BY the way, though the AEI has been completed, not all tenants have moved-in yet, right ? Not all pre-committed tenants have started servicing their rents yet, right ?
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sweetbear90
Member |
24-Aug-2017 10:32
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there' s some calculation done back in feb 17 on this blog https://heartlandboy.com/viva-industrial-trust-initiation-report/
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chengwh1
Elite |
24-Aug-2017 00:01
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Outside of Jackson Sq., there is another rental support agreement that will end sometime in ' 18 or ' 19,... how will this affect Viva ? | ||||
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