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EC World Reit down 10.9% on uncertainty over loan refinancing
UNITS of EC World real estate investment trust saw massive sell-offs on Friday (Apr 8), with its unit price closing at S$0.655, down S$0.08 or 10.9 per cent, over uncertainties on its ability to refinance its loans.
The counter plunged to a low of S$0.645, down as much as 12.2 per cent at 3.11 pm, with over 10.2 million securities changing hands.
The last time it hit such low levels was in August 2020.
The sell-off started right after market opened, and continued throughout the day, with EC World Reit' s unit price dropping by as much as 6.8 per cent within the first 2 hours of trading on Friday.
No married deals were recorded, according to ShareInvestor data.
The Reit' s manager had said in a bourse filing after market hours on Thursday that the refinancing exercise for all onshore and offshore term loans due in 2022 is in the final stages of negotiation, and believes the Reit can continue operating as a going concern.
It was responding to queries from the Singapore Exchange, which noted that EC World Reit' s auditors PwC had highlighted a material uncertainty in its FY2021 financial statements on Reit' s ability to continue as a going concern.
Its manager said the uncertainty arose because the refinancing of loans, due for repayment in May and July 2022, were not completed at the time of the issuance of the financial statements.
The financials therefore reflected that the Reit' s current liabilities exceed its current assets.
The Reit' s management said it is confident that the refinancing exercise would be successfully completed prior to the maturity dates of the term loans.
Is this an S share, meaning China play?
I have stopped buying anything that is China play. There are just too many suspended counters.
danger ( Date: 04-Dec-2017 10:53) Posted:
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Their debt seem high and interest rate is at more than 5%. A bit risky, I think.
JUST ALI BABA ALONE CAN HAVE $25.3 BILLION WORTH OF TRANSACTION IN 1 DAY .. IMAGINE HOW MUCH LOGISTIC INFRASTRUCTURE DEMAND IS THERE ACROSS CHINA
I SAY IF ALI BABA BUYS INTO EC WORLD ...
IF ALI BABA ALREADY IN .. EC WORLD WOULDN ' T TRADE AT 77 cents already .. MAYBE $1.70
IF ALI BABA ALREADY IN .. EC WORLD WOULDN ' T TRADE AT 77 cents already .. MAYBE $1.70
Do you have any link?
Forget target price, just read the info
Forget target price, just read the info
ALI BABA ----> > > > INTO EC WORLD REIT
HUAT !!!
HUAT !!!
ANALYST TARGET PRICE IS 92 CENTS
CURRENTLY BACK WITH 7.6% DIVIDEND YIELD
BEST ALI BABA INVEST IN EC WORLD SOON
LOAD UP
danger ( Date: 04-Dec-2017 08:54) Posted:
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BUY CHEAP NOW
In theory, a P/B ratio that is less than one means that the REIT is selling at less than what it is worth. An investor who buys the REIT could essentially liquidate all its assets, pay off all debt, and still end up making money.
Right now, the cheapest REITs in the Singapore market with a distribution yield of more than 7% are EC World Real Estate Investment Trust
EC World Real Estate Investment Trust, Sabana Shariah Compliant REIT and ESR-REIT are classified under industrial REITs. BHG Retail REIT, as the name suggests, is a retail REIT while Soilbuild Business Space REIT represents a diversified REIT.
The cheapest of the lot with a P/B ratio of 0.8 is EC World Real Estate Investment Trust. It is the first specialised logistics and e-commerce logistics REIT from China that was listed here in July 2016. The REIT owns properties mainly used for e-commerce, supply-chain management and logistics
BECAUSE THIS THREAD JUST STARTED FOR 1 DAY ONLY
NOBODY DISCOVERED THIS GEM ON THE BIGGEST MARKET ON EARTH IN CHINA
INTERNET E-COMMERCE AND LOGISTIC BUSINESS
SINGLE ' s DAY ALONE ON 11/11 , ALI BABA HANDLED $25.3 BILLION WORTH OF ONLINE SALES IN 24 HOURS ,
OVERALL TOTAL AMOUNT OF CHINA ' s ONLINE SPENDING SPREE ALREADY HITTING $1.1 TRILLION IN 2017
NOBODY DISCOVERED THIS GEM ON THE BIGGEST MARKET ON EARTH IN CHINA
INTERNET E-COMMERCE AND LOGISTIC BUSINESS
SINGLE ' s DAY ALONE ON 11/11 , ALI BABA HANDLED $25.3 BILLION WORTH OF ONLINE SALES IN 24 HOURS ,
OVERALL TOTAL AMOUNT OF CHINA ' s ONLINE SPENDING SPREE ALREADY HITTING $1.1 TRILLION IN 2017
qq1234 ( Date: 03-Dec-2017 12:30) Posted:
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Why only one person post?
STANDBY FOR NEXT DIVIDEND
MASSIVE 7.6% YIELD NOW
PUT THIS UNDERVALUED REIT INTO YOUR PORFOLIO
danger ( Date: 01-Dec-2017 08:14) Posted:
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ONE OF THE HIGHEST YIELD REIT WITH THE LOWEST GEARING
As e-commerce continues to develop, there' s also the issue of reverse logistics, where customers return goods. This is one bugbear for many manufacturers, because it' s not something that every logistics provider - particularly the more traditional ones - can handle.
EC World REIT, with a portfolio that caters to high-growth e-commerce transactions, has the ability to meet these specialised needs, he added.
Another competitive advantage stems from its exposure to Hangzhou, the logistics hub of Zhejiang province and the Yangtze River Delta. Throughput of ports in the city - dubbed China' s e-commerce capital - is expected to surge 59.1% to 175 million tonnes in 2035 from 110 million tonnes in 2016, data from Hangzhou' s government showed.
Planned construction of a second channel within five years, connecting the waterway systems in northern China to Hangzhou, will provide a further boost, according to the Hangzhou Transport Bureau.
The REIT' s main growth thrust lies in its e-commerce warehouses, such as Bei Gang and Fu Heng .
EC World REIT has a market capitalisation of nearly S$590 million. Its shares, currently trading 6.8% below their IPO price of 81 Singapore cents, have a price-to-book ratio of 0.8. In the year-to-date, the stock has distributed a dividend of 2.454 cents per unit, which translates into an annualised yield of 7.5%.
Burgeoning Growth
Looking ahead, Cheng expects China' s e-commerce industry to continue expanding at a rapid clip, underpinned by widespread Internet penetration and increased consumption from a rising, tech-savvy middle class.
According to data from Analysys, the size of China' s retail e-commerce market is estimated to expand to 9.4 trillion yuan (US$1.4 trillion) in 2020, from 5.1 trillion yuan (US$740 billion) in 2016, reflecting a compounded annual growth rate of 16.5%. This year, China' s online retail sales are projected to reach US$972 billion, triple the US$315 billion forecast for the United States.
Cheng noted that physical infrastructure - such as the specialised warehouse assets in EC World REIT' s portfolio, on-the-ground delivery networks and customer collection points - all play a crucial role in connecting the industry' s ecosystem and ensuring its smooth operation
Burgeoning Growth
Looking ahead, Cheng expects China' s e-commerce industry to continue expanding at a rapid clip, underpinned by widespread Internet penetration and increased consumption from a rising, tech-savvy middle class.
According to data from Analysys, the size of China' s retail e-commerce market is estimated to expand to 9.4 trillion yuan (US$1.4 trillion) in 2020, from 5.1 trillion yuan (US$740 billion) in 2016, reflecting a compounded annual growth rate of 16.5%. This year, China' s online retail sales are projected to reach US$972 billion, triple the US$315 billion forecast for the United States.
Cheng noted that physical infrastructure - such as the specialised warehouse assets in EC World REIT' s portfolio, on-the-ground delivery networks and customer collection points - all play a crucial role in connecting the industry' s ecosystem and ensuring its smooth operation
ANALYST HAS A BUY CALL ON EC WORLD REIT WITH TARGET PRICE 92 CENTS