Indiabulls Trust   

Indiabulls Properties Investment Trust (IPIT)

sadly, it is a compulsory acquisition... offer good or not also useless.

But I will still sell my shares so I can receive the money faster.

investshare      ( Date: 28-Oct-2017 17:35) Posted: Offer looks very good kusje58      ( Date: 28-Oct-2017 14:46) Posted: dun wanna sell also cannot already....

 

Offer looks very good

kusje58      ( Date: 28-Oct-2017 14:46) Posted: dun wanna sell also cannot already....

 

dun wanna sell also cannot already....

 

 

http://www.businesstimes.com.sg/real-estate/indiabulls-properties-investment-trust-gets-takeover-offer-of-90-s-cents-apiece

 

https://www.outlookindia.com/newsscroll/indiabulls-real-estate-to-delist-singapore-arm/1165812

 

Indiabulls Real Estate up 6% today (at one stage 9%) due to group restructuring rumours.
(Or are they dreaming about unlocking IPIT' s value after delisting?)

 

Indiabulls Real Estate up 6% today (at one stage 9%) due to group restructuring rumours.
(Or are they dreaming about unlocking IPIT' s value after delisting?)

 

Thanks for sharing, but please don' t adopt that mentally that you have written it off. Farallon has much more than us.

Please hang on tight, it is in my opinion that you can get $75K-150K back if $20K was your valuation based on the last traded price. Even $75K is an extremely conservative estimate that short-changed us by 50%.

20K - Last Done $0.255 (delisting offer $0.25)

75K - Target MINIMUM slightly below $1, otherwise Farallon will not even bother to read the offer. I explained repeated that IPIT is worth over $2 per share and cited ultra-optimistice get-rich-quick projections that the trustee-managers presented to the investors of their holding company IRE in the press.

150K - Fair Offer at appx $1.90 to $2.00. Yes, the dishonest trustee-managers can do you so much harm in the past, they will probably not give in so much. However, if this company is worth over $2 plus a share AND with higher valuations ahead,  lower cost of financing ahead (confirmed), higher rental income (reflected in last results) and expenses maximized in earlier statements (not accured), assuming IPIT has a cash-value of $2.50++, an $1.90 offer still give the dirty IRE an almost immediate 33% returns. Developers in Singapore makes last than 18% per project (without leverage), so an immediate 33% return is still an attractive option.

The game has changed. Farallon and the remaining 800+ minority shareholders understand that the longer we wait, the more it is worth.

If you read my older posts, you would know that I wun go around (india)bullshitting people and give you false hope. It is good, I will say it is good. If it is bad, I will not deny.

kusje58      ( Date: 07-Aug-2017 08:37) Posted: Thank you for your updates. I had invested 20k into this share (last traded at half the price) and have refused to self it. Let' s see how it goes as I have already mentally written it off but I will do whatever it takes to avoid letting Indiabulls from profitting from us. Cheers.

 

Thank you for your updates.

I had invested 20k into this share (last traded at half the price) and have refused to self it.

Let' s see how it goes as I have already mentally written it off but I will do whatever it takes to avoid letting Indiabulls from profitting from us.

Cheers.

 

India' s property market are rocketing, including Mumbai where our IPIT is located. Using the same valuers that IPIT loved to quote (knight frank), there was no reason why IPIT choose to understate the value of assets, except to low-ball us in delisting attempts. (They made the previous auditor rubber-stamp on these under-valuations and switched to another one, as per listing requirements)


http://www.thehindu.com/business/Industry/housing-prices-are-alive-and-kicking/article19391527.ece



Dear Investors, we are sitting on a huge gold mine. An investor who attended the recent AGM whatsapp me the weblinks to the following photos which are taken during the AGM-period. More boring photos were used in the AGM. The trustee-managers did not show tell you how rich the company is, because of these near-completed assets, right?

Model:


Actual:






Model:


Actual:

 

 

Dear People,

Sorry, I was at hospital with a relative this afternoon. I am sorry. I will really want to attend next year.

Thank you for overwhelming united during the AGM. A whopping 99.95% (including Farallon Capital) voted against the following resolution:
Indiabulls Real Estate is busy issuing new shares & debts in India. I thank you for preventing that the Indians from using IRE shares (which are trading at historical high now) to do a swap for our IPIT shares which were last traded at over 90% discount to NAV (assuming a realizable value of $2plus per share in the next few years.

Dear investors, we had been conned and now stucked in IPIT. We can still win if we drag and wait. The Indian snakes have no integrity in their role as a trustee manager. They betrayed us and embarked on a rentless pursuit of understating valuations (as explained in previous posts) and maximizing expenses, so that they are can reap the IPIT cash cow when they took full control of it. Now, the longer we wait, the better our odds.

Nothing was done in good faith, the trustee mangers resorted to dirty tricks - devaluation and cornered the counter to hold us hostage. Now the AGM is over, I can share. Shareholders that I spoke to said that they wrote to authorities about our plight and refered to CID instead of Securities Industry Council. An individual pm me about the standard responses from MAS " Consumer Issues Division" MAS said that the shit we faced are " commercial issues" and unable to intervene. It' s like police telling you they cannot catch thieves.

Who are these novice young fresh grads in MAS to JUDGE that we have no case. You have no pride in your role as a regulator - 做 人 不 应 该 是 这 样
These people simply don' t want to work, don' t want to help us. If our regulators are just plain lazy, just say so because your pay is still the same regardless you help us or not, correct?

 

 

Reference CLSA report:
http://www.moneycontrol.com/news/business/stocks-business/indiabulls-real-comes-out-of-f-clsa-initiates-coverage-with-buy-call-2337101.html

 

- According to the latest CLSA, Indiabulls Real Estate office portfolio (including the iconic Office buildings in IPIT) and leases will do very well in the years ahead (double in the next five years)

- The company, the brokerage added, will complete 20 msf of ongoing residential development projects over 3-4 years. I believe the remaining residential project in IPIT will also be completed and this trust will have a significantly smaller loan portfolio

- Most important, CLSA mentioned that  recent steps for reorganization should lead to value discovery, it added. 

Last point refering ring to the cash cow IPIT right? 
Dear IPIT investors, we had been consistently betrayed by our own trustee managers. If they can delist IPIT, Indiabulls Real Estate will enjoy a super rally.

Listen, fellow investors, the longer we resist, the more IPIT is worth, (Thanks to PM Modi), go read about the Japanese on a mad buying spree for top commercial properties in India. The IPIT accounts had been cooked to lower valuations. It is still the same plot of prime freehold land and soaring lease revenues, awaiting us.

 

 

hi there,

The holding company of the trustee manager, Indiabulls Real Estate (IRE) controls about 54.9% of the company.

Thanks for Farallon Capital (whom did not surrender their shares to IRE at a 80-90% discount to NAV) earlier, IRE could not forcefully delist the country. Farallon Capital controls about 42.7%. Another 800plus Singaporeans controls the remaining 2.4% which are worth more than $2 per share if shameless trustee managers recognizes the profits.

As days pass by, the business trust is worth more and more. To answer your question, IRE wants to be the buyer and refuse to be the seller because they can recognize massive profits in IPIT after delisting.

Thanks again for reading
 

investshare      ( Date: 25-Jul-2017 08:20) Posted: Not following this stock. But what is stopping Farallon Cap from making an offer? Quote: At current valuation of $1.25, Farallon Capital would love to buy over the whole business trust instead of selling to the Indians and now we further confirmed that rental income has surged 18%. The dismay picture painted by the trustee managers are false. MarcPh      ( Date: 25-Jul-2017 07:44) Posted: It' s so hard to hide IPIT' s enormous profits potential. For the past reports, they kept telling us about the tough rental market for their office. Now, base rent and parking income raise by a whopping 17-18%. They are starting to recognize revenues from development properties (again) - About S$85mio and total liabilities is lowered and will continue to be lowered. (Translating to higher profit margins PERMANENTLY as INR' s cost of borrowing is very high) The trustee managers choose to recognize minimal profits for the revenues from development properties, saving the fat margins for future if they can delist Indiabulls. Revenue Recognition is S$85mio and they declared the related cost of sales as S$84.2mio (almost no margin? nonsense....read on). The profit potential is hidden under Assets held for Sales. In 1Q18, the valuation of Assets held for Sales is reduced by only S$77.4mio, instead of S$84mio. They are either saving the fat margins for future if they can delist Indiabulls or SUPER EFFICIENT in their construction I can only conclude that the S$637mio Assets held for Sales valuation is grossly undervalued (market cap is merely S$192mio) They just made the previous Auditor do a huge write down of S$528mio in the closing of last FY. At current valuation of $1.25, Farallon Capital would love to buy over the whole business trust instead of selling to the Indians and now we further confirmed that rental income has surged 18%. The dismay picture painted by the trustee managers are false. The whole business trust is worth more than $2, as per our earlier calculations. As quoted in the first post of this thread, the Indians told their own investors that IPIT is a cash cow.

 

Not following this stock. But what is stopping Farallon Cap from making an offer?

Quote:
At current valuation of $1.25, Farallon Capital would love to buy over the whole business trust instead of selling to the Indians and now we further confirmed that rental income has surged 18%. The dismay picture painted by the trustee managers are false.

MarcPh      ( Date: 25-Jul-2017 07:44) Posted: It' s so hard to hide IPIT' s enormous profits potential. For the past reports, they kept telling us about the tough rental market for their office. Now, base rent and parking income raise by a whopping 17-18%. They are starting to recognize revenues from development properties (again) - About S$85mio and total liabilities is lowered and will continue to be lowered. (Translating to higher profit margins PERMANENTLY as INR' s cost of borrowing is very high) The trustee managers choose to recognize minimal profits for the revenues from development properties, saving the fat margins for future if they can delist Indiabulls. Revenue Recognition is S$85mio and they declared the related cost of sales as S$84.2mio (almost no margin? nonsense....read on). The profit potential is hidden under Assets held for Sales. In 1Q18, the valuation of Assets held for Sales is reduced by only S$77.4mio, instead of S$84mio. They are either saving the fat margins for future if they can delist Indiabulls or SUPER EFFICIENT in their construction I can only conclude that the S$637mio Assets held for Sales valuation is grossly undervalued (market cap is merely S$192mio) They just made the previous Auditor do a huge write down of S$528mio in the closing of last FY. At current valuation of $1.25, Farallon Capital would love to buy over the whole business trust instead of selling to the Indians and now we further confirmed that rental income has surged 18%. The dismay picture painted by the trustee managers are false. The whole business trust is worth more than $2, as per our earlier calculations. As quoted in the first post of this thread, the Indians told their own investors that IPIT is a cash cow.

 

It' s so hard to hide IPIT' s enormous profits potential.

• For the past reports, they kept telling us about the tough rental market for their office. Now, base rent and parking income raise by a whopping 17-18%.
• They are starting to recognize revenues from development properties (again) - About S$85mio and total liabilities is lowered and will continue to be lowered. (Translating to higher profit margins PERMANENTLY as INR' s cost of borrowing is very high)
• The trustee managers choose to recognize minimal profits for the revenues from development properties, saving the fat margins for future if they can delist Indiabulls.
  • Revenue Recognition is S$85mio and they declared the related cost of sales as S$84.2mio (almost no margin? nonsense....read on).
  • The profit potential is hidden under Assets held for Sales. In 1Q18, the valuation of Assets held for Sales is reduced by only S$77.4mio, instead of S$84mio. They are either saving the fat margins for future if they can delist Indiabulls or SUPER EFFICIENT in their construction
  • I can only conclude that the S$637mio Assets held for Sales valuation is grossly undervalued (market cap is merely S$192mio)

They just made the previous Auditor do a huge write down of S$528mio in the closing of last FY. At current valuation of $1.25, Farallon Capital would love to buy over the whole business trust instead of selling to the Indians and now we further confirmed that rental income has surged 18%. The dismay picture painted by the trustee managers are false.

The whole business trust is worth more than $2, as per our earlier calculations. As quoted in the first post of this thread, the Indians told their own investors that IPIT is a cash cow.

 

Shame on the trustee managers,

they got the cheek to spend over SGD4.7mio (up from $1.1mio) in the first quarter of the FY on advertisement.

 

$4.7mio in a quarter, over S$50k a day. Every single day? 

One middle-page inset on an Indian magazine is just S$1k. Your advertise 50 different magazines on daily print or what?

which company in India spend $4.7mio a quarter on ads? 

 

WTF? They advertise as if they are running NDP?

 

Dear Shareholders, please attend the AGM.

 

Update:
The Rs 500 crore (S$107mio) debentures placement is completed.
http://www.business-standard.com/article/pti-stories/indiabulls-real-estate-raises-rs-500-cr-via-debentures-117062901292_1.html

Indiabulls Real Estate surged 9% within the past week from Rs191.29 to hit 208.85 yesterday.
 

MarcPh      ( Date: 24-Jun-2017 14:58) Posted: In another news, Indiabulls real estate is seeking to raise another Rs 500 crore (S$107mio) through private placements.  http://economictimes.indiatimes.com/markets/stocks/news/indiabulls-real-estate-to-raise-up-to-rs-500-crore-via-debentures/articleshow/59284782.cms However, the purpose was " for meeting company' s funding requirements for its ongoing businesses and general corporate purposes or any other purposes as may be approved by its board, the realty firm had said They didn' t explicitly say that the S$107mio equivalent will be used for the privatisation of IPIT. If yes, together with the S$143mio share sale, this is like $0.73 per share, still a far-fetch from IPIT true value. Imagine IPIT is worth $1.97 (without S$528mio impartment) to $2.10 after the floor-area increment in Sky Suites, $0.73 is like 1/3 of its value. Paying $0.73will be like buying IPIT for $1 and recognize a $2 gain ($3 value) immediately if they are successful. No wonder, Indiabull Real Estates share continued to rocket because of this development. Share up 148% within 3 months, and 6.6% on Friday.

 

hi rentay, i will go unless i got to travel for work again
But sorry i will prefer to keep my privacy and will not identify myself in real life.
Thank you for your understanding

Anyway, there were 1100plus shareholders before the suspension and only less than 300 surrendered their shares. We still have 800plus people!

 

rentay      ( Date: 28-Jun-2017 08:38) Posted: Hi, are you attending the coming indiabulls AGM? MarcPh      ( Date: 27-Jun-2017 23:21) Posted: The Annual Report is OUT!!!!! LMAO!!! CHATRI TRISIRIPISAL is the former Chairman and he also didn' t surrender his shares to Indiabulls Real Estate' s ultra low-ball offer last year! THERE ARE STILL 876 shareholders out there to lend their support to Farallon Capital!!! NEVER CONCEDE for pathetic low-ball offers from the indian trustee managers anymore! The impairment is a serious conflict of interest by the trustee managers! Change the Trustee Managers! KICK THE SCUMS OUT IN THE AGM on Furama City Center, Ballroom 2, Level 5, 60, Eu Tong Sen Street, Singapore 059804 on Friday, 28 July 2017 at 2:00 p.m HOPE FARALLON WILL JOIN US REJECT ALL RESOLUTIONS to protest against the nonsense!