ShareJunction - Stock Forum Messages

StarhillGbl Reit Last:0.54

+0.005

Starhill Global Reits

Tomorrow 1st half result wl be announced. Expect DPU to be around 2 cents.

At this current gloomy and unprediciable enviroment it is grossly over value

Hi Guys,

I have recently wrote an article on why I believe this REIT is undervalued. Do click on the below link and let me know your thoughts!

http://www.passivements.com/2021/01/03/starhill-global-reit-why-i-believe-this-reit-is-undervalued/

Thanks and happy investing.

Starhill Global Reit obtains S$550m in term loan, revolving credit facilities

THE trustee of Starhill Global Real Estate Investment Trust (Starhill Global Reit) has entered into a five-year unsecured S$550 million facility agreement with a club of banks.

The agreement is for S$250 million in term loan facilities and S$300 million in revolving credit facilities (RCFs). Of the RCFs, S$100 million is uncommitted, said Starhill Global Reit' s manager on Monday evening.

It will use the term loan facilities to refinance Starhill Global Reit' s S$100 million unsecured medium-term notes upon maturity on Feb 26, 2021, as well as a S$150 million unsecured term loan ahead of its maturity on Sept 16, 2021.

Meanwhile, the RCFs will be available for the Reit' s working capital requirements and/or general corporate funding purposes. The committed portion of these RCFs will replace the existing S$190 million committed RCFs that are expiring in September 2022.

Following the refinancing, the transaction is not expected to have a material impact on the gearing of Starhill Global Reit.

If a change of control event occurs, the aggregate level of facilities that may be affected is about S$1.53 billion, excluding interest, as at Monday.

Wow, did some smart traders managed to buy up during the Market Pre-Close when LHL just started talking or wat?
Starhill closed up more than 5% !!!!!!

Starhill Global Reit prices S$100m perps at 3.85%

STARHILL Global Real Estate Investment Trust' s (Starhill Global Reit) trustee will issue S$100 million of 3.85 per cent perpetual securities, the manager said in a bourse filing on Wednesday night.

The perps will be issued under the Reit' s S$2 billion multi-currency debt issuance programme.

If they are not called, the coupon rate will reset on Dec 15, 2025, and every five years thereafter to the prevailing Singapore dollar five-year swap offer rate plus an initial spread of 3.292 per cent per annum.

Net proceeds will be used to refinance the Reit' s existing borrowings, meet its capital expenditure requirements and/or be used for working capital purposes.

The manager expects the perps to be issued on Dec 15, 2020, and listed on the Singapore Exchange on or about a day after the issue.

OCBC has been appointed the sole lead manager and bookrunner of the perps.

no maturity date and they do not need to repay the principle by certain timeline (ie can last forever), can be considered as equity..

Peter88 ( Date: 09-Dec-2020 19:27) Posted:

The 100M perpetual @3.85% closed today . Why Pay 3.85 % when the interest rate enviroment is so low . Believe can get bank loan below 3% quite easily . Any opinion on this ?

Is perpetual a equity or debt ?

Perpetual = no end date Cannot get that w banks.

The 100M perpetual @3.85% closed today . Why Pay 3.85 % when the interest rate enviroment is so low . Believe can get bank loan below 3% quite easily . Any opinion on this ?

Is perpetual a equity or debt ?

Technically bullish for this stock

darkpoliticks ( Date: 10-Nov-2020 09:48) Posted:

One of those REITS i don' t know what to do about it so just hold long term.

darkpoliticks ( Date: 10-Nov-2020 09:46) Posted:

Starhill Global REIT, a star to buy say analysts at OCBC Investment Research
Amala Balakrishner Published on Tue, Nov 03, 2020 / 8:17 PM GMT+8 / Updated 6 days ago
https://www.theedgesingapore.com/capital/brokers-calls/starhill-global-reit-star-buy-say-analysts-ocbc-investment-research

A liking for Starhill Global REIT (SGREIT) has pushed analysts at OCBC Investment Research to post a &ldquo buy&rdquo call on the counter at a fair value of 52 cents.
This is down a cent from their previous 53 cent prediction and is believed to give the counter a 10 cent upside from its 42 cent price on Oct 29.

&ldquo We believe negatives are in the price with SGREIT trading a significant discount to book value, the analysts explain.

SGREIT recorded a net property income (NPI) of $29.8 million in 1QFY21 ended Sep 30, down 19.2% from the previous year.

The manager of the REIT attributes this to a 10.3% year-on-year plunge in gross revenue to $43.1 million that resulted from the $7.3 million rental assistance granted to eligible tenants affected by the Covid-19 pandemic.

The amount distributed includes allowance for rental arrears and rebates given mainly to tenants in its Australia properties.

The latest numbers are &ldquo in line with expectations&rdquo say OCBC&rsquo s analysts, adding that SGREIT&rsquo s 1QFY21 NPI constitutes 23.6% of their FY2021 forecast.

Interestingly, the quarter saw the REIT&rsquo s occupancy levels inching up 0.4 percentage points from the previous quarter to reach 96.4%.

This follows a higher take up rate, mainly from its properties in Singapore which registered a 0.6 percentage point increase in retail tenants (to 99.5%) and 2.7 percentage point increase in office occupants (to 90.3%).

SGREIT&rsquo s portfolio comprises 10 properties in Singapore, Malaysia, China, Japan and Australia. Its properties in Singapore include the prominent Wisma Atria and Ngee Ann City, located along the Orchard Road retail belt.

A cause for concern is that 25.8% and 37.2% of leases (by gross rent) are slated to expire at Wisma Atria&rsquo s retail and office component in the remaining three quarters of FY21, OCBC&rsquo s analysts say.

&ldquo No rental reversion figures were provided, but this would likely be negative as management prioritises defending its occupancy,&rdquo they observe.

Still they flag that tenant sales and footfall traffic at the mall&rsquo s retail arm had plunged by 33.5% and 54.4% respectively year-on-year in 1QFY21. This, according to the analysts, is a &ldquo marked improvement&rdquo from the declines of 80.0% (tenant sales) and 86.9% (footfall) seen during the circuit breaker in SGREIT&rsquo s 4QFY20.

&ldquo Although some of SGREIT&rsquo s properties are under master leases, the severe and widespread impact of Covid-19 has resulted in management extending, or having the intention to extend some form of rental rebate to its master lessees to share the pain and build a stronger longer-term relationship,&rdquo the analysts note.

To this end, they have cut their FY22 distribution per unit (DPU) forecast by 4.4% to factor in further rental rebates at The Starhill property &ndash formerly known as Starhill Gallery &ndash that have been imposed due to a two month delay in the completion of the asset enhancement works there.

Units in SG REIT closed flat at 41 cents on Nov 3.

One of those REITS i don' t know what to do about it so just hold long term.

darkpoliticks ( Date: 10-Nov-2020 09:46) Posted:

Starhill Global REIT, a star to buy say analysts at OCBC Investment Research
Amala Balakrishner Published on Tue, Nov 03, 2020 / 8:17 PM GMT+8 / Updated 6 days ago
https://www.theedgesingapore.com/capital/brokers-calls/starhill-global-reit-star-buy-say-analysts-ocbc-investment-research

A liking for Starhill Global REIT (SGREIT) has pushed analysts at OCBC Investment Research to post a &ldquo buy&rdquo call on the counter at a fair value of 52 cents.
This is down a cent from their previous 53 cent prediction and is believed to give the counter a 10 cent upside from its 42 cent price on Oct 29.

&ldquo We believe negatives are in the price with SGREIT trading a significant discount to book value, the analysts explain.

SGREIT recorded a net property income (NPI) of $29.8 million in 1QFY21 ended Sep 30, down 19.2% from the previous year.

The manager of the REIT attributes this to a 10.3% year-on-year plunge in gross revenue to $43.1 million that resulted from the $7.3 million rental assistance granted to eligible tenants affected by the Covid-19 pandemic.

The amount distributed includes allowance for rental arrears and rebates given mainly to tenants in its Australia properties.

The latest numbers are &ldquo in line with expectations&rdquo say OCBC&rsquo s analysts, adding that SGREIT&rsquo s 1QFY21 NPI constitutes 23.6% of their FY2021 forecast.

Interestingly, the quarter saw the REIT&rsquo s occupancy levels inching up 0.4 percentage points from the previous quarter to reach 96.4%.

This follows a higher take up rate, mainly from its properties in Singapore which registered a 0.6 percentage point increase in retail tenants (to 99.5%) and 2.7 percentage point increase in office occupants (to 90.3%).

SGREIT&rsquo s portfolio comprises 10 properties in Singapore, Malaysia, China, Japan and Australia. Its properties in Singapore include the prominent Wisma Atria and Ngee Ann City, located along the Orchard Road retail belt.

A cause for concern is that 25.8% and 37.2% of leases (by gross rent) are slated to expire at Wisma Atria&rsquo s retail and office component in the remaining three quarters of FY21, OCBC&rsquo s analysts say.

&ldquo No rental reversion figures were provided, but this would likely be negative as management prioritises defending its occupancy,&rdquo they observe.

Still they flag that tenant sales and footfall traffic at the mall&rsquo s retail arm had plunged by 33.5% and 54.4% respectively year-on-year in 1QFY21. This, according to the analysts, is a &ldquo marked improvement&rdquo from the declines of 80.0% (tenant sales) and 86.9% (footfall) seen during the circuit breaker in SGREIT&rsquo s 4QFY20.

&ldquo Although some of SGREIT&rsquo s properties are under master leases, the severe and widespread impact of Covid-19 has resulted in management extending, or having the intention to extend some form of rental rebate to its master lessees to share the pain and build a stronger longer-term relationship,&rdquo the analysts note.

To this end, they have cut their FY22 distribution per unit (DPU) forecast by 4.4% to factor in further rental rebates at The Starhill property &ndash formerly known as Starhill Gallery &ndash that have been imposed due to a two month delay in the completion of the asset enhancement works there.

Units in SG REIT closed flat at 41 cents on Nov 3.

Starhill Global REIT, a star to buy say analysts at OCBC Investment Research
Amala Balakrishner Published on Tue, Nov 03, 2020 / 8:17 PM GMT+8 / Updated 6 days ago
https://www.theedgesingapore.com/capital/brokers-calls/starhill-global-reit-star-buy-say-analysts-ocbc-investment-research

A liking for Starhill Global REIT (SGREIT) has pushed analysts at OCBC Investment Research to post a &ldquo buy&rdquo call on the counter at a fair value of 52 cents.
This is down a cent from their previous 53 cent prediction and is believed to give the counter a 10 cent upside from its 42 cent price on Oct 29.

&ldquo We believe negatives are in the price with SGREIT trading a significant discount to book value, the analysts explain.

SGREIT recorded a net property income (NPI) of $29.8 million in 1QFY21 ended Sep 30, down 19.2% from the previous year.

The manager of the REIT attributes this to a 10.3% year-on-year plunge in gross revenue to $43.1 million that resulted from the $7.3 million rental assistance granted to eligible tenants affected by the Covid-19 pandemic.

The amount distributed includes allowance for rental arrears and rebates given mainly to tenants in its Australia properties.

The latest numbers are &ldquo in line with expectations&rdquo say OCBC&rsquo s analysts, adding that SGREIT&rsquo s 1QFY21 NPI constitutes 23.6% of their FY2021 forecast.

Interestingly, the quarter saw the REIT&rsquo s occupancy levels inching up 0.4 percentage points from the previous quarter to reach 96.4%.

This follows a higher take up rate, mainly from its properties in Singapore which registered a 0.6 percentage point increase in retail tenants (to 99.5%) and 2.7 percentage point increase in office occupants (to 90.3%).

SGREIT&rsquo s portfolio comprises 10 properties in Singapore, Malaysia, China, Japan and Australia. Its properties in Singapore include the prominent Wisma Atria and Ngee Ann City, located along the Orchard Road retail belt.

A cause for concern is that 25.8% and 37.2% of leases (by gross rent) are slated to expire at Wisma Atria&rsquo s retail and office component in the remaining three quarters of FY21, OCBC&rsquo s analysts say.

&ldquo No rental reversion figures were provided, but this would likely be negative as management prioritises defending its occupancy,&rdquo they observe.

Still they flag that tenant sales and footfall traffic at the mall&rsquo s retail arm had plunged by 33.5% and 54.4% respectively year-on-year in 1QFY21. This, according to the analysts, is a &ldquo marked improvement&rdquo from the declines of 80.0% (tenant sales) and 86.9% (footfall) seen during the circuit breaker in SGREIT&rsquo s 4QFY20.

&ldquo Although some of SGREIT&rsquo s properties are under master leases, the severe and widespread impact of Covid-19 has resulted in management extending, or having the intention to extend some form of rental rebate to its master lessees to share the pain and build a stronger longer-term relationship,&rdquo the analysts note.

To this end, they have cut their FY22 distribution per unit (DPU) forecast by 4.4% to factor in further rental rebates at The Starhill property &ndash formerly known as Starhill Gallery &ndash that have been imposed due to a two month delay in the completion of the asset enhancement works there.

Units in SG REIT closed flat at 41 cents on Nov 3.

And so the price will be low or go lower..

huatster ( Date: 31-Oct-2020 20:20) Posted:

Now the yield is very low

reitsdrz ( Date: 08-Sep-2020 15:28) Posted:

Good price for the high yield ..

Now the yield is very low

reitsdrz ( Date: 08-Sep-2020 15:28) Posted:

Good price for the high yield ..

No.

Peter88 ( Date: 31-Oct-2020 19:00) Posted:

GOOD LEVEL TO ENTER NOW ?

Good price for the high yield ..

Starhill Global Reit posts lower DPU due to income retention, distribution deferment

STARHILL Global Reit on Tuesday posted a distribution per unit (DPU) of 0.7 Singapore cent for its second half ended June 30, down from the 2.2 cents paid out a year ago.

Income to be distributed to unitholders fell 68 per cent to S$15.4 million, after about S$3.8 million of income available for distribution was retained for working capital needs and S$7.7 million of distributable income for the current period was deferred, as allowed under Covid-19 relief measures announced by the Inland Revenue Authority of Singapore.

Gross revenue fell 18.5 per cent to S$84.1 million, while net property income fell 27 per cent to S$58 million.

This was partly due to rental assistance of S$14.9 million given to eligible tenants, including allowance for rental arrears to cushion the impact of the Covid-19 pandemic in the fourth quarter, as well as lower contributions from Starhill Gallery in Kuala Lumpur, where a rental rebate was extended to the master tenant during the renovation period of the mall.

Its total portfolio occupancy was 96.2 per cent as at end-June 2020, with a retail portfolio occupancy of 97.4 per cent.

To help tenants through the business disruption due to the Covid-19 pandemic, the Reit has so far given out total rental rebates to eligible tenants, including an allowance for rental arrears and rebates for its Australian tenants, of S$32.2 million in FY20.

This also includes about S$15.2 million of property tax rebates for its eligible tenants and estimated cash grants for eligible small and medium-sized enterprises, both funded by the Singapore government, it said.

Many are buying for the same reason as us ?

Peter88 ( Date: 03-Jul-2020 10:23) Posted:

https://links.sgx.com/FileOpen/Announcements-DBS$50MRCF200701.ashx?App=Announcement& FileID=622199

01/07/2020 ,YTL Starhill Global REIT Management Limited as manager of Starhill Global Real Estate Investment Trust (& ldquo Starhill Global REIT& rdquo , and the manager of Starhill Global REIT, the & ldquo Manager& rdquo ) is pleased to announce that HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of Starhill Global REIT) (the & ldquo Starhill Global REIT Trustee& rdquo ) has today entered into a facility agreement (the & ldquo Facility Agreement& rdquo ) with DBS Bank Ltd (& ldquo DBS& rdquo ) to convert an existing uncommitted and unsecured revolving credit facility of S$50 million (expiring on 28 June 2024) into a committed facility (the & ldquo Facility& rdquo ) with effect on 28 July 2020.

With this S$50M credit , Starhill Global shoud achieve the 90% payout ratio withut any problem , unlike many other reits with limited credit line . If base 90% payout ratio , dividend should be not less than 1.778 cents ( for 6 months ) , to be declared by end of july .

Login Register

Starhill Global Reits