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Yup Temasek balanced interst is Deemed, they sold their direct interest.
Wonder who' s the buyer? 1 transaction 74mil means 1 buyer?
Temasek only owns listed shares for a strategic purpose. It only ended up holding KREIT shares via the in specie distribution by Keppel. Hence selling these shares is consistent with its strategy.
The Edge article contains some errors I think, in particular the implication that Temasek owns more KREIT shares it may sell in the future. That is inaccurate - Temasek has no more shares to sell.
BTW in a similar way Temasek does not own KIT shares directly, so there will be no KIT share sales by Temasek.
KIT than Keppel Corp
Stocky901 ( Date: 12-Jan-2024 16:19) Posted:
| Why tamasek keeps selling kepp-linked stocks.. kepp dc, kepp reit, etc? What's next?🤔 🤔 |
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Be cautious ...
dyodd
Why tamasek keeps selling kepp-linked stocks.. kepp dc, kepp reit, etc? What's next?🤔 🤔
Whatever , T decide to sell this large amount ....tells that they have better return with this $$ then Kep Reit .
Dyodd
Sin_Cos_Tan ( Date: 12-Jan-2024 15:31) Posted:
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Temasek disposes of 74.3 mil Keppel REIT units at 91.38 cents
The block came from the dividend in specie from Keppel' s shares.
https://www.theedgesingapore.com/capital/insider-moves/temasek-disposes-743-mil-keppel-reit-units-9138-cents
Wow, 72mil married deal done at $0.915. Somethig brewing?
Given their last disclosed NAV was $1.31, what they should be doing with every spare cent they have is to buy back shares. Difficult for them to make more or easier money than that.
Nice.
I feel they should concentrate on Japan more, maybe divest some Australian properties and buy more Japan Grade A office. Cost of Fund very low in Japan, very ideal for REITs
Keppel REIT's Tokyo asset achieves full occupancy with new tenancies
Tue, Jan 02, 2024 ? 06:03 PM GMT+08 ? 2 min read
https://www.theedgesingapore.com/news/reits/keppel-reits-tokyo-asset-achieves-full-occupancy-new-tenancies
This REIT more than most others has been hit by the higher interest rates over the past two years. If you look at the operational financials they have been strong - the recent fall in DPU is entirely due to higher interest costs. As this reverses the underlying operational growth from higher rents/accretive M& A/buybacks will reveal itself. The rise in share price is anticipating this.
A lot of money parked in USD will start to flow to or back to Singapore due to Singapore super strong currency, whether into stock market or properties. As USD is going to come down soonest than later due to future interest rate cut next year.
Eagle88 ( Date: 15-Dec-2023 15:14) Posted:
Malaysia EPF should buy this stock to earn high dividends, appreciation of SP and appreciation of Singapore Dollars.
Eagle88 ( Date: 15-Dec-2023 14:49) Posted:
| Once breaks 985, it will be going for 1000 and beyond. |
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Malaysia EPF should buy this stock to earn high dividends, appreciation of SP and appreciation of Singapore Dollars.
Eagle88 ( Date: 15-Dec-2023 14:49) Posted:
| Once breaks 985, it will be going for 1000 and beyond. |
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Once breaks 985, it will be going for 1000 and beyond.
Eagle88 ( Date: 15-Dec-2023 11:44) Posted:
Interest will be coming down very soon next year, KREIT is one of the REITS that will give good yield that is higher than FD. Other than the DPU, the SP will continue to move up following the down cycle of interest rate.
Eagle88 ( Date: 15-Dec-2023 11:37) Posted:
Singapore office REITs the ' star' among S-REITS: DBS analysts
Analysts at DBS Group Research have named Singapore offices as the &ldquo star&rdquo among Singapore REITS (S-REITS) amid uncertainties. They have named Keppel REIT (KREIT) and Mapletree Pan Asia Commercial Trust N2IU 1.34% (MPACT) as their preferred REITS, and OUE LJ3 0.88% Commercial REIT TS0U -1.72% (OUECT) as their mid-capitalisation pick.
As office S-REITs have 54%-93% of their overall valuation attributable to the Singapore office sector, market concerns on potential de-rating of office asset valuations are &ldquo likely unfounded&rdquo , says DBS.
The overall metrics of positive reversions driving cash flows, high return to office statistics at more than 85% for office, and supportive demand-supply dynamics in the coming years, as well as a stabilising interest rate environment has made DBS turn more positive on the sector.
DBS&rsquo s economists expects Singapore&rsquo s gross domestic product (GDP) growth to improve in 2024, and their analysis indicates that demand in finance and insurance sector (largest tenants of CBD offices in Singapore) has reached a trough.
&ldquo We believe the scarcity of Grade A Core CBD space will likely persist longer than expected due to the absence of new office sites and removal of offices for redevelopment,&rdquo DBS analysts note. &ldquo This trend is projected to drive the overall vacancy rate to below 4% within the next 2 years (or earlier if demand stems from economic growth). Thus, overall rents could remain steady &mdash a catalyst for the office sector &mdash rather than decline.&rdquo
The analysts also believe that with expectations of interest rates finally peaking, the year-end asset valuation update for office S-REITS could show more resilience. In their stress test analysis, commercial/office S-REITs are likely to maintain their gearing below 45% even on the back of a 10% decline in portfolio valuation, supported by a strong Singapore asset base.
As such, they expect the final overhang to be lifted soon as asset values are likely to remain stronger than expected.
Considering that the analysts have an assumed asset &ldquo write-off&rdquo of 5%-7%, the sector is trading at 0.7x adjusted p/bv, close to -1 standard deviation (s.d.) of the mean while offering an FY2024 yield of more than 6% above historical average.
The analysts say that this suggests that risk of asset value write-offs is more than priced in.
&ldquo We have factored in higher-for-longer interest rates in our estimates and distribution per units (DPUs) are likely to bottom out in FY2024. We project FY2025 DPU may potentially grow
by 3% y-o-y,&rdquo they say.
As such, they prefer KREIT and MPACT on attractive valuations, at more than 6% yield and a p/bv of less than -0.5 s.d.. Meanwhile, OUECT is their mid-capitalisation pick representing a 8% yield, 0.5x p/bv with no refinancing risk and upside from the hospitality segment.
https://www.theedgesingapore.com/capital/brokers-calls/singapore-office-reits-star-among-s-reits-dbs-analysts |
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Interest will be coming down very soon next year, KREIT is one of the REITS that will give good yield that is higher than FD. Other than the DPU, the SP will continue to move up following the down cycle of interest rate.
Eagle88 ( Date: 15-Dec-2023 11:37) Posted:
Singapore office REITs the ' star' among S-REITS: DBS analysts
Analysts at DBS Group Research have named Singapore offices as the &ldquo star&rdquo among Singapore REITS (S-REITS) amid uncertainties. They have named Keppel REIT (KREIT) and Mapletree Pan Asia Commercial Trust N2IU 1.34% (MPACT) as their preferred REITS, and OUE LJ3 0.88% Commercial REIT TS0U -1.72% (OUECT) as their mid-capitalisation pick.
As office S-REITs have 54%-93% of their overall valuation attributable to the Singapore office sector, market concerns on potential de-rating of office asset valuations are &ldquo likely unfounded&rdquo , says DBS.
The overall metrics of positive reversions driving cash flows, high return to office statistics at more than 85% for office, and supportive demand-supply dynamics in the coming years, as well as a stabilising interest rate environment has made DBS turn more positive on the sector.
DBS&rsquo s economists expects Singapore&rsquo s gross domestic product (GDP) growth to improve in 2024, and their analysis indicates that demand in finance and insurance sector (largest tenants of CBD offices in Singapore) has reached a trough.
&ldquo We believe the scarcity of Grade A Core CBD space will likely persist longer than expected due to the absence of new office sites and removal of offices for redevelopment,&rdquo DBS analysts note. &ldquo This trend is projected to drive the overall vacancy rate to below 4% within the next 2 years (or earlier if demand stems from economic growth). Thus, overall rents could remain steady &mdash a catalyst for the office sector &mdash rather than decline.&rdquo
The analysts also believe that with expectations of interest rates finally peaking, the year-end asset valuation update for office S-REITS could show more resilience. In their stress test analysis, commercial/office S-REITs are likely to maintain their gearing below 45% even on the back of a 10% decline in portfolio valuation, supported by a strong Singapore asset base.
As such, they expect the final overhang to be lifted soon as asset values are likely to remain stronger than expected.
Considering that the analysts have an assumed asset &ldquo write-off&rdquo of 5%-7%, the sector is trading at 0.7x adjusted p/bv, close to -1 standard deviation (s.d.) of the mean while offering an FY2024 yield of more than 6% above historical average.
The analysts say that this suggests that risk of asset value write-offs is more than priced in.
&ldquo We have factored in higher-for-longer interest rates in our estimates and distribution per units (DPUs) are likely to bottom out in FY2024. We project FY2025 DPU may potentially grow
by 3% y-o-y,&rdquo they say.
As such, they prefer KREIT and MPACT on attractive valuations, at more than 6% yield and a p/bv of less than -0.5 s.d.. Meanwhile, OUECT is their mid-capitalisation pick representing a 8% yield, 0.5x p/bv with no refinancing risk and upside from the hospitality segment.
https://www.theedgesingapore.com/capital/brokers-calls/singapore-office-reits-star-among-s-reits-dbs-analysts |
|
Singapore office REITs the ' star' among S-REITS: DBS analysts
Analysts at DBS Group Research have named Singapore offices as the &ldquo star&rdquo among Singapore REITS (S-REITS) amid uncertainties. They have named
Keppel REIT (KREIT) and Mapletree Pan Asia Commercial Trust
N2IU 1.34% (MPACT) as their preferred REITS, and OUE
LJ3 0.88% Commercial REIT
TS0U -1.72% (OUECT) as their mid-capitalisation pick.
As office S-REITs have 54%-93% of their overall valuation attributable to the Singapore office sector, market concerns on potential de-rating of office asset valuations are &ldquo likely unfounded&rdquo , says DBS.
The overall metrics of positive reversions driving cash flows, high return to office statistics at more than 85% for office, and supportive demand-supply dynamics in the coming years, as well as a stabilising interest rate environment has made DBS turn more positive on the sector.
DBS&rsquo s economists expects Singapore&rsquo s gross domestic product (GDP) growth to improve in 2024, and their analysis indicates that demand in finance and insurance sector (largest tenants of CBD offices in Singapore) has reached a trough.
&ldquo We believe the scarcity of Grade A Core CBD space will likely persist longer than expected due to the absence of new office sites and removal of offices for redevelopment,&rdquo DBS analysts note. &ldquo This trend is projected to drive the overall vacancy rate to below 4% within the next 2 years (or earlier if demand stems from economic growth). Thus, overall rents could remain steady &mdash a catalyst for the office sector &mdash rather than decline.&rdquo
The analysts also believe that with expectations of interest rates finally peaking, the year-end asset valuation update for office S-REITS could show more resilience. In their stress test analysis, commercial/office S-REITs are likely to maintain their gearing below 45% even on the back of a 10% decline in portfolio valuation, supported by a strong Singapore asset base.
As such, they expect the final overhang to be lifted soon as asset values are likely to remain stronger than expected.
Considering that the analysts have an assumed asset &ldquo write-off&rdquo of 5%-7%, the sector is trading at 0.7x adjusted p/bv, close to -1 standard deviation (s.d.) of the mean while offering an FY2024 yield of more than 6% above historical average.
The analysts say that this suggests that risk of asset value write-offs is more than priced in.
&ldquo We have factored in higher-for-longer interest rates in our estimates and distribution per units (DPUs) are likely to bottom out in FY2024. We project FY2025 DPU may potentially grow
by 3% y-o-y,&rdquo they say.
As such,
they prefer KREIT and MPACT on attractive valuations, at more than 6% yield and a p/bv of less than -0.5 s.d.. Meanwhile, OUECT is their mid-capitalisation pick representing a 8% yield, 0.5x p/bv with no refinancing risk and upside from the hospitality segment.
https://www.theedgesingapore.com/capital/brokers-calls/singapore-office-reits-star-among-s-reits-dbs-analysts
Nice Rally. Hope it will break $1 soon.
https://www.theedgesingapore.com/capital/brokers-calls/singapore-office-reits-star-among-s-reits-dbs-analysts
Of course Kep Corp has more KREIT shares it could pay in-specie if it wanted to.
Alignment ( Date: 17-Nov-2023 13:05) Posted:
Not down the road, but only for the short term. The shares paid out represents 5 months' trading volume for KREIT (assuming 1/3 trading volume). Clearly not all investors are going to sell.
eddyeddy ( Date: 10-Nov-2023 12:39) Posted:
| If more selling the free units from Kep corp , should depress the unit price down the road |
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