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http://www.channelnewsasia.com/mobile/asiapacific/japan-s-abe-to-delay/2825938.html
Interesting read. There may be a mindset shift in the Japanese market and potentially consumer-savers. Read and draw your own conclusions. :)
http://www.theedgemarkets.com/en/node/279410
I like that they are part financing this new deal with prospective Yen debt issuance @0.6%. But they need to secure the 40 year lease extension for the new Saga mall.
woo hoo this is my favourite! already collected quite a bit of dividends!
Agreed. This Trust is doing well.
Goldfinger ( Date: 13-May-2016 12:24) Posted:
Savvy buyer
waters ( Date: 13-May-2016 10:21) Posted:
Croesus RT is going big and aggressive. Another round of acquisitions of 2 malls cuming.
http://preview.todayir.com.sg/croesusretail/attachment/201605130918051733673654_en.pdf
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Savvy buyer
waters ( Date: 13-May-2016 10:21) Posted:
Croesus RT is going big and aggressive. Another round of acquisitions of 2 malls cuming.
http://preview.todayir.com.sg/croesusretail/attachment/201605130918051733673654_en.pdf
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3Q 15/16 results announced:-
http://preview.todayir.com.sg/croesusretail/attachment/201605130912331787829606_en.pdf
Croesus RT is going big and aggressive. Another round of acquisitions of 2 malls cuming.
http://preview.todayir.com.sg/croesusretail/attachment/201605130918051733673654_en.pdf
Sorry let me stand corrected on TCIL as its vehicles imported are in Yen if made in Japan. They may benefit from their Jap distribution business though.
Please correct if I'm mistaken - but soaring Yen vs SGD is good for SGX listcos with big Yen revenues like TCIL, CRT, CDLHT, AHT any others?
Leverage can your Best Friend or worst enemy - depending on factors such as capital and currency appreciation, yields, interest rates, etc. Hence frankly I' m more interested about how they can rebalance borrowing into cheap Yen loans instead of dilutive equity placement fund raising. They have a natural hedge if borrowing and revenues are both in Yen while there is upside to S$dpu if Yen strengthens against S$. Anyway just my views and DYODD.
marubozu1688 ( Date: 01-May-2016 23:48) Posted:
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Agreed. Will raise this question in the next AGM.
Goldfinger ( Date: 12-Apr-2016 10:29) Posted:
Thanks for the info.
Was just a little disappointed about the recent placement as they could have done a larger rights issue than previously to maintain shareholder proportionate holdings. Anyway time will tell..
ehclim ( Date: 12-Apr-2016 10:03) Posted:
I think it is Central bank regulation.
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Thanks for the info.
Was just a little disappointed about the recent placement as they could have done a larger rights issue than previously to maintain shareholder proportionate holdings. Anyway time will tell..
ehclim ( Date: 12-Apr-2016 10:03) Posted:
I think it is Central bank regulation.
ehclim ( Date: 12-Apr-2016 10:02) Posted:
From my understanding, it is more likely to save on finance costs and enhance the DPU. They have very good and responsible management team especially the Japanese CFO. Very friendly guy.
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I think it is Central bank regulation.
ehclim ( Date: 12-Apr-2016 10:02) Posted:
From my understanding, it is more likely to save on finance costs and enhance the DPU. They have very good and responsible management team especially the Japanese CFO. Very friendly guy.
Goldfinger ( Date: 12-Apr-2016 09:59) Posted:
| Thanks for the info - is this an internally imposed loan limit ie by the Board or mandated by the lender banks or loan covenants |
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From my understanding, it is more likely to save on finance costs and enhance the DPU. They have very good and responsible management team especially the Japanese CFO. Very friendly guy.
Goldfinger ( Date: 12-Apr-2016 09:59) Posted:
Thanks for the info - is this an internally imposed loan limit ie by the Board or mandated by the lender banks or loan covenants?
ehclim ( Date: 12-Apr-2016 09:55) Posted:
I had spoken to the Japanese CFO during the last AGM, they were allowed to take up to certain limit of loans from Japanese banks for low interest. Beyond the limit the interest rate was not low hence the issued MTN to supplement the bank' s loan.
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Thanks for the info - is this an internally imposed loan limit ie by the Board or mandated by the lender banks or loan covenants?
ehclim ( Date: 12-Apr-2016 09:55) Posted:
I had spoken to the Japanese CFO during the last AGM, they were allowed to take up to certain limit of loans from Japanese banks for low interest. Beyond the limit the interest rate was not low hence the issued MTN to supplement the bank' s loan.
bw2015 ( Date: 12-Apr-2016 09:13) Posted:
At the minimum level their management are smart. Using the super low Japan loan to manage reit. And their reit acquisitions are increase the yield..
I invest in the management |
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I had spoken to the Japanese CFO during the last AGM, they were allowed to take up to certain limit of loans from Japanese banks for low interest. Beyond the limit the interest rate was not low hence the issued MTN to supplement the bank' s loan.
bw2015 ( Date: 12-Apr-2016 09:13) Posted:
At the minimum level their management are smart. Using the super low Japan loan to manage reit. And their reit acquisitions are increase the yield..
I invest in the management |
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Agreed - they typically buy freehold Malls and not leasehold Malls like in Spore and I suspect HK and China?
bw2015 ( Date: 12-Apr-2016 09:13) Posted:
At the minimum level their management are smart. Using the super low Japan loan to manage reit. And their reit acquisitions are increase the yield..
I invest in the management |
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I'm not so sure about the FX hedge part - maybe someone can ask their Management how that works at the next AGM? If it's a currency option it could be that they are protected on the downside but benefit if Yen rises against SGD and their cost is the option premium. if it's a Yen futures contract, it could then be neutralised.
nyde1d1th ( Date: 12-Apr-2016 08:56) Posted:
im sure they hedge their fx risk so they may not gain as much with the strengthening yen...as for tourist...limited impact for them since their retail malls are all in the heartlands non-tourist areas...this is a very good reit...dont miss chance to be shareholder...
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