Kep Infra Tr    Last:0.52    +0.01

KIT

https://www.financetalking.com/_popup-financial-glossary.php?id=1257#:~:text=A%20difference%20between%20the%20time,all%20about%20budgeting%20and%20forecasting.

Above link gives. Us exact definition of timing difference.

 

I see timing differences as a Systematic error that occurs in this company's reporting which will be rectified in the next reporting period. So don't take in too much from a quarterly business update because there are timing errors that can only be rectified when the reporting is taken over a longer time frame.

I don't see timing differences causing the company not to pay its obligations on time

 

I would like to point out 2 pts as in the below :-

1) From the disposal of PCSPC : As significant capital will be required to grow and scale up PCSPC, which would in turn further entrench KIT in the business, KIT Trustee-Manager took the opportunity to divest the asset. In addition, the Transaction would strengthen KIT&rsquo s balance sheet and increase its financial flexibility to pursue other growth initiatives.

2) From the 3QFY24 Business Upd : 9M 2024 Distributable Income (DI) was $106.1m versus 9M 2023 DI of $266.1m which included a special distribution of $131.2m  Adjusting for one-offs and timing differences, 9M 2024 DI would be $124.0m1, 11.2% lower y-o-y

To 1) above,... emm, how come the Trust Mgr did not see this significant capital requirement needed earlier before they acquired the asset ? They could have NOT bought the asset, but isnread utilise the funds to acquire Ventura w/o the need to do an EFR.

To 2) above : We are seeing the words : timing diffrences again. These timing diff' s are causing KIT to risk not being able to fulfill their commitments to unitholders and the creditors, hence they needed to dispose of their 50% of PCSPC.

Swopped-over mmy KIT holdings to Boustead SG & BRC Asia in 27-29, August & 5 September earlier this year respectively,..... can' t elaborate too much now, sorry,... need to listen to MLT' s webcast now. MLT is also painful today,....

chengwh1      ( Date: 29-Aug-2024 18:55) Posted: Ok,... I have not followed the full chain of events,... but I do remember when I drove thru Hobart and the northern port-town in Tasmania many yrs ago, Basslink was always in my mind,.... Thank you to bro prophet too for ur good points,... I have ' swopped' some of my KIT holdings for Boustead SG Ltd (F9D), ie sold KIT and bought BSL. I think the this risk-reward matrix is better. MrBear12      ( Date: 29-Aug-2024 11:33) Posted: Cityspring was priced too highly at IPO and faced problems almost immediately with basslink. Only a cash call at big discount saved it. I was one of those white knights who risked quite a bit to save it. Not pure luck， lots of guts and work

 

I think the proposed sale of the Philippines coastal pipeline asset is good. Small realised profit and reduction of debt and redeployment of capital.

 

40 percent gearing is healthy for KIT as it is able to service its interest payments and still distribute stable dividends.

Other viewpoints?

 

Biz update out...is 40% debt load a detriment for this company? Views from the bear and others please

 

This one went cold ...

 

Good run :)

 

They can ave lower

Alignment      ( Date: 05-Sep-2024 11:35) Posted: If it falls to 43.5 then the private placement guys start to be in the red.

 

If it falls to 43.5 then the private placement guys start to be in the red.

 

Sure thing!
Glad to meet a fellow engineering investor

 

Ok brother,... I' ve not sold-off all of my KIT units. Just 50%,... to me, Boustead is worth a look as the catalyst is the recent re-unification with BPL. Great discussion we had earlier. Thank you.

MrBear12      ( Date: 29-Aug-2024 18:58) Posted: To me, boustead is a very old company that should just be acquired by a bigger entity. KIT assets are far more exciting. Just my view. No offence to any

 

To me, boustead is a very old company that should just be acquired by a bigger entity.

KIT assets are far more exciting.

Just my view. No offence to any

 

Ok,... I have not followed the full chain of events,... but I do remember when I drove thru Hobart and the northern port-town in Tasmania many yrs ago, Basslink was always in my mind,....
Thank you to bro prophet too for ur good points,...
I have ' swopped' some of my KIT holdings for Boustead SG Ltd (F9D), ie sold KIT and bought BSL. I think the this risk-reward matrix is better.

MrBear12      ( Date: 29-Aug-2024 11:33) Posted: Cityspring was priced too highly at IPO and faced problems almost immediately with basslink. Only a cash call at big discount saved it. I was one of those white knights who risked quite a bit to save it. Not pure luck， lots of guts and work

 

You can be consultant to KIT.
And adjunct consultant on utilities matters at sharejunction.

prophetjul      ( Date: 29-Aug-2024 11:39) Posted: 40 years in utilities. :) MrBear12      ( Date: 29-Aug-2024 11:36) Posted: You invest in what you know best. That is utilities. If I had earlier known you were in this industry, I would have headhunted you to manage my proposed utilities outfit. Now, we can only let others manage while we rue bad management.

 

40 years in utilities. :)

MrBear12      ( Date: 29-Aug-2024 11:36) Posted: You invest in what you know best. That is utilities. If I had earlier known you were in this industry, I would have headhunted you to manage my proposed utilities outfit. Now, we can only let others manage while we rue bad management. prophetjul      ( Date: 29-Aug-2024 09:45) Posted: Exactly. This trust gives us an opportunity to partake in the profits of owning utilities.  Utilities can generates decades of cashflow for shareholders if managed well.  i should know. i manage one.

 

You invest in what you know best. That is utilities.
If I had earlier known you were in this industry, I would have headhunted you to manage my proposed utilities outfit.

Now, we can only let others manage while we rue bad management.

prophetjul      ( Date: 29-Aug-2024 09:45) Posted: Exactly. This trust gives us an opportunity to partake in the profits of owning utilities.  Utilities can generates decades of cashflow for shareholders if managed well.  i should know. i manage one.    ) MrBear12      ( Date: 29-Aug-2024 09:40) Posted: If I were a billionaire, I would just own it and run it myself. If I weren't, I'd gather a bunch of like minded people and set up an equity fund to buy up and manage the pipeline or gas plant. But alas, I have no energy to do that now, so I make believe I own a gas plant by becoming a minor shareholder in a trust that owns one.

 

Cityspring was priced too highly at IPO and faced problems almost immediately with basslink. Only a cash call at big discount saved it. I was one of those white knights who risked quite a bit to save it.

Not pure luck， lots of guts and work

 

Just thinking here a bit,... you are lucky that Cityspring did not go into suspension nor dropped further with dividends suspended..... forever. Cityspring (CTS) was ' saved' by Keppel Corp, by integrating its assets with KMC,... if my memory serves me correctly. I have not held anymore after I cutloss CTS, but kept up with the news only,... If you had not cutloss,... CTS could have ended-up like EC World REIT or Manulife US REIT today.

MrBear12      ( Date: 28-Aug-2024 21:01) Posted: You are faring better than me 16 years ago when I bought this one. It was then known as citysprings. The GFC hit and I was 40 plus percent in the red after less than a year. I held on for another 15 years plus. And now have almost 100% returns. One must be patient to earn for this one. chengwh1      ( Date: 28-Aug-2024 19:37) Posted: Thank you. My hldg price is 51.18c. When I looked at my Dashboard now, the ' Profit/Loss%' column shows a red-colored 11.10% with a closing price today of 0.455. If the price stays at this level or falls further, my dpu earned at 7+% will not be able to cover my capital loss. Any comments then

 

Exactly. This trust gives us an opportunity to partake in the profits of owning utilities. 
Utilities can generates decades of cashflow for shareholders if managed well. 
i should know. i manage one.    )

MrBear12      ( Date: 29-Aug-2024 09:40) Posted: If I were a billionaire, I would just own it and run it myself. If I weren't, I'd gather a bunch of like minded people and set up an equity fund to buy up and manage the pipeline or gas plant. But alas, I have no energy to do that now, so I make believe I own a gas plant by becoming a minor shareholder in a trust that owns one. prophetjul      ( Date: 29-Aug-2024 09:31) Posted: Problem is how can you own a gas pipeline on your own?  :) Or a power generation plant?  This trust gives us an opportunity to own that.