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"Proposed Entry into New Master Lease Agreements
Significantly extends weighted average lease to expiry from 2.0 years as at 31 December 2018 to 4.8 years (by gross revenue) post-entry into New Master Lease
Agreements "
Significantly extends weighted average lease to expiry from 2.0 years as at 31 December 2018 to 4.8 years (by gross revenue) post-entry into New Master Lease
Agreements "
DBS initiated coverage pre-result with target of 86 cents.
Results out after market. Dividend maintained 1.57 cents. Stable and been sustainable for quite some time. Only Reit I know truly tapped on E-Commerce play in which China is huge. Cautiously excited about the long term potential of ECW. Seemed very undervalued and not well understood. Good more and more analysts are starting to take notice.
Remarks : Vested and sharing. Pls DYODD before any buy or sell action.
Results out after market. Dividend maintained 1.57 cents. Stable and been sustainable for quite some time. Only Reit I know truly tapped on E-Commerce play in which China is huge. Cautiously excited about the long term potential of ECW. Seemed very undervalued and not well understood. Good more and more analysts are starting to take notice.
Remarks : Vested and sharing. Pls DYODD before any buy or sell action.
".... the REIT has a strong sponsor support with 44% stake....Following a recent site visit, Natarajan notes that master lease assets are steadily ramping up, with Forchn likely to extend another term."
laksaman57 ( Date: 09-Jan-2019 18:54) Posted:
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https://www.theedgesingapore.com/ec-world-reit-started-buy-rhb-chinas-booming-e-commerce-and-logistics-sectors
Hi, our humble opinion is of the view that the potential risk of inflated valuation and rental is very high, please refer to link below.
https://writingofinvestingnoob.com/2018/09/21/shopping-spree-for-ec-world-reit/
https://writingofinvestingnoob.com/2018/09/21/shopping-spree-for-ec-world-reit/
UBS buying and investing into ECWR is a decision by UBS, and can be respected,... but UBS ' HELPING' HNW clients to buy is a totally different story !
cmengchan ( Date: 10-Nov-2018 13:47) Posted:
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The latest filing said the interest in EC was 1-Feb-2018. So the share ownership was already there more than 9 months ago. I think it's part of some Funds that had total ownership that add up to more than 5%. So I think by law, they need to declare it.
Personally, I think it could be some high yield offshore funds that UBS sells to private clients.
Personally, I think it could be some high yield offshore funds that UBS sells to private clients.
chengwh1 ( Date: 10-Nov-2018 12:21) Posted:
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I wanted to ask on the latest filing by EC World REIT abt UBS SUDDENLY acquiring a huge stake in ECWR and got catapulted to being a substantial shareholder now. The gist of the ann' t is s below :-
UBS disclosed that they have bought a substantial stake in ECWR after the 3Q reporting. Their descriptions in the SGX Filing under ' Other' :-
The Bank of New York Mellon, London Branch provides custodial services as a bare trustee under a Custody Agreement and has a security interest over the Units as trustee under a Trust Deed. The Bank of New York Mellon Corporation is treated as having an interest in the Units by virtue of it being the 100% shareholder of The Bank of New York Mellon. The percentage of unit-holding set out above is calculated on the basis of 784,657,527 outstanding Units at the time of the transaction (1 February 2018)
Did UBS buy this ' personally' or is it their private clients who bought this with UBS as a custodian ? There is lot of difference here.
Does it mean that we should have more confidence with ECWR now since UBS ' bought' so many units of this ctr ??????
UBS disclosed that they have bought a substantial stake in ECWR after the 3Q reporting. Their descriptions in the SGX Filing under ' Other' :-
The Bank of New York Mellon, London Branch provides custodial services as a bare trustee under a Custody Agreement and has a security interest over the Units as trustee under a Trust Deed. The Bank of New York Mellon Corporation is treated as having an interest in the Units by virtue of it being the 100% shareholder of The Bank of New York Mellon. The percentage of unit-holding set out above is calculated on the basis of 784,657,527 outstanding Units at the time of the transaction (1 February 2018)
Did UBS buy this ' personally' or is it their private clients who bought this with UBS as a custodian ? There is lot of difference here.
Does it mean that we should have more confidence with ECWR now since UBS ' bought' so many units of this ctr ??????
Sorry bros,.... apologies,.. I was half-asleep this morning when I wrote this. Thank you for pointing out !!!!!!!
cmengchan ( Date: 10-Nov-2018 09:42) Posted:
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Is this 43% DPU drop referring to LMIRT REIT? EC REIT did not have such drastic result.
chengwh1 ( Date: 10-Nov-2018 07:52) Posted:
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DPU dropped 43% in 3Q repoting,down to only 0.49c. I guessed the good performance in 2Q earlier was not long-lived.
UBS disclosed that they have bought a substantial stake in ECWR after the 3Q reporting. Their descriptions in the SGX Filing under ' Other' :-
The Bank of New York Mellon, London Branch provides custodial services as a bare trustee under a Custody Agreement and has a security interest over the Units as trustee under a Trust Deed. The Bank of New York Mellon Corporation is treated as having an interest in the Units by virtue of it being the 100% shareholder of The Bank of New York Mellon. The percentage of unit-holding set out above is calculated on the basis of 784,657,527 outstanding Units at the time of the transaction (1 February 2018)
Did they buy or did their private clients buy ?? There is a lot of difference here.
UBS disclosed that they have bought a substantial stake in ECWR after the 3Q reporting. Their descriptions in the SGX Filing under ' Other' :-
The Bank of New York Mellon, London Branch provides custodial services as a bare trustee under a Custody Agreement and has a security interest over the Units as trustee under a Trust Deed. The Bank of New York Mellon Corporation is treated as having an interest in the Units by virtue of it being the 100% shareholder of The Bank of New York Mellon. The percentage of unit-holding set out above is calculated on the basis of 784,657,527 outstanding Units at the time of the transaction (1 February 2018)
Did they buy or did their private clients buy ?? There is a lot of difference here.
paul1688 ( Date: 10-Aug-2018 17:42) Posted:
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RHB started their visit. Hopefully will recommend to their clients. 
https://s3-ap-southeast-1.amazonaws.com/investingnote-production-webbucket/attachments/c2cb6578a9f78ec3ccc619e0da0042b5852fa758.pdf?1540364260
https://s3-ap-southeast-1.amazonaws.com/investingnote-production-webbucket/attachments/c2cb6578a9f78ec3ccc619e0da0042b5852fa758.pdf?1540364260
marubozu1688 ( Date: 09-Nov-2018 22:53) Posted:
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EC World REIT is included in Shariah Index.
http://mystocksinvesting.com/singapore-reits/shariah-reit/shariah-compliant-singapore-reit-for-muslim-investors/
http://mystocksinvesting.com/singapore-reits/shariah-reit/shariah-compliant-singapore-reit-for-muslim-investors/
https://m.facebook.com/story.php?story_fbid=1071801742972586&id=1006268986192529&ref=page_internal&__tn__=%2As%2As-R
Excerpts from SooChow CSSD Capital Markets report Analyst: Tan Cheng Wee, CAIA. 8th Auust 2018.
EC World REIT (ECW) reported its 2Q18 results within expectations. 2Q18 revenue +7.6% YoY and NPI +8.2% YoY, driven by contribution from maiden acquisition Wuhan Meiluote.
There is potential for ECW to bridge the gap with its positioning by increasing e-commerce asset exposure from
i) ROFR assets under Sponsor (Fuzhou e-commerce asset is acquisition ready)
ii) YCH partnership
iii) 3rd party acquisitions.
Maintain BUY with TP $0.88/unit.
2Q18 results within expectations: 2Q18 gross revenue +7.6% YoY to S$24.9m, NPI +8.2% YoY to S$22.8m, mainly driven by contributions from ECW&rsquo s first acquisition Wuhan Meiluote. Distribution income of S$12.4m (99.3% payout) +3.1% YoY DPU of S$1.57c +1.9% YoY +6.9% QoQ as 1Q18 results incurred withholding tax expenses from cash repatriation. Portfolio occupancy is firm at 96.7% (committed occupancy: 99.2%) as of 2Q18. Gearing stands at 29.5%, leaving ample debt headroom for acquisitions.
Wuhan Meiluote occupancy upside materialized: While we believe there may have been market concerns on tight acquisition yield of Wuhan Meiluote at 4.9%, we have previously highlighted upside to the asset post stabilization. Existing tenant JD.com expanded within by taking up c.2,900 sqm more space, bringing occupancy up to 88.2% from 82.2% at acquisition and illustrating strong tenant covenants.
Reiterate potential of visible acquisition roadmap: We maintain that ECW possess the potential of bridging the gap to its e-commerce REIT positioning with a visible acquisition roadmap. In the near term, Fu Zhou e-commerce ROFR asset has commenced operations and primed for acquisition in the longer term, partnership with YCH could bring potential pipeline assets for acquisition consideration.
Maintain BUY: We maintain BUY rating and a TP of S$0.88/unit on ECW, in view of yield compression potential as investors gradually digest the inorganic growth trajectory and rising exposure to logistics e-commerce sector. ECW REIT offers attractive FY19E yield of 9.14% and currently trades at undemanding 0.79x P/B.
Remarks : Sharing. Pls DYODD.
EC World REIT (ECW) reported its 2Q18 results within expectations. 2Q18 revenue +7.6% YoY and NPI +8.2% YoY, driven by contribution from maiden acquisition Wuhan Meiluote.
There is potential for ECW to bridge the gap with its positioning by increasing e-commerce asset exposure from
i) ROFR assets under Sponsor (Fuzhou e-commerce asset is acquisition ready)
ii) YCH partnership
iii) 3rd party acquisitions.
Maintain BUY with TP $0.88/unit.
2Q18 results within expectations: 2Q18 gross revenue +7.6% YoY to S$24.9m, NPI +8.2% YoY to S$22.8m, mainly driven by contributions from ECW&rsquo s first acquisition Wuhan Meiluote. Distribution income of S$12.4m (99.3% payout) +3.1% YoY DPU of S$1.57c +1.9% YoY +6.9% QoQ as 1Q18 results incurred withholding tax expenses from cash repatriation. Portfolio occupancy is firm at 96.7% (committed occupancy: 99.2%) as of 2Q18. Gearing stands at 29.5%, leaving ample debt headroom for acquisitions.
Wuhan Meiluote occupancy upside materialized: While we believe there may have been market concerns on tight acquisition yield of Wuhan Meiluote at 4.9%, we have previously highlighted upside to the asset post stabilization. Existing tenant JD.com expanded within by taking up c.2,900 sqm more space, bringing occupancy up to 88.2% from 82.2% at acquisition and illustrating strong tenant covenants.
Reiterate potential of visible acquisition roadmap: We maintain that ECW possess the potential of bridging the gap to its e-commerce REIT positioning with a visible acquisition roadmap. In the near term, Fu Zhou e-commerce ROFR asset has commenced operations and primed for acquisition in the longer term, partnership with YCH could bring potential pipeline assets for acquisition consideration.
Maintain BUY: We maintain BUY rating and a TP of S$0.88/unit on ECW, in view of yield compression potential as investors gradually digest the inorganic growth trajectory and rising exposure to logistics e-commerce sector. ECW REIT offers attractive FY19E yield of 9.14% and currently trades at undemanding 0.79x P/B.
Remarks : Sharing. Pls DYODD.
Strong quarterly result, very nice increase in DPU. Guess market does not understand how to rate this reit. Go for quiet accumulation.
Remarks : Vested. Pls DYODD.
Remarks : Vested. Pls DYODD.
https://www.theedgesingapore.com/ec-world-reit-%E2%80%98buy%E2%80%99-yield-compression-potential
https://www.nextinsight.net/story-archive-mainmenu-60/940-2018/12295-ec-world-reit-unit-price-at-the-most-attractive-in-2-years
Drop quite a bit lately...
Good report but will it goes up?
https://www.nextinsight.net/story-archive-mainmenu-60/940-2018/12260-ec-world-reit-sponsor-s-asset-ripe-for-injection-says-analyst
Good report but will it goes up?
https://www.nextinsight.net/story-archive-mainmenu-60/940-2018/12260-ec-world-reit-sponsor-s-asset-ripe-for-injection-says-analyst
The reply by the board/chairman to the question by SIAS and during the agm of the resignation of the the 1st CEO Mr Lai Hock Meng was due to medical reasons. This did not match the reason given in the SGX ann on 21 Apr 2017. The reason given than was " to pursue personal and other bussiness interest " Is the board hidding something from the minority shareholders?
Starship ( Date: 21-Apr-2018 15:03) Posted:
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