Buy @ $0.775
Had not been able to buy at a lower price. Neither is it moving up… stalemate. Current plan, no change ie. for Short Term Quarterly results (last Q DPU = 1.51ct). Rechecked SGX Annc since last results,
- 11-Mar : Proposed $18Mil acquisition, most likely to be funded by Debts – Will be mildly accretive to DPU but will also raised Gearing from 29.3% to >30%
- 19-Feb & 29-Jan : Shanghai Summit (via Wealthy Fountain) became substantial sharholder and raised stake to 6.05% – May provide better price stability as Sponsor holds only 22.48%
Shanghai Summit is the investment vehicle of Mr Tong Jinquan (No.70 in Forbes list). Other holdings in SGX REITs,
- VIT 63.45%
- OUE C-REIT 14.4%
- Cambridge 11.01%
- LMIR 8.1%
- Suntec 5.04%
I wonder what he's trying to do…. Perhaps VIT, Cambridge & SB REIT is in his area of competence ie Industrial Assets ; LMIR & OUE C-REIT may indicate a biz relationship with the Lippo Group while Suntec is with Mr Li himself…??? 😀