Category: StarHill

Sell @ $0.81, $0.815

Left my original entry @ $0.84 (collected one DPU = 1.25ct). Meant to be short term but got stuck and this "beach-head" led me to buy a couple more batches to average down.

Decided not to wait for Quarterly Results on 30-Oct as the original purpose was for short term. They refinanced their MYR (Malaysia Ringitt) debts in Sep at a lower rate. This will result in lower interest expenses, but, I'm expecting a positive DPU impact only in Dec Q. Altho' their SGX Annc factored in the refinancing costs into a higher effective borowing interest rate (still lower than old rate), I believe the accounting standards would require them to recognise this as an expense ie. we ought to see a lower DPU for latest Q. Anyway, my ball-park estimate is -0.05ct (plucked from air)…. 😀

Buy @ $0.80

Looks like REITs are slowly losing favour again… Funds must be selling ahead of interest rate hikes, even though FED had just reaffirmed that it'll take "considerable time"…. Better try to sell before the next FED mtg in end-Oct…. 😀

Buy @ $0.805

Looks like big seller is around, may be Fund selling… 😀

Buy to average down my previous buy (meant to be short term for last Quarterly reporting). Can either be short term or longer term as Yield >6% ; Gearing <30% & >10% discount to NAV. The latest news is on their Malaysian Borrowings being refinanced at a lower rate, which is positive for DPU.

PS. School Final Exams just started and I'll likely be less active from now….

 

Sell @ $0.835

A chance to clear another of originally short term target during the recent Quarterly Reporting season. Sold at a loss but profit from the Div. There's a big seller lurking around, preventing it from going up and even dropped to an intraday low of $0.825 after my sell Q was cleared. Perhaps a Fund switching out… 😀

Sell @ $0.82

Tried to Jump-Q for $0.825 during 5pm matching but failed. Taking a loss here but will be profitable after DPU is paid out. My free cash level is running low, need to free up some… 😀

Buy @ $0.825

I was happy to Jump-Q for $0.83 but it got matched lower. Looks like someone has a lot to sell, perhaps a fund switching out… 😀

Buy @ $0.84, $0.835

Results was out yesterday evening. DPU = 1.25ct, slightly better than last Q = 1.24ct, but slightly worse off on an annualised basis. Revenue was dragged down by the overseas assets (biggest drop was in Chengdu) but offset by better performance in Singapore and lower Expenses.

Vol = 2,602,000 ; Range = $0.83 to $0.845.

Perhaps the preferred Retail + Office REIT is now FCT, with CMT & Starhill Global falling out of favour?? 😀

Exracts fm CIMB,

Starhill Global Reit on Tuesday posted a distribution per unit of 1.25 Singapore cents for its second quarter ended June 30, a 5 per cent increase from its distribution a year ago. On an annualised basis, this translates to a yield of 6.07 per cent. Unitholders can expect to receive their payout on Aug 28. Net property income rose marginally by 0.2 per cent to S$39.2 million, while revenue fell 1.4 per cent to S$48.4 million. While revenue and net property income from its Singapore operations rose 3.6 per cent and 5.5 per cent, respectively, it was offset by weaker overseas contributions due to falling revenue from Renhe Spring Zongbei in Chengdu, and loss of income contribution from its Japan divestment, Holon L, in March 2014. (BT)

Buy @ $0.84

Itchy fingers, add back to my portfolio. Checking back from kinv blog, my last transaction was Sell @ $0.645 on 28-Jun-11!

DPU expected to stay flat (for past year).

• Yield = 5.988%
• Gearing = 29.6%
• NAV = $0.92

The positives are Gearing & Discount to NAV. Yield is so-so but is No.2 (after FCOT) in terms of Yield in my Retail / Office REIT table. But, likely for short term, just for this Quarterly Reporting season… 😀

Sell @ $0.645. Decided to sell off the balance of my holdings as I'm out of free cash. Someone's buying (maybe got insider info), +2ct (+3.2%) with STI +2.51 (+0.08%) @ 3030.79. 😀

Sell @ $0.645. Reduce my holdings further. Partially done. 😀