With the market running up so much and STI hitting a multi-year high, it has been harder and harder for us to buy stocks. Everything seems so expensive until today! Our latest buy - Ascendas Hospitality Trust 9000 units @ $0.895 :)
Let me give a quick introduction to Ascendas Hospitality Trust. It has 11 9 properties in 7 6 cities, 4 3 countries (Australia, China, Japan and Singapore) valued at $1.6 Billion. Based on the last quarter financial statement, its current NAV is was at $0.891 which translate to a PB of 1.01.
However, on the 29th January 2018 (after market close), Ascendas Hospitality Trust announced that it will be divesting its China investment/properties at a premium of 101.5% above the Independent Valuation. You read that right.
This divestment meant that its NAV would shoot up. Note that the numbers are generated with the assumption that the divestment has taken place at 31st March...