Author: The Fifth Person

13 things to know about Mapletree Logistics Trust before you invest

Mapletree Logistics Trust (MLT) was listed on 28 July 2005 as the first Asia-focused logistics REIT in Singapore. The REIT owns logistics real estate located in Singapore, Hong Kong, Australia, China, Japan, Korea, Malaysia, and Vietnam. As at 31 March 2018, MLT was valued at S$3.76 billion in market capitalization. In this article, I’ll give you an overview of MLT’s performance over the last 10 years and an update on its growth plans for the near future. Here are 13 things you need to know about Mapletree Logistics Trust before you invest. Track record 1. MLT has achieved a...

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7 things I learned from the 2018 Singapore Post AGM

2017 was a tumultuous year for Singapore Post (SingPost) as it suffered a S$185 million impairment loss on TradeGlobal amid accusations of serious lapses in corporate governance surrounding the acquisition of the e-commerce provider. The previous board, except for two directors, was removed and a new CEO was appointed after the incident. At the 2017 annual meeting, the new management team took pains to handle the fallout from the acquisition and set plans to turn the company around. So this year I’m back at the AGM to observe how the turnaround plans have (or haven’t) panned out. Here are...

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8 things I learned from the 2018 Mapletree North Asia Commercial Trust AGM

On 25 May 2018, Mapletree Greater China Commercial Trust was renamed Mapletree North Asia Commercial Trust following the completion of the acquisition of six freehold office properties located in Japan. Mapletree North Asia Commercial Trust (MNACT) now owns nine retail and office properties located in Hong Kong, Beijing, Shanghai, Tokyo, Chiba, and Yokohama. As of 31 March 2018, its portfolio was valued at $6.3 billion. We’ve been to the REIT’s annual meetings previously in 2015, 2016, and 2017. This year, I wanted to know more about the management’s rationale investing beyond Greater China into Japan, and to evaluate the...

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The Fifth Person wins best independent investment website at SGX Orb Awards

The Fifth Person is honoured to have won best independent investment website in the ‘GoTo.com’ category at the inaugural SGX Orb Awards organised by the Singapore Exchange (SGX). The award recognises the independent investment-related website or financial blog that most empowers investors to make educated decisions with their money. The Fifth Person chief editor, Adam Wong, received the award from SGX CEO Loh Boon Chye at the annual Media Appreciation Night held on 19 July in Singapore. Award winners from five other categories at the event included CNBC, Channel NewsAsia, The Straits Times, The Business Times, and The Edge....

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Frasers Commercial Trust has posted 4 consecutive quarters of falling revenue, what next?

Frasers Commercial Trust (FCOT) is a Singapore-listed REIT that owns office buildings and business parks located in Singapore, Australia, and the UK. After FCOT posted its Q2 2018 results on 20 April, its share price fell from $1.48 to a low of $1.35 on 21 May – a drop of 8.9% over a matter of weeks. In this article, I’ll share the cause of FCOT’s fall in share price and whether it’s still able to deliver sustainable distributions to unitholders in the near future. Here are five things to know about Frasers Commercial Trust before you invest: 1. Four...

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12 things to know about Jardine Matheson before you invest

Jardine Matheson Holdings Limited (SGX: J36) is a conglomerate with multiple business interests located across the Asia-Pacific. Presently, it derives income from the following subsidiaries: 100% shareholding of Jardine Pacific 100% shareholding of Jardine Motors 84% shareholding of Jardine Strategic (SGX: J37) As I write, Jardine Matheson is amongst the top 30 constituents of the Straits Times Index and is worth US$23.6 billion in market capitalization. For this article, I’ll bring an overview of each of Jardine Matheson’s subsidiaries over the last 10 years, the group’s financial results, and provide an update on its newest acquisitions made in 2017...

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8 things I learned from the 2018 First REIT AGM

First REIT is a Singapore healthcare real estate investment trust (REIT) that invests in healthcare and healthcare-related real estate assets throughout Asia. Managed by Bowspirit Capital Corporation Limited, the REIT has a portfolio of 20 properties across Asia: 16 properties operating under the Siloam Hospitals Group in Indonesia, three nursing homes in Singapore, and a hospital in South Korea. As of 31 December 2017, First REIT has S$1.35 billion in assets under management. This year, there was a change in leadership. Chairman Albert Saychuan Cheok and chief executive officer Dr Ronnie Tan retired after many years of service and...

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12 things to know about First REIT before you invest

First REIT listed on the SGX on 11 December 2006 as the first healthcare REIT in Singapore. It owns hospitals, nursing homes, and rehabilitation centres located in Indonesia, Singapore, and South Korea. As at 31 March 2018, First REIT’s portfolio is valued at S$1.35 billion. In this article, I’ll bring an overview of First REIT’s performance since its IPO and its growth prospects for the near future. Here are 12 things that you need to know about First REIT before you invest. Geographic segments 1. Indonesia has been a key income contributor and growth driver for First REIT. In...

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10 things we learned from the 2018 Public Bank AGM

At the 2017 Public Bank AGM, founder and non-executive chairman, Tan Sri Dato’ Seri Dr. Teh Hong Piow, announced that he would be resigning from his role in January 2019 and the appointment of a new chairman would be announced when the right successor has been identified. So at this year’s Public Bank AGM, we wanted to find out whether if a successor has been found, or if the chairman has changed his mind on retirement. As usual, the AGM was packed with shareholders and proxies who were keen to gain more valuable insights on the company — we...

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PropNex IPO – 4 quick things to know before you invest

PropNex Limited is the latest stock initial public offering (IPO) on the Singapore Exchange. Shares of the home-grown real estate service group debuted at 68.5 cents on Monday and rose as high as 22% in its first day of trading before closing at 71.5 cents. The 2.125 million shares offered for public subscription was subscribed 24.6 times, indicating buoyant sentiment among investors for the PropNex IPO and the local property sector in general. If you’re looking at the PropNex IPO with interest, here are four things to know before you invest: 1. PropNex is the largest real estate agency...

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8 things we learned from the 2018 MRCB-Quill REIT AGM

The Malaysian office market in 2017 remained subdued mainly due to the oversupply of office rental space and soft economic growth. In the third quarter of 2917, Klang Valley had a total supply of 104.7 million square feet of office space. As such, many landlords were forced to offer lower rents and rent-free periods to attract potential tenants. Despite the challenging year, MRCB-Quill REIT (MQ REIT) — which owns 11 office properties with a market value of RM2.2 billion — posted a solid set of results for 2017. We attended its most recent annual meeting to find out more....

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Are we headed for another recession? The yield curve is at its flattest since 2007, before the Global Financial Crisis…

You may or may not already have heard that the U.S. treasury yield curve is at its flattest since 2007 – the year before the 2008/09 Global Financial Crisis. Is this a potential sign of things to come? But before I delve into that, I guess a bit of background information is in order. What is the yield curve? The yield curve shows the spread (difference) between the interest rates of short-term and long-term U.S. Treasury bonds. For example, the current interest rate for the 10-year U.S. Treasury bond is 2.83% and the interest rate for the one-year U.S....

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6 things we learned from the 2018 IGB REIT AGM

When Mid Valley Megamall started operations in Malaysia in 1999, it introduced the new retail concept of the ‘megamall’ by incorporating together the best in retail, food, and lifestyle offerings under one roof. The concept has proven to be a mega-success (pun intended) and adapted by many other malls in Malaysia since. The owner of Mid Valley Megamall, IGB REIT, has seen its share price perform relative well over the last few months even though many Malaysia retail REITs have been badly affected due to rising interest rate, a soft retail market, and the upheaval caused by the recent...

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12 things you need to know about Maybank before you invest (updated 2018)

Formed in 1960, Malayan Banking Berhad (Maybank) operates more than 2,400 branches across 20 countries including all 10 nations in Southeast Asia. Presently, it is the fourth largest banking group in Southeast Asia. As of 14 June 2018, Maybank is worth RM106.8 billion in market capitalization and is the only stock in Malaysia that has exceeded the RM100 billion mark. In this article, I’ll bring a detailed account of Maybank’s past performance over the last 10 years and its outlook toward the near future. Therefore, here are the 12 things you need to know about Maybank before you invest....

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