Sorry I was late so I didn't get a good picture :( (Thank you Solace for reserving a seat for me :) )
This AGM was surprisingly good, both investors asked good questions and management was quite open with the answers.
Interestingly, most of the crowd are perhaps at least 40 and above. Seems like quite a few retirees or soon to be retirees.
I also find some weird pleasure that the chairman and CEO is American but the CFO is Asian ^^"
So let's get on to it:
Management considers their REIT to be rather small (~1B in market cap) and seeks to grow the AUM at 20% per annum. They have no target in mind though. I was kind of nervous when I hearthat as I still remember Macarthur Cook REIT during 2008. Although the gearing limits imposed here forces gearing to be much lower (it's currently at around 38% for KORE), this would mean more Rights Issue. At the same time,...