Shares & Derivatives
Ascendas India Trust Analysis @ 1 July 2020
By REIT-TIREMENT  •  July 1, 2020
Basic Profile & Key Statistics Ascendas India Trust (AIT) is not a REIT, it is listed as Business Trust which own majority properties in IT parks. AIT has been running similar to SREITs which distribute 90% of distributable income. Current market cap is S$ 1.47 billions which is around 15% higher than SREITs median. AIT has the same sponsor as Ascendas REIT, which is Capitaland. Lease Profile AIT occupancy is high at 99%. WALE is slightly shorter at 3.6 years. Do note that AIT only provide WALE weighted by NLA instead of GRI. Its income is received in Indian Rupee, thus posts forex risk. Currency hedging could not provide protection for long term currencies deprecation. All of its properties are freehold. Debt Profile Gearing is healthy at 28%, however, business trust has no restriction on gearing. Cost of debt is high at 5.9% which is normal in India. Fixed rate debt is high at 81%...
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By REIT-TIREMENT
I am Vince and welcome to my blog. I started this blog on 1st January 2019. Since the start of my investment journey, I have been fond of REITs because of its dividends. REITs allowed you to become a property landlord and get rental income without having to fork out large sum of initial capital, look out for tenant as well as manage the properties ...
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