First REIT share price has crashed till S$0.535 as at 28th August 2020. While many REITs have recovered from the record low during the stock market crash in March 2020, First REIT has once again sunk to another new trough. From 2nd Jan 2020 price of S$1.00 per unit, the current price of S$0.535 per unit means a whopping 46.5% plunge in equity value of investors and is a total disaster.
I am glad that I have bite the bullet and sold off all my First REIT units in June’20 from my margin portfolio as well as cash portfolio ever since the shocked announcement by the sponsor asking for restructuring of the entire rental leases without informing First REIT management team. In May’20, Lippo Malls Indo Retail Trust was downgraded by Maybank Kim Eng from Grade A to a Non-Marginable status. I have a bad feel that First REIT maybe added to the non-marginable list if things