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yea rising from the tomb le.. too bad i too impatient n thrown them liao..
pharoah88 ( Date: 14-Jan-2010 12:30) Posted:
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It is recovering now
Any news on this stock?
just nw got 0.13.. duno who gt it
They have successfully refinance most of the loan.
worth to invest
yes.. long term still will be good bec its cheap now
Zelphon ( Date: 08-Oct-2009 13:55) Posted:
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Hmm..
Just vested @ 0.135 today..
Looking at the steady cashflow..
I think it is a gd long term counter..
Just went thru the annual report and recent asset sale..
It is well within expectation..
Hope it pays dividends by mid 2010 than end 2010..
freeme ( Date: 08-Oct-2009 13:36) Posted:
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bec they due to pay up debts which they cant finance.. some property under them will be taken by creditor if cannot payup..
Zelphon ( Date: 08-Oct-2009 13:34) Posted:
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Hmm...
Why is this stock falling when Japan is now recovering ??
A Quick Look at Saizen REIT
Current Price 0.15
NAV 0.40
Gross Revenue FY09 vs FY08 +19.8%
Current Liabilities 18.2billion Yen (14.9billion is borrowings due, Jun 09) vs 6.9billion Yen (5.3billion is borrowings, Jun 08)
Asset devaluation~ 42.7billion Yen (Jun09) vs 49.06billion Yen (Jun08)
Occupancy rate ~ 91.6% (june09)
"The trust will use its operational cashflow, proceeds from its $41.3 million rights issue and short-term bridging loan of 400 million yen to repay the loans of YK Kokkei, YK Shingen and YK Keizan that are due in November 2009, December 2009 and January 2010 respectively."
Verdict: If asset devaluation continues in Japan, expect NAV to hit lower.
Saizen is currently offloading some of its properties such as U.I. Building, Crestage Tayacho and Legions Yunokawa, therefore net asset value will decrease for FY2010, assuming this is a form of fundraising for its debt of 14.9billion due this year. Expecting more properties to be diversified in short-mid term to resolve its refinancing issue (unless there are better alternatives, but quite unlikely).
Looking ahead, its future seems optimistic once this refinancing issue is resolved (fairly optimistic about this), with the counter's target of resuming its distribution in mid-,end-2010, it should be able to attract investors to give its share price a boost in mid-long term of at least 6months from now, if the economy situation in Japan improves.
Any calls for this REIT counter, anyone? Main concerns seem to be its ability to refinance its debt due this year.
Moody rating Caa (speculative). How do you all see this counter if the property valuations in Japan continue to be down, say in another 1-2years time?
Anyone, any feedbacks?
Agreed, refinance issue solve this will overturn to gem!
pharoah88 ( Date: 30-Aug-2009 17:21) Posted:
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There is a BIG BOMB hidden.
Hundreds of Millions in loans DUE in DECEMBER 2009.
WithOUT enough CASH to service these loans, SAIZEN will CRASH in December 2009.
With the THRASHING of NAValuation from S$0.85 to S$0.40, further TOP-UP is probably required by the lenders.
HIGH NAV was actually a TRAP for those UNinformed or MISinformed.
BEWARE# and BECARE!
after rights 10:11 mah..
WOW !!!
NAV fell from S$0.85 to S$0.40 after the valuation report released today !!!
Source: http://reitdata.blogspot.com/
mid year result coming out this month...
Funny lo.. cheap cheap nobody want... when move up liao then all are chasing ??
this baby finally going up. highest @ 0.145
Today at 0.135
People in Japan still need housing , they cant be sleeping in the street. Hence is better than others reits.
This one cheap cheap man... high risk high gain... your choice !