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chance of not able to repaid the loan is not very high , NAV is 0.87 . now at 0.125 . value for money ?
i note that Saizen directors have been accumulating lots of this counter.
i wonder why. My 2 cents worth is, yes, there is a loan coming due which they may not be able to refinance.
so, the asset (a couple of residential buildings) will be seized by the bond holders?
when we get beyond this issue (due in a couple of months), Saizen has a steady revenue flow from its other residential tenans and can resume dividend payout. admittedly, there is a waiting period for any investor - this stock looks like it's only for the long-term holder.
today up 0.05 cents . almost break 0.13
Saizen REIT has already raised cash by rights and warrants issue. It has also stopped giving out distributions temporarily. All these measures were taken mainly to solve it's refinancing issue. This means that existing unitholders are currently sitting on diluted earnings per unit and uncertain distribution yield at least for this year. So, with a situation like this, it is not surprising to see it's unit price depressed.
An investor has to open eyes big big to assess whether this REIT is worth investing for the long term. The current depressed unit price will only be attractive for a new investor if the investor considers that this REIT can successfully settle it's refinancing issue in near future and continue to provide stable distribution yields for unitholders. Otherwise, there is the danger of getting trapped even in buying at low prices.
<Buying any stock/ unit at low price may not equate to value buys.>
<Value buy is buying ONLY businesses with excellent economics at undervalued price.>
The only reason i tink worth is bec at it current px, dwside limited. upside potential in future still looks okie.
Problem: high interest short term loan at 15% p.a and still will have refinancing problem even after rights.
iceman76sg ( Date: 18-Jun-2009 23:41) Posted:
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Can any one pls explain why this stock is worth investing? ....seem like having finance problem....no div....
saizen have not gone up in this run. anyone can explain.
saizen crawl back to the tomb... i tink they should rest there for sometime 1st..
I sold all my 18000 wt on very first day.... for kopi money!
So after this round of rights issue, shld more or less have settled their refinancing?
refinance issue...
E-war ( Date: 04-Jun-2009 12:15) Posted:
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Hi Seniors, why is this reit px so depressed? Does it have a debt or worse gg concern hanging over its head? Worth to chance a buy now?
yup i got the shares and warrants in my CDP today...hope this counter will rise soon...cheers~!
des_khor ( Date: 04-Jun-2009 11:31) Posted:
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their june 1 announcement said
1. SUBSCRIPTION RESULTS
The Directors are pleased to announce that, as at the close of the Rights cum Warrants Issue on
25 May 2009, valid acceptances and excess applications for a total of 1,102,648,952 Rights Units
with Warrants were received, representing approximately 221.78% of the total number of
497,185,362 Rights Units with Warrants that were available under the Rights cum Warrants
Issue.
hi... so far anyone know the rights result ? I got 1500 shares excess rights share alloted !
let us check it tomorrow
SaizenReit had been at their historical low for about 5-6 months liao. It might be time to wake up soon
Director has been buying up its buying up its rights and also open market purchase.
Similar to FraserComm pattern, this will rise from the death!