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What Happen to Soilbuild REIT 72 Loyang Way

72 Loyang Way is an integrated facility comprising offices, single-storey production facilities, blasting chamber, dormitory and a jetty with 142 metres of sea frontage. It is one of the asset under Soilbuild REIT’s portfolio.

Last year, due to the headwinds in the marine and offshore, oil and gas industry, Technics Offshore Engineering Pte Ltd defaulted on its rent at 72 Loyang Way. Being a shareholder of Soilbuild REIT, I am worried about the prospects of 72 Loyang Way. Have you also been waiting for some updates on 72 Loyang Way? (more…)

SoilBuild REIT High Yield Provided Investors Can Stomach the Risks

Soilbuild REIT Logo

2016 was an exciting year for SoilBuild REIT. I have been following SoilBuild REIT closely since I held 5% of Soilbuild REIT in my stock portfolio. Activities in 2016 includes the Default of Technics Offshore Marine, Acquisition of Bukit Batok Connection and Preferential Shares Offering.

On 23rd January 2017, Soilbuild REIT has announced its 4Q2016 financial results. Gross Revenue, Net Property Income and Distributable Income has all increased. However, distribution per unit (“DPU”) has fallen by 2.7%. I concluded the decline in distribution per unit to the additional units available due to the preferential shares offering which has diluted its earning per share. (more…)

Soilbuild REIT 3rd Quarter Financial Results A Sea of Red

Soilbuild REIT Logo

Following the completion of offering of preferential offering to acquire Bukit Batok Connection (Read more here), Soilbuild REIT announced its 3Q2016 financial results.

The financial figures are in the sea of red. Gross revenue fell 4.7% from 20.1 million to 19.7 million. Net Property Income (NPI) fell 2.9% from 17.8 million to 17.3 million. Distribution per unit (DPU) fell 13.9% from 1.625 cents to 1.399 cents.

3Q2016
(S$’000)
3Q2015
(S$ ‘000)
YoY(%)
Gross Revenue 19,731 20,701 (4.7%)
Net Property Income 17,264 17,777 (2.9%)
Distributable Amount 14,551 15,147 (3.9%)
Distribution Per Unit (“DPU”) (cents) 1.399 1.625 (13.9%)
Annualised DPU (cents) 4.521 4.873 (13.9%)

(more…)

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