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Another Tenant Default for Soilbuild Business Space REIT

Soilbuild REIT Logo

Another bad piece of news for Soilbuild Business Space REIT investors out there. NK Ingredients Pte Ltd, the sole tenant for 2 Pioneer Sector 1 has defaulted on its rent. If you do not know, NK Ingredients Pte Ltd is one of the top ten tenants contributing 5.8% of Soilbuild Business Space REIT monthly gross rental income.

Soilbuild REIT has called upon the insurance guarantee today. The balance of the insurance guarantee of S$1,689,556.67 is equivalent to approximately four months of rent.

The stock price reacted to the bad news and plunged from $0.73 to $0.69 before closing at $0.70. It seems that I am a bit late in running now.

 

Tai Sin Electric Revenue Fell Due to Prevailing Uncertainties In The Market

Share price of Tai Sin Electric fell today 4.5% today to S$0.425 after releasing a set of weak results. Tai Sin Electric reported revenue declined 12.86% from $320.91 million last year to $279.65 million.

In my previous post (My Personal Analysis of Tai Sin Electric Limited), I mentioned about Tai Sin Electric’s revenue and profits are very dependable on the construction sector which is cylindrical. Not withstanding the slowdown in the property market and continued economic uncertainties, revenue declined across all its business segments (Cable & Wire (C&W), Electrical Material Distribution (EMD), Switchboard (SB), Test and Inspection (T&I)).

It is important to check if Tai Sin Electric is still able to generate enough cash flow to tide through the current uncertainties. In current 2017, net cash from operating activities was 37.4 million. Cash flow for Tai Sin Electric is still going strong despite gloomy economical conditions and it has been growing since 2012. Read More

Thai Beverage Thinks Beer and Fried Chicken Is A Good Match

Thai Beverage plans to acquire 240 KFC branches for 11.3 billion baht via its subsidiary QSR of Asia (QSA). This makes them the third KFC franchisee in Thailand. The other two franchisee are Central Restaurant Group and Restaurant Development Co Ltd.

The brand KFC (“Kentucky Fried Chicken”) is owned by the Yum! Brands Inc, based in Louisville. Drilling into the 4th quarter 2016 results for Yum! Brands Inc, Thailand is considered as an emerging market and contributes 2% of KFC sales. For the full year, KFC sales in Thailand grew 6%. The highest sales contributor for emerging market is China with 27% contribution. Read More

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