October 2018 Financial Results Announcement Dates

It is almost coming to the end of the year and I am expecting to receive my last tranche of dividends payout from the REITs I am holding. With the recent announcement of Fed interest rate hike, it impacted the share price of REITs, causing them to decline slightly. For the past week, the stock market was in a sea of red. However, the stock market managed to recover slightly and re-bounced back on Friday, 12th October 2018.

The risk that I am expecting for Frasers Logistics and Industrial Trust has actualized as AUD weakened further against the Singapore dollar (1 AUD to 0.98 SGD). The market has reacted to this and the share price of Frasers Logistics and Industrial Trust fell lower to S$1.04.

Below are the date of results announcement for some of the REITs I am holding in my stock portfolio.

Stock Name Percentage of My Stock Portfolio Date Of Results Announcement
ST Engineering 16% Not applicable
Frasers Logistics and Industrial Trust 15% 5th November 2018
ParkwayLife REIT 11% 25th October 2018
CapitaMall Trust 11% 25th October 2018
Mapletree Commercial Trust 11% 24th October 2018
ComfortDelgro 8% Not applicable
OUE Hospitality Trust 4% Not applicable
The Hour Glass 3% Not applicable
Kingsmen Creative 3% Not applicable
Frasers Commercial Trust 2% 19th October 2018

Looking forward to collecting my dividends!

Funan Opening Ahead of Schedule in 2Q2019

Time really flies and I remembered I wrote about Funan DigitaLife Mall being closed for redevelopment in the year 2015 (Read more: Funan DigitaLife Mall Closing for Redevelopment). There is a piece of good news for CapitaMall Trust share holders. Funan is opening ahead of schedule in 2Q 2019. The retail as well as its office components are now slated to open in 2Q 2019, instead of the earlier announced 3Q2019.

The opening of lyf Funan Singapore, a coliving serviced residence component within Funan, managed by The Ascott Limited, has also been brought forward from 2020 to 4Q 2019. Read More

Taking a Look Into CapitaMall Trust Acquisition of Westgate

Last month, CapitaMall Trust has announced the proposed acquisition of the remaining 70.0% of the units in IMT which holds Westgate from CMA Singapore Investments (4) Pte. Ltd. and CL JM Pte. Ltd for $789.6 million. Including acquisition related expenses, it was estimated to cost $805.5 million.

Westgate is one shopping mall where I vaguely remembered a small section of its ceiling collapsed due to heavy rain in the year 2014.

If you didn’t know, CapitaMall Trust currently owns 30.0% of units in Infinity Mall Trust (IMT) which holds Westgate. Investors are negative about the proposed acquisition as they felt CapitaMall Trust had overpaid for the acquisition. Moody, a credit rating agency had also downgraded CapitaMall Trust rating from “stable” to “negative”. Moody explained the downgrade in rating is because the acquisition will likely increase CapitaMall Trust’s debt leverage, which in turn will reduce the headroom within the A2 ratings. Read More