Let's see what's on the platter.
5106 AXREIT
Still lingering at RM2.40 level. Sleepy cow :)
AXREIT has been know to be late riser. Things should warm up entering August. RM2.80 target price maintained.
Dividend in H1 2011:
Ex 31/01/2011 Final distribution of 5.25 sen per unit
Ex 11/05/2011 First interim distribution of 4.20 sen per unit
There were a flurry of acquisitions and a disposition completions in the first half. Expect this to trickle in from Q3 2011 reporting onwards.
What I am really looking forward to is the implementation of DRIP or Dividend Re-Investment Plan with expected completion in Q3'11. What had been happening in the past was new units representing 20% of existing shares were placed out to institutional big boys. In a sense, there were dilution of earnings to existing shareholders, but AXREIT management has done a doubly good job in value creation which more than negated the dilution. With the DRIP in place, existing shareholders can continue to participates in the non-diluted growth while the AXREIT management can capitalised on the fund for new acquisitions or carrying out value added improvements on existing properties with minimum drawdown on loan facilities.
It is a win-win proposition.
5127 ARREIT
Moving sideway. Fly swatting first half of 2011.
Dividend in H1 2011:
Ex 25/02/2011 Final distribution of 1.6741 sen per unit
Ex 09/06/2011 First interim distribution of 1.812 sen per unit
5878 KPJ
RM4.60 target met. Setting sight on year end RM5.00 target.
Dividend in H1 2011:
Ex 23/03/2011 Distribution of 5.00 sen per unit
Ex 28/06/2011 Distribution of 2.40 sen per unit
1155 MAYBANK
Swapped CIMB for Maybank.
4308 SUNWAY
Property/construction/merger play. Did a quick short at 2.71 :p
Merger progressing smoothly with expected completion in Q3'11. Target price of RM2.87, 3.00.
5031 TIMECOM
My most recent addition. Time dotCom is trading at PE of 16.3x at RM0.73. Looking to add position on any further weakness. TIMECOM made three significant announcements in the first half of 2011 pertaining DIGI, ASTRO and capital reduction. Quarterly revenues and EPS is on uptick.
RM1.00 target within next 2~3 quarters.
0009 YTLE
Telco play. YTLE's fortune will be closely linked to the success of YTLPOWR/YES. Did a recent entry at the penny threshold. Will add position on further weakness.
YES coverage is at 65% with target 80% coverage by Q4 2011. Potential bumps in the next two quarterly reports stripping out the start-up loss.
6742 YTLPOWR
Telco/power play. EPF, and to a lesser extend ASB have been doing serious accumulation recently at RM2.14~2.20 level. The mark-up phase might have started on the last 3 candles.
YES earnings or potential earnings have not been reflected in the analysts reports. Expect that to change in the next two quarters. In the mean time, accumulate at low levels and make do with the temporary suppressed 5% yield which is ain't too shabby.
5176 SUNREIT
EPF has been accumulating SUNREIT at RM1.04~1.10 level for the past month. I have no clue what gives. But monkey see monkey do. Mark-up phase might have started.
I am looking at RM1.20 year-end target.
Dividend in H1 2011:
Ex 11/02/11 Distribution of 1.75 sen per unit
Ex 16/05/11 Distribution of 1.70 sen per unit
5116 ALAQAR
Hospital REIT. The slowest and dullest in my REIT universe, but is to be expected. All acquisitions are PRTs. Mature hospitals injected in by KPJ to unlock values. Call it a "REIT diversification/portfolio balancing".
Dividend in H1 2011:
Ex 23/03/2011 Distribution of 3.30 sen per unit
WATCH LIST:
0823EA CIMBC25 - KLCI & Hang Seng index ETF
--> Index trading when opportunity arises
7231 WELLCAL
--> Still waiting patiently to enter at floor level. Gives double digits yield.
1368 FABER
--> Trade counter. Starting to move on last 2 candles. Bullets reserve is a bit low currently to take position. Watch from sideline.
