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aiinvestor US semiconductor stocks break out.,

PHLX Semiconductor (^SOX) is up 1,59% now.
https://finance.yahoo.com/quote/%5ESOX/components/
10/03/2018 12:18 AM
aiinvestor Chips are ripping higher and Dow stock Intel could see a bigger breakout
https://www.cnbc.com/2018/03/09/chips-rip-higher-and-dow-stock-intel-could-see-a-bigger-breakout.html
10/03/2018 3:09 AM
tecpower Stronger Semiconductor 2018 Than Previously Forecast
In a move reminiscent of the continual upward revisions to semiconductor market forecasts that characterized 2017, market watcher IC Insights has increased its forecast for semiconductor industry growth this year to 15 percent from a previous projection of 8 percent.

Wow
https://www.eetindia.co.in/news/article/18031503-stronger-semiconductor-2018-than-previously-forecast
15/03/2018 11:22 PM
davidsmith As per my analysis, Sunright Ltd ( S71) is an fair value stock for trading. Moreover you I can see a good opportunity of investment in this stocks. It may take good movement in near future.
19/03/2018 8:43 PM
tecpower Goldman Says World’s Best Bet Right Now Is Emerging Market Stocks
https://www.bloomberg.com/news/articles/2018-03-15/goldman-s-patel-says-emerging-market-stocks-are-world-s-best-bet

Buy Kesm as well.
21/03/2018 12:54 AM
davidsmith Sunright stocks is about to come across its over sold level, soon it may take a up movement as per the RSI indicator.

Right now it is at 35 points, may it will take deep up to 30-25 and that point it may take an up movement till its 50 points.
So be clam and wait for good opportunity.
21/03/2018 8:19 PM
hstha Electronics was once again the star performer, expanding 17.4 per cent last month compared to a year ago. This was attributed mainly to the booming semiconductors segment, which posted a robust growth of 26.7 per cent.
http://www.straitstimes.com/business/economy/singapore-factory-output-up-89-in-february-better-than-expected
26/03/2018 10:37 PM
hstha How Singapore’s wealth fund invests in technology companies | http://www.klsescreener.com/v2/news/view/358193
26/03/2018 21:29
26/03/2018 11:10 PM
tecpower Semiconductor stocks turned in some of the market's best performances on the day, driving the Philadelphia Semiconductor Index up by 4.24 percent.
27/03/2018 8:02 AM
davidsmith There is one support and one resistant as per the today's closing position of this stocks.
And indicators are showing downtrend by tomorrow morning.
May be it take dive up to 0.8400 from 0.8700. Please put tight stoploss and trade safely.

Thanks
28/03/2018 9:45 PM
tecpower China cuts tax rates for chipmakers amid trade tensions
https://www.reuters.com/article/us-china-semiconductors-taxbreaks/china-cuts-tax-rates-for-chipmakers-amid-trade-tensions-idUSKBN1H60JM
30/03/2018 8:51 PM
tecpower China's response is a surprise for some people," said Julian Evans-Pritchard, senior China economist at Capital Economics, noting that neither said had yet called for enforcement of the tariffs.

"It's more of a game of brinkmanship, making it clear what the cost would be, in the hopes that both sides can come to agreement and none of these tariffs will come into force," he said.

Beijing's list of 25 percent additional tariffs on U.S. goods covers 106 items with a trade value matching the $50 billion targeted on Washington's list, China's commerce and finance ministries said. The effective date depends on when the U.S. action takes effect.

https://www.nbcnews.com/news/china/china-slaps-tariffs-50-billion-u-s-goods-trade-dispute-n862611
04/04/2018 8:31 PM
aiinvestor A trade war has not started yet. Today most investors misunderstood that a trade war had started.

The trick is that the US and China did not state when tariffs would be effective, so there is still possibility of discussion about trade tariffs.
05/04/2018 7:19 AM
paperplane Kesm price is in yo-yo. Until they willing to circulate more shares out there, this sunlight gonna yo-yo along!Good luck trading
05/04/2018 11:28 PM
hstha Republicans Warn Trump a Trade War Risks Party’s Chances in November
http://www.ttnews.com/articles/republicans-warn-trump-trade-war-risks-partys-chances-november
06/04/2018 12:19 AM
aiinvestor Trump’s trade war conveniently targets Ivanka’s fashion competitors
https://shareblue.com/trump-trade-war-ivanka/
07/04/2018 11:59 PM
hstha Buy KESM, a related company, as well.
09/04/2018 9:33 PM
hstha Chinese President Xi Jinping pledged on Tuesday (Apr 10) to lower car tariffs this year and take other steps to further open the world's number two economy, indirectly addressing major complaints by the United States in a simmering trade row. -------->

Buy automotive semiconductor stocks like KESm ans Sunright.
10/04/2018 9:02 PM
hstha Kesm and Sunright are in a very good position.

1. China cuts tax rates for chipmakers amid trade tensions
https://www.reuters.com/article/us-china-semiconductors-taxbreaks/chin...

KESM has a subsidiary in China. Kesm is likely to benefit from that.

2. The US has already reduced the corporate tax rate. ->
Kesm has business dealings with virtually all the American semiconductor manufacturers. Kesm is likely to benefit from that.

3. China's Xi Jinping says tariffs on car imports will be cut this year. -> Kesm has business dealings with virtually all the American semiconductor manufacturers. Kesm is likely to benefit from that.

At first most people thought the US and China would end up with a lose-lose situation. But for Kesm things have already turned out to be a win-win situation.
10/04/2018 9:59 PM
tecpower Sasse says Trump has directed Lighthizer, Kudlow to look into joining TPP
https://www.marketwatch.com/story/sasse-says-trump-has-directed-lightizer-kudlow-to-look-into-joining-tpp-2018-04-12?mod=bnbh
13/04/2018 1:07 AM
aiinvestor Two large Chinese ingot and wafer makers have announced bold plans to expand their capacities beyond anything seen to date.

At the end of February, Zhonghuan Semiconductor Chairman and General Manager Shen Haoping braved the bitter cold to personally inspect the installation of new monocrystalline ingot furnaces at the company’s factory in Inner Mongolia, nestled between the Blue Mountains and the Hetao Plateau.

https://www.pv-magazine.com/2018/04/14/the-weekend-read-chinas-monocrystalline-boom/
19/04/2018 9:26 AM
hstha Singapore factory output up 5.9% in March amid strong semiconductor growth
27/04/2018 8:46 AM
hstha https://www.businesstimes.com.sg/government-economy/singapore-factory-output-up-59-in-march-amid-strong-semiconductor-growth
27/04/2018 8:46 AM
hstha You should know that wafer acts like buffer.


When semiconductor demand increases, wafer shortage may prevent Kesm's net profit from increasing rapidly.

When semiconductor demand decreases, wafer utilisation rate will increase, so it may prevent Kesm's profit from decreasing rapidly.

That's why it is unlikely that Kesm's net profit will decrease rapidly.
27/04/2018 8:47 AM
hstha Part of the reason why wafer shortage still continues is because wafer demand has been increassing rapidly, so it is not necessarily a bad thing.
27/04/2018 8:49 AM
aiinvestor First Quarter 2018 Silicon Wafer Shipments Increase Quarter-Over-Quarter to Record Level
Milpitas, Calif. — May 14, 2018 — Reaching their highest recorded quarterly level ever, worldwide silicon wafer area shipments jumped to 3,084 million square inches during the first quarter 2018, a 3.6 percent increase over fourth quarter 2017 area shipments of 2,977 million square inches and a 7.9 percent rise over first quarter 2017 shipments, according to the SEMI Silicon Manufacturers Group (SMG) in its quarterly analysis of the silicon wafer industry.

"Global silicon wafer shipment volumes started the year at historic levels,” said Neil Weaver, chairman SEMI SMG and Director, Product Development and Applications Engineering of Shin-Etsu Handotai America. “As a result, silicon shipments, like device shipments, are positioned to be strong this year.”

Silicon wafers are the fundamental building material for semiconductors, which, in turn, are vital components of virtually all electronics goods, including computers, telecommunications products, and consumer electronics. The highly engineered thin round disks are produced in various diameters (from one inch to 12 inches) and serve as the substrate material on which most semiconductor devices or "chips" are fabricated.

All data cited in this release includes polished silicon wafers, including virgin test wafers and epitaxial silicon wafers, as well as non-polished silicon wafers shipped by the wafer manufacturers to end users.

The Silicon Manufacturers Group acts as an independent special interest group within the SEMI structure and is open to SEMI members involved in manufacturing polycrystalline silicon, monocrystalline silicon or silicon wafers (e.g., as cut, polished, epi, etc.). The purpose of the group is to facilitate collective efforts on issues related to the silicon industry including the development of market information and statistics about the silicon industry and the semiconductor market.
http://www.semi.org/en/first-quarter-2018-silicon-wafer-shipments-increase-quarter-over-quarter-record-level
15/05/2018 10:14 PM
tecpower Would Warren Buffett Be Interested in Sunright Limited, One of the 30 Best Stocks in Singapore for 2018?
https://www.fool.sg/2018/04/17/would-warren-buffett-be-interested-in-sunright-limited-one-of-the-30-best-stocks-in-singapore-for-2018/
25/08/2018 10:30 AM
tecpower Electric Vehicles’ Day Will Come, and It Might Come Suddenly
https://www.bloomberg.com/view/articles/2018-08-31/electric-vehicles-in-california-their-day-will-come-suddenly
02/09/2018 12:19 AM
tecpower https://www.forbes.com/sites/mikescott/2018/05/28/electric-car-sales-set-to-accelerate-as-costs-fall-and-production-scales-up/#2b10bde14049
02/09/2018 12:53 AM
tecpower https://www.forbes.com/sites/mikescott/2018/05/28/electric-car-sales-set-to-accelerate-as-costs-fall-and-production-scales-up/#2b10bde14049
Electric Car Sales Set To AcceleElectric Car Sales Set To Accelerate As Costs Fall And Production Scales Uprate As Costs Fall And Production Scales Up
02/09/2018 12:55 AM
hstha Three years of record wafer shipments expected, says SEMI
https://www.electronicsweekly.com/news/business/three-years-record-wafer-shipments-expected-says-semi-2018-10/
17/10/2018 11:12 PM
hstha https://sg.finance.yahoo.com/news/look-cheapest-stocks-singapore-stock-034238466.html
18/10/2018 11:04 PM
hstha https://sg.finance.yahoo.com/news/cheapest-stocks-singapore-stock-market-044014000.html

Sunright
17/11/2018 12:43 PM
gooman Toyota logs record 1st-half net profit, sales on robust demand
https://mainichi.jp/english/articles/20191107/p2g/00m/0bu/057000c
08/11/2019 9:13 AM
gooman Electric vehicle sales surge in Europe by 50 per cent
https://thedriven.io/2019/11/08/electric-vehicle-sales-surge-in-europe-by-50-per-cent/
08/11/2019 9:45 AM
gooman Semiconductor stocks surge on hopes for sales rebound
http://www.koreatimes.co.kr/www/biz/2019/11/175_278983.html
20/11/2019 9:49 AM
gooman http://www.koreatimes.co.kr/www/biz/2019/11/175_278983.html
Semiconductor stocks surge on hopes for sales rebound
20/11/2019 9:50 AM
gooman Sunright
Price to Book Ratio 0.5802
https://www.bloomberg.com/quote/SUNR:SP
20/11/2019 10:49 AM
gooman Global Semiconductor Sales Increase 2.9 Percent Month-to-Month in October
06/12/2019 5:16 PM
gooman https://windsorstar.com/news/local-news/future-auto-1-cars-will-soon-change-daily-life-as-much-as-smart-phones-did/wcm/ea409d84-def7-40ad-affa-ff96d1357f7a/
12/12/2019 10:36 PM
gooman Trump approves US-China trade deal to halt December 15 tariffs
13/12/2019 11:03 AM
gooman BEIJING (Reuters) - China will offer extra financial support to manufacturers next year, the banking and insurance regulator said on Friday, after a run of bond defaults by private firms in the sector.
https://uk.reuters.com/article/us-china-economy-banks/china-to-boost-loan-support-to-manufacturers-small-bank-reforms-regulator-idUKKBN1YO0WL
21/12/2019 11:40 AM
gooman Cheap loans underpin China’s semiconductor sector: OECD
https://technode.com/2019/12/19/cheap-loans-underpin-chinas-semiconductor-sector-oecd/
21/12/2019 11:41 AM
gooman Dec. 23, 2019, 2:33 a.m. ET
BEIJING — China said on Monday that it would lower tariffs on a range of goods imported from around the world starting on Jan. 1, moving to support domestic consumers even as a trade truce with the United States has relieved some of the pressure on the Chinese economy.
23/12/2019 4:04 PM
gooman Why bigger electric car discounts are likely in 2020
https://www.whatcar.com/news/why-bigger-electric-car-discounts-are-likely-in-2020/n20699
04/01/2020 6:08 PM
gooman The next wave of electric vehicles will appear in 2020
https://www.engadget.com/2019/12/29/ev-roundup-2019/
04/01/2020 6:11 PM
gooman Tesla's car shipments grew by 50 percent last year
That’s more cars than it delivered in the past two years combined.
https://www.engadget.com/2020/01/03/tesla-2019-delivered-model-3/
04/01/2020 7:49 PM
gooman China draft raising 2025 electrified-car sales target to about 25%, Fiat Chrysler-Peugeot $50 billion merger, and Tesla beginning Model 3 deliveries in Shanghai. The other major theme was automakers getting ready for the new lower emissions targets in Europe that begin on January 1, 2020.
05/01/2020 7:03 AM
gooman China to raise U.S. car, aircraft, energy purchases in trade deal--source
http://www.asahi.com/sp/ajw/articles/AJ202001140050.html
14/01/2020 11:16 PM
gooman Economist: Electric vehicles likely to be as cheap as conventional cars by 2025

https://www.yaleclimateconnections.org/2020/01/economist-electric-vehicles-likely-to-be-as-cheap-as-conventional-cars-by-2025/
18/01/2020 8:10 AM

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hellotar Understand the business of Mapletree North Asia Commercial Trust (SGX:RW0U)
https://theasiareport.com/mapletree-north-asia-commercial-trust/
15/01/2020 1:43 PM

  9 people like this.
 
moven00 Haiyah, mana Eh Kee Siao....open fire burn the house nia la.
Tomolo got some people's wealth going to burn up in ashes.
Let's sit and watch the drama....

Genting SP almost broke Liao, no fun already. Now we must burn a new house called Wilmar....
14/08/2012 11:40 PM
benson911 Lousy stock, sell sellllll
11/09/2012 5:26 PM
scimitar Hi benson911, Wilmar will take long time to come back up...Don't see any recovery plan in the near term. But it still have potential,,,,
12/09/2012 4:32 AM
benson911 Hi Scimitar, wat price u think can enter, 2.5? Thx a lot.
12/09/2012 1:48 PM
Y2016 do not think Wilmar will drop below its book value, so $2.5 seems not possible
12/09/2012 2:43 PM
moven00 yehhhhhh.....drop somemore. Now seat tight, get our money ready. slowly buy in.....
No rush, its time we slowly follow wilmar movement.
*Remember Good stock will one day recover. If we are long term investor, emmmm....why not buy and keep Wilmar?
*Try not to lose your money in investment. That is important.
13/09/2012 10:43 PM
manman waht happened to this shares? up so much today...
14/09/2012 4:38 PM
mujihero share buy back!!! It is deep in value now!!!
17/09/2012 12:15 AM
sh2383jbt Agreed with moven00, slowly accumulate Wilmar at this time, it is long term counter, one day sure recover back. But dividend a bit stingy...haha...cheers
24/10/2012 11:15 PM
moven00 Now this round must wait further for second round collection. I have sold half. Waiting for it tocome down further...looking at 2++ this round. Then slowly start to move in...
15/11/2012 12:17 AM
Stephen Lee Results not so good as extra ordinary loss on FX siphoned off a big junk of profits. If buy.....buy for long term as it is bottoming out....not so soon (probably within 3 to 8 months time)

Happy investing
23/11/2012 2:32 AM
moven00 Ole Ole Ole...... Sold all my Wilmar 3.48 today. Yeahhhhh!!!
02/01/2013 4:02 PM
DaveSingh too bad Moven00 you sold wilmar.. its up again so much today.. and its going up much much more.. you remember you call me bodoh singh.. who is bodoh now @moven00.. i am laughing at you!!!!
03/01/2013 9:15 AM
passerby davesingh is at SGX also :)
03/01/2013 3:45 PM
Edward Lee I think Wilmar will be profitable if keep for 3 to 5 years. Anticipate double fold gain from Wilmar.
03/01/2013 4:31 PM
passerby double fold within the duration of 3-5years ?
03/01/2013 4:41 PM
Edward Lee Just my anticipation, palm oil sector has been in harsh time for some time, it's good to hold it now and wait for range bound for palm oil price. But only patience will pay.
03/01/2013 5:05 PM
passerby edward lee: are you a malaysian or singaporean ? :)
03/01/2013 5:34 PM
Edward Lee Msian, anything?
03/01/2013 7:57 PM
passerby no la, just asking only coz this is STI version, thought will find some Singaporean around this forum :)

didn't see you do any posting on KLSE forum ? nice to meet you anyway. i'm a M'sian also

looks like this i3 site got a lot active malaysian members
03/01/2013 10:02 PM
Edward Lee Nice to meet you too. No, I never post anything, just give some comments and opinions here. Ya quite a lot Msians using i3 for discussion, but I think most of them are short term trader rather than value investor.
03/01/2013 10:23 PM
Alex Gray Hello to all!!! Get intra-day and positional stock tips as well as forex and commodity tips at http://goo.gl/GCG76y.. Take a 7 days free trial and watch the result of our recommendation.
26/08/2013 3:59 PM
Peter Chen Corporate Princess 5 : Kuok Hui Kwong & Robert Kuok succession planning
企业公主系列5 : 郭鹤年女儿郭惠光及新人事部署

http://aseantradinglink.blogspot.com/2013/08/corporate-princess-5-kuok-hui-kwong.html
30/08/2013 2:22 PM
Peter Chen Robert Kuok succession planning crisis 2
传郭家三房争产1220亿
http://aseantradinglink.blogspot.com/2013/09/robert-kuok-succussion-planning-crisis-2.html
23/09/2013 10:46 AM
Peter Chen What happen in 2013
2013年最资深有经验美丽的企业公主
http://aseantradinglink.blogspot.com/2014/01/what-happen-in-2013.html
06/01/2014 12:50 PM
Alex2012 Wilmar go...go...go...
19/02/2014 9:20 AM
michelle zheng Singapore's Wilmar Intl. Gains On Shree Renuka Offer
21/02/2014 5:18 PM
Alex2012 If El Nino strike, Wilmar share price will be double...
22/02/2014 9:15 AM
KiasiPu 3.07, should buy or run??
30/09/2014 10:19 AM
Alex2012 anytime can buy...
16/12/2014 1:02 PM
Diamond7 Quarterly report....profit up 49% !!!
Hoping for cooporate exercise! Bonus ? Share split? Warrants? Special dividend?..........
08/05/2015 11:36 AM
Diamond7 2015....why no dividend yet?
08/05/2015 1:24 PM
Diamond7 wilmar....good news!!!up...up...up....
18/03/2016 9:59 PM
mujihero target 4 soon
30/03/2016 10:40 PM
Diamond7 Dividend 0.055 on 18 th May 2016!!!
11/04/2016 4:25 PM
chiongster1234 wau 2.70 to 3.40
12/04/2016 10:31 PM
mujihero What is the dividend yield
26/04/2016 10:27 PM
Diamond7 Wa!!!
Undervalue counters are good!
27/04/2016 11:41 AM
Diamond7 Down....down.....down....Why???
23/12/2016 4:54 PM
LeeJacky Wilmar still strong...on boat.
09/01/2017 2:55 PM
Diamond7 Damn strong! steady upward momentum
10/01/2017 3:43 PM
LeeJacky hurray^^
10/01/2017 4:10 PM
Diamond7 wa! S3.80....still very strong! Any bonus?
13/01/2017 2:31 PM
Diamond7 wa....and wah...hhh. Touch S4.00 already!!
26/01/2017 2:42 PM
Diamond7 Today...3.02
Better soon art accumulating!
03/07/2018 12:09 PM
Diamond7 Wa! 3.64 Liao
If Wilmar list in China, the price would be wonderfully good
18/04/2019 5:54 PM
Diamond7 Wa! Wilmar moving up slowly. Now 3 83!!!
Gonna list in Shenzhen stock exchange in the 4th quarter!
16/07/2019 10:18 PM
Diamond7 Now 4.08! Wonderful!
17/11/2019 7:03 AM
Diamond7 Wa! 4.14...
Moving up steadily!!!
18/11/2019 10:52 AM
Diamond7 Zoom....Gro...oom!
Now 4.34! Lovely!
10/01/2020 4:47 PM

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Pang Sing Tan For sustainable income play in the medium term, this stock should feature highly in your portfolio.
28/08/2013 7:19 AM
Pang Sing Tan UMS shot up to 57 cent on strong volume.
03/10/2013 7:17 PM
Pang Sing Tan Good visibility for revenue growth for next 2 quarters..
14/11/2013 5:36 PM
passerby wow...you are the one to be followed at SGX i3investor....
10/08/2014 11:52 AM
davidsmith UMS HOLDINGS LIMITED:
As per the technical analysis of UMS Holding Limited may take a deep up to 1.2447 by tomorrow 21-03-2018
20/03/2018 6:44 PM
03/01/2020 8:36 AM
joey support at 1.00

after will move up
10/01/2020 3:45 PM

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Value Investor Coo1eo legal loan shark that pays dividends :)
03/01/2020 8:37 AM

  3 people like this.
 
Siew Jian Bin I also kept this share, but the rupee is down VS SGD, haiz... Anyway, the gearing is less than 10%, shd have room to grow!
24/07/2012 10:21 PM
wangzhongpeng I also keep this share and waiting the price go down , want to buy some more shares.
26/07/2012 8:28 AM
Jian Bin Siew Tomorrow the result will out, hope that the earning can increase to SGD0.008.
01/08/2012 9:42 PM
Jian Bin Siew I think now is the good time to collect Lippomall at Sgd0.465.
13/06/2013 11:47 PM
sengchai Does anyone see the short sell movement in INNOPAC. N CNA
10/07/2013 10:13 AM
Fong Kh http://www.reitsweek.com/2013/12/china-tycoon-purchases-193-million.html
03/12/2013 10:15 AM
epicresearchSg Facebook Inc. and Apple Inc. Microsoft MSFT -0.13% rallied 1.3%, the best performer on the Dow Jones Industrial Average DJIA -0.48% , which was up 47 points.
03/12/2013 8:28 PM
Fong Kh http://infopub.sgx.com/FileOpen/Press_Release_revised_613pm.ashx?App=Announcement&FileID=295464
27/06/2014 12:58 PM
Fong Kh "Lippo Malls Indonesia Retail Trust (SGX: D5IU), a real estate investment trust focused on Indonesia-based retail properties, proposed a new acquisition.
In the announcement, the trust also recommended that the purchase be partially funded by an equity fund raising exercise which might potentially dilute existing unit-holders’ stake in the trust by up to 12%. Given the extent of dilution, does this acquisition make sense for unit-holders?"
read more at
http://www.fool.sg/2014/09/16/is-lippo-malls-indonesia-retail-trusts-latest-property-purchase-a-winner/
17/09/2014 10:03 AM
superman11 Hey guys, any comment for this counter? Keep or let it go?
08/12/2014 9:52 AM
Jian Bin Siew Why sgd vs idr keep.increasing? Else, i will make profit through this counter. Now the price is so low, nothing to lose.
08/12/2014 2:44 PM
queenfit why trading halt ?
08/12/2014 3:09 PM
Fong Kh hold
09/12/2014 10:02 AM
Fong Kh http://sdb.theedgemarkets.com/2014/SDBsetia/SDBsetia_20141209_98hnig.pdf
page 2
09/12/2014 12:54 PM
Kay Any thoughts on this counter??
08/05/2017 3:37 PM
DenisYeo going on
10/05/2017 12:34 PM
punklitez https://heartlandboy.com/lippo-mall-indonesia-retail-trust-initiation-report/
20/05/2017 11:53 AM
Kay How does the Proposed Issuance of S$120m Perpetual Securities affects the future of Lippo? More cash?
16/06/2017 9:48 AM
punklitez gearing will come down since it is "classified" as equity in the balance sheet. It will definitely be used to finance the kendari acquisition. Excess cash will be used to refinance 2 bonds expiring in July (5.875%) and Nov (4.48%) 2017. Therefore, gearing ratio will come down but all in cost of debt may increase.
17/06/2017 10:09 AM
Kay Got my lippo dividends. Love the consistent payouts :)
27/09/2017 10:13 AM
Kay Lippo is on the list too.
http://fifthperson.com/lion-phillip-s-reit-etf/
17/10/2017 12:06 PM
Kay https://sg.finance.yahoo.com/news/lippo-malls-indonesia-retail-trust-020902683.html

Lippo Malls Indonesia Retail Trust (SGX: D5IU), or LMIRT for short, is an Indonesian retail REIT listed in Singapore. It owns a portfolio of 23 retail malls and seven retail spaces located across four cities in Indonesia.

Last year, LMIRT increased its debt load to acquire two new properties, which prompted Moody’s to review the trust’s credit rating. If its credit rating is downgraded, LMIRT’s ability to secure additional loans or refinancing might be compromised. It might consequently have to obtain loans at a higher interest rate. A higher cost of debt, will, in turn, affect earnings and distributions.

I have done some research on the REIT and have concluded that despite Moody’s review on the REIT’s credit rating, LMIRT has been able to manage its debt strategically over the years and going forward, it is more than likely to be able to repay any debt obligations it currently owes.

Gearing ratio

The first reason I believe this is the case is that LMIRT has a gearing ratio that seems very manageable. The gearing ratio is the total debt compared to the total assets of the trust. As of 31 December 2017, LMIT had a gearing ratio of 33.7% (including perpetuities).

This is well within the Monetary Authority of Singapore regulatory cap for REITs of 45%. The relatively low gearing means that the REIT still has debt headroom to increase its debt load even further.

Interest coverage

The interest coverage ratio measures the REIT’s ability to pay its interest expenses each year. Mathematically, it is calculated by dividing financial expense by net property income.

For the year 2017, LMIRT had a net property income of S$184.2 million and financial expense of S$31.5 million. This translates to an interest coverage ratio of roughly six times.

An interest coverage ratio of above five is considered very safe. By that mark, LMIRT falls well within the safe zone.

Cost of borrowing

Finally, LMIRT has an average cost of debt at 4.7%. Yes, this may be relatively high compared to other retail REITs in Singapore. Similar retail REITs such as CapitaLand Mall Trust (SGX:C38U), CapitaLand Retail China Trust (SGX:AU8U), and Fortune REIT (SGX:F25U) have an average cost of debt at 3.2%, 2.81% and 2.41% respectively.

However, LMIRT has one of the highest property yields at 9.65%. This more than makes up for its high cost of debt such that the trust can easily pay off its finance costs. To put this in perspective CapitaLand mall Trust, CapitaLand Retail China Trust and Fortune REIT have property yields of 5.3%, 5.8% and 3.6% respectively.

The Foolish bottom line

LMIRT has previously had an aggressive expansion strategy that relied mostly on borrowing for further acquisitions. Despite this, their overall capital management looks prudently managed. It has a relatively low gearing ratio, a high interest coverage ratio and an asset yield that more than makes up for its borrowing cost.

All things considered, I believe that the REIT has put in place prudent debt management strategy and has the means to see through all of its current financial obligations.
16/04/2018 5:05 PM
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Jian Bin Siew My favourite reit at discounted price of SGD0.65.
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Value Investor Coo1eo going to SGD0.9 - excellent DY
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wenghwa Why did the dividend listing stop in November 2019?
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Billionee What happen to Dynamac ? Now the top volume stocks are occupied by Oil related counter.
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ronald118 dump novotel, grab W..
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