Posted by lkw8361 > Apr 24, 2015 8:13 PM | Report Abuse

9.6% dividend yield, given current JPY level is already very weak, the downside is limited.

Posted by queenfit > Jun 2, 2015 10:35 AM | Report Abuse

why today dipped so much?

Posted by Siew Jian Bin > Jun 4, 2015 9:35 AM | Report Abuse

Is singapore share price considered dropping after Ex-date of dividend?

Posted by Jian Bin Siew > Jul 16, 2015 10:09 AM | Report Abuse

Anyone has any idea why this stock drop so much?

Posted by tommy31 > Jul 24, 2015 8:13 PM | Report Abuse

I guess there are 2 reason
1) Potential Equity Fundig & dilution
Sponsoring comapny "Accordia Golf" is accerelating asset light strategy. Their major stakeholder give strong pressur for earlier implementation. Even though there are room for debt-fundig with Japanse ultra-low interest rate, leverage is limited. Current low valuation heighten the concern for potential dilution. Fund director's independence will be tested.

2) Japan's demography
In the mid-long term, Japanese golf population is expected to gradually decrease.
Even Daiwa's analyst evaluate the stock with negative growth rate in his report.

But I agree with you that this trust is under-valued, good buying opportunity assuming Mr.Machida(Trust CEO) act to protect stakeholder's interest, avoidng dilutive equity funding.

Posted by Jian Bin Siew > Jul 30, 2015 2:56 PM | Report Abuse

Finally I have heard some comment! Tq. Anyway, i am still buy and keep this stock.

Posted by tommy31 > Jul 31, 2015 4:39 AM | Report Abuse

Continuing downtrend make existing shareholde to worry, parly because of JPY currency depreciation. But it is said that fair value of Yen-USD rate based on PPP(Purchasing Power Parity) is the 105-110 Yen/Doller range. I guess in the mid-long term, currency will converge to fair valule.
慢慢了