- Current Yield = 8.68%
- Price-to-book Ratio = 0.837
- Assets per unit = $1.242
- Debt per unit = $0.185 (Interest Rate at 4.2%)
- Gearing = 14.9%
According to my criteria, First REIT stills fit in perfectly. Moreover, CIMB and SIAS has reported that investors have placed a premium risk on Indonsian assets which I still feel is legitimate. Although the economy of Indonesia has been improving in the recent years, it is still not as safe as REITs with Singapore assets. But First REIT (along with LMIR) has kept its debt level to below 15% to boast investors' confidence.
I am attracted by the high yield, low debt level, and the fact that it is trading below NAV. With an impending rights issue coming up, I am thinking of increasing my holdings on First REIT.
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