Welcome to my investment blog where I share with you my analysis of REITs in Singapore.

I hope that my investment philosophy will bring me a steady stream of income apart from my job. I am aiming for at least $3,000 per month which can sustain the current expenses of myself and my family.

Do enjoy reading my blog and post any comments that you have. I welcome them because it is a time to learn from each other.

When I am looking at investing in REIT, here are some of the guidelines that I am looking at. Feel free to comment on it. I am willing to listen to ideas.

-> at least 8% yield.
-> Price that is lower than its NAV.
-> Low gearing (if possible)
-> High secured NAV.

Current Dividend income is $3,800/month.

Friday, August 13, 2010

Statistics on Indiabulls Properties Investment Trust

New data on Indiabulls (IPIT, $0.23)
  • Current Yield = No yield
  • Price-to-book Ratio = 0.436
  • Assets per unit = $0.763
  • Debt per unit = $0.235 (Interest Rate at 13%)
  • Gearing = 12%
  • Secured NAV = $0.527

New data was presented yesterday (1st Quarter Results)... What was surprising (and probably error on my part) is the increase in gearing which also result in increase in debt. Secured NAV has dropped (according to my estimation)... So this might not be good news for me...
I am waiting for them to start selling their residential assets so that it can generate cash to repay these high interest debts (and to crystallize NAV). If they are able to do that at their valuation price, we will be getting back about $0.25 (A quick estimation again here) per share...
So again, waiting for more positive news... hopefully 

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