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.

Tuesday, November 9, 2010


Based on the minimum price of $1.00, here are the statistics.
  • Current Yield = 8.45%
  • Price-to-book Ratio = 1.059
  • Assets per unit = $1.398  
  • Debt per unit = $0.454
  • Gearing = 32.4%
Sabana has lodge its prospectus with a price between $1.00 to $1.10... The yield is quite high at 8.45% which is quite attractive. The only drawback is that its NAV is $0.94 which is lower than its offer price. I am having a sense that at current situation, the property yield is quite high which result in high net yield for Mapletree Industrial Trust and Sabana despite it being expensive.

I will apply for this REIT but I will likely sell it if I manage to get some.


  1. no IPO will price its share price lower than its NAV. At best, it is equivalent to NAV. you can only get it below NAV during the crisis when it drops below its NAV. I believe the prospectus says its NAV is 0.99, not 0.94

  2. This is the analysis before they announce the IPO price... Haven't got the time to update it yet...