- Yield = 10.18%
- Price-to-book Ratio = 0.408
- Assets per unit = $1.403
- Debt per unit = $0.692 (including current liabilities)
- Gearing = 49.4%
They have registered a impairment charges of about $60 million which causes their NAV to drop by $0.04. This is about 7% of their NAV. With the expiry of their current high charter rates and there is no sign that it will recover to that rate, I think the valuation will continue to drop. This is a danger of this trust because we are not really sure how they get their NAV. (Unlike properties where it can be evaluated easily)
I am expecting more of this to happen which will cause pressure on its share price. Until they repay all their debts, I don't see why I should enter this counter again (after exiting earlier.)
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