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, November 3, 2017


IPO Price = US$ 0.88
  • Yield = 6.80%  
  • Price-to-book Ratio = 1.052
  • Assets per unit = US$ 1.326
  • Debt per unit = US$0.489 (including current liabilities)
  • Gearing = 36.9%
With the withdrawal of one of the IPOs earlier, this is one which I hope will pull through. Let's take a look at the statistics.

With a yield of 6.8%, it doesn't look exciting. Manulife US REIT is yielding higher at 7.05% which is probably better. Moreover, its price-to-book ratio is at 1.052 which is almost the same as Manulife US REIT. Gearing is at 36.9% which is quite safe.

US REITs listed in SGX is not common and this is the second one. Thus, we have to compare it to see how they are valued. From the looks of it, it does look the same so I am assuming that it is fairly valued. Thus, this looks more like a growth story since they are adopting an aggressive acquisition stand.

I would love to apply for its IPO if I have some cash but I may not be able to do it. Just that we should not assume that we can earn something from day one of its listing.

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