First REIT

[helios]

>>> have u noticed that first-reits JKT hospital assets r well-positioned differently as healthcare providers? these guys know what they r doing in setting up hospitals, and complementing their services clusters well.. [think'g aloud]

siloam karawaci = top-tier/ top pyramid services and expert field, such as onco-cardio-neuro;
siloma west jkt = mid-tier, lifestyle related, such as uro-gynae-obstetrics; and
siloam surabaya = fertility.

World oncologists to share knowledge, skills
Matheos Viktor Messakh, The Jakarta Post Fri, 05/09/2008 9:38 AM

The Mochtar Riady Institute of Nanotechnology (MRIN) plans to hold an international symposium on cancer research in an attempt to share knowledge on the application of new technology with the country's medical practitioners.

The symposium titled "Frontier of Cancer Research" will be held on May 10 and 11 at Pelita Harapan University's campus in Lippo Karawaci and is set to feature 18 of the world's top oncologists, who would share their latest research with professionals, researchers and medical students.

The two-day symposium, held in a collaboration with Pelita Harapan University and Siloam Hospitals, is also a precursor event to the opening of the MRIN building on May 12.

"Out of 240 million people in Indonesia, we only have about 120 oncologists and about 100 neurologists. This portrays how limited specialists are in Indonesia," Lippo Group's chairman Mochtar Riady told reporters here on Thursday.

"We also only have one cancer hospital, the Dharmais Hospital. No wonder many rich people prefer to go abroad for treatment. But how about those who cannot afford to go abroad?"

He said in order to change this trend the country should have a good medical school, supported by good research and good specialist hospitals.

[helios]

>>> some past news, not sure, if any forumers have read this article b4? i've asked my friends in JKT on e new sites, he did mentioned on e construction works. NB: lippo has aggressive plans, ie. to do sports medicine which is lacking in singapore ...

Lippo Karawaci to build more hospitals
The Jakarta Post Thu, 05/10/2007

Publicly listed property company PT Lippo Karawaci Tbk will expand its healthcare business by renovating two of its international-standard Siloam Hospitals, and building five new ones at a total cost of US$500 million.

President director Viven G. Sitiabudi said Tuesday that the company would open four more hospitals in Jakarta and another one in Bandung over the next five to 10 years.

The four new hospitals in Jakarta will be built at Semanggi, Central Jakarta; Kemang, South Jakarta; Puri Indah, West Jakarta; and Pluit, North Jakarta, with each hospital having 250 beds.

Currently, the company operates hospitals in Jakarta at Lippo Karawaci, Tangerang at Lippo Cikarang, Bekasi and Surabaya, as well as a specialist clinic in Jakarta.

"This year, we will start our expansion program by building a Siloam Hospital in Semanggi and renovating hospitals in Kebon Jeruk, West Jakarta, and in Surabaya," Viven said, adding that the three projects would cost the company about $50 million.

The groundbreaking ceremony for the Siloam Hospital Semanggi, which will include a cancer center, will take place Saturday, with the hospital slated to open its doors in December 2008.

According to Viven, the cancer center, to be called the Mochtar Riyadi Comprehensive Cancer Center (MRCCC), would be the first privately owned and the most comprehensive oncology center in Indonesia. It would provide complete cancer diagnoses and treatments, including early detection of the disease, with state-of-the-art technologies, such as positron emission tomography scanning, high intensity focused ultrasound and radio immunotherapy.

She said that the company would invest $21 million on medical equipment for the new cancer center.

""By establishing new hospitals equipped with sophisticated equipment and staffed by medical professionals, we hope that those patients who would usually go to neighboring countries like Singapore for medical treatment will now seek it at our hospitals,"" she said.

She added that the new hospitals were expected to boost the annual number of patients served by the company to some two million over the next five to 10 years from about 600,000 at present, and to create about 4,000 new jobs.

Besides the cancer center at the Siloam Hospital Semanggi, the company will also establish a surgical center at the Siloam Hospital Puri Indah.

The two hospitals to be renovated -- the Siloam Hospital Kebon Jeruk and Siloam Hospital Surabaya -- will be equipped with trauma, gastroenterology, fertility, orthopedic and sports medicine centers.

The hospitals currently operated by the company already boast a number of specialist facilities. For example, the Siloam Hospital Lippo Karawaci has neuroscience and cardiac centers, while the Siloam Hospital Lippo Cikarang has urology and internal disease centers.

Viven said that in financing the expansion project, the company would use the $100 million in proceeds raised by real estate investment trusts (REITs) -- stock-market instruments associated with the property business -- that it issued last year in Singapore.

The healthcare business, Viven said, contributed 25 percent of the company's total revenue last year, which amounted to Rp 1.9 trillion (US$208.7 million).

Besides its healthcare business, Lippo Karawaci is also a major player in the property business, including like commercial, retail, residential and industrial property.

[millionairemind]

First REIT’s 2Q08 DPU Grows 15.8%
First REIT announced that its distributable amount for the 2Q08 ended June 30 rose 16.1% yoy to $5.2m. Translating into a distribution per unit (DPU) of 1.91 Singapore cents, up 15.8%. For the half year ended June 2008, First REIT’s distributable amount and DPU are $10.26m and 3.76 cents, respectively. Based on its annualised DPU of 7.62 cents and the closing price of 70.5 cents on July 18, First REIT’s distribution yield is 10.81%, one of the highest amongst Singapore REITs, Singapore stocks and government bonds. Driven by rental increases from its four Indonesian properties as well as the rental income generated from its four Singapore properties acquired in 2007, First REIT’s gross revenue in the second quarter rose 15% to $7.5m, lifting its half-year gross revenue by 19.3% to $15m.

[Blackjack]

Sit here and quietly collect dividend only. Would gladly collect more if the price drops.

[helios]

wah, congrats!

i can imagine u picked it up @ 0.69.

blackJ: your vested interest is based on dividend play only?

i'm sure there's more innate feel to this counter ...

still awaiting for their news in china.

[millionairemind]

September 8, 2008, 7.59 pm (Singapore time)

First Reit to buy logistics centre for $42m
By LYNETTE KHOO

First REIT said on Monday it has signed an agreement to buy a healthcare logistics and distribution centre in Singapore for S$42 million.

This marks its first acquisition of a healthcare logistics and distribution centre and its fifth asset in Singapore, lifting its assets under management by 13 per cent to S$368 million.

The acquisition is expected to be completed three months after the temporary occupation permit (TOP) date, slated to be in July 2009.

Upon completion, First REIT will lease the centre back to the vendor Tech-Link Storage Engineering for six years at a commencement rental income of $3.23 million per annum with a built-in annual rental escalation and an option for Tech-Link to renew the lease for another seven years.

This is expected to provide an incremental annualised distribution per unit of S$0.33.

[helios]

This marks its first acquisition of a healthcare logistics and distribution centre and its fifth asset in Singapore, lifting its assets under management by 13 per cent to S$368 million.

The acquisition is expected to be completed three months after the temporary occupation permit (TOP) date, slated to be in July 2009.

Upon completion, First REIT will lease the centre back to the vendor Tech-Link Storage Engineering for six years at a commencement rental income of $3.23 million per annum with a built-in annual rental escalation and an option for Tech-Link to renew the lease for another seven years.

Just saw this news today, it is a purpose-built 2-storey warehousing and distribution centre for
pharmaceutical and nutritional products ... are they launching a scalable supply chain management [business model] to be a bio-logistics player as well?

Source: http://info.sgx.com/webcoranncatth.nsf/ ... penelement

[helios]

watch this, black marabozu today @ 0.4; bearish continuation at least for now ...



- Weekly Chart reviewed 14-Oct'08.

[Blackjack]

Tan Kay Poo continuing his support still.. now he is persuading his wife to buy more again? Haha... never easy to persuade one's spouse to invest if they are not the investing sort. I wonder which type his wife is. If he's asking, he must be darn pretty sure I guess.
Anyway, can't help but average down on my holdings lately.

[helios]

yo blackjackie,

you are back in action ... !! where have you gone fishing?

yes, somewhere this anchored @ 0.4.