Saizen REIT

[peter]

This latest property sale is S$105k average for each apartment.
The earlier sale in Hiroshima is S$43k each apartment, if I am not wrong freehold as well.

I do not know how big are these apartments. If I assume them even with mickey mouse sizes of say 400sq ft each, they are still very cheap compared to Spore prices. I thought Japan has the highest property prices. Did I missed out something here?

[winston]

Vested

Investing in a better tomorrow.

More importantly, the outlook for Saizen’s property operations remains stable with portfolio occupancy rate still strong at 91%.

Based on the maximum enlarged capital of 1.4b units in issue, we estimate DPU of 0.9 cts p.a., which translates to a DPU yield of 5%.

Saizen pays semi‐annual distributions, with the next payment expected in March 2010. With a strengthening financial position and a stable distribution yield, the stock
is worth a closer look.

http://www.kimengresearch.com/KimEng/se ... yqVQTZ10M=

[winston]

vested

DATE OF RELEASE OF THE QUARTERLY FINANCIAL RESULTS FOR THE PERIOD ENDED 31 DECEMBER 2010

The Board of Directors of Japan Residential Assets Manager Limited, the Manager of Saizen Real Estate Investment Trust (“Saizen REIT”), is pleased to announce that Saizen REIT’s quarterly financial results for the period ended 31 December 2010 will be released before market opens on Friday, 11 February 2011.

The results will be available on Saizen REIT’s website at www.saizenreit.com.sg and on the website of the Singapore Exchange www.sgx.com.

By Order of the Board
Linus Koh (Mr.)
Co-Chief Executive Officer

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

[winston]

NOTICE OF BOOKS CLOSURE AND DISTRIBUTION PAYMENT DATE

NOTICE IS HEREBY GIVEN THAT the Transfer Books and Register of Unitholders of Saizen Real Estate Investment Trust (“Saizen REIT”) will be closed on 21 February 2011 at 5.00 p.m. (the “Books Closure Date”) for the purpose of determining Saizen REIT unitholders’ (“Unitholders”) entitlements to Saizen REIT’s distribution of 0.52 Singapore cents per unit for the six-month financial period ended 31 December 2010 (the “Distribution”).

Unitholders whose securities accounts with The Central Depository (Pte) Limited are
credited with units of Saizen REIT (“Units”) as at the Books Closure Date will be entitled to the Distribution, which will be paid on 8 March 2011.

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

[winston]

Vested

Saizen's exposure to the earthquake

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

[winston]

Vested

UPDATE ON IMPACT OF EARTHQUAKE IN JAPAN

To-date, 142 out of Saizen REIT’s 146 properties, representing 98.4% of Saizen REIT’s total investment property value1, have been reported by the property managers to be intact.

Update on properties in Sendai

The property managers have managed to view 1 more property in Sendai.

In the areas affected by the earthquake and tsunami, all 6 properties in Morioka and
Koriyama, and 18 out of 22 properties in Sendai have been viewed by the property
managers thus far, and preliminary reports have confirmed that these properties appear to have sustained only minor damage and to have remained intact.

However, the full extent of damage can only be ascertained after more detailed assessments.

The value of the 4 properties yet to be viewed represents 1.6%, and 2.4% of Saizen REIT’s total investment property value and net asset value 2 respectively. These properties contribute 1.8% of Saizen REIT’s annual rental income3.

These properties belong to 2 out of 9 TK operators of Saizen REIT, viz. GK Choan (1
property) and YK Shingen (3). They represent 0.2% and 1.4% respectively of Saizen REIT’s investment property value and 0.3% and 2.1% respectively of Saizen REIT’s net asset value.

These properties contribute 0.3% and 1.5% respectively of Saizen REIT’s annual rental
income.

To-date, we have not received any reports of tenant casualties, and none of the properties viewed appear to have been vacated.

Risk relating to nuclear power plant
None of Saizen REIT’s properties are within the current evacuation zone surrounding the
nuclear power plant at risk in Fukushima.

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

[peter]

none of the properties viewed appear to have been vacated

If you are a tenant of the apartment, knowing that if you vacate the apartment before the expiry of the lease, your security deposit will be forfeited, would you vacate?

However when the lease expires, would the tenant stays? This to me is more important.

[winston]

However when the lease expires, would the tenant stays? This to me is more important.

Vested

My question would be:-
"Why's the tenant vacating the property especially when there's no threat of radiation and there's no damage to the building ?"

[Touzi]

However when the lease expires, would the tenant stays? This to me is more important.

Vested

My question would be:-
"Why's the tenant vacating the property especially when there's no threat of radiation and there's no damage to the building ?"

Moreover, there will probably be a lack of choices if the lease expire soon. For the lease that expires much later, things will have returned to normal. It is very difficult to judge the situation from here, but from newspaper pictures of people queueing to buy food in Sendai and the fact that buildings are still standing, my guess is that the situation in the city is not as catastrophic as many of us imagined. As for the radiation leak, Sendai is 90km from the Fukushima reactor ( which is not in Fukushima City ).

vested.

[winston]

UPDATE ON IMPACT OF EARTHQUAKE IN JAPAN

Royal Hills Katagiri, which is located in Sendai, was viewed by the property manager today
and was reported to be intact.

Following the above, all of Saizen REIT’s 146 properties have been reported by the property managers to be intact.

In the areas affected by the earthquake and tsunami, all 28 properties in Sendai, Morioka and Koriyama appear to have sustained only minor damage.

However, the full extent of damage can only be ascertained after more detailed assessments.

To-date, we have not received any reports of tenant casualties, and none of the properties viewed appear to have been vacated.

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