CapitaLand Integrated Commercial Trust (Merger CMT & CCT)

Re: CapitalMall Trust

Postby iam802 » Mon Feb 09, 2009 2:48 pm

can jump off the cliff already.

Friday...already heavy selling
1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

TA and Options stuffs on InvestIdeas:
The Ichimoku Thread | Option Strategies Thread | Japanese Candlesticks Thread
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Re: CapitalMall Trust

Postby winston » Thu Mar 12, 2009 4:52 pm

0820 GMT **CAPITAMALL TRUST FALLS ON SHARE DILUTION**

Shares of CapitaMall Trust tumbled as much as 10 percent on investor concerns about dilution of the stock after the company announced a rights issue last month and on a weakening property rental market.

"Investors are selling because they are not prepared to invest more money on CapitaMall Trust after its rights issue," said a local dealer.

CapitMall Trust, a shopping mall real estate investment trust (REIT) managed by CapitaLand, said last month it would raise S$1.23 billion via a 9-for-10 rights issue at S$0.82 a unit.

Another dealer said sentiment for CapitaMall was dampened by newspaper the Straits Times saying on Thursday that new shopping malls on the main Orchard Road boulevard were short of tenants.

Source: Reuters
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Re: CapitalMall Trust

Postby millionairemind » Thu Mar 12, 2009 5:10 pm

Just TOL... Since mkt turnover is so low, if a few of the hedge funds gang up together to to an intraday SHORT on CAPMALL and CAPMALL R.. there by affecting sentiments and then covering out.. alot of money to be made...

The low on CAPMALL R was around 10cts.. high 19.5cts.. that is almost 100% gain intraday....
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Disclaimer - The author may at times own some of the stocks mentioned in this forum. All discussions are NOT to be construed as buy/sell recommendations. Readers are advised to do their own research and analysis.
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Re: CapitalMall Trust

Postby winston » Wed Apr 08, 2009 11:26 am

Not vested. From Kim Eng:-

1) CapitaMall Trust – Initiating Coverage (Wilson, DID: 64321454)
Previous Day Closing price: $1.28
Recommendation: BUY
Target price: $1.53

A shopper’s best friend
The largest landlord of retail malls in Singapore, CapitaMall Trust (CMT) offers exposure to many well-frequented malls across the four corners of Singapore. Its properties are well-located in the suburbs and even downtown, each catering to a sizeable catchment area of shoppers. CMT was the first-ever REIT to be listed in Singapore in 2002.

Ahead of its peers

Since then, CMT has proven to be an innovative landlord, pioneering the art of asset enhancement initiatives (AEIs) to optimise space and rentals. AEIs will underpin CMT’s organic growth for the next three years at least. CMT historically trades at an average yield spread of 2.9% over the 10-year bond yield. Its current yield spread of 4.8% still makes it relatively attractive at this price level, relative to its own yield band of between 3.6-11.5%.

Shopping is a way of life here!
Other than Raffles City, CMT’s malls are largely located in the suburbs, catering to necessity shopping. Even Plaza Singapura that is located at the end of Orchard Road is positioned more as a neighbourhood mall, with hypermart Carrefour as the anchor, than high-end malls. CMT’s portfolio of malls has consistently achieved high occupancy rates of over 99% since 2001, with an estimated average retail passing rent of $11.80 psf per month.

Plenty of room to grow
Following the 9-for-10 rights issue to raise $1.2bn, CMT will be using part of the proceeds to repay $956m of debt due in 2009, thus bringing down its gearing from 43% to 29%. Most of the balance of the proceeds will be used for the AEIs at Jurong Entertainment Centre and the Atrium @Orchard. CMT is also exploring opportunities to increase the retail GFA of Funan DigitalLife Mall and Tampines Mall.

A true industry leader
We like CMT for its market leader position, strong quality of assets, healthy balance sheet and its strong management backed by a reputable sponsor in CapitaLand. In difficult times like these, CMT’s vast potential for organic growth and earnings resilience deserve a premium. We are initiating coverage with a BUY recommendation at the target price of $1.53, based on our DDM valuation.
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Re: Capital Commercial Trust

Postby millionairemind » Fri May 22, 2009 1:44 pm

Another Rights issue under the Capital Group.

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

Good times expand like crazy, take 20MM bonus, bad times, just call the market to cough up more money... what kind of risk management is there??
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Re: Capital Commercial Trust

Postby ichew » Fri May 22, 2009 2:25 pm

and the same million-dollar question i am asking myself now is "will it do a kep-land" ?
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Re: Capital Commercial Trust

Postby ucypmas » Fri May 22, 2009 9:31 pm

What did Kep Land do? Care to elaborate further?
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Re: Capital Commercial Trust

Postby ucypmas » Fri May 22, 2009 10:46 pm

Ah sorry for the previous message. Did not read the time of posting.

So another right issue, it seems.
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Re: Capital Commercial Trust

Postby ichew » Sat May 23, 2009 10:32 pm

sorry ucypmas, ya u rite. is another rights issue :-)
and i was also posting this as another million-dollar qn to MM
just having fun on a fri keke :P

===========

btw anyone can help me with below 2 qns? Thanks in advance.

Q1) in the news release (pg3 of 8 ) , CCT mentioned post-rights distribution yield of 10%.
How did they get this 10%?
In the notes (5) at the bottom of this page, CCT said FY08 pro-forma adjusted DPU is 5.91cents.
This divided by their TERP $0.825 is only 7.16% yield.

Q2) In 1Q09, CCT reported DPU $45.404m / 1401m shares or 3.24cents
CCT pays dividends semi-annually
does it mean shdrs will now need to share this $45.404m with additional 1403m rights shares? else face dilution?
so post-rights, 1Q09 becomes abt $45.404 / 1401m + 1404m rights shares = 1.619cents
correct?
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Re: Capital Commercial Trust

Postby ichew » Sat May 23, 2009 10:56 pm

adding notes on their $370m convertible bonds due 2013
see pg 114 of AR08

as at 31dec08, conversion px = $2.6033 :-)
can convert anytime from 21may08 to 21apr13
based on this px, can convert into abt 142m shares
redeemable by bondholder on 6may11

as at 31dec08, effective int rate of this convertible bond is 5.16% per annum
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