MPACT at 8-Year Low: Time to Buy or Wait?

Рет қаралды 19,633

Күн бұрын

Mapletree Pan Asia Commercial Trust is now trading at an eight-year low. Why has its unit price fallen so much recently? Will its foreign assets (China/Hong Kong) continue to drag the REIT's performance lower?
With its current yield at ~6%, is this an opportunity to pick up a slice of one of our favourite Singapore REITs... or is there more uncertainty ahead? We discuss all this and more in our latest episode.
00:00 Introduction
00:40 MPACT's assets
02:00 Why has its price dropped?
06:05 Are its foreign assets a drag?
18:50 Valuation
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Пікірлер: 41

@hengkai5832 8 ай бұрын

Looking forward to Lendlease analysis!

@robertdagge200 8 ай бұрын

The merger of the two prior REITs was just plain stupid. Everyone could see that.

@paulpaul7777 8 ай бұрын

Yes for now

@BlackSwan-sq2iw 8 ай бұрын

REITs investors must have the ability to weather through markets like this. That's why diversification is very important. For me, i do see this as an opportunity to either shift from weaker assets to stronger ones and also to slowly increase weightage in REITs that I think can survive this down turn without major structural impact. My take is the inflation will eventually come down unless there is a war and energy prices shoot up again. Barring that, evidence shows that inflation should be tamed in the next 12-24 months and consequently the interest rates would likely go down. The reversal of sentiments could be quick as well.

@TheFifthPersonChannel 8 ай бұрын

Good points!

@paulpaul7777 8 ай бұрын

❤❤video comes just the right time when I need it, thanks mates

@TheFifthPersonChannel 8 ай бұрын

Welcome, Paul! 😊

@benjamintayaj 8 ай бұрын

Great sharing! Thank you!

@TheFifthPersonChannel 8 ай бұрын

Thanks for watching, Benjamin!

@zongminlim1390 8 ай бұрын

Any plan to record a video on AIMS APAC & ireit global reits? Thank you.

@TWKM31 8 ай бұрын

I would like to ask, how do u measure the performance of a dividend portfolio? Ie. How do you know if your portfolio for this year did better than last year or 2 years back, or even against the performance of someone else’s portfolio? Also, what do you do to increase the dividend portfolio’s performance?

@TheFifthPersonChannel 8 ай бұрын

No portfolio can do better every year; there will always be fluctuations year to year. As long as your dividend and overall return grows steadily above the risk-free rate over the long term, you are doing great! As you learn and gain more experience over time, you will improve your performance if you manage your portfolio well.

@zleejunz 8 ай бұрын

Quality content, love it!

@TheFifthPersonChannel 8 ай бұрын

Glad you enjoy it!

@nicholaskoh9182 8 ай бұрын

Thanks for sharing.

@TheFifthPersonChannel 8 ай бұрын

Thanks for watching!

@billycaymann 8 ай бұрын

So is it to say : 1. The reits that have overseas property are at risk currently due to fluctuation of currency against sgd ? 2. Advisable to focus on purely or majority singapore based property reits ? Unless properties that are based in overseas that don't see depreciation against sgd such as the US.

@TheFifthPersonChannel 8 ай бұрын

1. Any REIT with a sizeable portfolio of foreign assets has forex risk when converting foreign income to home currency. A good REIT manager will typically hedge this to smoothen fluctuations 2. This is a personal choice based on your investment goals. Some prefer Singapore-only REITs, others may prefer the higher potential growth beyond Singapore.

@HeahMinAn 8 ай бұрын

1. Currency works both ways. If SGD is weak, the results would be otherwise. Perhaps what’s more important is: Is my REIT manager securing a property yield higher than the interest rate? If no, what’s going on? 2. Would it be better to choose a REIT that I understand the most? My 2 cents 🙂

@jacksonyang2577 8 ай бұрын

I think i will ask for at least 7% or 8% yield will be more attractive, as bank already giving 6% yield, so we should demand higher yield on reits that has right issue (which banks dont have)

@bryantan7285 8 ай бұрын

Can talk about SATS S58?

@xhxh7060 8 ай бұрын

Would you say they were forced to merge? because other REITs were merging (ESR + ARA, Capitalands, Frasers). Probably they do not want to be at the bottom of the SG REIT index or worse get kicked out?

@TheFifthPersonChannel 8 ай бұрын

There are advantages of a bigger REIT. A larger asset base raises your debt ceiling and gives you more flexibility in acquiring assets to grow for one.

@user-vl7ph6dg2u 8 ай бұрын

Love ur contents, how about doing one on Sg focus reits(at least 80% local assets)? Ty and jia you.

@TheFifthPersonChannel 8 ай бұрын

Thanks! We did a recent roundtable on CICT here: kzfaq.info/get/bejne/iqyIhZuVmt22dYE.html

@frezzercountermax2808 7 ай бұрын

Are dividends from Singaporean REITs tax free from the singaporean part of the calculation ?

@TheFifthPersonChannel 7 ай бұрын

Yes, dividends from Singapore REITs are tax free.

@xuedalong 2 ай бұрын

Still going down, 7% yield now :)

@lumvincent7431 8 ай бұрын

My wife n i been buying n selling Mpnact since 2012 till merger with MCT. Enjoy attractive dividend yield n capital gain along the way . High rate for next 2 yrs will be disaster for USA economy if Feds still don't cut rate in 2H2024. But at same time, my wife n i also buy T-bills n SSB. Which is free lunch from MAS .

@chinsienliew556 8 ай бұрын

Waiting for the MPACT price to drop to 75% of its intrinsic value :D

@conniechan4576 8 ай бұрын

👍👍👍👍👍👍👍👍👍👍

@hatchegg80 8 ай бұрын

when rusmin is stressed, he sounds more malaysian

@GodTell7 8 ай бұрын

I will all of d reits now, properties may dip another way of inflation again

@paultan4240 8 ай бұрын

The Manager wanted to increased the AUM so to increase their fees..and reduce their headcounts. Stupid short termism and financial engineering..instead of long term investment

@himanshusrivastava2025 7 ай бұрын

Wait for at least 7% yield, if not 8

@ibrahimseth8646 8 ай бұрын

Loan=100M Yield=5% Year=30 Loan(30 Year)=1.05^30*100M Loan(30 Year)=440M Insurans: Premium=? Yield=6% Year=30 Premium=440M/1.06^30 Premium=77M(Payout=440M) Balance=Loan-Premium Balance=100M-77M Balance=23M(Debt=0). Note:Equation and exponential Technique. Thank you.

@lumvincent7431 8 ай бұрын

I bought some at $1.41 & $1.31 today. Need to wait n collect good quarterly dividend first . I believe Feds will cut rate in 2H2024 . Now benchmark rate at 5.25-5.5% ! USA president election in Nov 2024 . Past data showed low interest rate prior to Election. I might buy some more if price dropped to 0.6 of NTA . Just like keppel reit,which i bought some last week at $0.795. Both counters major shareholders are Temasek .

@banqwert3 7 ай бұрын

Has anyone told Rusmin that his voice and mannerisms are a dead ringer for Ong Ye Kung

@TheFifthPersonChannel 7 ай бұрын

Hahaha! We gotta tell Rusmin this 😂😂

@seeker9912 19 күн бұрын

If we are collecting 6.6% yield consistently for yrs to come wont mind buying at the current price however that is unlikely for a few reasons. 1. The current interest on its debt is 2.7% due to hedging and rates fixed when interest rates are low. When it refinances we are seen interest rates nearer to 4%. This will take the DPU down. 2. The HK and China properties will see negative rent reversions for years as the economic growth may remain weak for a long time. It really needs to go down some 20% more to be attractive to me.