This would be a "rough analysis" on CMT ( Capital Mall Trust ) , the main focus would be on the portfolio lease of CMT which would also be "rough " . Below are only small part of Citi Asean Investor Conference 2014 . More info and fundamentals could be found here
For the next 2 years ( 2015 , 2016) as you can see , CMT would face the most number of leases expiry .
The income per month compared to past and forecasted years is more than 10 % .
I am quite surprise that Tampines Mall , IMM Building and Lot One Shoppers' Mall attributes quite an amount to the Mall income . The 3 locations are considered to be located at far end of Singapore respectively.
Respective AEI phases would be going for IMM Building and a proposed AEI to Tampines Mall. The Tampines Mall , IMM Building and Lot One Shoppers' Mall are the "pioneers " of CMT Portfolio and certainly attributes to a heavy core of CMT .
With upcoming further enhancements to the "pioneers " , it is assuring that the performance of portfolio would be brought to another level with all else remains equal .
for such a large REIT, what are you analyzing on that will make an impactful difference
ReplyDeleteHi Kyith
DeleteThe next 2 years would be crucial to CMT as the number of leases expired are quite an amount , AEIs and Acquisitions . This might add on to the High Capex .
I have a mixture of thoughts , the healthy balance sheet might not be that " healthy" after that if all else remains equal too ( kopping this from AK 71 ) hahaha.
don't over analyze. it is likely the grow rate is at best that of starhill and fct. it is too big to move.
DeleteNice analysis, I keep confusing this Trust with the one privatized by CapitaLand recently lol
ReplyDeleteHi Richard
DeleteHahaha , thanks Richard .