Stock changes 16 Dec

Updating stocks holdings as of 16 Dec :-

SRS - Closing status 13 September

Sold away Ascendas Reit 2 lots at $81 nett gain; under one week of re-investment into it.  Projected next dividend amount at $71 = 2 lots x dividend rate (assumed same as last year) $0.0353 so the $81 nett gain came in slightly higher.  With this divestment l do not have to wait till its next XD date in Oct'13 and l have already collected its dividends in advance by around three months as payment expected to happen in Nov'13.     

Re-invested into Cache Logistics 7 lots under SRS portfolio after having divested it away last week.  It is now my 2nd largest holding at 13% of total SRS portfolio and it caused me poorer by 1.5% (over my investment costs in it) or -$121 at the end of this week.  If l am stuck with this investment then l can expect getting 7.4% dividend yield per year. 

Divested CM Pacific 5 lots so my remaining total holding in it now at 3 lots.  Achieved 2.2% returns or $91 nett gain over a holding period of 1.5 months.  It is having CD status at the moment and XD will happen on 18 October.  If its share price weakens again then l will definitely re-invest into it.  l am curious of next action plan after its failed disposal of its property development business in New Zealan and failed acquisition of Jiurui Expressway.

Invested Sabana Reit 3 lots right after it announced a successful private placement in this week.  An advance distribution of $0.022 was declared which is expiring on 19 Sept.  Depending on how its share price perform next week,  l will probably divest it away for a nett profit better than bank savings rate (of say, 0.8%) hopefully before its XD date; otherwise l will have to keep it for 8.5% dividend yield per year.

Portfolio walk since previous posting :-

+$5939 Total Returns as of 6 Sept

+$172 Gain on sales of Ascendas Reit, CM Pacific

-$395 Unrealised positions worsened

+$5,717 Total Returns as of 13 Sept

previous posting :- SRS - Closing status 6 Sept

SRS - Closing status 6 September

Earlier part of the week l have divested Ascendas Reit 2 lots at $81 nett gain; under one week of investment into it.  Projected next dividend amount at $71 = 2 lots x dividend rate (assumed same as last year) $0.0353 so the $81 nett gain came in slightly higher.  With this divestment l do not have to wait till its next XD date in Oct'13 and l have already collected its dividends in advance by around three months as payment expected to happen in Nov'13.  And l can already re-cycle the proceed for my next investment.    

Later part of the week l have re-invested into Ascendas Reit 2 lots.  Its new property building in Fusionopolis already achieved a pre-commitment for 58.3% of the lettable space. Another 16.2% of the lettable space is under advanced negotiation.  So can it can expect more revenue in the near future.  If l am stuck with this investment then based on my investment costs in it then l can expect a 6.3% dividend yield per year from it.  As usual, l am eyeing an exit selling price equal to its next dividend payment in Nov'13.

Received bank statement in this week for my SRS portfolio and there were records of dividends in it for August month :-

$216.40 CDL Hospitality Trusts
$108.00 Mapletree Logistics
$100.00 Sembcorp Marine
$62.50 SingPost
$50.00 Tat Hong

Divested away Cache Logistics 3 lots in this week under SRS portfolio at $47 nett gain.  Assuming that dividend rate same as last year, l have actually managed to collect 73% of it ---> 3 lots x dividend rate $0.02144 x 73% = $47.  Anyway l am still happy with the $47 nett gain as it is a 1.4% returns of my investment costs in it for a duration of two weeks which is better than bank savings rate . Hoping to re-invest into it soon.

Portfolio walk since previous posting :-

+$4,624 Total Returns as of 30 Aug

+$537 Dividends from Sembcorp Marine, SingPost, Tat Hong, CDL HTrust, Mapletree Logistics

+$128 Gain on sales of Cache Logistics, Ascendas Reit

+$651 Unrealised positions improved

+$5,939 Total Returns as of 6 Sept

previous posting :- SRS - Closing status 30 Aug

SRS - Closing status 30 August

For this week under SRS portfolio l have invested into Ascendas Reit 2 lots.  If l am stuck with this investment then based on my investment costs in it then l can expect a 6.4% dividend yield per year from it.  For now, l am eyeing an exit selling price equal to its next dividend payment in Nov'13. 

Portfolio walk since previous posting :-

+$5,041 Total Returns as of 23 Aug

-$418 Unrealised positions worsened

+$4,624 Total Returns as of 30 Aug

previous posting :- SRS - Closing status 23 Aug

Ascendas and Accor in Mirvac hotels deal

What's keeping Ascendas from announcing this deal?

>>>>

Accor strengthens its position in Australia and New Zealand

Monday, December 19, 2011

Following this transaction comprising of 6,100 rooms (48 hotels) Accor’s portfolio in those countries will reach 241 hotels, covering the spectrum of hotel segments. The acquisition of Mirvac is fully in line with Accor’s ambitious development strategy announced last September, which includes a target of 40,000 room openings each year in 2012 and 2013, mostly in an asset-light capacity. This operation also demonstrates Accor’s ability to secure its leadership in mature markets, through selective acquisitions. With this transaction, the Group’s network in Australia and New Zealand will reach 241 hotels and 32,500 rooms, covering the spectrum of hotel segments and resulting in a strong presence in each.

“This operation is a major success in a high growth market. With our growth strategy which includes both organic growth and targeted acquisitions such as this one, enabled by our excellent financial situation, I am confident in our capacity to reach our objectives”, said Denis Hennequin, Chairman and Chief Executive Officer. “With an accelerated growth of our offer, stronger brands, unique operational know-how and a dynamic asset management policy, Accor is today aligned with its ambition to become the global reference in the hotel industry”.

The total amount paid by Accor for this acquisition is 195 million euros and includes:

- Mirvac Hotels & Resorts, a management company of 48 hotels (inc. 2 owned hotels), representing 6,100 rooms, for 149 million euros.

- A 21.9% stake in the Mirvac Wholesale Hotel Fund (MWHF), an investment vehicle with ownership of 7 of the hotels, for 46 million euros. Accor and Ascendas, the Singapore real estate developer, are to acquire together Mirvac’s 49.2% stake in MWHF.

The 48 hotels are located mainly in Australia, in key cities such as Sydney, Melbourne, Brisbane and Perth. Four of the hotels are located in New Zealand. The majority of the portfolio will be integrated into Accor’s upscale and midscale brands: Sofitel, Pullman, MGallery, Novotel and Mercure.

Completion of the deal should occur during the first half of 2012, notably after regulatory approvals. The real estate component of the deal will be managed according to the Accor’s asset management policy.

“This agreement is an important step for Accor in Australia & New Zealand, 20 years after our debut in these countries. It offers strong synergies with our existing businesses and further enhances our already leading position”, said Michael Issenberg, Chief Operating Officer Asia Pacific. “At a regional level, along with our pipeline of over 200 hotels committed in Asia Pacific, it demonstrates our continued ability to develop our position in this key region for the Group”.

Following this operation, Accor’s portfolio for the Asia-Pacific region will consist of more than 500 hotels and about 96.000 rooms.