Author: Vince   |   Latest post: Fri, 25 Sep 2020, 6:43 AM


BHG Retail REIT Analysis @ 30 August 2020

Author:   |    Publish date:

Basic Profile & Key Statistics

BHG Retail REIT (BHG) invests in retail properties in China. BHG currently owns 6 retail properties in  Beijing, Chengdu, Hefei, Xining and Dalian.


Lease Profile

Occupancy is slightly low at 92.9% and its income is received in RMB. WALE is short at 3.7 years where the highest lease expiry of 29.8% falls in FY2021. Weighted average land lease expiry is short at 24.68 years, common for China properties.


Debt Profile

Gearing ratio is healthy at 35.9%. Cost of debt is high at 3.9% despite all of debts are secured debt. Fixed-rate debt is low at 50.1% which is favorable in current low interest environment. Interest cover ratio is low at 2.6 times. WADE is short at 1.7 years where the highest debt maturity of around 97%  falls in the year 2022.


Diversification Profile

Top geographical and top property contributions are the same at 55.6%. It is considered moderate in terms of geographical and high in terms of property contribution. Top tenant contribution is high at 15.8% while top 10 tenants contribution is low at 24.4%. 


If you would like to read more, pelase continue here.

Share this

I3 Messenger
Individual or Group chat with anyone on I3investor

132  98  170  703 

Top 10 Active Counters
 Jiutian Chemical 0.051+0.005 
 Sembcorp Marine 0.142-0.002 
 Singapore-eDev 0.062-0.001 
 Samko Timber 0.034+0.001 
 Avarga 0.26+0.015 
 AnAn Intl 0.033+0.004 
 Addvalue Tech 0.024+0.001 
 Rex Intl 0.146+0.003 
 SingTel 2.14+0.02 
 ThaiBev 0.5850.00