Highlights
SGX: OUE (LJ3)       OUE LIMITED
Last Price Today's Change   Day's Range   Trading Volume
1.45   0.00 (0.00%)  1.45 - 1.45  18

Overview

Avg Volume (4 weeks):0
52 Weeks Range:1.36 - 1.53
52 Weeks Price Volatility (%):
52.94%
Average Price Target: 2.25
Price Target Upside/Downside: +0.80

Headlines

Date Subject
20-Sep-2019 Phillip Capital Morning Note - 20 Sept 2019
14-Aug-2019 Phillip Capital Morning Note - 14 Aug 2019
28-Feb-2019 OUE Limited: They Sell; We Buy
27-Feb-2019 OUE Limited: Dividends Galore
13-Nov-2018 OUE Limited: Transform and Roll Out
12-Nov-2018 OUE Limited: In-line 3Q18 Results
25-Oct-2018 Phillip Capital Morning Note

Business Background

OUE Limited, a diversified real estate company, owns, develops, and operates real estate portfolio located in prime locations in Asia and the United States. It operates through Hospitality, Property Investments, Property Development, Fund management, and Investment Holding segments. The company develops and manages landmark assets across the commercial, hospitality, retail, and residential sectors primarily in Singapore. It also operates hotels; retails and leases retail spaces and office properties; develops and sells residential properties; and manages real estate investment trusts. The company was formerly known as Overseas Union Enterprise Limited and changed its name to OUE Limited in August 2013. The company was incorporated in 1964 and is based in Singapore. OUE Limited is a subsidiary of OUE Realty Pte. Ltd.

  ultraman likes this.
 
Lansford Loo NAV per share of OUE C-REIT: $1.02 (unaudited Dec 2013)
Issue Price: $0.80 (discount of 21.8%)
Loss to sponsor, OUE on per share basis: -$0.10

Essentially, OUE trying to sell apart of their assets to the market cheaply. Thus this is the key reason why OUE drops.

So why did OUE C-REIT drop?
Reason why investors would buy REIT? For stable yields. Lets look at the yield quality of OUE C-REIT:
1. REIT manager: OUE. Can OUE get more properties for the REIT at discounted prices or get more yield accretive properties to justify the 0.3% base management fee + 25% performance fee?
2. Can OUE C-REIT sustain the 6.8% yield they claimed on the front page of the prospectus?
(see pg 42) without income support the yield drops to 5.56%
(see pg 85) net income S$32, but pay S$47m in distribution using unit-holder contributions? what you pay for, they just return it straight to you? [note: stable yield prob only 2-3%]
stabilizing manager? or price support manager? c.5% of the units can be utilized in stabilization.

looks like if you're participating the IPO, you are banking on the work of the stabilizing manager.


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28/01/2014 8:34 AM


 

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