S-REITs 1Q19 Review

It's been an exhilarating quarter for those who kept the faith after a terrible 2018 and held onto their REITs this quarter. As explained in a prior post, falling bond yields globally have been the fuel behind the sharp S-REIT rally. The rally had little to do with the underlying...

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REITs III: Exchange Rates

This is Part III of my series on REITs. Please refer to Part I and Part II. My series on REITs will not be complete without touching on exchange rate, given the internationalisation of the SGX as a major listing hub for REITs all over the world. Even blue chip REITs which...

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S-REITs Jan-Feb 2019 Review

S-REITs have been on tear this year, outperforming the broader market by a wide margin. Economic and market conditions have been optimal for a REIT rally. These conditions include falling bond yields due to expectations of looser monetary policy by major central banks as...

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IREIT Global (SGX:UD1U) 4Q18 Review

While 4Q18 results did not spring any major surprises, I noticed several salient points regarding IREIT Global (IREIT). Please refer to my initial piece here. Gearing continues its gradual slide on upward revaluation of assets. As per the quarterly presentation, IREIT’s...

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Banks Part II: Asset Quality

This is the second part of my series of the banking sector using the CAMELS framework. Please refer to my first part on capital adequacy here. In my previous article on capital adequacy, I briefly described how the losses incurred from bad loans can wipe out a bank’s...

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Banks Part I: Capital Adequacy

Banks typically feature in the average investor's portfolio as they are usually major components in the stock market index and are well-known brand names. Banks also make good dividend stocks in general, owing to their relative stability in dividend payments. However, they...

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Happy Chinese New Year!

Wishing my readers a prosperous year ahead! I will take a break from posting about financial matters and instead post some my favourite hong baos for this year, and from my collection over the years. Let's kick it off with UOB's geometric pig motif that is quite...

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REITs Part II: Interest Rates

This is the second part of my analyses of REITs. Refer to Part 1 here. The first part deals with the components of a dividend yield, where I mentioned that the risk-free rate sets the base for a REIT's dividend yield. In this post, I will focus on this component, as...

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IREIT Global (SGX:UD1U)

Germany's office real estate has been on a roll over the last few years. Judging from its share price, IREIT Global (IREIT) was deep in slumber amidst the real estate frenzy. I will examine this much unloved and non-covered REIT, as it offers an interesting, albeit long-term...

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