SG Investor Hub Blog

The Real Way To Compare Travel Insurance Insurers Don’t Want You To Know

Travelling is the third favourite past-time of Singaporeans, right behind queuing and complaining. According to a 2015 Expedia survey, almost 50 percent of Singaporeans take up to two vacations a year. Around 27 percent of Singaporeans take at least four vacations in a year!   Singaporeans Are Vacation-Deprived. Can You Believe It?    The need […]

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Why I would not invest in Ascendas REIT

Being Singapore’s first and largest listed business space and industrial real estate investment trust, Ascendas REIT has certainly come a long way. From eight properties valued at around $600 million in 2002, the Manager has grown the REIT to a market leader with total assets of about $10.4 billion, comprising 100 properties in Singapore and 31 properties in Australia. With such stellar track record, Ascendas REIT is definitely worth taking a look.

But the abrupt resignation of former CEO Chia Nam Toon in November 2017 had raised eyebrows among investors. After all, Mr Chia had joined Ascendas REIT for less than two years and resigned “for personal reasons”. Although the management had stressed that it would be “business as usual”, we all know the CEO plays an important role and to downplay the significance of the event would be ridiculous. Nevertheless, a new CEO – Mr William Tay Wee Leong – was appointed in February 2018.

Ascendas REIT

But the reason why I would not invest in this REIT supremo is not because of the change in leadership, but because of my concern on its financial health. For FY2017/18, the cash and cash equivalent was a negative $23 million. The REIT needed …

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