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KORE has made a poor announcement of putting an EGM vote where it is going to a "Manulife US REIT" lite mode where it can now either (i) announce a payout ratio of 0-100% or (ii) suspending dividends until end2026, originally end 2025 was supposed to restart or both.
As I have said, due to the age of KORE's assets (the oldest among the 3), maintenance CAPEX is eating away most of the cash generated. I have enquired before about the taxation. Due to KORE's net loss position due to devalaution of properties, KORE does not incur much taxes even if it does not distributre distributions, similar situation for PRIME US and Manulife US.
My view is that shareholders should not support the EGM amendment. If KORE continues to be insistent, it is best to be liqudated so that NAV can be salvaged, otherwise, Keppel Limited is going to use its cashflow to continue maintain its aged portfolio with almost all its cashflow generated.
KORE has made a poor announcement of putting an EGM vote where it is going to a "Manulife US REIT" lite mode where it can now either (i) announce a payout ratio of 0-100% or (ii) suspending dividends until end2026, originally end 2025 was supposed to restart or both.
As I have said, due to the age of KORE's assets (the oldest among the 3), maintenance CAPEX is eating away most of the cash generated. I have enquired before about the taxation. Due to KORE's net loss position due to devalaution of properties, KORE does not incur much taxes even if it does not distributre distributions, similar situation for PRIME US and Manulife US.
My view is that shareholders should not support the EGM amendment. If KORE continues to be insistent, it is best to be liqudated so that NAV can be salvaged, otherwise, Keppel Limited is going to use its cashflow to continue maintain its aged portfolio with almost all its cashflow generated.