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Time has proven that the management is not that fantastic.
They sold the 27% stake in Ngee Ann city for S$380m, but it is worth almost 1b now and is being owned by Starhill Global Reit. They sold Gurney Plaza in Penang , now the price is more than double of what they have sold.
They paid almost S$100m for that property in Japan with an initial cap rate of 6.5% when occupancy rate was 100% , now with only 50% occupancy rate,this investment should be below par.The location of this property is not that good , so not that easy to find tenants to replace the existing one, unless they are prepared to accept low rental.
They sold the 27% stake in Ngee Ann city for S$380m, but it is worth almost 1b now and is being owned by Starhill Global Reit. They sold Gurney Plaza in Penang , now the price is more than double of what they have sold.
They paid almost S$100m for that property in Japan with an initial cap rate of 6.5% when occupancy rate was 100% , now with only 50% occupancy rate,this investment should be below par.The location of this property is not that good , so not that easy to find tenants to replace the existing one, unless they are prepared to accept low rental.