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(26-05-2013, 12:54 PM)charliehoh Wrote: Hi, do you have full download version of Bobby Jaya ebook?
Mind to share it here? Much appreciated!! 
(19-09-2012, 11:57 AM)Contrarian Wrote: Bobby Jayaraman has written a book on "BUILDING WEALTH THROUGH REITS".
It is now available at bookstores...
Well worth a read...
It costs ~S$24 to get a copy from local bookstore. It is definitely worth the money IMO. An alternative is to borrow it from NLB, but it seems a popular book that always need reservation.
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
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just my IMO, simplistically, REITS through its structure should really be trading higher than the NAV. The ratio of P/NAV reflects how capable the management team is, i.e higher P/NAV means the market believes the current management will be able to better utilize the assets and hence NAV should rise and vice versa. Of course this assuming a neutral market..
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IMHO, the share price is more of a function of yield. My gut's feel is that after factoring in the yield of other classes of assets such as bond, investors chase and drive the Reit price up to a point whereby the (decreasing) yield hits a so called equilibrum. In yesterday years, the interest rates were higher and so were bond yields, so Reits price was lower and % yield was higher. No doubt Net Property Income and DPU have gone up over the years, but Reits prices have gone up even more and yield has subsequently become more compressed. Keep hearing comments that below 5% yield is not attractive ...
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27-05-2013, 01:29 PM
(This post was last modified: 27-05-2013, 02:12 PM by NTL.)
How about looking at the landlease of the properties. I believe that the value of a freehold/999yr property will be more than a 99yr or 30yr property. So, if a REIT that is holding freehold/999yr property, very likely that the yield will be lower? Tenants don't care about the landlease. As such, very likely for commercial REITs whose lease are usually longer than industrial REITs (Singapore's context), their yield will be lower.
Please correct me if I am wrong.
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