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First REIT
21-11-2018, 01:22 PM.
Post: #281
RE: First REIT
(20-11-2018, 09:54 PM)kelvesy Wrote: LTM revenue for First REIT = 115m. They have 31.8m trade receivables. TR % of LTM revenue = 27.6%. Why does FIRST Reit even have trade receivables as a landlord? Higher receivables = DPU has to be funded from existing cash balances or debt instead of organic operations or raising the possibility of future lower DPU.

From 3Q-2018 report.

Trade and other receivables increased from S$26.0 million to S$49.3 million mainly due to advance rental receivables from tenants. On 15 October 2018, the Trust has received rental payments amounting to S$17.5 million from tenants.

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12-03-2019, 09:24 PM. (This post was last modified: 12-03-2019, 09:34 PM by weijian.)
Post: #282
RE: First REIT
First REIT's parent and largest debtor has deleveraged and it seems like its other siblings (OUE Lippo Healthcare and LMIRT) are paying the bill. Good news for First REIT overall.

Lippo Karawaci secures US$1b in funding; names new CEO and CFO in transformation plan

Of the US$1.01 billion in funding, US$730 million was from the rights issue underwritten by the Riady family, and US$280 million was from the completion of Lippo Karawaci's asset divestment plans.

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