Forterra Trust (formerly: Treasury China Trust)

[Nick]

http://www.remisiers.org/cms_images/Trea...02_OIR.pdf - OCBC released an unrated research report on TCT after a site visit in Shanghai. Analysts are most likely taking greater notice of this sector with the impending IPO of its smaller rival Perennial China Trust. TCT has repurchased 1.418 million shares or 0.55% of the oustanding stock float. This move has brought good returns to unit-holders as it has driven the unit price to its record high of $2.10 which represents an attractive 19.3% return from its opening price of $1.76 nearly a year ago. TCT (and Perennial) are in a relatively new field (property development trust) and time will tell how viable the business model is.

(Not Vested)

[Nick]

CIMB Report: Upgrade on Qingdao mega project

http://phx.corporate-ir.net/External.Fil...BlPTM=&t=1

UOB Kay Hian Report: An undiscovered commercial property gem in China

http://phx.corporate-ir.net/External.Fil...BlPTM=&t=1

TREASURY CHINA TRUST UNIT BUY-BACK PROGRAMME ACHIEVES INITIAL GOALS

http://www.treasurychinatrust.com/Pics/T...-06-11.pdf [SGX Announcement]

Business Times: TCT's unit buyback boosts liquidity, valuation

http://kfc1973-stock.blogspot.com/2011/0...idity.html

TCT has repurchased 1.918 million units as of today which represents 0.74% of the outstanding unit float. TCT closed at $2.12. In light of PRCT IPO, will there be more interest in this new sector especially since TCT is the larger entity ? We will need to see how the model fares in the coming years to determine its viability.

(Not Vested)

[Drizzt]

this is one business trust that is bucking the trend

[Nick]

Phillip Securities Research: Proactive asset management

http://www.remisiers.org/cms_images/rese...ate_PS.pdf

TCT closed at $2.05.

(Not Vested)

[Nick]

Business Times: Treasury China faces Shanghai office glut risk

http://kfc1973-stock.blogspot.com/2011/0...ffice.html [Article]

(Not Vested)

[freedom]

no distribution for FY2011. Is it a surprise? almost no cash generation from its existing matured operation.

[KopiKat]

no distribution for FY2011. Is it a surprise? almost no cash generation from its existing matured operation.

Delayed indefinitely? Extracts (pg5),

Distributions
The board has determined that in light of the ongoing uncertainty with respect to the liquidity environment in China, the development program now underway and the sale program for Beijing Logistics Park, that a decision regarding declaration of a distribution for the six months ending 31 December 2011 is delayed.

[propertyinvestor]

Another FSL Trust Shocker!

[freedom]

no distribution for FY2011. Is it a surprise? almost no cash generation from its existing matured operation.

Delayed indefinitely? Extracts (pg5),

Distributions
The board has determined that in light of the ongoing uncertainty with respect to the liquidity environment in China, the development program now underway and the sale program for Beijing Logistics Park, that a decision regarding declaration of a distribution for the six months ending 31 December 2011 is delayed.

try to sell Beijing Logistics Park for distribution?

on the book, debt incurred for Beijing Logistics Park, 104 million, 39.2% of its asset value, so the asset value would be around 265 million. Does it include all the on-going construction cost?

in excess of 30million annual revenue from its leases to Taobao and Shun Feng Express.

how much yield(revenue instead of net property income) would the buyer ask? 10%, they can fetch 300 million.

[Nick]

Are they gg to manage property funds in China ?

http://info.sgx.com/webcoranncatth.nsf/V...9004F0568/$file/Equity_investment_management_licence.pdf?openelement [Press Release]

(Not Vested)