Sunday, 20 October 2013

REITS Insider Trading - OCT

Date Counter Shares (K) Insider Action Price Range
7-Oct-13 First REIT 10 Ronnie Tan Keh Poo@Tan TAY POO Acquisition 1.07-1.09
8-Oct-13 First REIT 70 Ronnie Tan Keh Poo@Tan TAY POO Acquisition 1.06-1.075
11-Oct-13 FCT -4066 The Capital Group Com Inc Disposal 1.84-1.86
7-Oct-13 MLT -3772 Newton Investment Management Ltd Disposal 1.045-1.065
7-Oct-13 MLT -4380 BNY Mellon Investment Mgmt(Jersey) Ltd Disposal 1.045-1.065
8-Oct-13 MLT -470 MBC Investment Corp Disposal 1.05-1.07
2-Oct-13 Saizen -1000 Kin Chan Disposal 0.182-0.185
3-Oct-13 Saizen -127 Kin Chan Disposal 0.182-0.187
4-Oct-13 Saizen -6 Kin Chan Disposal 0.184-0.187

1. Mapletree Logistic Trust

Institutional investors are dumping their shares just weeks before MLT released its 2Q FY13/14 results. Both Revenue and NPI dropped due to weaker JPY. But DPU increased due to lower borrowing cost.( A big question mark whether this is sustainable in current environment). The report stressed that over 90% of its income is pegged to or derived from SGD, which is reassuring. But its funding relies heavily on JPY. It seems that MLT expects JPY to keep softening against USD or SGD.

Take a look at the technical chart.

2. First Reit

It is getting insider's support albeit at a token amount. Since Sep Fed meeting announcing no QE tapering, First Reit is getting a nice rebound and the momentum is building up. Its recent drop in Mid-Aug caused by Indonesian Rupiah volatility was overdone, as the currency exposure to First Reit should be minimal and limited due to its rental fee structure. It is due to release last Q report on 25 Oct, which will be scrutinised by investors.

Take a look at the technical chart.

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