I have compeleted divesting Yangzijiang Financial shares. With the realised gains and initial capital, I have bought other companies such as Starhub and further increase in my position of Lendlease REIT.
Lendlease REIT Higher DPU for Next 3 Years
The sale of its JEM office is DPU accretive because the interest saved outweighs the office revenue the REIT would have earned even factoring the 13% rental escalation. Second, with a lower leverage ratio, the REIT can start to use its bank borrowings of 3% interest to redeem perpetuals as and when they reach maturity. I expect 4.0 cents total dividend for 2026 & 2027 and 4.3 SG cents in 2028. Debt ratio will be about 44% once all perpetuals are exchanged to bank borrowings. Buying Lendlease REIT at up to 60 SG cents is attractive given the future dividend of 4.3 cents (7% yield)
Another divestment is Yanlord, keeping only
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