Posted by: donmihaihai | May 4, 2022

Number never lie part 2

CICT (FKA CMT) again.

Wrote in 2017 https://illdoitmyself.wordpress.com/2017/01/30/number-never-lie/#comment-1184

Corrected some errors and put up a table with addition number.

It is getting really wow. DPU gone 8%, straight down from 2015 and only 30% higher than 2003. 30% beat inflation? Maybe not unless I use pre Covid DPU but still hardly beat inflation.

Ok 2021 is a Covid year but hey NPI of the Tampines Mall, Junction 8 and Funan increased by 15% from 2015. Covid or not, those 3 properties were doing better.

The only winner is the fund manager. Total assets increased by 1,583% and management fee by 1,106%. How nice of the fund manager that the increase in management fee is not as fast as total assets.

The main point is, will the past repeat itself? If so, will you invest in a REIT where DPU in the future will likely to be lesser(ok maybe just little more) after adjusted for inflation?

Oh yes, remember to check on the increase in total assets and management fee. These are the REAL main points.


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