[sgbuffett]

I received a call by a friend who own this and seek my opinion.

There are several issues. The company had to ask for an extension for repayment of $500M in loans. Earlier Edge magazine published an article company should be able to settle this. Stock rebounded and came back down.



This is a red flag for the simple reason that the environment now is the favorable now for companies to secure loans. How come the company had difficulty refinancing and had to ask for an extension.

There is no sharp fall in asset prices in China. If what it states in its financial statement for its assets is fair value then getting refinancing would be a breeze.

In such a situation I don't think its wise at all to stick around and see what is going to happen....and you need to protect yourself from what can possibly go wrong.

[sgbuffett]

I warned about this one when it was 50+cts and falling in the old forum. 

The REITs ran into some complications refinancing its debt. This should not ever happen if the numbers on its books and assets valuation are reliable...which shows net asset more than double the current stock price.

If they are not the question is how much overvaluation of its assets...and herein lies the risk for investors.

[sgbuffett]

The assets in this REITs are.



The NTA according to the company is $1.2 per share ...2.6 times the current stock price of 45cts.

They hire 2 valuers for the assets and on the books carry it at a discount to the valuation.

Here is an example. Typically each of their shopping centers are valued at S$300M to $500M in lower tier China cities.


Capital land sold 20 malls in lower tier cities to Vanke for a total of US$1.3B. See news below. The average size is similar and average is S$88M.

https://www.mingtiandi.com/real-estate/c...-for-1-3b/

The Dasin malls are 5 times the price.

[sgbuffett]

I really think you need to exit soon.
The risks are mounting. The accounts does not make sense to me.

[talky]

mid  june 2021 already chart looks bearish at ard 60cts

[sgbuffett]

Plse take care if you own this.

[ArielCasper]

Question is did they break the law when overvaluation their assets?

If yes, what is SGX doing??

If no, also what is SGX doing to allow a questionable practice to exist..

[Talent]

comonsense
will drop to 1cts

[sgbuffett]

2 yrs qgo I posted this warning about Dasjn reits.
It was 48cts. Today it is 9cts. If you have it just sell it before it goes to zero.

This reits is likely fraudulent.  They jnflated the price of the assets then do an IPO. I did a survey of shopping center properties in Chjna based on the deal signed by Capitaland to sell its retail assets. From the report j estimated that Dasin reits inflated the value of its properties by 3 times.

I will never be able to refinance its debts and collapse

[sgbuffett]

Question is did they break the law when overvaluation their assets?

If yes, what is SGX doing??

If no, also what is SGX doing to allow a questionable practice to exist..

SGX and Singapore authorities won't lift a finger.
They are only interested jn ipo and trading fees they earn when it IPO

Investors are always left holding the shit because they never do their work.

Because the allow scammers and crooks to come, there are many scammers and crooks who will queue up as SGX to list their worthless companies....and SGX will welcome.them