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Overview
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Business Background Al-Aqar Healthcare Real Estate Investment Trust is a Malaysia-based company. Its activity is investing in Syariah-compliant properties with the primary objective of providing unitholders with distribution and potential for sustainable long-term growth of such distribution and capital appreciation. The company operates through the geographic segments that are Malaysia and Australia. The Malaysian geographic segment generates maximum revenue for the company.
  kinuxian Alaqar may hv improved earning on parking fee if KPJ provide vaccine jabs service in near future. Master lease from KPJ should resonance well except property in Australia which lagging performance. 27/10/2020 8:06 PM investfuture alaqar 3q2020 analysis https://vitamincash.com.my/zh_CN/2020/12/05/alaqar-3q2020-quarter-report-analysis/ 05/12/2020 8:49 AM rahulsk1947 how come no dividend pay out for nov/dec? only 3 payouts this year... 16/12/2020 12:47 PM kinuxian Jeta Gardens @ Australia valuation down by 42mil but NPI as whole is increased actually. I doubt there will be any good buying opportunities. 19/02/2021 7:01 PM RainT Anybody notice the error in latest quarter report? The YTD revenue in the report is RM115,710,279 But the Q1 revenue is RM28,160,817 Q2 revenue is RM21,163,829 Q3 revenue is RM25,335,559 Q4 revenue is RM31,248,908 Total revenue is RM105,909,113 With differences of RM9,801,166 in the figures..... 20/02/2021 11:00 AM regyhl I refer to the matter of AL-`AQAR HEALTHCARE REIT ("AL-`AQAR" OR "REIT") PROPOSED LEASE RENEWAL https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3159692 2.4.4 Rental formula for rental amount on pages 5 to 8. For information, the agreed yield of 5.75% and the 200 BPS in the rent formula for the next contractual term under the Proposed Lease Renewal differ from that included in the rent rental formula under the previous Principal Lease Agreements primarily due to, amongst others, the interest rate environment. The 3-month Kuala Lumpur Interbank Offered Rate (“KLIBOR”) on 30 June 2006 was 3.92% as compared to 1.94% as at LPD (Source: Bloomberg). In addition,the spread under the rent review formula is now proposed at 200 BPS as compared to 238 BPS after taking into consideration, inter-alia, the improved financial standing of KPJ Group over the years. As at LPD, KPJ is a RM4.4billion (30 June 2006: RM323.7million) market capitalisation company with revenue of RM2.4 billion for FY 31 December 2020 My concerns are as follows: 1/ Whilst there is minimum rental protection, however the increase in rental is capped at only 2% regardless of the market value of the property or the 10 year MGS rate. The board's and MainStreet independent advisor report talks about the drop in KLIBOR however they did not consider the scenario where 10 year MGS rate goes back up towards 4.2% and subsequently increases ALAQAR's financing cost significantly. This proposal pushes the interest rate risk to ALAQAR for the next 15 years. How is it fair that the increase in rental be capped to 2% irrespective of the 10 year MGS rate on rental review years ? 2/ On page 18 section 5.3 of the circular, the new terms will effect an initial rental reduction of RM1,543,000 in the first year. The evidence of improved financial standing of KPJ is not convincing. This company's FY2020 is gearing is 67%. YTLREIT arranged a rental deferment and intends to pay back the arrears from 2022 onwards however in 2020 KPJ asked for a rental rebate during MCO 1.0 from ALAQAR. ALAQAR agreed instead of asking rental deferment. 09/06/2021 9:18 AM kinuxian Public mutual was trimming their holding, seems like it almost done, if not probably left couple million units to clear. UT Fund like Public Islamic Opportunities sold all, while PB SmallCap Growth, Public Strategic SmallCap Fund are trimming their holding but some was absorb by Public Islamic Select Treasures fund. 03/11/2021 10:19 AM kinuxian Seems like Public Strategic SmallCap Fund still triming their remaining 2mil as of end of Nov. Wander if EPF will do year end windows dressing as they stop acquiring since Aug, probably due to i-Citra. While KWAP, Tabung Haji all inaction for quite sometime aside from Johor Corp do some insignificant purchase. 15/12/2021 10:29 AM kinuxian back to envelope calculation, there're around 2mil transacted till date in Dec. Lets see if selling pressure ease by institute in coming days. JCorp will be flushed with cash once QSR listed and lets see if they had plan with KPJ and Alaqar. https://www.theedgemarkets.com/article/southeast-asia-kfc-and-pizza-hut-restaurants-operator-qsr-brands-picks-banks-malaysia-ipo 16/12/2021 10:02 AM kinuxian I guess we shall anticipate a negative revaluation in coming QR. https://www.theedgemarkets.com/article/kpj-revises-down-rental-rate-jeta-gardens-elder-care-homes-australia 24/01/2022 10:28 AM  kong73 The NAV per unit of Al-`Aqar Healthcare REIT as at 30 June 2022 is RM 1.2969. This announcement is dated 22 July 2022. 16/08/2022 11:36 AM  speakup One of the most undervalued REITS At 1.20 it's dividend yield is an astounding 6.7%! 3x higher than FD! 01/11/2022 9:20 AM StreetAnalyst My post was removed due to unknown reason. I guess some group of ppl in i3 are attacking my account... 02/12/2022 4:27 PM Eric Can I ask why most of the reits counter so low volume ? Should I be worried that it has such low volume cuz I planned to accumulate every month for at least the coming 5 to 10 years, or should I just go for MayBank ? Maybank dividend also not bad but much higher volume ? Like I saw UOA Reit / Alaqar whole day volume only 20k to 30k RM 01/03/2023 2:55 PM speakup With Sunreit selling SMC, this Alaqar is the only healthcare related REIT in Malaysia 21/03/2023 12:51 PM  | |
