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Overview
Financial Highlight
HeadlinesBusiness Background Pavilion Real Estate Investment Trust is a Malaysian property investment company. Properties are located both domestically and in other countries within the Asia-Pacific region. The company generates the majority of revenue from leasing properties to its tenants. Pavilion REIT operates through two segments: retail and office. The retail segment delivers the vast majority of company revenue. Major retail tenants include fashion stores, dining venues, department stores, and supermarkets. Property and consultancy offices lease most of the lettable area in the office segment, followed by technology providers, financial institutions, and construction companies.
  CurryBento Pavilion Real Estate Investment Trust (Pavilion-REIT) has proposed to acquire Pavilion Bukit Jalil Mall (PBJ) from Regal Path Sdn Bhd for an aggregate purchase consideration of RM2.2bil. In a filing with Bursa Malaysia yesterday, it said Regal Path will dispose of one block of five-storey retail mall with two basement car park levels located within Bukit Jalil City, Kuala Lumpur, together with the related assets and rights. In addition, Pavilion-REIT will also acquire additional moveable assets required for the operations of PBJ Mall which include laptops, buggies and mobile elevating work platforms (ancillary purchases). 23/11/2022 1:12 PM CurryBento As at the latest practicable date, the total net book value of these assets is about RM3.4mil,” it said. Regal Path is a joint-venture company of Malton’s wholly-owned subsidiary, Khuan Choo Realty Sdn Bhd, Qatar Investment Authority’s wholly-owned subsidiary Q PBJ Sdn Bhd, and Tan Sri Desmond Lim via his private vehicle Jelang Tegas Sdn Bhd. Malton said the disposal is not expected to result in it becoming a cash company or a PN17 company as defined under the Listing Requirements. 23/11/2022 1:12 PM HUNTER from my last view 1.35 drop to 1.18,and now bukit jalil come to the picture.will good time to top up or wait for right issue that might happen? 30/11/2022 12:06 PM SmallSexyPig I think Bukit Jalil will help to boost revenue, the footfall there is very good from my last few visits it is increasing. Now just need the shops to come in too... 01/12/2022 3:00 PM  speakup Went to this pavilion bkt jalil, only food shops doing very well. Others struggling. 14/01/2023 10:39 PM PassionateInvestor Finally catching up. The forward dividend could easily be 6-8%. 19/01/2023 4:55 PM speakup anybody know how is pavreit going to buy pavillion bkt jalil? izzit thru PP or RI? 20/01/2023 4:33 PM speakup pavreit buy pavillion bkt jalil for rm2.2Bil means either massive PP or RI 20/01/2023 4:46 PM SmallSexyPig FYI: The total acquisition price of MYR2.2bn will be paid in stages and two tranches of unit placements. Upon the completion date, which we think it will be in 2Q23, PREIT will pay MYR1.65bn, comprising MYR1bn from bank borrowings, and MYR650m via cash proceeds from the first placement to the vendor. MYR150m will be paid upon the expiry of Defects Rectification Period (DRP) and upon issuance and delivery of the strata title which is targeted by end-2023. Finally, the balance MYR400m will be paid via cash proceeds from the second placement upon achieving a target net property income (NPI) of MYR146m on an annualised basis based on the latest six months historical NPI records. The structure of the deal is designed to target a 6.6% NPI yield while the new mall takes its time to get to full occupancy. Gearing level is expected to increase from 35% to 37% – still below the 50% limit stipulated by the Securities Commission. via rhbinvest 20/01/2023 5:12 PM hhhiii123 @speakup The recorded high profit due to huge increase in fair value of property. It will be good sign as rental should be increased as well. 01/02/2023 6:45 PM speakup was seriously thinking of buying this when <1.20 but then read acquisition of pavillion bkt jalil maybe rights issue, so didn't buy. thanks to pavillion bkt jalil, missed opportunity! 02/02/2023 9:11 PM pang72 We must salute China 大妈。。 Money is not important but must spend... To them 03/02/2023 4:33 PM pang72 https://www.chinapress.com.my/20230203/%e4%b8%ad%e5%9b%bd%e5%87%ba%e5%a2%83%e8%b7%9f%e5%9b%a2%e6%b8%b8%e6%81%a2%e5%a4%8d-%e9%a6%96%e6%89%b9%e6%97%85%e5%ae%a2-%e4%b8%8b%e5%91%a8%e4%b8%80%e6%8a%b5%e9%a9%ac/ 大妈next week arriving Pav 03/02/2023 10:29 PM speakup Pavilion Bkt Jalil losing a lot of revenue from shoppers parking for free on the main roads instead of paying for parking inside. 05/02/2023 9:05 PM speakup Went there yesterday saw cars park on all the main roads around Pavilion bkt jalil. No clamping? No fines? Nobody will pay for parking inside when they can park for free on the sides of all the main roads surrounding the mall 05/02/2023 9:08 PM SmallSexyPig I don't think a few cars not parking inside is going to affect their bottom line. What an extraordinary statement to make hahahaha. A lot of footfall during the working week. Even if it's mostly for food. Biggest issue is still empty lots. 15/02/2023 10:24 AM speakup Not a few cars. A lot of cars! DBKL should tow or fine those parking freeloaders 15/02/2023 10:58 AM SmallSexyPig it's not going to affect their income that much, maybe a few 1000 only. you think too small minded. 15/02/2023 1:39 PM YelnatS All the share discussion that i went in klse.i3, there are always this one fella that always talk like "speakup" but when the share goes the opposite of what they yapping, then they will be gone and not to be seen. LOL! 15/02/2023 2:11 PM speakup fyi, i do not own any shares in pavreit just becoz i comment on certain shares, doesn't mean i own it 15/02/2023 9:41 PM SmallSexyPig https://open.spotify.com/episode/588ZRF6xi6oJZDpgzNIKes?si=52rSBinSReSPd9VWSbuBpA PAVREIT CEO on BFM this morning. Interesting listen if you have time. 21/02/2023 1:24 PM YelnatS So you're just a keyboard worrior being here to talk c.ock only lah... Go play far far, dun kakaciaociao... 21/02/2023 5:53 PM PassionateInvestor @smallsexypig Thanks for sharing. The conversation was very informative and engaging. It's good to know that the CEO is very much aware of his properties even up to minute details like tenants in his least performing property. Kudos too on improving ESG too by using renewable energy. 22/02/2023 8:15 PM LadyRepins Listening to the BFM podcast reveals not much. Damen remains a works-in-progress, will be a challenge considering the numerous malls in neighbourhood. Yet to be seem how successful their master plan turns out. Potential drag on overall performance. Pavilion Bukit Jalil will also take long gestation period. Gradually opened late 2021. Many shoplots remain not tenanted/opened. Their stated percentage of tenancy seems doubtful, perhaps window-dressing on tenancy percentage given. Noticed several outlets are temporary in nature and also extended outlets from existing tenants. Their management needs to be more forthcoming with details, not convincing thus far. This mall also has quiet periods on weekdays, too quiet. Weekends quite busy, f&b being busiest. Surely outlets will experience lower sales when compare to their flagship malls. Pavilion Bukit Jalil performance remains to be proven. 07/03/2023 6:22 PM M55555 investment banker buy call , but now PP coming 2023 to 2025.. Big amount , long time. ....... 22/03/2023 10:04 PM  | |
