I took some more look at the returns of the assets of the concessions under K-Green trust as a follow-up to my previous K-Green Post to accumulate more shares.
The returns on second looks very bad.
From this table we approximate based on 2011 dividends per share. On current yield its 6.98%. That looks good.
However, the yields over the concession years looks like those of SGS bonds.
The yield on Senoko is 2.883% and the yield on NEWater looks close to 0.971%!
If we factor in an inflation growth of 3%, the yield goes up to 3.4%, 2.57% and 1.21%.
Even then, a total return after god know, 25 years its 24% or 65% looks really medicore.
Now this is on top of the NAV going down to zero. All in all this is starting to look like a very bad proposition.
I am gonna seriously evaluate my investments. I have sent some enquiries to K-Green. lets see how responsive their investor relations is.
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