A reader pointed out that my figures for Frasers Commercial Trust does not make sense.
So I updated the Balance Sheet data with the latest third quarter data.
I think the problem is that I use DBS Clarity’s data and the number of outstanding shares stands at 1 billion when the number of units is suppose to be 3 billion.
I was still not able to hit the yield the reader pointed to. but my calculation for the Price to Book ratio is based pm Market Cap /(Total Asset – Long term debt and current liabilities)
Still Frasers Commercial Trust proves to be a risky investment. I was vested in this since it was at $1.06. I have probably lost 90% of my money on this investment and this investment drove home the point of existential risk in investing.
Operational risk we can still take but it is risk like this that will spark a sell of in the stock.
Fraser’s long term debt over asset stands at 41% and at a yield of 7%, there has to be much better investments such as K Green Trust, First REIT or Cache.
Yield is not everything and it is better to invest in a REIT that is sustainable, good management and conservative.
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