K-Reit, Part The Two

As expected, K-Reit interim result for 1H07 is Outstanding! Here are some extracts:
1. Net Profit soars to $7.6M in 1H07, surpassing 1H06 by 55.8%
2. Distributable Income rises 36.8% to reach $9.8M in 1H07 on higher rental.
3. Prime office rents rose to $10.5psf in 2Q07 from $8.60 in previous quarter and $6.0 a year ago.
4. 70% of K-Reit portfolio’s net lettable area is due for renewal between 2007 and 2010. K-Reit is in a good stead to capitalize on the market upswing.
5. EPS for 1H07 increased 270% to 3.14cents, from 1H06 of 0.85 cents.
6. DPU for 1H07 increased 237% to 3.91cents, from 1H06 of 1.16 cents.
For complete details, pls refer to http://www.sgx.com/

Yes, I know STI down 67.08pts today. K-Reit good result was over shadowed by Govt decision to increase property development tax to 70%. I’ve just this to say: “never sell a stock based on panic, focus on a stock’s fundamental”.

Disclaimer: All shares recommendations in this Blog are my personal opinion. Readers are encouraged to do their own research before investing. Remember, it’s your own money! I will not be liable for any losses incurred.