Fraser Logistics and Commercial Trust(BUOU) - FY23 Result Analysis

Fraser Logistics and Commercial Trust(BUOU) has been performing well in keeping up revenue and low leverage ratio making it one of the safest and best performing reit. However, the dividends are still dropping which is reflected in the share price due to one major reason which is foreign currency risk. With the refinancing required, there might be a risk that dividend will drop further.
0:00 Introduction
0:39 Portfolio
1:43 Key Highlights
3:21 Earnings
5:08 Debt Profile
6:50 Properties Valuation/Leasings
8:25 Conclusion
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This video is for entertainment and educational purposes. Everything is based on my opinion and would definitely recommend become to do their own research before making any investment decisions
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[@InvestingWithBen]

For those interested in the text version: :)
www.investmentwithben.com/post/transforming-supply-chain-management-with-fraser-logistics-and-commercial-trust-fy2023-review
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[@onreat]

What an excellent analysis - professionally informed and highly objective.

[@InvestingWithBen]

Thanks for the compliment! 🙏 Really grateful it helps.

[@stanleyfong5296]

Thank you Ben for the review as I’ve a portion of this reit in my portfolio 😊

[@InvestingWithBen]

Thanks! Hope you like it! 👍 Will do more if you like. I definitely like the reit with the amazing performances and management. Just need the foreign currency to stop weakening or sgd to stop strengthening first 😂

[@stanleyfong5296]

@@InvestingWithBen That’s why I think we should look at those REITs that has some local assets too. 😊 Currently I have a tiny portion of OUE comm REIT, maybe you can help review it? 🙏🏻

[@InvestingWithBen]

@stanleyfong5296 Sure will look into it! 👍
Yup I also agree those Reits with local assets are good as Singapore environment is different from overseas environment

[@kennychia7277]

Looking at the 10 year trend of AUD vs SGD, AUD has been dropping quite alot, from 1.12 AUD to 0.9. If we as investors are living in Singapore and spending in SGD, I don't see the point in investing in REITs with mostly Australian assets.

[@InvestingWithBen]

Honestly currency is quite hard to predict. But previously Australia had some conflict with China resulting in a weakening economy(if you notice alot of australia wine here is cheap).
However recently they seem to have shifted their approach as they depend alot on China on the economy too. Hopefully it will help in the long term :)

[@stanleyfong5296]

@@InvestingWithBen yes, going against China for whatever reasons is also going against their very own pocket! 😅

[@InvestingWithBen]

Yep now they seem to be doing the right action so we’ll see how it proceeds with this Australia government

[@amylim3987]

P​@@InvestingWithBen

[@billycaymann]

Ben, Why do some reits have dual currency on sgx ? Any difference and as investor which do we buy better ?

[@InvestingWithBen]

I think most of the foreign-focussed reits are majority price in overseas currency. Usually it is better for their finance management(thats my assumption).
In terms of shareholdings, when investing in foreign Reits, there is an additional risk which is foreign currency risk.
When you buy through a broker, there will be a conversion rate based on the brokers and sometimes might be slightly expensive compared to google exchange rate. This is extra cost that you need to account for.
Of course on the bright side, overseas reits sometimes gives better returns as they are priced riskier(higher dividend yield) by many investors. You can see my previous video on US Office reits. In this environment it definitely provides good opportunity to buy the right reits with good returns 👍
With regard to which to buy it depends on what is your risk appetite . If you are confident with the reit it doesn’t matter what you choose. Most importantly is to buy the right reit 👍

[@REIT-TIREMENT]

Would be good if you can have weekly or bi-weekly REIT videos.

[@InvestingWithBen]

Hi Vince! Would definitely try to be more consistent! Thanks for the motivation 👍