05 August 2014

ARA Quarterly Report Snapshot - August 2014


INCOME STATEMENT


BALANCE SHEET


CASH FLOW STATEMENT



EPS & NTA/NAV



COMPANY OUTLOOK




DIVIDEND 



My Notes

ARA is one of the companies having a good ROE, largely due to its business model - manager of managers of REITs, hence unlike other REIT manager, it largely depends on its human resources (not displayed in balance sheet) to manage the properties for the REIT managers. With lesser CAPEX requirement due to this unique business model, it is having a healthy free cash flow that can be used for cash dividend distribution or other purposes.

The key issue is the liquidity issue as the average trading volume is not that high for institutional investors. However, I am looking good on this business model, as the company could earn more by getting the private real estate fund listed for higher net income. If you are a passive investors and would like to have good dividend payout, maybe ARA is one of your choices.




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