Dec 22, 2016

Cory Diary : Sabana Reit

The purpose of this article is to share the danger of the stock market. The game is not fair.

Sabana Shari'ah Compliant Industrial Real Estate Investment Trust

(updated for privacy)  It was darling in the market with it's high yield. I even named it as one of my retirement counter. And then when the master lease issue comes in, I found something a miss.

Started with reducing exposure and then a complete cut loss. From the tip of 1.37 top price, my final cut loss is at 1.055. That's - 22% which is a little late but never late than never. The share price continues to slide down to below $0.50. Losses would have ballooned (updated for privacy)  instead of just $1,442. Never look back again. (updated for privacy)

That's the SHARKS in the market retailer have to be aware. The game is not fair and we need to be on constant vigilant of such as it is worst than casino.

Transaction records below.

Date Price Trans Shares Trans Value Comments
28-Dec-12 $1.135 B 30,000 ($34,158)
9-Jan-13 $1.155 B 10,000 ($11,587)
18-Jan-13 $1.160 B 20,000 ($23,274)
23-Jan-13 - D - $1,446 Dividend
1-Apr-13 $1.275 S 20,000 $25,419 Quick trade
23-Apr-13 - D - $964 Dividend
28-May-13 $1.310 B 7,000 ($9,201)
30-May-13 $1.240 B 7,000 ($8,711)
31-May-13 $1.225 B 16,000 ($19,662)
3-Jun-13 $1.215 B 10,000 ($12,189)
14-Jun-13 $1.140 B 5,000 ($5,730)
19-Jun-13 $1.190 S 7,000 $8,299 Quick trade
23-Jul-13 - D - $1,872 Dividend
19-Sep-13 - D - $1,716 Dividend
23-Oct-13 - D - $140 Dividend
22-Nov-13 $1.085 S 28,000 $30,283 Reduce Exposure
27-Nov-13 $1.090 S 10,000 $10,865 Reduce Exposure
23-Jan-14 $1.055 S 40,000 $42,066 Cut Loss
($1,442) Loss include Trans Cost

 Will I trust the management again ? Will you ?

Hard Earn Money leh ...



  1. value trap for sure........

    1. Yes. Is important to count what we have avoided !

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  3. Hi Cory thanks for sharing .

    A lousy business can be a good investment at a right price.

    Terp 0.44
    Right 0.258

    I'm thinking that the price has already corrected to take into account the right and so shouldn't correct ex rights further ( speculation ) and be within 44 cents range.

    Will u be giving it another chance?

    1. Hi Sgdividends, I think not going back for the same mgmt for long time. Basically after the first experience, I feel the mgmt is basically pricing future land price increase to hold up the DPU when renew. This doesn't work.
      And we know what happen to the last GFC on sub-prime logic.

  4. After ex-rights, good chance it goes below terp.

    1. Not sure about speculation on Reit. If I want to try my hand maybe spackman, noble etc :P

  5. Hi Cory

    Wow thats a lot of money into one company there. Good you have the vision and conviction to cut loss and move on. Otherwise the pain will be unbearable now, i think sabana wish they could press the restart.

    1. Yes, need to be laser focus when we start basketing. The stock do not know that our money is hard earn. :)