tag:blogger.com,1999:blog-3008642600708028986.post8469370980120558778..comments2023-09-07T20:42:08.035+08:00Comments on Market Uncle's Blog: First Ship Lease Trust - Some updatesmarket unclehttp://www.blogger.com/profile/16460144334144587714noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3008642600708028986.post-6457028816797079622008-04-28T22:38:00.000+08:002008-04-28T22:38:00.000+08:00Hi Musicwhiz, I fully agree FSLT have very good ...Hi Musicwhiz, <BR/> I fully agree FSLT have very good IR. <BR/><BR/> I do not know whether FSLT is just marketing and hype, but I do know that in order for them to raise equity after their debt-to-equity hit 1X, they would have to push up their unit prices. <BR/><BR/> If they find their current unit prices too low to their liking, they'll have to do all they can to push it up. One way of course is continue improving the DPU for shareholders, another is to continue to market themselves. No point having a good product that nobody knows.<BR/><BR/> Anyway, at our vested prices, I firmly believe we got it at a decent discount.Market Unclehttps://www.blogger.com/profile/13926458268187430049noreply@blogger.comtag:blogger.com,1999:blog-3008642600708028986.post-37107755815479817152008-04-27T23:55:00.000+08:002008-04-27T23:55:00.000+08:00Hi Market Uncle,FSLT has very good IR, that much I...Hi Market Uncle,<BR/><BR/>FSLT has very good IR, that much I can vouch for. I called them up once (the IR) and they took down my name, gave me a personal email address I could email to and even put me on their mailing list for FSLT related news.<BR/><BR/>When I asked a few questions on the Trust, the IR person was polite enough to even attempt to arrange for a meeting with the CEO or Director ! According to them, the Management is very willing to explain to unit holders who may have any doubts on the structure and function of the Trust, and they are going all out to clear doubts. Even during the AGM, the CEO and CFO stayed behind nearly an hour taking various questions from shareholders.<BR/><BR/>I have seen some forum comments saying that FSLT's IR is "glossy" and that sharp investors can "see through" their marketing and hype and that the Trust is really just a mediocre investment. While I cannot directly dispute their opinions, all I can say is that Management is aligning their interests with unit-holders (they get paid higher fees if DPU is higher) and so it's a win-win situation.<BR/><BR/>As to whether yield compression will eventually occur, that's up to Mr. Market to decide.<BR/><BR/>Thanks for the post, and cheers.<BR/><BR/>Regards,<BR/>MusicwhizMusicwhizhttps://www.blogger.com/profile/10950754156386935254noreply@blogger.com