A QUICK UPDATE ON S-REITS : SABANA SUKUK
Someone pointed out to me this morning that Sabana Sukuk has taken a beating lately and I decided to pull out the old Reit spreadsheet to take a look at their performances on the year.
He is right !
Sabana is the worst performer over the past 12 months despite not having a single ship or oil well to their name !
And this is how Sabana looks on its own.
A pretty big capitulating drop in the past 4 days after an analyst briefing with their results announcement on 21 April where profits have halved and the company cited some difficulties in renewing more than half their master leases.
Bond prices still unchanged.
SABANA 4.25% 04/2019 100.15/100.65 4.21/4.07%
SABANA 4% 03/2018 100.05/100.45 3.98/3.83%
How now, brown cow ?