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Emirates REIT CEIC Ltd (REIT)

Dubai
Currency in USD
Disclaimer
0.202
0.000(0.00%)
Closed

REIT Comments

Incompitent management takes care of their own salaries and other perks. They do not bother about share holders at all. The business model for REIT has been faulty since beginning. They were paying dividends out of the borrowed money. Assumed appreciation of assets prices have been shown as income. The financial authorities need to take action against the management to save the share holders.
This stock is being exploited by the REIT manager in the ugliest way. The stock will always be worthless because there will be nothing left after the finance costs REIT manager fee. So basically the shareholders are decoration to be exploited. And if the results get better REIT manager will simply inflate gross assets and take more fees and take more loans. Also REIT managers performce is extremley bad more than 50% of inventory is sitting empty and they have the audacity to keep taking very large fees. Major corrruption sad for the shareholders that loat so much money on this stock
They just lost a case in court for the anomalies in trading earlier in the year. The incompitsnt reit manager went to the questioning session unprepared as per the court neratitive! Search them on Twitter it is an Intresting read.
This is a real value destruction. Management and Board should provide guidance in terms of ability to service debt obligations and ability to distribute dividends in the coming years. Thats all it takes!
With the current share price it is unlikely anyone would lend them money. So they will have to stop paying dividends and maybe sell some assets to service dept. The main problem is the reit manager pay which is huge and is impacting the performance badly. But obviously since he is getting paid hansomly he doesn't care, all he is worried about is how keep his job basicly.
They didn't pay their dividends in Jan 2020. I'm out.
Where can i find theajority share holders of this company?
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