Profile - To The Moon

Lemoonbear

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- LemoonbearLemoonbear
  ·11-12
  $Wilmar Intl(F34.SI)$
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- LemoonbearLemoonbear
  ·2023-11-13
  All in for Palantir? Hmmm... its indeed indeed good stock to watch
  Palantir: I'm Going All In
  Palantir's shares have rallied due to better-than-expected Q3 performance and positive guidance for Q4.The launch of Palantir's generative AI platform has generated significant interest and attracted
  Palantir: I'm Going All In
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- LemoonbearLemoonbear
  ·2022-12-02
  Awesome
  4 Singapore REITs You Can Count on for Dividends
  Here are four REITs that you can rely on to pay out steady distributions.Many investors value certai
  4 Singapore REITs You Can Count on for Dividends
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- LemoonbearLemoonbear
  ·2022-12-01
  $McDonald's(MCD)$ While you still can
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- LemoonbearLemoonbear
  ·2022-11-30
  Read
  "Who Can Turn off the Websites?": Inside Bankman-Fried’s Chaotic Final Days in Charge of FTX
  When the cryptocurrency exchange FTX filed for bankruptcy on November 11, the company’s founder, Sam
  "Who Can Turn off the Websites?": Inside Bankman-Fried’s Chaotic Final Days in Charge of FTX
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- LemoonbearLemoonbear
  ·2022-11-30
  $Apple(AAPL)$ Definitely. Apple's position in the tech sector has been unwaveringly strong. Given its unique iOS and usability, Apple's fanbase will be a strong foundation. Apple will have to find ways to reward and attract loyal and new users into it's ecosystem.
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href=\"https://ttm.financial/S/F34.SI\">$Wilmar Intl(F34.SI)$&nbsp;</a><v-v data-views=\"0\"></v-v>&nbsp;","listText":"<a href=\"https://ttm.financial/S/F34.SI\">$Wilmar Intl(F34.SI)$&nbsp;</a><v-v data-views=\"0\"></v-v>&nbsp;","text":"$Wilmar Intl(F34.SI)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/369948006707424","isVote":1,"tweetType":1,"viewCount":158,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":240924452905080,"gmtCreate":1699838545550,"gmtModify":1699838549895,"author":{"id":"4111746275389002","authorId":"4111746275389002","name":"Lemoonbear","avatar":"https://community-static.tradeup.com/news/974e125938d17fa26a87f1c889a7a142","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4111746275389002","authorIdStr":"4111746275389002"},"themes":[],"htmlText":"All in for Palantir? Hmmm... its indeed indeed good stock to watch","listText":"All in for Palantir? Hmmm... its indeed indeed good stock to watch","text":"All in for Palantir? Hmmm... its indeed indeed good stock to watch","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/240924452905080","repostId":"2383250087","repostType":2,"repost":{"id":"2383250087","kind":"highlight","pubTimestamp":1699836484,"share":"https://ttm.financial/m/news/2383250087?lang=&edition=fundamental","pubTime":"2023-11-13 08:48","market":"us","language":"en","title":"Palantir: I'm Going All In","url":"https://stock-news.laohu8.com/highlight/detail?id=2383250087","media":"Seekingalpha","summary":"Palantir's shares have rallied due to better-than-expected Q3 performance and positive guidance for Q4.The launch of Palantir's generative AI platform has generated significant interest and attracted ","content":"<html><head></head><body><ul style=\"\"><li><p>Palantir&#39;s shares have rallied due to better-than-expected Q3 performance and positive guidance for Q4.</p></li><li><p>The launch of Palantir&#39;s generative AI platform has generated significant interest and attracted major clients.</p></li><li><p>The company&#39;s growth opportunities in the government and commercial sectors are expected to outweigh valuation concerns.</p></li></ul><p>Palantir’s shares have rallied in recent weeks as the better-than-expected performance in Q3 and better guidance for Q4 made the market excited about the company’s growth prospects. The company’s shares are now up ~30% since the publication of my latest article on Palantir in late September, and I still believe that the business’s growth story is far from over. Even though Palantir now trades at multiples that are significantly greater in comparison to the average market multiples, there are reasons to believe that the growth opportunities will continue to outweigh the valuation concerns in the following quarters and help the shares keep their momentum. That’s why I’m still holding my long position in the company and have no plans to unwind it anytime soon.</p><h2 id=\"id_3571234717\">All Eyes On AI</h2><p>Earlier this month Palantir revealed its Q3 earnings report which showed that the company’s revenues during the period increased by 16.8% Y/Y to $558 million, above the estimates by $2.08 million, while its non-GAAP EPS stood at $0.07, also above the estimates by $0.01. The company has also generated $133 million in cash from operations and ended the quarter with $3.3 billion in cash reserves, which is a major increase from $2.5 billion a year ago.</p><p>Such a great performance helped the stock appreciate to the 52-week high levels and there are reasons to believe that the shares could retain their momentum in the future as everything points out to the fact that Palantir’s growth story is far from over.</p><p>With the launch of its generative AI platform AIP earlier this year, Palantir was able to generate an impressive interest in the platform and attracted almost 300 major clients who are now using it. As we enter the new age of AI, it appears that Palantir has a major advantage over its peers in the government and commercial sectors.</p><p>The AI is already changing the nature of warfare and Palantir is currently learning about how AIP could be efficiently used on the battlefield by deploying it in Ukraine. Back in June, I wrote an article about Palantir’s operations in my home country of Ukraine and noted how the company uses the current war to test its software directly on the battlefield. After that, a few weeks ago Ukraine’s Minister of Digital Transformation revealed that Palantir’s AIP platform is being used as one of the primary generative AI tools to help the government learn about how many mined areas there currently are and how long will it take to demine them. The minister notes that such a task would’ve taken data analysts days and shows on the video that AIP could do it in a few moments. He also states that the system is constantly being improved with the help of new data and more real use cases will be revealed later.</p><p>This example shows that AI is indeed changing warfare and Palantir appears to be at the forefront of learning about all the changes to ensure that AIP and its other platforms have an edge against other competitors. That’s why even though the company’s government revenues increased by 12% Y/Y in Q3 to $308 million, there are reasons to believe that the growth will accelerate once the adoption of generative AI tools among government agencies increases over time.</p><p>At the same time, a similar thing could also be said about the commercial sector, which is interested in using generative AI tools to better optimize its own operations. The use of generative AI tools has surged in recent months and such a growth has been reflected in Palantir’s financials. In Q3, its commercial revenues increased by 23% Y/Y to $251 million, while its US commercial customer count increased by 37% Y/Y. The company is now on track to conduct AIP Bootcamps for over 140 organizations by the end of this month, as the interest in different AI tools is unlikely to decrease anytime soon.</p><h2 id=\"id_2766984226\">The Valuation Dilemma</h2><p>Given all of those growth opportunities, there’s no denying that Palantir’s business is likely to continue to generate aggressive double-digit returns in the following years especially since it appears that it has a moat against others in the generative AI space. The only question at this stage is whether its shares will be able to continue to appreciate further in the next few quarters.</p><p>My optimistic DCF model that was published in September showed that Palantir’s fair value is $16.05 per share, which is already below the current market price. However, it’s important to understand that Palantir never truly traded at its fair value, but it didn’t stop its shares from appreciating further as the market backed its growth story and helped to propel the shares higher. As we enter the new of AI, Palantir is looking to become one of the most important companies in the field, which could more than justify its premium valuation at the moment.</p><p>If we look at Seeking Alpha’s Quant system, we’ll see that Palantir has a grade of ‘D-‘ for valuation, but on all the other metrics it has a score of ‘B+’ and higher. This indicates that the company’s current valuation is indeed the only main concern when deciding whether to invest in the company. Despite this concern, I believe that the company would be able to keep the momentum going in the following quarters, which could help Palantir’s shares to grow as was the case in the past.</p><p>Let’s not forget that the latest increase of revenue guidance for FY23 to between $2.216 - $2.220 billion, above the previous consensus of $2.21 billion, indicates that the company is likely once again generate strong returns in Q4 which could result in another round of stock appreciation as was the case in recent weeks. At the same time, a spike in upward revisions by the street along with a price target of $25 per share by some major firms shows that Palantir is likely to retain its momentum for the next few months at the very least.</p><p>That’s why as the AI adoption enters a new stage, I decided to stick with my investment in the company and not unwind Palantir from my portfolio. The upcoming S&amp;P 500 inclusion, the signing of new contracts, and the realization of all the growth opportunities at a limited cost are likely to continue to outweigh the valuation concerns in the following quarters.</p><h2 id=\"id_3799474467\">The Bottom Line</h2><p>There are reasons to believe that the growth opportunities will continue to outweigh the valuation and other concerns, which should help Palantir’s shares retain their momentum. That’s the main reason why I decided to continue to hold my long position without any plans to unwind it anytime soon as the growth story appears to be far from over.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Palantir: I'm Going All In</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPalantir: I'm Going All In\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-11-13 08:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4650904-palantir-im-going-all-in><strong>Seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Palantir's shares have rallied due to better-than-expected Q3 performance and positive guidance for Q4.The launch of Palantir's generative AI platform has generated significant interest and attracted ...</p>\n\n<a href=\"https://seekingalpha.com/article/4650904-palantir-im-going-all-in\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"source_url":"https://seekingalpha.com/article/4650904-palantir-im-going-all-in","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2383250087","content_text":"Palantir's shares have rallied due to better-than-expected Q3 performance and positive guidance for Q4.The launch of Palantir's generative AI platform has generated significant interest and attracted major clients.The company's growth opportunities in the government and commercial sectors are expected to outweigh valuation concerns.Palantir’s shares have rallied in recent weeks as the better-than-expected performance in Q3 and better guidance for Q4 made the market excited about the company’s growth prospects. The company’s shares are now up ~30% since the publication of my latest article on Palantir in late September, and I still believe that the business’s growth story is far from over. Even though Palantir now trades at multiples that are significantly greater in comparison to the average market multiples, there are reasons to believe that the growth opportunities will continue to outweigh the valuation concerns in the following quarters and help the shares keep their momentum. That’s why I’m still holding my long position in the company and have no plans to unwind it anytime soon.All Eyes On AIEarlier this month Palantir revealed its Q3 earnings report which showed that the company’s revenues during the period increased by 16.8% Y/Y to $558 million, above the estimates by $2.08 million, while its non-GAAP EPS stood at $0.07, also above the estimates by $0.01. The company has also generated $133 million in cash from operations and ended the quarter with $3.3 billion in cash reserves, which is a major increase from $2.5 billion a year ago.Such a great performance helped the stock appreciate to the 52-week high levels and there are reasons to believe that the shares could retain their momentum in the future as everything points out to the fact that Palantir’s growth story is far from over.With the launch of its generative AI platform AIP earlier this year, Palantir was able to generate an impressive interest in the platform and attracted almost 300 major clients who are now using it. As we enter the new age of AI, it appears that Palantir has a major advantage over its peers in the government and commercial sectors.The AI is already changing the nature of warfare and Palantir is currently learning about how AIP could be efficiently used on the battlefield by deploying it in Ukraine. Back in June, I wrote an article about Palantir’s operations in my home country of Ukraine and noted how the company uses the current war to test its software directly on the battlefield. After that, a few weeks ago Ukraine’s Minister of Digital Transformation revealed that Palantir’s AIP platform is being used as one of the primary generative AI tools to help the government learn about how many mined areas there currently are and how long will it take to demine them. The minister notes that such a task would’ve taken data analysts days and shows on the video that AIP could do it in a few moments. He also states that the system is constantly being improved with the help of new data and more real use cases will be revealed later.This example shows that AI is indeed changing warfare and Palantir appears to be at the forefront of learning about all the changes to ensure that AIP and its other platforms have an edge against other competitors. That’s why even though the company’s government revenues increased by 12% Y/Y in Q3 to $308 million, there are reasons to believe that the growth will accelerate once the adoption of generative AI tools among government agencies increases over time.At the same time, a similar thing could also be said about the commercial sector, which is interested in using generative AI tools to better optimize its own operations. The use of generative AI tools has surged in recent months and such a growth has been reflected in Palantir’s financials. In Q3, its commercial revenues increased by 23% Y/Y to $251 million, while its US commercial customer count increased by 37% Y/Y. The company is now on track to conduct AIP Bootcamps for over 140 organizations by the end of this month, as the interest in different AI tools is unlikely to decrease anytime soon.The Valuation DilemmaGiven all of those growth opportunities, there’s no denying that Palantir’s business is likely to continue to generate aggressive double-digit returns in the following years especially since it appears that it has a moat against others in the generative AI space. The only question at this stage is whether its shares will be able to continue to appreciate further in the next few quarters.My optimistic DCF model that was published in September showed that Palantir’s fair value is $16.05 per share, which is already below the current market price. However, it’s important to understand that Palantir never truly traded at its fair value, but it didn’t stop its shares from appreciating further as the market backed its growth story and helped to propel the shares higher. As we enter the new of AI, Palantir is looking to become one of the most important companies in the field, which could more than justify its premium valuation at the moment.If we look at Seeking Alpha’s Quant system, we’ll see that Palantir has a grade of ‘D-‘ for valuation, but on all the other metrics it has a score of ‘B+’ and higher. This indicates that the company’s current valuation is indeed the only main concern when deciding whether to invest in the company. Despite this concern, I believe that the company would be able to keep the momentum going in the following quarters, which could help Palantir’s shares to grow as was the case in the past.Let’s not forget that the latest increase of revenue guidance for FY23 to between $2.216 - $2.220 billion, above the previous consensus of $2.21 billion, indicates that the company is likely once again generate strong returns in Q4 which could result in another round of stock appreciation as was the case in recent weeks. At the same time, a spike in upward revisions by the street along with a price target of $25 per share by some major firms shows that Palantir is likely to retain its momentum for the next few months at the very least.That’s why as the AI adoption enters a new stage, I decided to stick with my investment in the company and not unwind Palantir from my portfolio. The upcoming S&P 500 inclusion, the signing of new contracts, and the realization of all the growth opportunities at a limited cost are likely to continue to outweigh the valuation concerns in the following quarters.The Bottom LineThere are reasons to believe that the growth opportunities will continue to outweigh the valuation and other concerns, which should help Palantir’s shares retain their momentum. That’s the main reason why I decided to continue to hold my long position without any plans to unwind it anytime soon as the growth story appears to be far from over.","news_type":1},"isVote":1,"tweetType":1,"viewCount":271,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9965629861,"gmtCreate":1669946810853,"gmtModify":1676538275658,"author":{"id":"4111746275389002","authorId":"4111746275389002","name":"Lemoonbear","avatar":"https://community-static.tradeup.com/news/974e125938d17fa26a87f1c889a7a142","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4111746275389002","authorIdStr":"4111746275389002"},"themes":[],"htmlText":"Awesome&nbsp;","listText":"Awesome&nbsp;","text":"Awesome","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9965629861","repostId":"1112030503","repostType":2,"repost":{"id":"1112030503","kind":"news","pubTimestamp":1669945297,"share":"https://ttm.financial/m/news/1112030503?lang=&edition=fundamental","pubTime":"2022-12-02 09:41","market":"sg","language":"en","title":"4 Singapore REITs You Can Count on for Dividends","url":"https://stock-news.laohu8.com/highlight/detail?id=1112030503","media":"The Smart Investor","summary":"Here are four REITs that you can rely on to pay out steady distributions.Many investors value certai","content":"<html><head></head><body><p>Here are four REITs that you can rely on to pay out steady distributions.</p><p><img src=\"https://static.tigerbbs.com/eab8aa946575cbd62c9fc02194e91a18\" tg-width=\"800\" tg-height=\"533\" width=\"100%\" height=\"auto\"/></p><p>Many investors value certainty and peace of mind when allocating their money to stocks.</p><p>Growth stocks are inherently riskier and may not offer a sufficient margin of safety for conservative investors.</p><p>REITs, on the other hand, are well-liked by prudent investors for their dependability and ability to churn out a passive stream of dividend income.</p><p>But as with any asset class, you must select the quality, well-managed REITs that can boast reliable distributions over the long term.</p><p>As the world grapples with high inflation and surging interest rates, it’s useful to search for an oasis of calm amid the storm.</p><p>We feature four REITs that you can depend on to continue paying out healthy distributions despite the challenges.</p><p><b>Mapletree Industrial Trust (SGX: ME8U)</b></p><p>Mapletree Industrial Trust, or MIT, is an industrial REIT that owns 141 properties with an asset under management of S$8.9 billion as of 30 September 2022.</p><p>These properties include a mix of flatted factories, hi-tech buildings, and data centres spread out across Singapore and the US.</p><p>MIT has demonstrated tremendous growth since its fiscal 2011 (FY2011) ending 31 March 2011.</p><p>The REIT started with an AUM of S$2.2 billion back then and has more than quadrupled it in more than a decade.</p><p>For its fiscal 2023’s second quarter (2Q2023), the industrial REIT saw distributable income inch up 0.7% year on year to S$89 million.</p><p>Distribution per unit (DPU), however, dipped by 3.2% year on year to S$0.0336 due to higher operating expenses and borrowing costs.</p><p>Despite this, MIT maintained a high portfolio occupancy of 95.6% with nearly three-quarters of its loans hedged to fixed rates.</p><p>The REIT has promised to release S$6.6 million of tax-exempt income over three quarters to mitigate the fall in DPU.</p><p>MIT’s redevelopment project at Kolam Ayer 2 should start contributing rental income after its full completion by the second half of 2023.</p><p><b>Parkway Life REIT (SGX: C2PU)</b></p><p>Parkway Life REIT, or PLife REIT, is one of the largest healthcare REITs in Asia with a portfolio worth S$2.4 billion as of 30 September 2022.</p><p>The healthcare REIT owns a total of 61 properties across Singapore, Japan and Malaysia.</p><p>PLife REIT boasts an uninterrupted increase in its core DPU since FY2008, going from S$0.0683 per unit to S$0.1408 by FY2021.</p><p>For the first nine months of 2022 (9M2022), gross revenue saw a 1.3% year on year dip to S$89 million.</p><p>Net property income (NPI), however, inched up 0.1% year on year to S$82.8 million.</p><p>PLife REIT’s gearing stood at just 34.7%, giving the REIT ample debt headroom of S$706.7 million before hitting the 50% leverage threshold.</p><p>After signing a new master lease agreement for its Singapore hospitals last year, PLife REIT recently announced the commencement of renewal capex works at Mount Elizabeth that will be completed by December 2025.</p><p><b>Keppel DC REIT (SGX: AJBU)</b></p><p>Keppel DC REIT owns a portfolio of 23 data centres spread across nine countries with an AUM of S$3.6 billion as of 30 September 2022.</p><p>The REIT has conducted several acquisitions in the past year that have helped to boost its DPU.</p><p>Last December, it acquired its second data centre in London for around S$105.5 million. This property sits on freehold land and is DPU-accretive.</p><p>Then earlier in June, Keppel DC REIT scooped up two data centres in Guangdong, China, for approximately S$297.1 million.</p><p>This acquisition should grow DPU by 2.7% and improve portfolio occupancy further to 98.9%.</p><p>The data centre REIT achieved a commendable performance for 9M2022.</p><p>Gross revenue edged up 0.7% year on year to S$205.9 million while distributable income climbed 8.5% year on year to S$138.1 million.</p><p>DPU increased by 3.4% year on year to S$0.07634.</p><p><b>CapitaLand Integrated Commercial Trust (SGX: C38U)</b></p><p>CapitaLand Integrated Commercial Trust, or CICT, is a retail cum commercial REIT with a total property value of S$24.2 billion as of 31 December 2021.</p><p>The REIT owns 21 properties in Singapore, two in Frankfurt, and three in Sydney.</p><p>CICT released a robust set of numbers for its latest fiscal 2022’s third quarter (3Q2022) business update.</p><p>Gross revenue for 9M2022 rose 8.9% year on year to S$1.1 billion while NPI increased by 8.4% year on year to S$775 million.</p><p>CICT also has a strong sponsor in real estate giant <b>CapitaLand Investment Limited</b> (SGX: 9CI).</p><p>Investors should feel assured that no single tenant contributes more than 5.1% of the REIT’s gross rental income.</p><p>Elsewhere, CICT also has 80% of its total borrowings on fixed rates, thereby mitigating a sharp rise in finance costs that may eat into its distributable income.</p></body></html>","source":"lsy1602567310727","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>4 Singapore REITs You Can Count on for Dividends</title>\n<style 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}\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n4 Singapore REITs You Can Count on for Dividends\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-02 09:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thesmartinvestor.com.sg/4-singapore-reits-you-can-count-on-for-dividends/><strong>The Smart Investor</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Here are four REITs that you can rely on to pay out steady distributions.Many investors value certainty and peace of mind when allocating their money to stocks.Growth stocks are inherently riskier and...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/4-singapore-reits-you-can-count-on-for-dividends/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"C2PU.SI":"百汇生命产业信托","C38U.SI":"凯德商用新加坡信托","ME8U.SI":"丰树工业信托","AJBU.SI":"吉宝数据中心房地产信托"},"source_url":"https://thesmartinvestor.com.sg/4-singapore-reits-you-can-count-on-for-dividends/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112030503","content_text":"Here are four REITs that you can rely on to pay out steady distributions.Many investors value certainty and peace of mind when allocating their money to stocks.Growth stocks are inherently riskier and may not offer a sufficient margin of safety for conservative investors.REITs, on the other hand, are well-liked by prudent investors for their dependability and ability to churn out a passive stream of dividend income.But as with any asset class, you must select the quality, well-managed REITs that can boast reliable distributions over the long term.As the world grapples with high inflation and surging interest rates, it’s useful to search for an oasis of calm amid the storm.We feature four REITs that you can depend on to continue paying out healthy distributions despite the challenges.Mapletree Industrial Trust (SGX: ME8U)Mapletree Industrial Trust, or MIT, is an industrial REIT that owns 141 properties with an asset under management of S$8.9 billion as of 30 September 2022.These properties include a mix of flatted factories, hi-tech buildings, and data centres spread out across Singapore and the US.MIT has demonstrated tremendous growth since its fiscal 2011 (FY2011) ending 31 March 2011.The REIT started with an AUM of S$2.2 billion back then and has more than quadrupled it in more than a decade.For its fiscal 2023’s second quarter (2Q2023), the industrial REIT saw distributable income inch up 0.7% year on year to S$89 million.Distribution per unit (DPU), however, dipped by 3.2% year on year to S$0.0336 due to higher operating expenses and borrowing costs.Despite this, MIT maintained a high portfolio occupancy of 95.6% with nearly three-quarters of its loans hedged to fixed rates.The REIT has promised to release S$6.6 million of tax-exempt income over three quarters to mitigate the fall in DPU.MIT’s redevelopment project at Kolam Ayer 2 should start contributing rental income after its full completion by the second half of 2023.Parkway Life REIT (SGX: C2PU)Parkway Life REIT, or PLife REIT, is one of the largest healthcare REITs in Asia with a portfolio worth S$2.4 billion as of 30 September 2022.The healthcare REIT owns a total of 61 properties across Singapore, Japan and Malaysia.PLife REIT boasts an uninterrupted increase in its core DPU since FY2008, going from S$0.0683 per unit to S$0.1408 by FY2021.For the first nine months of 2022 (9M2022), gross revenue saw a 1.3% year on year dip to S$89 million.Net property income (NPI), however, inched up 0.1% year on year to S$82.8 million.PLife REIT’s gearing stood at just 34.7%, giving the REIT ample debt headroom of S$706.7 million before hitting the 50% leverage threshold.After signing a new master lease agreement for its Singapore hospitals last year, PLife REIT recently announced the commencement of renewal capex works at Mount Elizabeth that will be completed by December 2025.Keppel DC REIT (SGX: AJBU)Keppel DC REIT owns a portfolio of 23 data centres spread across nine countries with an AUM of S$3.6 billion as of 30 September 2022.The REIT has conducted several acquisitions in the past year that have helped to boost its DPU.Last December, it acquired its second data centre in London for around S$105.5 million. This property sits on freehold land and is DPU-accretive.Then earlier in June, Keppel DC REIT scooped up two data centres in Guangdong, China, for approximately S$297.1 million.This acquisition should grow DPU by 2.7% and improve portfolio occupancy further to 98.9%.The data centre REIT achieved a commendable performance for 9M2022.Gross revenue edged up 0.7% year on year to S$205.9 million while distributable income climbed 8.5% year on year to S$138.1 million.DPU increased by 3.4% year on year to S$0.07634.CapitaLand Integrated Commercial Trust (SGX: C38U)CapitaLand Integrated Commercial Trust, or CICT, is a retail cum commercial REIT with a total property value of S$24.2 billion as of 31 December 2021.The REIT owns 21 properties in Singapore, two in Frankfurt, and three in Sydney.CICT released a robust set of numbers for its latest fiscal 2022’s third quarter (3Q2022) business update.Gross revenue for 9M2022 rose 8.9% year on year to S$1.1 billion while NPI increased by 8.4% year on year to S$775 million.CICT also has a strong sponsor in real estate giant CapitaLand Investment Limited (SGX: 9CI).Investors should feel assured that no single tenant contributes more than 5.1% of the REIT’s gross rental income.Elsewhere, CICT also has 80% of its total borrowings on fixed rates, thereby mitigating a sharp rise in finance costs that may eat into its distributable income.","news_type":1},"isVote":1,"tweetType":1,"viewCount":403,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9962702271,"gmtCreate":1669844080393,"gmtModify":1676538253414,"author":{"id":"4111746275389002","authorId":"4111746275389002","name":"Lemoonbear","avatar":"https://community-static.tradeup.com/news/974e125938d17fa26a87f1c889a7a142","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4111746275389002","authorIdStr":"4111746275389002"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/MCD\">$McDonald's(MCD)$&nbsp;</a>While you still can","listText":"<a href=\"https://ttm.financial/S/MCD\">$McDonald's(MCD)$&nbsp;</a>While you still can","text":"$McDonald's(MCD)$ While you still can","images":[{"img":"https://community-static.tradeup.com/news/baf7ec81414be533aa9c3ea4fc38fb2c","width":"1125","height":"2000"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9962702271","isVote":1,"tweetType":1,"viewCount":550,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9962644733,"gmtCreate":1669773872823,"gmtModify":1676538240367,"author":{"id":"4111746275389002","authorId":"4111746275389002","name":"Lemoonbear","avatar":"https://community-static.tradeup.com/news/974e125938d17fa26a87f1c889a7a142","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4111746275389002","authorIdStr":"4111746275389002"},"themes":[],"htmlText":"Read","listText":"Read","text":"Read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9962644733","repostId":"2287859746","repostType":4,"repost":{"id":"2287859746","kind":"highlight","pubTimestamp":1669768217,"share":"https://ttm.financial/m/news/2287859746?lang=&edition=fundamental","pubTime":"2022-11-30 08:30","market":"us","language":"en","title":"\"Who Can Turn off the Websites?\": Inside Bankman-Fried’s Chaotic Final Days in Charge of FTX","url":"https://stock-news.laohu8.com/highlight/detail?id=2287859746","media":"The Sydney Morning Herald","summary":"When the cryptocurrency exchange FTX filed for bankruptcy on November 11, the company’s founder, Sam","content":"<html><head></head><body><p>When the cryptocurrency exchange FTX filed for bankruptcy on November 11, the company’s founder, Sam Bankman-Fried, announced the news in a contrite message on Twitter.</p><p>But his attempt to calm the situation belied what had just taken place within the company. As the crisis unfolded, a group of FTX lawyers and executives moved to strip authority from Bankman-Fried and urged the company’s top leaders to prepare for bankruptcy. For days, Bankman-Fried ignored their warnings and clung to power, seemingly convinced that he could save the firm, despite mounting evidence to the contrary.</p><p><img src=\"https://static.tigerbbs.com/7817164bdd32445ac4f1e4197abf2ee9\" tg-width=\"584\" tg-height=\"389\" referrerpolicy=\"no-referrer\"/></p><p>Before his empire fell, FTX founder Sam Bankman-Fried had agreed to several deals that are now in limbo, including the purchase of Voyager.Credit:Bloomberg</p><p>“The exchanges must be halted immediately,” Ryne Miller, a top FTX lawyer, wrote in an email to Bankman-Fried and other staff November 10. “The founding team is not currently in a cooperative posture.”</p><p>Bankman-Fried eventually relented, stepping down as FTX’s chief executive and authorising the company to file for bankruptcy. Dozens of pages of internal company emails and texts obtained by <i>The New York Times</i> offer a detailed look at those chaotic final days, as messages flew back and forth among FTX officials who seemed to be growing increasingly irritated with the 30-year-old founder.</p><p>Throughout, Bankman-Fried appeared deluded about FTX’s prospects, insisting that he could find a way to keep the company running, the documents show. A day before the bankruptcy filing, he told employees that he was trying to raise new funding, and as recently as last week he said he regretted authorising the bankruptcy.</p><p>The messages reviewed by <i>The Times</i> and interviews with insiders show how a small group of lawyers and executives struggled to get through to Bankman-Fried, even appealing to his father as they pressed their case. While Bankman-Fried was scrambling to line up investors, Miller sent a text to top staff describing the prospect of a fundraise as “0% likelihood.”</p><p>The push and pull continued into the early hours of November 11, when Miller sent a series of messages urging Bankman-Fried to sign papers so the company could file for bankruptcy.</p><p>“Please can you sign the document,” he wrote at 2:29 a.m.</p><p>FTX’s implosion has set off one of the worst upheavals in the history of crypto. Until this month, Bankman-Fried was regarded as one of the few trustworthy figures in a freewheeling, loosely regulated industry. He built a business empire, invested in smaller crypto firms and lobbied aggressively in Washington.</p><p>Now his actions are devastating the industry. Hundreds of thousands of customers stored their funds on FTX, which provided a marketplace for people to buy and sell digital coins; the exchange owes its creditors an estimated $US8 billion ($12 billion). And since the implosion, several major crypto firms with close ties to FTX have come under mounting financial pressure, as fears grow that the collapse could cause other companies to fail. On Monday, the crypto lender BlockFi filed for bankruptcy, citing the fallout from FTX’s disintegration.</p><p><img src=\"https://static.tigerbbs.com/32f2132b7d404efd1ddccd3bc0e6eb7d\" tg-width=\"584\" tg-height=\"389\" referrerpolicy=\"no-referrer\"/></p><p>The FTX saga has left the entire industry crypto industry rattled. Credit:Getty</p><p>The legal ramifications are only beginning to take shape. Justice Department prosecutors are investigating FTX’s downfall, focusing on whether the exchange broke the law by lending its customers’ funds to the hedge fund Alameda Research, which Bankman-Fried also founded and owned. In bankruptcy court, FTX’s new chief executive has harshly criticised Bankman-Fried’s management of the company, calling it a “complete failure of corporate control.”</p><p>Reached by phone Sunday night, Bankman-Fried declined to address the messages that top executives exchanged leading up to the bankruptcy filing. But he said that even after FTX’s collapse, he had found “numerous parties” willing to invest funds. He declined to name any of the possible investors.</p><p>Miller and an FTX spokesman declined to comment.</p><p>The crisis began November 8, when Bankman-Fried announced that a run on deposits at FTX had forced him to sell the company to one of its bitterest rivals, Binance. For about a day, the deal raised the prospect that FTX could survive as part of a giant exchange run by Binance. But after reviewing FTX’s financial records, Binance pulled out of the agreement, citing issues with “corporate due diligence.”</p><p>“Sam, I’m sorry,” Binance’s founder, Changpeng Zhao, wrote in a text message to Bankman-Fried. “But we won’t be able to continue this deal. Way too many issues. CZ.”</p><p>With FTX swiftly unravelling, Miller tried to seize control of the situation. A former lawyer for the Commodity Futures Trading Commission, Miller had served as general counsel of FTX’s U.S. arm since August 2021. While he never belonged to Bankman-Fried’s main circle of advisers in the Bahamas, where FTX was based, he had accompanied the young executive in meetings with regulators in Washington.</p><p>Early in the crisis, Caroline Ellison, the chief executive of Alameda, wrote in a group chat with Miller that she was “kinda worried that everyone is gonna quit/take time off,” adding an emoticon of a sweating face. Miller responded November 9 that FTX needed “a professional manager vested with decision-making authority.”</p><p>That afternoon, Miller asked Bankman-Fried and two other executives to shut down trading on FTX’s platforms</p><p>“Who can turn off the websites?” he asked in a group chat at 4:41 p.m.</p><p><a href=\"https://laohu8.com/S/TWOA.U\">Two</a> minutes later, he got a response from Constance Wang, FTX’s chief operating officer and one of Bankman-Fried’s top lieutenants.</p><p>“Ryne, I love you,” she wrote, “but I don’t want to stop trying yet.”</p><p>Miller and other FTX executives also urged Bankman-Fried to give up some control of his business empire. At one point, Zach Dexter, an executive who worked on FTX’s American business, asked Bankman-Fried to delegate authority over US operations to him and Miller. In an exchange on the messaging system Slack, Bankman-Fried at first appeared to dodge Dexter’s question. Instead, he responded with proposed language for a banner on FTX’s US website.</p><p><img src=\"https://static.tigerbbs.com/116265319d5567b7160bed4ca533e339\" tg-width=\"584\" tg-height=\"389\" referrerpolicy=\"no-referrer\"/></p><p>Since the implosion, several major crypto firms with close ties to FTX have come under mounting financial pressure,Credit:AP</p><p>Soon other FTX officials joined in, urging Bankman-Fried to forgo some control.</p><p>But Bankman-Fried seemed convinced he could save FTX. In a message to employees November 10, he announced that he was hoping to secure new financing from crypto entrepreneur Justin Sun. FTX had “a lot theoretically in and/or potentially for the raise,” he wrote.</p><p>Behind the scenes, pressure was growing to appoint a new executive to lead the exchange. On the night of November 9, Andrew Dietderich, a lawyer at Sullivan &amp; Cromwell, sent FTX executives the resume of John Jay Ray III, a corporate turnaround expert who had led the unwinding of Enron after the energy company’s collapse in an accounting scandal in 2001.</p><p>“Sam this is an excellent pick and I wholeheartedly hope you sign this tonight,” Dexter wrote in an email on the evening of November 10. “The faster John is in place, the faster the company can resolve issues that require urgent progress.”</p><p>A flurry of emails followed. In a message at 3:38 a.m. on November 11, Miller asked for an update on Bankman-Fried’s decision.</p><p>“I am chatting with Sam,” responded Ken Ziman, a lawyer at the firm Paul Weiss who was representing Bankman-Fried.</p><p>Ten minutes later, Ziman confirmed that Bankman-Fried had signed the document, authorising Ray to take over FTX. The company filed for bankruptcy a few hours later.</p><p>Bankman-Fried was also frustrated. Despite giving up control of FTX, he continued contacting possible investors about new funding for the exchange. In a letter to former colleagues last week, he said he regretted filing for bankruptcy, claiming that “potential interest in billions of dollars of funding came in roughly eight minutes after I signed the Chapter 11 docs.”</p><p>He presented no evidence for that claim, and in any case, FTX was no longer his company to run. On the morning of November 11, Miller moved quickly to make that clear, requesting the deletion of information about the firm’s old leadership from its website.</p><p>“Who can go to FTX.com and FTX US and remove the pictures and bios of the people under ‘about,’” he asked in a group chat with other executives.</p></body></html>","source":"smh_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Who Can Turn off the Websites?\": Inside Bankman-Fried’s Chaotic Final Days in Charge of FTX</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Who Can Turn off the Websites?\": Inside Bankman-Fried’s Chaotic Final Days in Charge of FTX\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-30 08:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.smh.com.au/business/companies/who-can-turn-off-the-websites-inside-bankman-fried-s-chaotic-final-days-in-charge-of-ftx-20221130-p5c2ct.html><strong>The Sydney Morning Herald</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>When the cryptocurrency exchange FTX filed for bankruptcy on November 11, the company’s founder, Sam Bankman-Fried, announced the news in a contrite message on Twitter.But his attempt to calm the ...</p>\n\n<a href=\"https://www.smh.com.au/business/companies/who-can-turn-off-the-websites-inside-bankman-fried-s-chaotic-final-days-in-charge-of-ftx-20221130-p5c2ct.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc.","GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.smh.com.au/business/companies/who-can-turn-off-the-websites-inside-bankman-fried-s-chaotic-final-days-in-charge-of-ftx-20221130-p5c2ct.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2287859746","content_text":"When the cryptocurrency exchange FTX filed for bankruptcy on November 11, the company’s founder, Sam Bankman-Fried, announced the news in a contrite message on Twitter.But his attempt to calm the situation belied what had just taken place within the company. As the crisis unfolded, a group of FTX lawyers and executives moved to strip authority from Bankman-Fried and urged the company’s top leaders to prepare for bankruptcy. For days, Bankman-Fried ignored their warnings and clung to power, seemingly convinced that he could save the firm, despite mounting evidence to the contrary.Before his empire fell, FTX founder Sam Bankman-Fried had agreed to several deals that are now in limbo, including the purchase of Voyager.Credit:Bloomberg“The exchanges must be halted immediately,” Ryne Miller, a top FTX lawyer, wrote in an email to Bankman-Fried and other staff November 10. “The founding team is not currently in a cooperative posture.”Bankman-Fried eventually relented, stepping down as FTX’s chief executive and authorising the company to file for bankruptcy. Dozens of pages of internal company emails and texts obtained by The New York Times offer a detailed look at those chaotic final days, as messages flew back and forth among FTX officials who seemed to be growing increasingly irritated with the 30-year-old founder.Throughout, Bankman-Fried appeared deluded about FTX’s prospects, insisting that he could find a way to keep the company running, the documents show. A day before the bankruptcy filing, he told employees that he was trying to raise new funding, and as recently as last week he said he regretted authorising the bankruptcy.The messages reviewed by The Times and interviews with insiders show how a small group of lawyers and executives struggled to get through to Bankman-Fried, even appealing to his father as they pressed their case. While Bankman-Fried was scrambling to line up investors, Miller sent a text to top staff describing the prospect of a fundraise as “0% likelihood.”The push and pull continued into the early hours of November 11, when Miller sent a series of messages urging Bankman-Fried to sign papers so the company could file for bankruptcy.“Please can you sign the document,” he wrote at 2:29 a.m.FTX’s implosion has set off one of the worst upheavals in the history of crypto. Until this month, Bankman-Fried was regarded as one of the few trustworthy figures in a freewheeling, loosely regulated industry. He built a business empire, invested in smaller crypto firms and lobbied aggressively in Washington.Now his actions are devastating the industry. Hundreds of thousands of customers stored their funds on FTX, which provided a marketplace for people to buy and sell digital coins; the exchange owes its creditors an estimated $US8 billion ($12 billion). And since the implosion, several major crypto firms with close ties to FTX have come under mounting financial pressure, as fears grow that the collapse could cause other companies to fail. On Monday, the crypto lender BlockFi filed for bankruptcy, citing the fallout from FTX’s disintegration.The FTX saga has left the entire industry crypto industry rattled. Credit:GettyThe legal ramifications are only beginning to take shape. Justice Department prosecutors are investigating FTX’s downfall, focusing on whether the exchange broke the law by lending its customers’ funds to the hedge fund Alameda Research, which Bankman-Fried also founded and owned. In bankruptcy court, FTX’s new chief executive has harshly criticised Bankman-Fried’s management of the company, calling it a “complete failure of corporate control.”Reached by phone Sunday night, Bankman-Fried declined to address the messages that top executives exchanged leading up to the bankruptcy filing. But he said that even after FTX’s collapse, he had found “numerous parties” willing to invest funds. He declined to name any of the possible investors.Miller and an FTX spokesman declined to comment.The crisis began November 8, when Bankman-Fried announced that a run on deposits at FTX had forced him to sell the company to one of its bitterest rivals, Binance. For about a day, the deal raised the prospect that FTX could survive as part of a giant exchange run by Binance. But after reviewing FTX’s financial records, Binance pulled out of the agreement, citing issues with “corporate due diligence.”“Sam, I’m sorry,” Binance’s founder, Changpeng Zhao, wrote in a text message to Bankman-Fried. “But we won’t be able to continue this deal. Way too many issues. CZ.”With FTX swiftly unravelling, Miller tried to seize control of the situation. A former lawyer for the Commodity Futures Trading Commission, Miller had served as general counsel of FTX’s U.S. arm since August 2021. While he never belonged to Bankman-Fried’s main circle of advisers in the Bahamas, where FTX was based, he had accompanied the young executive in meetings with regulators in Washington.Early in the crisis, Caroline Ellison, the chief executive of Alameda, wrote in a group chat with Miller that she was “kinda worried that everyone is gonna quit/take time off,” adding an emoticon of a sweating face. Miller responded November 9 that FTX needed “a professional manager vested with decision-making authority.”That afternoon, Miller asked Bankman-Fried and two other executives to shut down trading on FTX’s platforms“Who can turn off the websites?” he asked in a group chat at 4:41 p.m.Two minutes later, he got a response from Constance Wang, FTX’s chief operating officer and one of Bankman-Fried’s top lieutenants.“Ryne, I love you,” she wrote, “but I don’t want to stop trying yet.”Miller and other FTX executives also urged Bankman-Fried to give up some control of his business empire. At one point, Zach Dexter, an executive who worked on FTX’s American business, asked Bankman-Fried to delegate authority over US operations to him and Miller. In an exchange on the messaging system Slack, Bankman-Fried at first appeared to dodge Dexter’s question. Instead, he responded with proposed language for a banner on FTX’s US website.Since the implosion, several major crypto firms with close ties to FTX have come under mounting financial pressure,Credit:APSoon other FTX officials joined in, urging Bankman-Fried to forgo some control.But Bankman-Fried seemed convinced he could save FTX. In a message to employees November 10, he announced that he was hoping to secure new financing from crypto entrepreneur Justin Sun. FTX had “a lot theoretically in and/or potentially for the raise,” he wrote.Behind the scenes, pressure was growing to appoint a new executive to lead the exchange. On the night of November 9, Andrew Dietderich, a lawyer at Sullivan & Cromwell, sent FTX executives the resume of John Jay Ray III, a corporate turnaround expert who had led the unwinding of Enron after the energy company’s collapse in an accounting scandal in 2001.“Sam this is an excellent pick and I wholeheartedly hope you sign this tonight,” Dexter wrote in an email on the evening of November 10. “The faster John is in place, the faster the company can resolve issues that require urgent progress.”A flurry of emails followed. In a message at 3:38 a.m. on November 11, Miller asked for an update on Bankman-Fried’s decision.“I am chatting with Sam,” responded Ken Ziman, a lawyer at the firm Paul Weiss who was representing Bankman-Fried.Ten minutes later, Ziman confirmed that Bankman-Fried had signed the document, authorising Ray to take over FTX. The company filed for bankruptcy a few hours later.Bankman-Fried was also frustrated. Despite giving up control of FTX, he continued contacting possible investors about new funding for the exchange. In a letter to former colleagues last week, he said he regretted filing for bankruptcy, claiming that “potential interest in billions of dollars of funding came in roughly eight minutes after I signed the Chapter 11 docs.”He presented no evidence for that claim, and in any case, FTX was no longer his company to run. On the morning of November 11, Miller moved quickly to make that clear, requesting the deletion of information about the firm’s old leadership from its website.“Who can go to FTX.com and FTX US and remove the pictures and bios of the people under ‘about,’” he asked in a group chat with other executives.","news_type":1},"isVote":1,"tweetType":1,"viewCount":325,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9962645430,"gmtCreate":1669773807820,"gmtModify":1676538240336,"author":{"id":"4111746275389002","authorId":"4111746275389002","name":"Lemoonbear","avatar":"https://community-static.tradeup.com/news/974e125938d17fa26a87f1c889a7a142","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4111746275389002","authorIdStr":"4111746275389002"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$&nbsp;</a><v-v data-views=\"1\"></v-v>Definitely. Apple's position in the tech sector has been unwaveringly strong. Given its unique iOS and usability, Apple's fanbase will be a strong foundation. Apple will have to find ways to&nbsp;reward and attract loyal and new users into it's ecosystem.","listText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$&nbsp;</a><v-v data-views=\"1\"></v-v>Definitely. Apple's position in the tech sector has been unwaveringly strong. Given its unique iOS and usability, Apple's fanbase will be a strong foundation. Apple will have to find ways to&nbsp;reward and attract loyal and new users into it's ecosystem.","text":"$Apple(AAPL)$ Definitely. Apple's position in the tech sector has been unwaveringly strong. Given its unique iOS and usability, Apple's fanbase will be a strong foundation. Apple will have to find ways to reward and attract loyal and new users into it's ecosystem.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9962645430","isVote":1,"tweetType":1,"viewCount":682,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}