OMG

Allco REIT

Just by browsing thru the first quarter 08 financial statement, I can say that the management don't know what they are doing. Everything is in a mess. No wonder the large discount from its NAV.

Skewed Presentation

In their powerpoint presentation, they skew the data to give a look that they are succeeding. They show all the plus points like the increase in revenue from their "forecasted" and previous year.

BUT. They did not even talk about the COST. The cost percentage rise is more than the revenue rise. They did not or could not take care of the bottom line. All I can say is poor management. It recently refinanced itself at a higher intereste rate.

In the long run, this REIT will definitely be taken over or liquidated.

If the stock price rises tml, it means that people do not understand the downside.