Aisi Realty Share Discussion Threads

[marab] 27/2/2011 17:09

Anyone know if Bargain Betty still posts anywhere? If I get a reply to my email to AISI it might be useful to put it in the header.

[earltaylor] 25/2/2011 22:51

good work again Marab

[marab] 25/2/2011 12:58

I will post any reply here when I get it.

[kennyruss] 25/2/2011 12:54

excellent stuff marab:)

[marab] 25/2/2011 12:42

Sent off email to AISI. There were exactly 20 questions on it which seems like a good start to me.

[marab] 24/2/2011 14:33

envirovision, deleted.

[envirovision] 24/2/2011 14:07

Probably delete the following from the question list -----
What are the basic monetary terms between Brovary park and UVK ?
Are UVK an agent, what commission do they take, when do the rates get reviewed and how often thereafter


yes agree delete that uvk no longer in the picture.

[marab] 24/2/2011 12:30

Current question list

What is AISI's current cash position?
What is the status of the other 3 major projects - on care and maintenance or actively looking to sell?
What are the average warehouse rental figures for Ukraine as $6 / square meter has been suggested?
What premium to the average rental could be expected for quality class A warehouses like Brovary?
What kind of increase of average rental figures for the Ukraine do you foresee for 2011?
Could the Odessa project be self funded on sales of other projects?
Is funding for Ukranian projects getting easier ?
Would the ECRD be interested in part funding Odessa?
Has the whole ECRD loan of $34m been taken up?
How is the ECRD loan covered and what are the current repayment terms?
Does AISI have plans to take advantage of building projects of other companies which have stalled due to lack of funding?
Do the smaller companies listed as part of the AISI group actually have any worthwhile projects and what are they worth?
What is the average rate Brovary will achieve for the warehouse per sq meter ?
How is the $34m loan covered and what are the current repayment terms?
How far into the build is Odessa and when do they hope to complete it?
Is the $65 million facility to complete Odessa still available?
What happened to the outdoor advertising business and is it generating income?
What is the current list of major Shareholders and directors holdings and when will this information be updated on the website?
Are there any outstanding financial liabilities to UVK, and do UVK have any outstanding rights on the Brovary warehouse?

[marab] 24/2/2011 12:26

Doh! Sorry I had wiped UVK from my mind as AISI had given up on that. UVK were paid $1.5m but there is still an outstanding liability.

"Fines payable are due to UVK, the possible tenant of Brovary Logistics Centre. The Group's subsidiary LLC Aisi Bela pledged the owned land plots to secure those payables. The size of pledged land plots is 22,39 hectars. The carrying amount of this investment property as of 31 December 2009 is US$ 11,829,000.

In June 2010 the Group filed a claim against UVK to render the pre-lease agreement signed in 2008 invalid and to terminate the fines and penalties agreement and the respective mortgage agreement. In its turn UVK filed a claim against Terminal Brovary LLC for additional US$ 2,124,000 fines under the pre-lease agreement signed in July 2009. The legal department of the Group is of the opinion that these fines will not be paid."

So maybe I should change the question to "Are there any outstanding financial liabilities to UVK, and do UVK have any outstanding rights on the Brovary warehouse?"

I haven't seen any mention of the outdoor advertising business but I foolishly only went back as far as 2008.

[envirovision] 24/2/2011 11:59

Marab, UKV are a logistics management company. AISI signed the whole of Brovary over to them for 10 years. It was for $6 sq meter but the contract has since been revised.

In 2007 they paid $2.1M for an outdoor advertising business to generate income.

[marab] 24/2/2011 11:49

envirovision , "you'd better tell him your representing a small group of shareholders of the company." I already have but thanks for suggesting it. I will also make it clear that it is my intention to publically share the info provided by AISI on this thread.

[marab] 24/2/2011 11:43

envirovision, I know I am leaving myself open to a - tut tut, and a sad shaking of the head but Who are UVK? and, Advertising Business?

I know AISI have 4 main project sites, one of which - Brovary is completed, Odessa which the company would like to proceed with next and the other 2 could be sold off to provide funding. On the basis of that I thought this worth an investment. AISI have a long list of smaller companies in the group which I presumed were formed to take interests in potential project areas but would welcome any further information on those and my ever widening ignorance of AISI.

Your questions I will add to the list. Last I heard AISI was trying to arrange phased lending of the $65m for Odessa in 2009, and you are right in pointing out how important it would be to clarify if that funding could still be forthcoming. It's interesting that AISI is based in Cyprus, it was a Cypriot bank that was offering the $65m, and Cypriot banks have invested in well over 100 projects in the Ukraine. (Please don't ask for a link to that last bit because I found it at 2 am one morning and have no clue where I saw it).

The $34m funding certainly needs to be clarified as from the last trading update they appear to have only used $16m.

I doubt that we will get a figure for the rentals until everything is rented out but still well worth asking. Any indication would be good.

[marab] 24/2/2011 11:23

Proxy voting form for AGM on this page.

[envirovision] 24/2/2011 11:21

Good stuff ok, you'd better tell him your representing a small group of shareholders of the company.

Ask what they think the average rate Brovary will achieve for the warehouse per sq meter (or foot). Ask what the basic monetry terms are between Brovary park and UVK i.e. are UVK an agent, what commission do they take, when do the rates get reviewed and how often thereafter.

Understanding the $34 schedule is important, ask how its covered and repayment terms.

How far into the build is Odessa and do they hope to complete it. What happened to the $65 million facility to complete it?

What happened to the outdoor advertising business and is it generating income?

Can you give me a current list of major Shareholders and directors holdings (the old one on web site are from 2007).

[marab] 24/2/2011 11:01

AAAInvestment, paxman, envirovision and any others out there who have questions, can you post them by say Saurday evening and I will email them to AISI.

Current list
current cash position
schedule of loan for erbd $34m
status of other 3 projects - on care and maintenance or actively looking to sell?
shareholders page on website - looks 3 years out of date?
average rental figures for Ukraine $6 ?
premium % for quality class A warehouses like Brovary
average rental figures for Ukraine rising by how much
could Odessa project be self funded on sales of other projects
is funding for Ukranian projects getting easier
Would the ECRD be interested in part funding Odessa
does AISI have plans to take advantage of building projects of other companies which have stalled due to lack of funding
do the 20 or so companies listed as part of the AISI group actually have any worthwhile projects and what are they worth

I have no idea what questions will be answered or in what depth but if we don't ask we get nothing at all.

[kennyruss] 24/2/2011 10:08

agree marab

[marab] 24/2/2011 10:07

Thanks Kenny, good start. This board has been so quiet I thought I would give it a day or two for people to post questions then send a blanket email covering the lot. The fact that the email reply was from Beso Sikharulidze himself is highly encouraging.

[kennyruss] 24/2/2011 10:01

ok good work marab...

current cash position
schedule of loan for erbd $34m
status of other 3 projects - on care and maintenance or actively looking to sell?
shareholders page on website - looks 3 years out of date?

[marab] 24/2/2011 09:44

The man from AISI he say yes,

Please e-mail us the list of questions that you may have re Aisi, and as long as info is in public domain, we would be happy to respond. Also, we post all our news on our website at www.aisicapital.com.

With kind regards,
Beso Sikharulidze
President
Aisi Realty Capital, LLC

So let's have your questions please kiddies and I will lump them all together in one email and post any reply here.

[marab] 24/2/2011 08:26

I have as yet received no reply from my emails to AISI or Seymour Pierce. While I am sure that they are composing lengthy replies as we speak, I have now commenced plan B. Plan B is the resending of the original emails every day for a week just to remind them that time is passing. Week 2 is 2 emails a day, and week 3 is normally when I get the restraining order.

[marab] 23/2/2011 10:54

300,000 sold, can buy now at 1.78p. If this drifts down it will be well worth picking up a few more. Looks like a lot of investors are cashing in across the board. Bargain time.

[marab] 23/2/2011 08:47

Due to having been born with a great lack of patience and having had no reply so far to my email to AISI, I have sent one to Seymour Pierce their financial advisers so we will see if that brings any results.

[marab] 22/2/2011 17:05

envirovision, nothing from AISI yet. "the outskirts of Kyiv are littered with half-completed retail developments", I can easily believe that, and there could be real scope for buying up part finished projects and finishing them, although that would need a good revenue stream.

Earltaylor, wait until tomorrow when I will be publishing my in-depth research on the paint they used on the outside of the warehouse!

[envirovision] 22/2/2011 14:22

re rental this is really a black area but im sure its another questionm the company could supply an average figure. Has anyone had any luck contacting them yet marab?

There is a poster on the sha thread who knows Ukraine really well (has even written a book about the county which I can recommend)

I asked him about the shortage of warehousing around Kiev here is his reply
Ptolemy - 21 Feb'11 - 16:20 - 7556 of 7563

enviro,
On fundamentals, I would have to say yes. The retail space per head in Kyiv is well below that in Moscow or Warsaw, which are both well below, say, London and Paris. Take a look at Rave Russia for a comparator.

On the other hand the outskirts of Kyiv are littered with half-completed retail developments. I guess my answer is, timing is everything.