- Transfer coverage on Mapletree Pan Asia Commercial Trust (SGX:N2IU) to Krishna Guha and downgrade to HOLD with a downside of 5% to our DDM-based S$1.65 target price.
- Mapletree Pan Asia Commercial Trust has scale and diversity and potential growth opportunities from capital recycling. That said, it ceases to be a Singapore pure play and brings along execution and FX risk. Higher income contribution from retail assets may be offset from mixed outcome from other properties.
- - Read this at SGinvestors.io -
VivoCity and Festival Walk to anchor growth
- - Read this at SGinvestors.io -
- While rental reversion for Festival Walk was negative at -11.5%, this was before China re-opened its borders. We expect Festival Walk and Vivo to benefit from the reopening.
Eye on tech and China exposure
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.ketrade.com.sg/.
Krishna Guha Maybank Research | https://www.maybank-ke.com.sg/ 2023-02-10
Read also Maybank's most recent report:
2023-08-03 Mapletree Pan Asia Commercial Trust - Slow Start With Funding Headwinds, Reasonable Valuation.
Previous report by Maybank:
2023-05-02 Mapletree Pan Asia Commercial Trust - Negatives Priced In; Upgrade To BUY.
Price targets by 3 other brokers at Mapletree Pan Asia Commercial Trust Target Prices.
Listing of research reports at Mapletree Pan Asia Commercial Trust Analyst Reports.
Relevant links:
Mapletree Pan Asia Commercial Trust Share Price History,
Mapletree Pan Asia Commercial Trust Announcements,
Mapletree Pan Asia Commercial Trust Dividends & Corporate Actions,
Mapletree Pan Asia Commercial Trust News Articles
