Mapletree Pan Asia Commercial Trust - Maybank Research 2023-05-02: Negatives Priced In; Upgrade To BUY

• Mapletree Pan Asia Commercial Trust (SGX:N2IU) reported 4Q DPU of S$0.0225; flat y-o-y on an adjusted basis, -7% q-o-q. Occupancy was down about a single percentage point while reversion slowed y-o-y. Funding cost rose both on the year and sequentially, and is expected to rise further.
• - Read this at SGinvestors.io -

Growth led by merger

• - Read this at SGinvestors.io -
• All in, distributable income rose 58%, excluding the impact of release of retained cash a year ago. DPU was flat on a comparable basis as higher income was offset by expanded base of units.

Mixed operating trend

• Read more at SGinvestors.io.

Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.

Read also Maybank's most recent report:
2026-02-02 Mapletree Pan Asia Commercial Trust - Stable Performance Despite Continued Headwinds For Overseas Portfolio.

Previous report by Maybank:
2025-10-24 Mapletree Pan Asia Commercial Trust - Stabilising Distribution.

Price targets by 2 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 Dividend Payout Dates & Corporate Actions,
Mapletree Pan Asia Commercial Trust News