Mapletree Logistics Trust - UOB Kay Hian 2024-03-15: Weathering Headwinds From Mainland China

Mapletree Logistics Trust - Weathering Headwinds From Mainland China

Published:
Mapletree Logistics Trust (SGX:M44U) | SGinvestors.ioMapletree Logistics Trust (SGX:M44U)

China’s logistics market in dire straits.

  • Consumer spending in China is weighted down by negative wealth effect caused by falling prices in the residential property and stock markets. China’s online retail sales of goods & services slowed to 11.9% y-o-y in Dec 23 due to weakness in consumer confidence.
  • - Read this at SGinvestors.io -

Risk from prolonged downturn in China.

  • Mapletree Logistics Trust (SGX:M44U)’s management cautioned that demand is expected to be soft over the next 6-12 months. Tier 1 cities saw positive rental reversion of 2% but Tier 2 cities suffered negative reversion of 17% in 3QFY24. Management expects continued negative rental reversion at high single digits to low teens.
  • Occupancy for China was stable at 93.1% in 3QFY24. Occupancy for Tier 1 cities has deteriorated by 4ppt q-o-q to 91%, while occupancy for Tier 2 cities was stable at 93%.

Prudent capital management.

  • Read more at SGinvestors.io.




Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.




Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-03-15



Previous report by UOB:
2024-01-26 Mapletree Logistics Trust 3QFY24 - Weathering Near-Term Headwinds From China.

Price targets by 2 other brokers at Mapletree Logistics Trust Target Prices.

Listing of research reports at Mapletree Logistics Trust Analyst Reports.

Relevant links:
Mapletree Logistics Trust Share Price History,
Mapletree Logistics Trust Announcements,
Mapletree Logistics Trust Dividends & Corporate Actions,
Mapletree Logistics Trust News Articles





Advertisement

You May Also Like




SGX Stock / REIT Search

Advertisement

Most Read

Trust Bank God Of Fortune Referral Code PGKPSWAE Trust Bank Referral Code 🎁

Advertisement