Mapletree Pan Asia Commercial Trust - Maybank Research 2024-06-03: Divesting Singapore Office To De-gear

• Mapletree Pan Asia Commercial Trust announced divestment of Mapletree Anson for S$775m to a third party at a slight premium to book and exit NPI yield of 3.8%.

Regaining financial flexibility

• - Read this at SGinvestors.io -
• Further recycling of non-core assets should boost the investment case.

Transaction details

• Mapletree Anson is a CBD fringe office with 82 years of remaining land lease. The divestment consideration of S$775m is at a 1.3% premium to the last independent valuation of S$765m and 14% above the purchase price of S$680m. The property has 100% committed occupancy.
• - Read this at SGinvestors.io -
• The transaction price equates to S$2,352 psf of NLA, which is 19% below the sale of adjoining building Twenty Anson in Apr 2022.

Financial & strategic merits of the deal

• 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:
2025-10-24 Mapletree Pan Asia Commercial Trust - Stabilising Distribution.

Previous report by Maybank:
2025-04-30 Mapletree Pan Asia Commercial Trust - Finding A Floor For Falling Distribution..

Price targets by 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