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:
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