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

Mapletree Pan Asia Commercial Trust - Divesting Singapore Office To De-gear

Published:
Mapletree Pan Asia Commercial Trust (SGX:N2IU) | SGinvestors.ioMapletree Pan Asia Commercial Trust (SGX:N2IU)

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




Krishna Guha Maybank Research | https://www.maybank-ke.com.sg/ 2024-06-03



Read also Maybank's most recent report:
2024-10-28 Mapletree Pan Asia Commercial Trust - Tempered Optimism; Challenging Operating Environment.

Previous report by Maybank:
2024-08-05 Mapletree Pan Asia Commercial Trust - Driving Resilience; 1QFY25 In Line.

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





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