- Mapletree Pan Asia Commercial Trust (SGX:N2IU)’s 1Q25 DPU of S$2.09 cents fell 8.7% q-o-q and -4.1% y-o-y, in line with our est. Forex headwinds and pockets of weakness in overseas markets offset growing contribution from Singapore assets.
- - Read this at SGinvestors.io -
- As the divestment of Anson is close to completion, gearing will be reduced to ~37.6% (from 40.5%) on a pro-forma basis. Mapletree Pan Asia Commercial Trust could benefit from lower interest rates due to its floating rate exposure.
Stable fundamentals of Singapore portfolio
- - Read this at SGinvestors.io -
- Management announced an AEI at VivoCity, with a 10% target ROI and estimated capex of S$42m.
- Performance at MBC was largely stable with positive reversions (+2.3%), notwithstanding a slower leasing market and rising competition. We observe tenants are more conscious about capex for renovations and incentives, which may mean leasing decisions may take longer.
- Management expects slight movements in reversions as the spread between new signings over expiring rents narrowed.
Revitalizing Festival Walk mall
- 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/.
Li Jialin Maybank Research | https://www.maybank-ke.com.sg/ 2024-08-05
Read also Maybank's most recent report:
2024-10-28 Mapletree Pan Asia Commercial Trust - Tempered Optimism; Challenging Operating Environment.
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
