CapitaLand Mall Trust

CapitaLand Mall Trust is a real estate investment trust. Co. owns and invests in assets, which are used, or predominantly used, for retail purposes primarily in Singapore. Co.'s portfolio is comprised of 16 shopping centers, which include Tampines Mall, Junction 8, Funan DigitaLife Mall, IMM Building, Plaza Singapura, Bugis Junction, Sembawang Shopping Centre, JCube, Hougang Plaza, Lot One Shoppers' Mall, Bukit Panjang Plaza, Rivervale Mall, The [email protected], Clarke Quay, Iluma, and Raffles City Singapore. All of Co.'s shopping centers are located in Singapore.
  • TickerC38U
  • ISINSG1M51904654
  • ExchangeSingapore Exchange
  • SectorReal Estate Investment Trusts
  • CountrySingapore
UOB
Jonathan Koh ...
  • Loke Pei Hao

REITs - S-REITs Bi-Weekly (1-15 Sep 20)

S-REITs gained 0.8% during 1-15 Sep 20. S-REITs embarking on yield-accretive acquisitions, such as CERT, FCT, KREIT and MINT, led the gainers. The COVID-19 pandemic has helped these S-REITs acquire properties at lower prices and higher NPI yields. Lower interest rates have also reduced their cost of debt. Maintain OVERWEIGHT on S-REITs. BUY retail REITs CT (Target: S$2.55) and FCT (Target: S$3.10), hospitality REIT FEHT (Target: S$0.58) and office REIT KREIT (Target: S$1.40).

UOB
Jacquelyn Yow Hui Li ...
  • Jonathan Koh
  • Leow Huey Chuen
  • Loke Pei Hao

Singapore Daily - Thursday, September 17, 2020

KEY HIGHLIGHTS Sector REITs: S-REITs Bi-weekly (1-15 Sep 20). AT A GLANCE Corporate Wilmar International (WIL SP/BUY/Target: S$5.35): YKA receives final registration approval for listing on the SZSE ChiNext board. TRADERS’ CORNER Far East Hospitality Trust (FEHT SP): Trading Buy ComfortDelGro Corp (CD SP): Trading Buy

UOB
Jonathan Koh ...
  • Loke Pei Hao

Retail REITs - Recovery becoming entrenched

The strong 19.5% mom rebound in retail sales (seasonally adjusted) brings renewed optimism of recovery for retail REITs. Online penetration for retail sales peaked in May and has been on a downward trend. The sustained drop in community transmission of COVID-19 infection could also lead to further easing of safe distancing measures. Maintain OVERWEIGHT. BUY for CMT (Target: S$2.55), FCT (Target: S$3.10) and MCT (Target: S$2.35).

UOB
Jonathan Koh ...
  • Loke Pei Hao

Singapore Daily - Tuesday, September 08, 2020

KEY HIGHLIGHTS Sector Retail REITs: Recovery becoming entrenched. Update Sembcorp Industries (SCI SP/BUY/S$1.92/Target: S$2.20): A deep-value utilities company that trades at 40-50% discount to regional peers. TRADERS’ CORNER UG Healthcare Corp (UGHC SP): Trading Buy Ascott Residence Trust (ART SP): Trading Buy

UOB
Jonathan Koh ...
  • Loke Pei Hao

REITs - Resuming the quest for scale and resiliency

CMT’s and CCT’s independent directors have recommended unitholders to vote in favour of the proposed merger to create CICT via a trust scheme of arrangement. Unitholder meetings are to be held on 29 Sep 20. Maintain BUY on CMT (Target: S$2.55) and HOLD on CCT (Target: S$1.66). The two S-REITs will morph into the second largest REIT in the Asia Pacific region.

UOB
Jonathan Koh ...
  • Loke Pei Hao

REITs - S-REITs Bi-Weekly (1-15 Sep 20)

S-REITs gained 0.8% during 1-15 Sep 20. S-REITs embarking on yield-accretive acquisitions, such as CERT, FCT, KREIT and MINT, led the gainers. The COVID-19 pandemic has helped these S-REITs acquire properties at lower prices and higher NPI yields. Lower interest rates have also reduced their cost of debt. Maintain OVERWEIGHT on S-REITs. BUY retail REITs CT (Target: S$2.55) and FCT (Target: S$3.10), hospitality REIT FEHT (Target: S$0.58) and office REIT KREIT (Target: S$1.40).

UOB
Jacquelyn Yow Hui Li ...
  • Jonathan Koh
  • Leow Huey Chuen
  • Loke Pei Hao

Singapore Daily - Thursday, September 17, 2020

KEY HIGHLIGHTS Sector REITs: S-REITs Bi-weekly (1-15 Sep 20). AT A GLANCE Corporate Wilmar International (WIL SP/BUY/Target: S$5.35): YKA receives final registration approval for listing on the SZSE ChiNext board. TRADERS’ CORNER Far East Hospitality Trust (FEHT SP): Trading Buy ComfortDelGro Corp (CD SP): Trading Buy

UOB
Jonathan Koh ...
  • Loke Pei Hao

Retail REITs - Recovery becoming entrenched

The strong 19.5% mom rebound in retail sales (seasonally adjusted) brings renewed optimism of recovery for retail REITs. Online penetration for retail sales peaked in May and has been on a downward trend. The sustained drop in community transmission of COVID-19 infection could also lead to further easing of safe distancing measures. Maintain OVERWEIGHT. BUY for CMT (Target: S$2.55), FCT (Target: S$3.10) and MCT (Target: S$2.35).

UOB
Jonathan Koh ...
  • Loke Pei Hao

Singapore Daily - Tuesday, September 08, 2020

KEY HIGHLIGHTS Sector Retail REITs: Recovery becoming entrenched. Update Sembcorp Industries (SCI SP/BUY/S$1.92/Target: S$2.20): A deep-value utilities company that trades at 40-50% discount to regional peers. TRADERS’ CORNER UG Healthcare Corp (UGHC SP): Trading Buy Ascott Residence Trust (ART SP): Trading Buy

UOB
Jonathan Koh ...
  • Loke Pei Hao

REITs - Resuming the quest for scale and resiliency

CMT’s and CCT’s independent directors have recommended unitholders to vote in favour of the proposed merger to create CICT via a trust scheme of arrangement. Unitholder meetings are to be held on 29 Sep 20. Maintain BUY on CMT (Target: S$2.55) and HOLD on CCT (Target: S$1.66). The two S-REITs will morph into the second largest REIT in the Asia Pacific region.

CapitaLand Mall Trust: Update following placement of ratings on review for downgrade

Our credit view of CapitaLand Mall Trust, reflecting the potential weakening of its credit metrics following the merger with CapitaLand Commercial Trust.

CapitaLand Mall Trust - December 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

CapitaLand Mall Trust: Update to credit analysis

The negative outlook reflects the increase in leverage following the acquisition of Infinity Mall Trust

CapitaLand Mall Trust: CMT’s equity raise will reduce total debt required to fund the Westgate acquisition, a credit positive

The equity issuance will limit the weakening in leverage

CapitaLand Mall Trust: Update following change in outlook to negative

The negative outlook reflects a likely increase in leverage following the proposed acquisition of Infinity Mall Trust

CAPITALAND MALL TRUST with less fundamental stars is reduced to Neutral

CAPITALAND MALL TRUST (SG), a company active in the Real Estate Investment Trusts industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date June 30, 2020, the closing price was SGD 1.96 and its expected value was estim...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the we...

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