reports
- Chong Lee Len
- Jack Lai Yuan Khai
- Johnny Yum Chung Man
- Jonathan Koh
- Julia Pan Mengyao
- Jun Sian Tan
- Kampon Akaravarinchai
- Limartha Adhiputra
- Llelleythan Tan Tan
- Ming San Soong
Regional Morning Notes - Wednesday, June 19, 2024
REGIONAL Sector Telecommunications: The Singapore-Malaysia connection – Singtel and Telekom Malaysia embark on data centre expansion in Johor. GREATER CHINA Sector Internet: Shelter against mounting competition and soft momentum during the summer holiday. Update Sunny Optical (2382 HK/BUY/HK$51.65/Target: HK$63.00): Takeaways from 2024 Investor Day. INDONESIA Sector Cement: Cement price hikes might have a negative impact on sales volume. Downgrade to MARKET WEIGHT. MALAYSIA Sector Constructio...
- Jonathan Koh
Daiwa House Logistics Trust (DHLT SP) - Growth From Logistics Assets I...
DHLT owns 17 logistics properties in Japan with total NLA of 4.9m sf. It benefits from the growth of the third-party logistics and e-commerce sectors, which accounted for 75.7% and 8.1% of its GRI respectively. DHLT is expanding in Japan and Southeast Asia by tapping its sponsor pipeline. It made its maiden foray overseas by acquiring cold storage facility D Project Tan Duc 2 in Vietnam for VND483b (S$26.5m). DHLT trades at an attractive 2024 distribution yield of 9.0% and P/NAV of 0.82x.
- Chong Lee Len
- Jonathan Koh
- Llelleythan Tan Tan
Singapore Daily: Wednesday, June 19, 2024
KEY HIGHLIGHTS Sector Telecommunications – Regional The Singapore-Malaysia connection – Singtel and Telekom Malaysia embark on data centre expansion in Johor. Update Daiwa House Logistics Trust (DHLT SP/NOT RATED/S$0.575) Growth from logistics assets in Japan and Southeast Asia. TRADERS' CORNER Jardine Cycle & Carriage (JCNC SP): Trading BUY Riverstone Holdings (RSTON SP): Trading B...
- Chong Lee Len
- Damon Shen
- Jacquelyn Yow Hui Li
- Jieqi Liu
- Jonathan Koh
- Kampon Akaravarinchai
- Keith Wee Teck Keong
- Kitpon Praipaisarnkit
- Kong Ho Meng
- Krit Tanarattananon
- Leow Huey Chuen
- Paula Ruth
- Thailand Research Team
Regional Morning Meeting Notes: Tuesday, June 4, 2024
GREATER CHINA Sector Property - Hong Kong Limited Downside Risks To Property Price in Near Term; Watch For Policy Support For Hong Kong Tourism. INDONESIA Update XL Axiata (EXCL IJ/BUY/Rp2,320/Target: Rp2,900) 2024 net profit could grow 45% yoy, partly driven by network improvement. MALAYSIA Sector Oil & Gas Petrona...
00016 SUN HUNG KAI PROPERTIES LIMITED
FCT FRASERS CENTREPOINT TRUST
00823 LINK REAL ESTATE INVESTMENT TRUST
1023 CIMB GROUP HOLDINGS BHD
CPIN PT CHAROEN POKPHAND INDONESIA TBK
5681 PETRONAS DAGANGAN BHD.
5218 SAPURA ENERGY BHD
AJBU KEPPEL DC REIT
TU THAI UNION GROUP PUBLIC COMPANY LIMITED
ADVANC ADVANCED INFO SERVICE PUBLIC CO. LTD.
00014 HYSAN DEVELOPMENT CO. LTD.
5347 TENAGA NASIONAL BHD
AW9U FIRST REAL ESTATE INVESTMENT TRUST
O5RU AIMS APAC REIT
SK6U SPH REIT
5243 VELESTO ENERGY
01997 WHARF REAL ESTATE INVESTMENT CO. LTD.
UZMA UZMA BHD
MISC MISC BHD
CDREIT CDL HOSPITALITY TRUSTS
YNS YINSON HOLDINGS BHD
SUN SUNTECH SA
KREIT KEPPEL REIT
MLT MAPLETREE LOGISTICS TRUST
BTS BTS GROUP HOLDINGS PUBLIC CO. LTD.
FEHT FAR EAST HOSPITALITY TRUST
BAB BUMI ARMADA BERHAD
PREIT PARKWAYLIFE REAL ESTATE
MINT MAPLETREE INDUSTRIAL TRUST
FHT FRASERS HOSPITALITY TRUST
DLG DIALOG GROUP BHD
MMHE MALAYSIA MARINE AND HEAVY EN
CPALL TB CP ALL
SDPL SIME DARBY PLANTATION BHD
DLUM DELEUM BERHAD
SASSR SASSEUR REAL ESTATE INVESTMENT TRUST
MUST MANULIFE US REAL ESTATE INV
TXG 10X GENOMICS INC CLASS A
TGIF 1933 INDUSTRIES
UHU UNITED HAMPSHIRE US REIT
CICT CAPITALAND INTEGRATED COMMERCIAL TRUST
SCGP SCG PACKAGING PCL
LREIT SP LENDLEASE GLOBAL COMMERCIAL REIT
TIDLOR NGERN TID LOR PCL
FLT FRASERS LOGISTICS & COMMERCIAL TRUST
KORE KEPPEL PACIFIC OAK US REIT
00017 NEW WORLD DEVELOPMENT CO. LTD.
DHLT DAIWA HOUSE LOGISTICS TRUST
DCREIT DIGITAL CORE REIT
EXCL XL AXIATA TBK PT
MPACT MAPLETREE PAN ASIA COMMERCIAL TRUST
123F 123FAHRSCHULE SE
BCOW 1895 BANCORP OF WISCONSIN INC
CLAS CAPITALAND ASCOTT TRUST
CLAR CAPITALAND ASCENDAS REIT
PRIME PRIME ROAD POWER PUBLIC CO LTD
Z29 029 GROUP SE
1737144D TB BETAGRO GROUP
- Clarence Chu
Daiwa House Logistics Trust IPO
DHLT is a Japan pure-play logistics REIT with an initial portfolio of 14 logistics assets spread across the Greater Tokyo, Hokkaido and Tohoku, Chugoku and Kyushu, and Greater Nagoya regions. As of Jun 2021, its assets had an aggregate net lettable area (NLA) of 423,920 sqm and had an appraised valuation of approximately JPY80,570m (S$952.9m). As of Oct 2021, portfolio occupancy stood at 96.3% and its assets had a weighted average lease expiry (WALE) of 7.2 years. The portfolio has done well...
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