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CAPITALAND MALL TRUST C38U.SI CapitaLand Mall Trust - Tapering Reversions
- 9M15 results in line. Revenue & NPI declined on the back of lower occupancies & tapering rent reversions.
- Improved shopper traffic & tenant sales not translating into stronger rent reversions.
- Remain cautious on retail sector. Maintain SELL, with no change to DPU or SGD1.66 TP, based on yield target of 6.75%.
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