Wednesday 21 October 2015

Mapletree Commercial Trust - CIMB Research 2015-10-21: Better operating performance

Mapletree Commercial Trust - CIMB Research 2015-10-21: Better operating performanceMAPLETREE COMMERCIAL TRUST N2UY.SI 

Mapletree Commercial Trust - Better operating performance 

  • 2QFY16 performance lifted by higher revenue and lower operating expenses. 
  • Portfolio occupancy rose in 2Q, and could to pick up further in 2H on higher committed take-up. 
  • Recovery of shopper traffic and tenant sales growth in Vivocity. 
  • Outlook remains stable, with 25.9% of leases to be renewed in 2HFY16-FY17. 
  • Maintain Hold with a lower DDM-based target price of S$1.44. 
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