Property Singapore - UOB Kay Hian Research 2015-11-30: 1H16 Strategy ~ Interest-ing Times For Real Estate
Singapore Property WING TAI HLDGS LTD W05.SI CITY DEVELOPMENTS LIMITEDC09.SI ASCOTT RESIDENCE TRUST A68U.SI MAPLETREE LOGISTICS TRUST M44U.SI CAPITALAND COMMERCIAL TRUST C61U.SI Property – Singapore 1H16 Strategy: Interest-ing Times For Real Estate
- We recommend an OVERWEIGHT stance on the sector as we believe concerns over a rise in interest rates have been overblown.
- We prefer developers over REITs.
- Developers are trading near undeserving crisis valuations and offer an attractive 6:1 reward-to-risk proposition. S-REIT yield spreads remain the most attractive regionally, with upcycle yield spreads indicating 30% upside potential.
- Our top picks are CDL, Wing Tai, ART, MLT and CCT which offer deep-value and diversification.
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Singapore Property WING TAI HLDGS LTD W05.SI CITY DEVELOPMENTS LIMITEDC09.SI ASCOTT RESIDENCE TRUST A68U.SI MAPLETREE LOGISTICS TRUST M44U.SI CAPITALAND COMMERCIAL TRUST C61U.SI 
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