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MCT
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PhillipTan
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22-Jul-2021 02:43
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FCT, KReit, MCT among safer Reit options amid return to Heightened AlertFrasers Centrepoint Trust (FCT), Keppel Reit (KReit) and Mapletree Commercial Trust (MCT) are among the preferred Singapore real estate investment trust (S-Reit) picks of DBS, as the country returns to Phase 2 (Heightened Alert) in a bid to control the spread of Covid-19.The brokerage has also recommended several industrial Reits as " safe harbours" . On Tuesday, Singapore' s Covid-19 taskforce reinstated a ban on dining at food and beverage outlets. These F& B players will only be allowed to offer takeaways and deliveries. Social gatherings outside the home will also be limited to group sizes of two people. These new restrictions will last for about a month. DBS expects the restrictions will lead to a 6 to 10 per cent cut in earnings estimates for retail Reits, which may have to grant rental rebates to their F& B tenants. " With restaurants now possibly facing up to two months of not having dine-in customers, we fear that some restaurants may be forced to throw in the towel," the brokerage said in a report dated Wednesday. But DBS continues to like FCT, which is exposed to the " more resilient essential tenant trades" . Most of FCT' s malls are located in the suburban parts of Singapore, and tend to be frequented by shoppers in need of groceries or other essentials. DBS has a " buy" call on FCT and a target price of S$3, which is 25 per cent above the trust' s close on Wednesday at S$2.40. Meanwhile, an extension of the current work-from-home arrangements could affect office leasing momentum. But DBS is positive on the outlook for KReit and MCT as it sees them as " better positioned to attract new economy tech firms" . It has " buy" calls on both with target prices of S$1.40 and S$2.25, respectively. Units of KReit closed Wednesday at S$1.19 while MCT closed at S$2.12. Within the Reit space in general, DBS said industrial Reits have the " clearest growth trajectory" just now, as their tenants are least likely to be affected by Covid-related restrictions. The brokerage sees warehouses and business parks leading the recovery, and it has " buy" calls on Mapletree Logistics Trust Mapletree Log Tr: M44U -0.48% (target price S$2.35, close on Wednesday S$2.08), Mapletree Industrial Trust Mapletree Ind Tr: ME8U +0.35% (target price S$3.25, close on Wednesday S$2.88), Ara Logos Logistics Trust ARA LOGOS Log Tr: K2LU -1.69% (target price S$0.85, close on Wednesday S$0.87) and Aims Apac Reit AIMS APAC Reit: O5RU +1.29% (target price S$1.60, close on Wednesday S$1.57). DBS also highlighted the healthcare-focused Parkway Life Reit ParkwayLife Reit: C2PU -1.04% (PLife Reit) for its resilient earnings profile. PLife Reit owns 53 healthcare-related properties, including three of Singapore' s largest private hospitals: Mount Elizabeth Hospital, Gleneagles Hospital and Parkway East Hospital. The brokerage has a " buy" call on PLife Reit with a target price of S$5.75, reflecting upside potential of 21.3 per cent from the close on Wednesday at S$4.74. |
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Lobster
Elite |
16-Jul 18:04
Yells: "Even Adam Khoo believes in the Black Market!" |
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With the highest number of foreign REITs listing in the world, Singapore has the largest REITs market In Asia (excluding Japan). Recognised as a global REITs hub, the REITs market accounts for over 12% of Singapore Exchange (SGX) total market capitalisation. After taking a hit in 2020 from the pandemic, the Singapore REITs (S-REITs) market has seen a gradual recovery on the prospect of moving towards a vaccinated world. During the first half of 2021, S-REITs generated a total return of 8.9%. For investors who want to invest in REITs for dividend income, there are multiple REIT options that you can consider. Among them, Mapletree Investments Pte Ltd owns the most S-REITs listing with a combined market capitalisation of $27 billion
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PhillipTan
Supreme |
07-Jul-2021 11:36
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DBS - Ideas of the Day Trending Sectors Singapore Office REITs Downtown office vacancies rise as rents stabilise * We have observed a divergence in office fundamentals with offices in the downtown region seeing lower demand compared to those on the city fringes - Data from Knight Frank revealed that vacancies at Raffles Place and Marina Bay had inched up in 1Q21 - Conversely, vacancies at Orchard, Shenton Way, and the general city fringes dropped during the same quarter - Overall, net demand for Grade A CBD office space has turned positive in 1H21 at 68,000 sqft according to Cushman & Wakefield * Positively, preliminary data from JLL has also shown that rents have stabilised with Grade A CBD office space seeing a 1.2% q-o-q rise in 2Q21 * REITs such as MCT with a larger exposure to offices outside the downtown region could benefit from the decentralisation trend * Other Office REITs with a large portfolio located in the downtown region including KREIT, Suntec REIT and OUE Commercial REIT could see recoveries play out over a longer period |
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PhillipTan
Supreme |
06-Jul-2021 23:16
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Maybank KE identifies potential ESG winners in economic transitionMaybank Kim Eng is positive that companies like DBS, Venture Corporation and ComfortDelGro offer strategic advantages as Singapore addresses the environmental, social and governance (ESG) challenges in the coming years.In its Singapore ESG Compendium released on Monday, Maybank KE analysts said that the nation faces threats from climate change and social and governance risks from its role as a regional financial centre. Yet, there are also opportunities for companies to reform and be greener as more investors seek sustainable and transparent companies post-pandemic. For instance, the top five performers in the SGX iEdge ESG Leaders index have outperformed their counterparts in the Straits Times Index by 616 per cent in 2020 alone, and by another 124 per cent year to date. Looking at real estate investment trusts (Reits), Maybank KE flagged Ascendas Reit (A-Reit), Mapletree Commercial Trust (MCT) and Mapletree Logistics Trust (MLT) as being well-positioned in ESG factors. While assessing A-Reit, the analysts like that its trustee-manager' s high board independence contributed to the trust' s strong corporate governance. Six out of nine board members are independent, including the chairman. MCT has also stayed relevant by conducting monthly workshops for new employees of its tenants at VivoCity to train them on the mall' s service culture and improving shopper loyalty, said the analysts. As for MLT, analysts said that it is the first Singapore Reit to link its renewable energy generating target to a sustainability-linked loan via a six-year S$200 million facility from OCBC for its rooftop solar installation programme. Units of A-Reit closed up 1.34 per cent at S$3.02, while MCT was at S$2.19, up 1.39 per cent on Tuesday. Units of MLT closed 1.93 per cent higher at S$2.11. |
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PhillipTan
Supreme |
06-Jul-2021 11:39
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DBS - Market View Update Setting up for an endemic COVID-19 * Support measures revealed in yesterday' s ministerial statement came as no surprise: - Wage subsidy of between 10&ndash 50% under the Jobs Support Scheme from 16 May &ndash 25 July which coincides with Singapore' s shift to heightened alert - Rental waivers for market stallholders and cash aid for private-hire car and cab drivers - New bridging loan programme for an additional 6 months from 1 Oct 2021 &ndash 31 Mar 2022 * The extra aid will cost S$1.2bn while smaller relative to past measures, signifies that the economy is adapting with only targeted support needed * As Singapore shifts towards an endemic COVID-19, the focus will be on vaccinations and new hospitalisations caused by COVID-19 rather than the number of new cases * Maintain our view that domestic reopening names (ComfortDelGro, FCT, MCT, Koufu) should lead * Travel and leisure stocks (SATS, Genting, CDL HT, FEHT) to lag as the reopening of borders for SHN-free leisure travel to Singapore from top 5 countries by tourism receipts (pre-COVID: China, Indonesia, India, Australia, Japan) may not occur any time soon |
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PhillipTan
Supreme |
24-Jun-2021 11:36
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DBS - Ideas of the Day Trending Sectors - Reopening beneficiaries Pandemic to endemic - Singapore is preparing a roadmap for COVID-19 being endemic as more people are vaccinated in the weeks/months ahead - Next milestone is for two-thirds of the population to be vaccinated by National Day - In time, COVID-19 will be treated as any other endemic diseases such as dengue and HFMD - Focus will then turn to the number of hospitalisations compared to number of infections, large gatherings can be allowed, businesses needed not fear disruptions - Eventually, no-quarantine international travel will be possible using vaccine certificates to countries that have also brought the disease to an endemic norm - Positive for domestic reopening names: (1) public transportation - ComfortDelGro, (2) retail REITs - Frasers Commercial Trust, Lendlease Global, Mapletree Commercial Trust, (3) office -Keppel REIT. |
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PhillipTan
Supreme |
21-Jun-2021 09:56
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DBS - Market View Update STI support at 3060 - July rebound should follow the June correction - S& P500 fell 1.3% on Friday on rising interest rates uncertainty after a FED official said rates could rise as soon as end-2022 - Cyclicals led the decline while sectors with growth seen as more resilient to a rising interest rates outperformed. - Energy, utilities, and financials underperformed while consumer discretionary, technology and telecom sectors outperformed - The wide trading range from 3200-3300 (13.78x +0.5SD 12-mth fwd PE) to 3060 (below 13.18x average 12-mth fwd PE) should continue in coming month/s - July is a seasonally positive month, and this year should be no exception, underpinned by interim dividend announcement for banks (UOB, OCBC) and technical rebound for the broader market - We think the current decline should find support at 3090-3100 or worst case 3060 - While the current heightened measures will impact 2Q results, we are positive on domestic reopening names beyond the upcoming reporting season as Singapore prepares for a more robust and sustainable reopening with rising vaccination rates (e.g. FCT, Mapletree Commercial Trust, Lendlease Global, Keppel REIT, ComfortDelgro) |
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spore1
Supreme |
02-May-2019 14:44
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Oic! Let's wait for good price to come back
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Stocky901
Supreme |
02-May-2021 12:50
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Likely to go down together with CICT.
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spore1
Supreme |
01-May-2021 22:15
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Fri she has managed to close 1 cents higher at $2.19.come Mon will she be be able.to hold up well .. | ||||
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JiaJun_88
Member |
27-Apr-2021 21:17
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https://www.theedgesingapore.com/capital/results/mapletree-commercial-trust-posts-186-growth-fy20202021-dpu-949-cents | ||||
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Joelton
Supreme |
26-Apr-2021 11:36
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Mapletree S-Reits grow and diversify
WHAT started out over 20 years ago in 2000, to hold non-port properties transferred from PSA Corporation to Temasek Holdings, was the establishment of Mapletree Investment Pte Ltd (Mapletree). Since then, Mapletree a leading Singapore-based real estate development, investment, capital and property management group, has significant representation in the Singapore Reit market.
According to its annual report (as at March 31, 2020), Mapletree now owns and manages S$60.5 billion worth of office, retail, logistics, industrial, data centre, residential and lodging properties in 13 markets across the Asia-Pacific, Europe, the United Kingdom and the United States. Of its S$60.5 billion assets under management (AUM), about 70 per cent are third-party managed assets under a cluster of four listed S-Reits, that form over a fifth of Singapore Reits & Property Trusts' sector market capitalisation, and six private equity real estate funds. Its third-party managed AUM has also grown over five times in the last decade.
FY19/20 (financial year ended March 31, 2020) marked the first year of Mapletree' s third five-year plan. Despite challenges posed by the pandemic in 2020, Mapletree' s revenue for FY19/20 rose to S$3,877 million, with profit after tax and minority interests registering a total of S$1,778.5 million and return on equity at 11.2 per cent.
In its private funds, Mapletree has made acquisitions and divestments over its last financial year as part of capital management and recycling activities, and will continue to seek out properties for fund syndication such as commercial properties in China, India and Europe, and in student accommodation.
In the listed space, its four S-Reits are Mapletree Logistics Trust (MLT listed in 2005), Mapletree Industrial Trust (MIT listed in 2010) , Mapletree Commercial Trust (MCT listed in 2011), and Mapletree North Asia Commercial Trust (MNACT listed in 2013). MLT, MCT and MIT joined the Straits Times Index in 2019 and 2020, and all four S-Reits are constituents of the iEdge S-Reit Leaders Index and the FTSE EPRA Nareit Global Real Estate Index Series.
Mapletree' s four listed S-Reits have a combined market capitalisation exceeding S$25 billion and distribution yield ranging from 3.9 to 5.7 per cent. The four S-Reits each have different mandates in industry sub-segments and geography, ranging from logistics, industrial and data centres to commercial and retail across Singapore, Asia, the US and Australia.
MLT reported full year FY20/21 results with distribution per unit (DPU) increasing 2.3 per cent year-on-year to 8.326 cents and higher gross revenue and net property income of 14.3 per cent and 13.8 per cent year-on-year respectively. MLT' s AUM increased by S$1.9 billion to S$10.8 billion at March 3, 2021, from acquisitions in China, Vietnam, Australia, Japan, South Korea and India. Its overall portfolio occupancy has improved to 97.5 per cent in Q4 FY20/21 with average rental reversion of 2.4 per cent and a weighted average lease expiry of 3.6 years. The Reit expects overall leasing demand in its markets to remain resilient and notes that the leasing market in Singapore has stabilised with tapering new supply while demand has benefitted from e-commerce growth.
MNACT released full year FY20/21 results with gross revenue and net property income increasing 10.4 per cent and 5.2 per cent year-on-year respectively. FY20/21 DPU of 6.175 cents was 13.3 per cent lower year-on-year due to Covid-19 impact and was cushioned by acquisitions in Japan and South Korea in H2 FY20/21. MNACT' s AUM of S$7.9 billion across 12 properties held a steady overall portfolio occupancy rate of 97.0 per cent. The Reit will continue to focus on active asset management and accretive acquisitions to achieve greater portfolio diversification and aims to keep an active and prudent approach on capital management.
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moron101
Supreme |
30-Mar-2021 15:35
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Going to catch up CICT liao 👍 👍 | ||||
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Joelton
Supreme |
25-Mar-2021 09:28
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Mapletree raises 507 million euros for its first European office fund
MAPLETREE Investments has raised 507 million euros (about S$816 million) at the closing of its first European office fund, it said on Wednesday.
The third-party fundraise for Mapletree Europe Income Trust (MERIT) was about 1.5 times covered, with participation from new and repeat investors comprising pension funds, insurance companies, investment companies, asset managers and private banking clients.
MERIT' s portfolio consists of seven Grade A offices with a total net lettable area (NLA) of about 270,000 square metres (sq m) at a total asset value of 1.2 billion euros (S$1.93 billion).
Located in key European and United Kingdom (UK) cities, the buildings host tenants from varying sectors including technology, media, healthcare and pharmaceuticals. The regional cities include Manchester, Bristol, Aberdeen, Warsaw, Munich, Dublin, and Utrecht. The portfolio has a weighted average lease expiry of 6.8 years, backed by " high occupancy" .
The trust has a target internal rate of return (IRR) of 12 per cent, which Mapletree hopes to achieve through yield and growth.
According to Mapletree, moderate levels of new developments, low Grade A vacancy rates and above average levels of pre-leasing could mitigate demand risks brought about by Covid-19. It also expects office areas to recover at a faster rate than the rest of Europe on average.
In a press statement, Hiew Yoon Khong, Mapletree' s group chief executive officer, said that since 2015, when Mapletree expanded beyond Asia and entered markets such as Europe, UK and the United States, the group has nearly doubled its assets under management and has grown its funds under management by 50 per cent.
" Investors of MERIT will benefit from a robust and stable income stream generated from a portfolio of high quality European commercial assets, anchored by long lease profiles."
Mapletree will retain a 27 per cent stake in MERIT, which would align itself with investor interest, it said. This is similar to its approach with other Mapletree-sponsored private funds, and Mapletree' s four Singapore-listed real estate investment trusts.
MERIT has a term of five years with provision for two, one-year extensions. It will make distributions on a semi-annual basis in euros.
The trust will be managed by Mapletree Real Estate Advisors Pte Ltd, a wholly-owned subsidiary of Mapletree. MERIT will be Mapletree' s fourth fully seeded fund and 11th private equity fund.
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JiaJun_88
Member |
02-Feb-2021 10:22
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https://www.dbs.com.sg/treasures/aics/templatedata/article/recentdevelopment/data/en/DBSV/012021/MCT_SP_01282021.xml | ||||
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JiaJun_88
Member |
29-Jan-2021 21:37
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Results just came out on Wednesday looking very good! Only a 2% fall in NPI from pre-covid - the onboarding of MBC 2 has greatly strengthened MCT' s portfolio income. $2.09 now is a steal at 1.2x P/B valuation. Vested for the long run. Huat ah! |
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actan99
Master |
08-Jan-2021 22:05
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Congratulations to those that is still holding , Instead of hearing those " short term noises" . |
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WhereI
Master |
30-Nov-2020 09:23
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This is a buy | ||||
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Joelton
Supreme |
30-Nov-2020 09:08
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Mapletree Commercial Trust
On Nov 25, Mapletree Commercial Trust Management non-executive director Hiew Yoon Kwong acquired 250,000 units of Mapletree Commercial Trust for a consideration of S$520,000, at S$2.08 per unit.
Mr Hiew maintains a 0.15 per cent total interest in Mapletree Commercial Trust. He is also the executive director and group chief executive officer of the sponsor, Mapletree Investments Pte Ltd.
Mapletree Commercial Trust' s portfolio comprises five properties in Singapore - four of which are located in the Greater Southern Waterfront (HarbourFront and Alexandra Precincts) and one in the Central Business District.
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moron101
Supreme |
19-Nov-2020 13:29
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Both CICT & MCT are weak today. Why? Profit taking? | ||||
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