“The favourable resolution of the matter involving the Schenker leases and a rights issuance have also removed the overhang surrounding its high gearing levels and rental disputes,” he adds.
SINGAPORE (Apr 26): Analysts are standing pat on Cache Logistics Trust, despite the REIT posting a 12.5% decline in distribution per unit (DPU) to 1.507 cents for the 1Q ended March.
“With the expected bottoming of rental rates of the [Singapore] logistic sector by 2H18, we believe Cache is also nearing the bottom of the DPU downcycle, which was caused by the imbalance in demand and supply,” says RHB Research analyst Vijay Natarajan.
