SINGAPORE (Sept 26): OCBC Investment Research is keeping its “hold” recommendation on CapitaLand Commercial Trust (CCT) with a lower fair value estimate of $1.65 from $1.69 previously.
This follows the trust’s announcement last week of its acquisition of Asia Square Tower 2 from BlackRock for a total of $2.15 billion, which the trust intends to fund via equity, debt, and its divestment proceeds from Golden Shoe Car Park, One George Street and Wilkie Edge.
