Gross revenue came in 0.78% higher y-o-y at $88.5 million, mainly due to revenue growth from the all three of the trust’s properties due to higher rent, and lower accrued revenue for Gateway Plaza due to the uncertainty in the applicable VAT rate prior to obtaining clarification in March 2017.
SINGAPORE (Jan 29): DBS is maintaining its “buy” recommendation on Mapletree Greater China Commercial Trust (MGCCT) and raising its target price to $1.40, from $1.30 previously.
This came on the back of the trust announcing its 3Q17/18 DPU of 1.868 cents, 5.1% higher than 1.778 cents in the same period last year, which brought 9M17/18 DPU to 5.582 cents.
