In a Friday report, OCBC lead analyst Andy Wong highlights improved occupancy and firm rental reversions for the trust’s properties over the latest quarter, with robust improvements in Festival Walk’s tenant sales and footfall for FY18.
SINGAPORE (Apr 27): OCBC and CIMB are reiterating their “buy” and “add” recommendations on Mapletree Greater China Commercial Trust (MGCCT) with a fair value and target price of $1.42 and $1.30, respectively.
This comes after MGCCT’s manager on Wednesday declared an available DPU for FY18 for 7.481 cents, up 1.9% from a year ago after factoring a 4Q18 DPU of 1.904 cents, which is down 2.8% from the previous year due to a reversal in VAT payable.
