“We went to SASSR’s outlet malls and they were packed,” says lead analyst Lock Mun Yee in a Tuesday report, adding that Sasseur is “the first listed outlet mall REIT in Singapore which offers investors exposure to the most rapidly-growing part of the China retail value chain.”
SINGAPORE (Apr 3): CGS-CIMB Research is initiating coverage on Sasseur REIT (SASSR) with an “add” recommendation and a target price of 92 cents, representing a potential upside of 15%.
This values SASSR at 7.3% FY19F DPU yield, which the brokerage says is still above the average of its comparable peers in Singapore.
