Mapletree North Asia Commercial Trust (MNACT)

“We continue to recommend investors to adopt a balanced approach towards investing in the sector."

Units in MNACT closed flat at 92.5 cents on September 29.

Despite a negative business update and headwinds in its outlook, MNACT is still a "buy"

The manager of Mapletree North Asia Commercial Trust (MNACT) says its financial and operational performances have continued to be impacted by the ongoing Covid-19 outbreak, particularly in Hong Kong.

The manager of Mapletree North Asia Commercial Trust (MNACT) says that the loss of retail and office revenue during Festival Walk’s closure in Hong Kong will be covered under insurance policies.

As Singapore gradually reopens from its circuit breaker measures, DBS analyst Derek Tan and its Singapore research team believe that retail REITs are the “preferred” sector due to earlier-than-anticipated mall openings.

Retail sales were struggling even before “circuit breaker” measures were implemented on April 7.

Although MNACT registered stark declines across several financial metrics, OCBC believes the worst is over, and that sequential improvements are in the pipeline.

Although Festival Walk had suffered "extensive damage" amid the Hong Kong protests, it is set to reopen its doors on Thursday - some five months earlier than expected.

SINGAPORE (Dec 6): DBS Group Research is cutting its target price for Mapletree North Asia Commercial Trust (MNACT) by 18.8% to $1.30 on the back of lower rental reversion assumptions for key asset Festival Walk.