ARA LOGOS Logistics Trust has emerged relatively unscathed from the Covid-19 outbreak and subsequent lockdown measures, as strong demand for logistics assets pushes up Singapore occupancy, note analysts after the release of the company’s 1H2020 results on Jul 28.

Present in Singapore and Australia, ARA LOGOS Logistics Trust (ALLT) is a REIT whose investment mandate is to invest primarily in logistics properties located in the Asia-Pacific region. Previously known as Cache Logistics Trust, the transfer of ARA Asset Management’s entire stake in the REIT manager and 10.3% shareholding to LOGOS on Apr 28 saw the REIT renamed to ARA LOGOS Logistics Trust. While ALOG continues to be the majority shareholder, LOGOS serves as the REIT’s exclusive logistics real estate platform with $9.4 billion-worth of assets under its management as of Dec 2019. 

While the company’s 1HFY20 revenue declined 1.4% y-o-y to $57.8 million and NPI fell 0.7% y-o-y to $43.9 million, CGS-CIMB analysts Eing Kar Mei and Lock Mun Yee say there has been “minimal impact from Covid-19 so far” on the company, with an improving outlook on lower supply and increasing demand.

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