SINGAPORE (Oct 29): Maybank Kim Eng is maintaining its “hold” recommendation of CapitaLand Commercial Trust with $1.25 target price.

In a Wednesday report, analyst Derrick Heng says although CCT lacks catalysts, he believes it is best positioned among its peers to weather an oncoming office supply glut.

“Its exposure to this oversupply is low as only 14% of its office space will be up for renewal in 2016. This compares favourably with 16% for K-REIT and 21% for Suntec REIT,” says Heng.

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