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CapitaLand Retail China's proactive management to boost performance

PC Lee
PC Lee4/30/2018 03:03 PM GMT+08  • 2 min read
CapitaLand Retail China's proactive management to boost performance
SINGAPORE (Apr 30): Phillip Securities is upgrading CapitaLand Retail China Trust (CRCT) to “accumulate” with an unchanged target of $1.66 given stable DPU outlook, positive rental reversions from the Wangjing and Rock Square malls and with zero debt
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SINGAPORE (Apr 30): Phillip Securities is upgrading CapitaLand Retail China Trust (CRCT) to “accumulate” with an unchanged target of $1.66 given stable DPU outlook, positive rental reversions from the Wangjing and Rock Square malls and with zero debt expiring this year.

CRCT’s management has demonstrated proactive mall management with the Wangjing AEI and the successful lifting of Xinnan’s yield on cost from 5.4% at acquisition to current 6.3% as targeted.

“We expect CapitaMall Wangjing’s successful AEI where more than 20 lifestyle retail and gourmet stores to open from 2Q18 and Rock Square’s fine-tuned tenant mix post-acquisition to sustain tenant sales,” says analyst Tan Dehong in a Monday report.

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