Home Capital Broker's Calls

CGS-CIMB ups MNACT's TP to $1.13 as REIT reaches an agreement on insurance settlement

Felicia Tan
Felicia Tan11/25/2021 05:40 PM GMT+08  • 2 min read
CGS-CIMB ups MNACT's TP to $1.13 as REIT reaches an agreement on insurance settlement
An interim payment of HK$263 million has been received from the insurers to date.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

As Mapletree North Asia Commercial Trust (MNACT) enters into a settlement agreement with its insurers for Festival Walk, CGS-CIMB Research analysts Lock Mun Yee and Eing Kar Mei have kept “add” with a slightly higher target price of $1.13 from $1.12.

On Nov 24, the manager of MNACT announced that it has settled on an amount of HK$334.3 million ($58.3 million), which comprises HK$84.3 million for property damage and HK$250 million for revenue loss due to business interruption.


See: Mapletree North Asia Commercial Trust to receive insurance settlement of $58.3 million and Broker's Digest: CICT, KORE, SPH, MNACT, Japfa, Far East Hospitality Trust

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now