Home Capital Broker's Calls

Daiwa upgrades CapitaLand Commercial Trust to 'outperform' from 'sell' on brighter post-merger outlook

Uma Devi
Uma Devi2/11/2020 9:58 AM GMT+08  • 3 min read
Daiwa upgrades CapitaLand Commercial Trust to 'outperform' from 'sell' on brighter post-merger outlook
Lead analyst David Lum opines that a strong y-o-y DPU growth is in the pipelines for the group for FY21-22E, led by the progressive income contribution from CapitaSpring, which is scheduled for completion in 1HFY21.
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.

SINGAPORE (Feb 11): Daiwa Capital Markets has altered its view on CapitaLand Commercial Trust (CCT) by almost 180 degrees, on the back of the REIT standing to benefit on “favourable terms” from its merger with CapitaLand Mall Trust (CMT).

The merger will generate a diversified commercial REIT to be named CapitaLand Integrated Commercial Trust (CICT), with a market capitalisation of $16.8 billion and a combined property value of $22.9 billion.

After obtaining the necessary approvals, the proposed merger is expected to be completed before the end of 2QFY20.

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.