SINGAPORE (July 18): RHB Research continues to rate Viva Industrial Trust (VIT) at “buy” with a 97-cent target price following the trust’s completion of its asset enhancement initiative (AEI) at Viva Business Park (VBP).
In a Tuesday report, analyst Vijay Natarajan notes that VBP’s committed occupancy rate of 95.6% for white space is better than expected, with a differential tenant mix that includes retailer Harvey Norman’s first-ever Singapore factory outlet.
Overall, he expects VBP’s white space to contribute about $7.7 million to the trust’s net property income (NPI), or 9% of total NPI, in FY18F.
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