SINGAPORE (Oct 10): CGS-CIMB Securities continues to rate Singapore REITs as “overweight” following media reports that home-grown electronics retailer Newstead Technologies is currently in liquidation.
The retailer that also operated DigitalStyle, Nubox and @ notebook.com has stores located in Nex, Sim Lim Square, Suntec City, Marina Square, Bedok Mall, City Square Mall, Raffles City, Causeway Point, Jem, Tampines Mall, Waterway Point and Jurong Point.
The affected REITs from the closure of Newstead stores are Capitaland Mall Trust (CMT), Frasers Centrepoint Trust (FCT) and Suntec REIT (see figure 1).
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)