SINGAPORE (Nov 1): Deutsche Bank is maintaining Manulife US REIT (MUST) at “buy” saying valuations are attractive after the REIT fell as much as 7.9% during the week on concerns over sustainability of its US tax structure.

Deutsche says the key worries revolve around the tax deductibility of interest income related to shareholder loans and upcoming IRS revisions.

In a Thursday report, lead analyst Man Chien-Fie believes MUST’s current structure “should be able to maintain most if not all of its tax transparency and while it is expected that there will be regulations and clarifications to the existing law, the research house does not anticipate a major revision”.

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