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Mapletree Commercial Trust is growing stronger with this ‘rare gem’

Jude Chan
Jude Chan10/31/2016 01:21 PM GMT+08  • 2 min read
Mapletree Commercial Trust is growing stronger with this ‘rare gem’
SINGAPORE (Oct 31): DBS Group Research is keeping its “buy” recommendation for Mapletree Commercial Trust and raising its target price to $1.62, from $1.58 previously.
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SINGAPORE (Oct 31): DBS Group Research is keeping its “buy” recommendation for Mapletree Commercial Trust and raising its target price to $1.62, from $1.58 previously.

The research house is raising its distribution per unit (DPU) forecasts by 2-4% for the next two years, which translates to DPU growth of 7-10% from the pre-acquisition level in FY16.

MCT saw DPU grow 1.5% to 2.05 cents for 2Q, as revenue rose 23.6% to $88.1 million from higher contributions from VivoCity, Mapletree Anson and PSA Building, as well as new contribution from Mapletree Business City Phase 1 (MBC 1) that was acquired in August.

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