SINGAPORE (Oct 31): OCBC Investment Research is keeping its “buy” recommendation for Mapletree Greater China Commercial Trust but lowering its fair value estimate to $1.15, from $1.18 previously.
Taking into account expectations of lower occupancy and net property income (NPI) margin at MGCCT’s Gateway Plaza, the research house cut its distribution per unit (DPU) forecasts for FY17 and FY18 by 3.6% and 4.3%, respectively.
MGCCT posted a 2.4% decline in DPU to 1.765 cents for 2Q17 as gross revenue fell 1.9% to $83.1 million and NPI dropped 3.2% to $67.3 million.
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)
