Home Capital Broker's Calls

MapletreeLog and Cache kept on 'hold' by OCBC in wake of CWT International default

PC Lee
PC Lee4/18/2019 12:34 PM GMT+08  • 4 min read
MapletreeLog and Cache kept on 'hold' by OCBC in wake of CWT International default
SINGAPORE (Apr 18): OCBC is downgrading Mapletree Logistics Trust to ‘hold’ given there could be uncertainties over its longer-term outlook in the wake of the news that CWT International had defaulted on its loans.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Apr 18): OCBC is downgrading Mapletree Logistics Trust to ‘hold’ given there could be uncertainties over its longer-term outlook in the wake of the news that CWT International had defaulted on its loans.

Meanwhile, OCBC is maintaining Cache Logistics Trust at ‘hold’ saying although the REIT should be “okay for now”, the REIT could see some downsizing in its aftermath.

CWT International, a Hong Kong-listed unit of the HNA Group which is facing liquidity challenged, announced on Tuesday that it has defaulted on a HK$1.4 billion ($241.5 million) loan. Securities pledged to the loan facility include CWT Pte Ltd (CWT), which is a wholly owned subsidiary of CWT International.

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)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now