SINGAPORE (Dec 10): OCBC is sticking to its “buy” recommendation and $2.09 fair value estimate on CapitaLand Mall Trust after the real estate investment trust announced plans to redevelop a mall.

The announcement by CapitaLand Mall Trust to redevelop the Funan DigitalLife Mall in downtown Singapore into an integrated complex doesn't surprise OCBC.

The REIT’s “management had previously guided the market that it was exploring options to unlock the value of the mall, and this may come in the form of a redevelopment or divestment,” OCBC says.

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