SINGAPORE (Aug 4): RHB is remaining “neutral” on CapitaLand with a target price of $3.90, after the real estate group’s 2Q17 results came in line with the research house’s estimates.
In a Friday report, analyst Vijay Natarajan says the group’s recurring income is set for a boost, with the planned opening of eight malls in 2017 as well as expansions via management contracts.
Three Raffles City Malls in China began operating recently with near-full occupancy rates, he adds, while CapitaMall Westage in Wuhan also opened in April with a committed occupancy rate of 93%, all of which Natarajan sys would lift recurring income from the group’s China segment.
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)