Following the anticipated weak 1H20 results of CapitaLand Mall Trust (CMT) that have largely come within expectations, things are looking up for the trust amid signs of broad based recovery.

“The release of one-third of income retained in 1Q20, which was earlier than anticipated, reiterates our view that the worse (sic) is likely over,” DBS analyst Derek Tan and the research team write in a note dated July 23.

“Due to the Phase 2 reopening of the Singapore economy and signs of stabilisation in the number of Covid-19 community cases, we lower our cost of equity assumptions by 43 basis points to 6.3%,” the OCBC Investment Research team writes in a July 22 report.

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