For investors, there are quite a few retail plays to choose from. If buying a retailer is not their fancy, there are the landlords, the retail REITs, too.

CGS-CIMB analyst Eing Kar Mei’s picks within the consumer space are supermarket operators Sheng Siong and Dairy Farm, as well as food court operator Koufu. As for REITs, she likes Lendlease Global Commercial REIT (LREIT) and Frasers Centrepoint Trust (FCT), as both the REITs have a strong presence in Singapore’s suburban areas which are seeing higher shopper traffic as compared to the central areas of Singapore. Eing has “add” calls on the two preferred REITs, with target prices of 85.4 cents for LREIT and $2.83 for FCT.

Although Lendlease is still exposed to the central area of Singapore that depends heavily on tourist traffic, with its 313 @ Somerset mall, it has on Oct 1 announced that it had acquired a 5% stake in Lendlease Asian Retail Investment Fund 3 (LARIF3) — which holds a 75% indirect interest in Jem, one of the largest suburban malls in Singapore. The acquisition stake of 5% translates into an effective 3.75% stake in Jem for LREIT.

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