logistics

OCBC raises confidence in Mapletree Logistics Trust on strong YTD performance, bright prospects

SINGAPORE (Mar 7): OCBC Investment Research is maintaining “buy” on Mapletree Logistics Trust (MLT) while raising its fair value estimate to $1.50 from $1.40 to assume lower cost of equity (COE).

This comes as the research house rolls forward its valuations while ascribing a COE of 7.5% in light of a more conducive interest rate environment, offset in part by a lower terminal growth rate assumption of 2%.

ST Logistics partners NTUC, NUS to drive skills-upgrading of local logistics workforce

SINGAPORE (Jan 31): ST Logistics has signed two company-to-institution memoranda of understanding (MoUs) with NTUC LearningHub and the National University Singapore as part of its aim to upskill Singapore’s logistics workforce.

A signing ceremony was held between all three entities at Toll City today.

The first MoU with NTUC LearningHub marks the start of skills-upgrading efforts between NTUC LearningHub and ST Logistics.

EC World REIT started at 'buy' by RHB on China's booming e-commerce and logistics sectors

SINGAPORE (Jan 9): RHB Research is initiating a “buy” call on EC World REIT with a target price of 81 cents.

Currently, the REIT has seven logistics assets in China catering to the thriving e-commerce, logistics and supply chain segment that are well-positioned in future growth segments.

In a Tuesday report, analyst Vijay Natarajan says, “As its properties largely cater for domestic consumption, we see minimal impact from the US-China trade war and could potentially benefit from the Government’s push to boost domestic growth.”

This undervalued REIT's acquisition spree has only just begun, according to DBS

SINGAPORE (Dec 7): DBS Vickers Securities reiterates its “buy” call on Mapletree Logistics Trust (MLT) with a target price of $1.50, which is derived based on an assumed 3% risk free and 50bps higher funding costs than current levels.

The research house’s target price is notably above the consensus average of $1.35, as it believes the street has yet to factor in improved fundamentals post MLT’s recent acquisitions, nor the trust’s potential to surprise on the upside organically and through more acquisitions.

SingPost reports 40.4% lower 1Q earnings on fair value loss & higher taxes; declares 0.5 cent dividend

SINGAPORE (Aug 3): Singapore Post (SingPost) reported 1Q FY18/19 earnings of $18.7 million, down 40.4% from $31.4 million a year ago due to an exceptional fair value loss on warrants from an associated company as well as higher tax expenses.

Revenue for the quarter grew 3.3% to $372.3 million from the restated 1Q FY17/18 revenue of $360.5 million, driven mainly by a 67.1 % increase in operating profit under the Property segment due to rental income from the SingPost Centre retail mall as committed occupancy improved.  

Thakral Corp's 1H18 earnings rise 50% to $4 mil on higher revenue

SINGAPORE (Aug 2): Thakral Corporation reported a 50% rise in 1H18 earnings to $4 million compared to its earnings of $2.7 million a year ago. This came on the back of strong revenue growth from both its core businesses, investment and lifestyle.  

For the 2Q ended June, Thakral posted $1.7 million in earnings, up 45% from $1.2 million in 2Q17.

Revenue for 1H18 grew 18% to $84.1 million from $71.4 million in the previous year.

Ascendas REIT's UK foray presents a 'wealth of opportunities', says DBS

SINGAPORE (July 27): DBS Vickers Securities is maintaining its “buy” call on Ascendas REIT (A-REIT) with an unchanged target price of $3 on news of the trust’s first foray into Europe with its plans to acquire a portfolio of 12 UK logistics properties for $373 million.

US-China trade spat to have limited impact on Mapletree Logistics Trust's earnings, says OCBC

SINGAPORE (June 21): OCBC Investment Research is maintaining its “buy” call on Mapletree Logistics Trust (MLT) with a lower fair value estimate of $1.34 compared to $1.44 previously, after raising its discount rate assumption to 8.2% from 7.8%.

This stems from OCBC adopting a more conservative stance on the REIT, in view of uncertainties and negative sentiment surrounding ongoing trade tensions between the US and China.

This logistics trust presents attractive risk-reward opportunities amid the volatility, says OCBC

SINGAPORE (June 7): OCBC Investment Research is maintaining its “buy” call on Hutchison Port Holdings Trust (HPHT) with a lower fair value of 37.5 US cents compared to 43 US cents previously after updating beta assumptions, which has resulted a higher cost of equity of 10% from 8.8% before.

What a bigger foothold in China means for Mapletree Logistics Trust

SINGAPORE (Apr 30): OCBC Investment Research is maintaining its “buy” recommendation on Mapletree Logistics Trust (MLT) with a lower fair value of $1.44 from $1.48 previously to account for a lower distribution of divestment gains from 7 Tai Seng Drive.

This comes post the release of the REIT’s 4Q18 results, which met the research house’s expectations for both the quarter and full year.

See: Mapletree Logistics Trust posts 4.1% increase in 4Q DPU to 1.937 cents

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