Recent Reports

  • Frasers Centrepoint Trust: Reaping the fruits post AEI

    Tan Dehong | Phillip Securities Research Pte Ltd | Apr 26, 2018
    • NPI and DPU within our estimates.
    • Positive rental reversion of 9.1% in 2Q18, driven by Causeway Point (CWP).
    • Financing costs stable, despite having only 56% of debt on fixed rate.
    • Overall portfolio tenant sales down 1.2% YoY, excluding Northpoint City North Wing.
    • Maintain Neutral with unchanged DDM-derived target price of S$2.14.
  • Cache Logistics Trust: Bear with the initial pain of portfolio rebalancing strategy

    Richard Leow | Phillip Securities Research Pte Ltd | Apr 26, 2018
    • Gross revenue and DPU were within our expectation
    • Gross revenue and DPU met 24% and 24% respectively, of consensus FY18 estimates
    • Key events after the reporting period are the conversion of CWT Commodity Hub (April 12) and the pending divestment of Hi-Speed Logistics Centre
    • Maintain Accumulate; unchanged target price of $0.91
  • Mapletree Industrial Trust: Portfolio of stability and diversification

    Richard Leow | Phillip Securities Research Pte Ltd | Apr 25, 2018
    • Gross revenue and DPU in line with our forecast
    • Full quarter contribution from JV of 14 US data centres in 4Q FY17/18
    • Maintain Neutral; lower target price of $2.09 (previously $2.15)
  • CapitaLand Commercial Trust: Armed and equipped for interest rate hikes

    Tan Dehong | Phillip Securities Research Pte Ltd | Apr 25, 2018
    • NPI and DPU within our estimates.
    • Continued recovery in Grade A office rents, up 3.2% QoQ in 1Q18.
    • Minimal lease expiries left for 2018 (5% by gross rental income, GRI).
    • Fully refinanced debt due in 2018. Increase in funding costs our only major concern.
    • Upgrade to Accumulate with increased TP of S$1.88 (from S$1.80).
  • Ascendas REIT: Positioned to benefit from upswing

    Richard Leow | Phillip Securities Research Pte Ltd | Apr 24, 2018
    • Gross revenue and DPU in line with our forecast
    • 880 cents DPU for 2H FY17/18 vs. 7.845 cents in 2H FY16/17 (+0.45% YoY)
    • Portfolio remains stable in terms of valuation, occupancy and aggregate leverage
    • Maintain Accumulate; higher target price of $2.91 (previously $2.89)
  • See All

Technical Pulse

See All

Market Watch

Market Watch: 2018 Q2 Crude Oil Market Outlook

PhillipCapital | April 26, 2018 See All Videos

Market Overview

Get access to all the latest market news, reports, technical analysis
by signing up for a free account today!