Singapore Stock Market News

Starhill Global REIT - Strong quarter, Singapore shines

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Publish date: Mon, 29 Apr 2013, 05:46 PM
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Starhill Global REIT's 1Q13 saw overall occupancy rate rising to 99.7%. Singapore was the star performer, led by strong occupancy and positive rental reversions, including a 10% rise in Toshin master rent. Overseas performance was mixed, with Chengdu still affected by the softening China retail market.

1Q13 DPU, at 27% of our full-year number, was slightly above consensus and our forecasts. Factoring in the Toshin lease uplift and higher assumed occupancy and rental, we raise our FY13-15 DPUs and DDM-based target price on a lower discount rate of 7.7% (previously 7.9%). Maintain Neutral, with acquisitions, AEIs and stronger rental growth as catalysts.
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Peter Chen

The Man Who Brings Water to Bath YTL Corporation's Francis Yeoh
http://aseantradinglink.blogspot.com/2013/08/the-man-who-brings-water-to-bath-ytl.html

2013-08-06 20:58

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