Stock Name: MapletreeLog
Company Name: MAPLETREE LOGISTICS TRUST
OCBC Investment Research in a June 22 research report says: "Mapletree Logistics Trust (MLT) announced on June 17 that it has completed the acquisition of KPPC Pyeongtaek Centre in South Korea. Given the sizeable acquisition, the contribution of South Korea to the total portfolio's gross revenue is expected to increase from 2.7% to 5.6%.
"Assuming that the purchase price and other acquisition costs of the property are fully funded by debt, we estimate that MLT's gearing should increase to about 41.3% in FY2011 from 37.7% in FY2010 (after taking into account all acquisitions and divestments announced to date). Unchanged RNAV-derived fair value of $1.01. MAINTAIN BUY."
Company Name: MAPLETREE LOGISTICS TRUST
| Research House: OCBC | Price Call: BUY | Target Price: 1.01 |
OCBC Investment Research in a June 22 research report says: "Mapletree Logistics Trust (MLT) announced on June 17 that it has completed the acquisition of KPPC Pyeongtaek Centre in South Korea. Given the sizeable acquisition, the contribution of South Korea to the total portfolio's gross revenue is expected to increase from 2.7% to 5.6%.
"Assuming that the purchase price and other acquisition costs of the property are fully funded by debt, we estimate that MLT's gearing should increase to about 41.3% in FY2011 from 37.7% in FY2010 (after taking into account all acquisitions and divestments announced to date). Unchanged RNAV-derived fair value of $1.01. MAINTAIN BUY."
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