Stock Name: LippoMapleT
Company Name: LIPPO-MAPLETREEINDORETAILTRUST
SIAS Research in an Aug 26 research report says: "LMIRT is the only S-REIT listed in the SGX that provides exposure to the Indonesian retail market. Following the LMIRT's May 23 news release, Lippo Karawaci had announced plans to inject $2.4 billion of mall assets over the next three years with LMIRT having the first right of refusal.
"We like LMIRT for (1) its access to acquisitions through its sponsor which we believe will have a positive impact, (2) the outlook in the retail sector in Indonesia, and (3) large gap between NAV and its current price.
"We conduct our valuations using the DDM as S-REITs have a 90% distributable income payout mandate. Intrinsic value of 79.5 cents, representing a price-value gap of 44.5% over its current price of 55 cents. INCREASE EXPOSURE (initiating coverage)."
Company Name: LIPPO-MAPLETREEINDORETAILTRUST
| Research House: SIAS | Price Call: BUY | Target Price: 0.795 |
SIAS Research in an Aug 26 research report says: "LMIRT is the only S-REIT listed in the SGX that provides exposure to the Indonesian retail market. Following the LMIRT's May 23 news release, Lippo Karawaci had announced plans to inject $2.4 billion of mall assets over the next three years with LMIRT having the first right of refusal.
"We like LMIRT for (1) its access to acquisitions through its sponsor which we believe will have a positive impact, (2) the outlook in the retail sector in Indonesia, and (3) large gap between NAV and its current price.
"We conduct our valuations using the DDM as S-REITs have a 90% distributable income payout mandate. Intrinsic value of 79.5 cents, representing a price-value gap of 44.5% over its current price of 55 cents. INCREASE EXPOSURE (initiating coverage)."
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