Stock Name: Starhill Gbl
Company Name: STARHILL GLOBAL REIT
DBS Vickers Securities in a Dec 6 research report says: "SGREIT's two retail malls - Starhill Gallery and Lot 10 - have a strong foothold in KL's prominent Bukit Bintang shopping district. After completing Starhill Gallery's AEI, its modern iconic facade will cement its cr'me de la creme position.
"Occupancy rates at both malls are >95%. The government's efforts to rejuvenate Bukit Bintang will have positive impact on the malls. Construction of a new MRT station located adjacent to Lot 10 will start next year, and is expected to be ready in 4-5 years.
"AEI works at Wisma Atria will be completed in 3Q12, and underpin FY12 earnings growth. SGREIT is now trading at attractive 0.6x P/BV, and offers 7.4%-7.7% DPU yields for FY11/12. Target price of 76 cents. MAINTAIN BUY."
Company Name: STARHILL GLOBAL REIT
| Research House: DBS Vickers | Price Call: BUY | Target Price: 0.76 |
DBS Vickers Securities in a Dec 6 research report says: "SGREIT's two retail malls - Starhill Gallery and Lot 10 - have a strong foothold in KL's prominent Bukit Bintang shopping district. After completing Starhill Gallery's AEI, its modern iconic facade will cement its cr'me de la creme position.
"Occupancy rates at both malls are >95%. The government's efforts to rejuvenate Bukit Bintang will have positive impact on the malls. Construction of a new MRT station located adjacent to Lot 10 will start next year, and is expected to be ready in 4-5 years.
"AEI works at Wisma Atria will be completed in 3Q12, and underpin FY12 earnings growth. SGREIT is now trading at attractive 0.6x P/BV, and offers 7.4%-7.7% DPU yields for FY11/12. Target price of 76 cents. MAINTAIN BUY."
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