Topic of Interest: #CIMB (131 Articles Found)

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Strong showing for private home prices in 1Q21, ahead of expectations: CGS-CIMB

CGS-CIMB Research analyst Lock Mun Yee has maintained her ‘overweight’ rating for the Singapore property sector after the property price index flash estimate for 1Q2021 showed that private home prices rose 2.9% q-o-q, compared to 2.1% in 4Q2020.…

CIMB Singapore laying off employees, closing Orchard Road branch

CIMB Singapore will lay off employees and shut its branch in Orchard Road following a review of its business and resources. CIMB did not respond to CNA’s queries on how many employees were being let go and when…

Singapore Reits poised for full recovery, says CGS-CIMB

CGS-CIMB believes Singapore Reits are poised for a full recovery on expectations of a continuous improvement in footfall, which would support growth in tenant sales. In a Thurs report, the brokerage singled out three Reits – Frasers Centrepoint…

‘Stable’ home demand set to carry into 2021, support property sector: CGS-CIMB

Buoyed by strong demand for new homes, the property development and investment sector is set to carry “stable” volume demand into 2021 despite the pandemic, says CGS-CIMB Research analyst Lock Mun Yee. Lock is maintaining “overweight” on the…

Returning shoppers signal recovery for Frasers Centrepoint Trust: CGS-CIMB

Shoppers throng heartland malls even on weekdays, say CGS-CIMB, signalling rapid recovery for Frasers Centrepoint Trust (FCT), faster than its peers. The impact of Covid-19 on retail is slowly abating, write CGS-CIMB analysts Eing Kar Mei and Lock…

CIMB bank to maintain mortgage floor rate after customer backlash against plan to raise it

CIMB bank said that it would keep to its mortgage floor rate, after an earlier decision to increase it to 0.9 per cent from 0.1 per cent set off alarm among homeowners who have taken up loans with…

CIMB Singapore customers protest mortgage hike

A group of CIMB Singapore’s mortgage customers has banded together to protest the lender’s decision to raise its floor rate threefold amidst the pandemic. In their recently-launched website HonestMortgage.sg, the group questioned whether any bank in Singapore has…

CIMB Singapore delays mortgage floor rate hike, but customers unmoved

Following a pushback from irate customers, CIMB Singapore will delay the start date – to Jan 1, 2021 – of its higher minimum rate for certain mortgages pegged to Sibor and Sor. The hike in the bank’s floor…

Mortgage customers up in arms over CIMB’s floor rate hike

CIMB Singapore has raised the ire of customers with its move to raise the floor of certain mortgages pegged to the one-month Sibor – with that floor rate now higher than the prevailing market rate. From May 18,…

As REITs pare dividends to conserve cash, which ones should investors buy?

REITs in Singapore have been forced to factor in uncertainties as the Covid-19 outbreak lingers, resulting in a need to conserve cash through lowering dividend payouts. With weaker margins and revenue in the pipelines, CGS-CIMB analyst Eing Kar…

Suntec REIT kept at ‘buy’ as stable office portfolio buoys sluggish retail operations: CGS-CIMB

If 2019 had not been kind to Suntec REIT, the beginning of 2020 doesn’t seem to looking up for the REIT either. Despite the gloomy outlook, CGS-CIMB reiterates its “buy” call. “While we think Suntec REIT’s share price…

CapitaLand Mall Trust outshines peers with strong balance sheet, minimal forex exposure: CGS-CIMB

Although retail REITs have not been immune to the global market sell-off, experts believe that near-term disruptions from the Covid-19 outbreak have already been priced in. In particular, CGS-CIMB Research believes that CapitaLand Mall Trust’s (CMT) valuations have…

Retail REITs could see DPU cut by up to 19% this year, says CGS-CIMB

Reits in the retail space could see a huge dent in their DPU for FY2020 as a result of Covid-19 and the, according to CGS-CIMB Research. This comes after Singapore issued an advisory urging its residents to avoid…

Market sentiment on CapitaLand Mall Trust ‘too pessimistic’, says CGS-CIMB; upgrades to ‘buy’

CapitaLand Mall Trust (CMT) has seen its share price slide on concern over the Covid-19 outbreak in Singapore. From its year-to-date peak of $2.62 on Jan 24 – a day after the first confirmed case in Singapore –…

CGS-CIMB retains ‘overweight’ stance on property sector as sales volume rallies

CGS-CIMB is keeping the Singapore property sector at “overweight” on the back of a 23% month-on-month increase in home sales recorded in Nov. In a flash note on Mon, the brokerage notes that Nov was an “active month”…

Starhill Global REIT poised for stronger income on the back of potential investments: CGS-CIMB

CGS-CIMB Research is keeping its “hold” recommendation on Starhill Global REIT (SG REIT) on expectations of muted near-term growth due to the weak economy. But lead analyst Eing Kar Mei believes a couple of potential investments in the…

Broker’s take: CGS-CIMB says Boustead could launch a Reit in 2020

Boustead Singapore’s industrial real estate unit, Boustead Projects, could be on track for a Reit listing in as early as 2020, as existing projects under development bring its leasehold portfolio asset base to S$1 billion by next year,…

Industrial occupancy rates up 0.3ppt in Q1

This chart from CGS-CIMB shows the 0.3 ppt YoY increase in the occupancy rates and the rental index of the overall industrial property market. According to CGS-CIMB analyst Lock Mun Yee, this supported industrial REITs’ encouraging results in…

Property sector kept at ‘overweight’ by CGS-CIMB as monthly home sales volume picks up in May

CGS-CIMB Research is maintaining the Singapore property sector at “overweight” following a 28% month-on-month increase in home sales volume in May. Some 952 new private housing units were sold in May, 28% higher than in Apr but 15%…

Frasers Property kept at ‘add’ as its recurring income base continues to grow

CGS-CIMB continues to rate Frasers Property Limited (FPL) “add” following the group’s 2Q19 results announcement. Last Fri, the group reported 2Q19 earnings of $120.5 million, 8.3% higher y-o-y, bringing 1H19 earnings to $266 million, 37.2% higher than a…

Developers pin hopes on new projects as residential market stabilises

Primary home sales volume is expected to reach 9,000-10,000 units by end-2019 as Singapore’s residential market attempts to achieve a new normal following last year’s property curbs, according to a report from CIMB. The headline sales figure falls…

Singapore Press Holdings is now anchored by property, not media

Saying they were negatively surprised by the year-on-year decline in media revenue at SPH, CGS CIMB recently said that SPH is now anchored by property. It added that SPH’s media business is still not a pretty sight. “While…

Singapore residential market to remain stable in 2019

Property developers and property services companies expect the residential market to remain relatively stable this year, revealed CGS-CIMB. APAC Realty expects transaction volumes for 2019 to be comparable with that seen last year “due to the sheer number…

Ascendas REIT and ESR-REIT could suffer short-term pains from Hyflux troubles

Hyflux’s default troubles with PUB could spark some short-term pains for Ascendas REIT, which is exposed to Hyflux Building and Hyflux Innovation Centre, and ESR-REIT, which is exposed to 8 Tuas South Lane, CGS-CIMB said in a report.…

Retail REIT recovery drags on amidst sluggish sales and traffic

A quick turnaround for Singapore’s struggling retail REIT sector is largely unlikely to take place as tenant sales and shopper traffic remained dismal in Q3, effectively putting the sector behind stronger office and hospitality REITs, according to CIMB.…

3 developers to ‘add’ as Singapore’s property price momentum slows: CGS-CIMB

CGS-CIMB Research is maintaining its “neutral” stance on Singapore’s property sector post the release of recent URA data, which reflected higher Sept monthly home sales of 944 transactions, up 51% m-o-m and 42% y-o-y. In a Mon report,…

Hotel supply plunges to 10 year low in 2018 as land shortage bites

Singapore’s annual hotel supply is poised to crash to a ten-year low to 281 new rooms that will be coming online by end-2018, according to CIMB Research. This compares an average of around 3,000 rooms per annum in…

Liquidation of Newstead to have minimal impact on REITs

CGS-CIMB Securities continues to rate Singapore REITs as “overweight” following media reports that home-grown electronics retailer Newstead Technologies is currently in liquidation. The affected REITs from the closure of Newstead stores are Capitaland Mall Trust (CMT), Frasers Centrepoint…

Look to diversified developers as property sales slow, says CGS-CIMB

CGS-CIMB Research is keeping its “neutral” stance on property developers amid slowing sales at new launches, following a slew of new property cooling measures introduced in July to curb rising home prices. “As property stocks’ performance has historically…

Why Frasers Centrepoint’s two northern malls are doing well

It’s no wonder why Frasers Centrepoint Trust’s Northpoint City and Causeway Point are two of the biggest malls in the northern region. Given the two malls are well connected to MRTs and bus stations, they have been performing…

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