Topic of Interest: #MayBank (129 Articles Found)

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Maybank Kim Eng remains ‘positive’ on S-REITs; prefers retail REITs among sector

Maybank Kim Eng analyst Chua Su Tye has kept “positive” on S-REITs though he says he sees heightened volatility ahead for the sector, which could lead to valuations remaining under pressure. S-REITs have retreated by 5% since Jan,…

Maybank KE starts coverage of Keppel Reit, Suntec Reit with ‘sell’ calls

Maybank Kim Eng has initiated “sell” on both Suntec Reit and Keppel Reit. This comes as the research team sees further deterioration and headwinds for the Reits, it said in separate reports. Maybank KE analyst Chua Su Tye…

2 men admit to roles in duping bank into approving $2.84m mortgage loan

Two men admitted in a district court on Mon to their roles in a ruse in which a bank was duped into approving a mortgage loan of $2.84 million. Iswandi Yahya, 38, who was jobless at the time,…

Far East Hospitality Trust finds RevPAR support from lower cost accommodation

Far East Hospitality Trust saw revenue and NPI for the first half of 2020 drop 20.6% year-on-year and 23.1% year-on-year, respectively. DPU also declined 43.4% year-on-year as it retained $5.5 million to provide rental rebates and deferrals to…

CapitaGreen shows strongest rental reversion in Q1

This chart from Maybank shows CapitaGreen with the strongest rental reversion as its committed rents ranged from $11.00-12.20 psf in Q1 as compared to average expiring rents of $9.41 psf. This comes as office REITs reported healthy occupancies…

S-REITs’ income hit by virus crisis

The income and operations of S-REITs in the retail and hospitality sectors could be dented as consumers continue to hold back on shopping and eating outside amidst the COVID-19 outbreak. In order to soften the effects of the…

Far East H-Trust may reduce rents amidst slowing demand: report

Far East Hospitality Trust’s (Far East H-Trust) assets could trade down to their minimum rents, if demand declines by 25-30% as suggested by Singapore’s Tourism Board, according to a report by Maybank Kim Eng. The company’s RevPAR for…

Ascendas REIT remains top sector pick as growth fundamental look up: Maybank Kim Eng

Maybank Kim Eng Research is keeping Ascendas REIT as its top pick among Singapore REITs, after unitholders supported its proposed acquisition of a portfolio of 30 business park properties. The manager of Ascendas REIT had on Nov 1…

Industrial REITs lead Q3 NPI growth amongst S-REITs

Industrial REITs saw the strongest NPI growth at 5-101% YoY in Q3 2019, according to Maybank Kim Eng. This was mainly attributed to higher contributions from earlier acquisitions. Industrial REITs were also noted to be the most active…

Cache Logistics Trust poised to bounce back from weak 3Q19 as fundamentals remain sound

Analysts are positive that Cache Logistics Trust can find its footing again, after stumbling in 3Q19. Cache reported an 11% drop in its DPU to 1.313 cents during the quarter, from 1.475 cents a year ago. This came…

Mapletree Industrial Trust’s DPU could get 2.5% leg up from Kolam Ayer 2 Cluster redevelopment

Mapletree Industrial Trust’s (MIT) DPU could get a 2.5% boost from FY 2023 backed by a stronger 80% rental uplift and the 71% GFA increase brought about by its $263m redevelopment undertaking of Kolam Ayer 2 Cluster, a…

Maybank intends to appoint receivers and managers for Tuaspring assets

Maybank has terminated its collaboration agreement with Hyflux and Tuaspring, and intends to appoint receivers and managers over the assets of Tuaspring apart from the desalination plant and shared infrastructure, Hyflux said in a Singapore exchange filing in…

An airport REIT to finance Changi expansion?

Maybank Kim Eng Research says setting up an Airport REIT could be another way of financing Changi Airport’s expansion – which includes a new T5 and a third runway – costing “tens of billions of dollars”. Such a…

Will Singapore hotels’ four-year slump end in 2019?

Contracting room supply coupled with increasing visitor growth and occupancy has improved Singapore hotels’ growth prospects and could heave the hospitality sector into recovery after a four-year slump, according to analysts. Maybank Kim Eng was optimistic towards the…

Maybank keeps Frasers Centrepoint Trust at ‘buy’ after solid start to FY19

Maybank Kim Eng is maintaining its “buy” call on Frasers Centrepoint Trust (FCT) due to improved occupancies across all of its assets and positive rental reversions. The research house is remaining “positive” on S-REITs sector with a preference…

Hyflux granted third deadline extension in search for Tuaspring buyer

MayBank has granted a third deadline extension to Hyflux in its search for a buyer for the loss-making Tuaspring water and power plant. The creditor deadline will be extended to Dec 28 from Nov 29, Hyflux announced in…

Maybank Singapore eyes wealth business with new Orchard branch

Maybank Singapore is about to begin a new phase as it incorporates locally, 58 years after the bank first began operating in the city-state. Malaysia’s largest bank will have its first presence in Orchard Road, Singapore’s premier shopping…

Banking tenant terminates lease in Ocean Financial Centre

Another tenant in Keppel REIT’s Ocean Financial Centre is terminating its lease, Maybank Kim Eng has found. In a research note, analyst Derrick Heng said the REIT booked another large one-off pre-termination income worth $12m in the second…

Casa Meyfort bought at price 3-4% higher than nearby properties

GuocoLand was unfazed by recent housing market measures after it announced that it bought Casa Meyfort in the East Coast for $319.88m (land rate of $1,580 psf), 6% below the vendor’s asking price of $340m. The land rate…

Were SPH REIT’s rents hit by occupancy costs?

SPH REIT reported lower NPI no thanks to overall negative rental reversions (-6%) from Paragon (-6.2%). Maybank Kim Eng also revealed that management was tight-lipped on rental guidance but explained that tenant negotiations were driven by occupancy cost…

Hyflux has till Oct 15 to find Tuaspring buyer

Maybank, Hyflux’s largest secured lender, has agreed to give the water project developer until Oct 15 to find a buyer and ink a binding purchase agreement for the Tuaspring integrated water and power plant. Hyflux also has to…

Time is ripe for developers as housing demand remains strong: Maybank KE

Maybank Kim Eng is remaining positive on Singapore’s property sector on expectations of the recent home-price rally to continue, with buying opportunities arising from the current share price weakness among developers. In a Mon report, analyst Derrick Heng…

Oxley rallies to be Singapore’s largest home vendor

Following aggressive landbanking in the past year, Oxley Holdings and its partners have obtained an inventory of over 4,000 units worth a combined gross development value (GDV) of $5b. According to Maybank Kim Eng, it now has the…

More tenants pre-commit to rent office buildings

This chart from Maybank Kim Eng shows that due to office buildings’ supply respite over the next few years, new office buildings in Singapore have witnessed strong pre-commitment levels. About 91% of V on Shenton, equivalent to 300,000…

Maybank remains ‘positive’ on S-REITs as industrials are bottoming out

Maybank Kim Eng is remaining “positive” on S-REITs, despite the recent pull-back in share prices against a rising interest rate regime. In a Mon report, analyst Chua Su Tye says, “We see positive earnings momentum led by the…

Properties sold en bloc since 2017 expected to yield 20,000 redeveloped units

This chart from Maybank Kim Eng shows that 5,500 units sold for redevelopment since 2017 are likely to re-emerge as 20,000 units, intensifying redevelopment by 3.7x. These 5,500 units came from Singapore’s en bloc sale fever. Collectively, these…

2 property developers that stand to gain most from 15 residential sites currently up for grabs: Maybank

Maybank Kim Eng Research is reiterating its “positive” stance on Singapore property developers, amid fresh data points which reinforce its predictions of a property price rebound. “New launches this year have achieved significant premiums over comparable projects launched…

The discount to RNAV of this mid-cap developer will shock you

Maybank Kim Eng is maintaining its “buy” on Bukit Sembawang given it is a proxy for the cyclical upturn in Singapore’s residential market, adding this under-the-radar mid-cap developer is attractively priced against the large caps. The earnings of…

Maybank stays positive on Singapore property developers amid mortgage rate hike

Maybank Kim Eng Research is keeping its “positive” rating on Singapore’s real estate sector as property developer stocks are expected to ride on the market’s cyclical upturn. “We see more upside in 2018 as households displaced in the…

Mapletree Commercial Trust started at ‘sell’ on rental reversions slowdown

Maybank Kim Eng analyst Chua Su Tye in a Mon report sees downside risk to market expectations of rental reversion prospects at Mapletree Commercial Trust’s (MCT) VivoCity, as well as its business park and office assets on the…

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