Capitaland Retail China Trust *Official* (SGX:AU8U)

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ocbc securities got report this morning too...

no wonder crct keep up n up last week, insider news sia
 
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Layers said:
U sign up iocbc?

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Click to expand...

iocbc was first brokerage i got... dat time dk abt scb...

CapitaLand Retail China Trust: Sale and purchase agreement for Chengdu Mall









The trustee of CapitaLand Retail China Trust (CRCT) has entered into a sale and purchase agreement to acquire what will be CRCT’s 11th mall, currently known as Galleria, Chengdu for RMB 1.5bn. The mall is located in the Xinnan Tiandi retail precinct of Gaoxin District in the south of Chengdu. The manager expects the acquisition to be DPU accretive, with about 2/3 of the mall’s total rent up for renewal by 2018. Including acquisition-related expenses, the total investment cost for the mall is expected to be about RMB 1,527m (S$310.4m), against which the current NPI yield is 5.4%. The transaction is expected to be completed by the end of the year and will enlarge CRCT’s portfolio size by about 14% to RMB 12,547m (S$2,550.3m). Post-acquisition, CRCT’s gearing ratio is expected to increase to about 37%.
We place our HOLD rating and fair value of S$1.51 under review. (Deborah Ong)
 
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CapitaLand Retail China Trust: Chengdu Mall acquisition







The trustee of CapitaLand Retail China Trust (CRCT) has entered into a sale and purchase agreement to acquire what will be CRCT’s 11th mall, currently known as Galleria, Chengdu for RMB 1.5bn. The management views the mall as a potential core asset, offering a steady contribution within the portfolio. Going forward, the focus will be on improving the F&B tenant mix and reaping cost savings from the property management, which is currently outsourced to a third party. Our fair value increases from S$1.51 to S$1.67 as we update the parameters of our DDM model. Using last week’s closing price of S$1.60, CRCT is trading at a blended FY16/17 distribution yield of 7.7%.
We upgrade CRCT to a BUY from Hold, with an updated fair value of S$1.67. (Deborah Ong)
 
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Took past 6mth closing price data and did some descriptive stats...

Median of Close = 1.4975

Mean of Close = 1.51837

Standard deviation of Close = 0.0673872

It is worth noting that within the 6mth, the mean is shifting upwards (means uptrend).


  • Current price of 1.530 is within +1sd of the 6mth mean.
  • Is a gd proxy for betting for no rate hike... cos i believe it has fallen sharply due to profit taking + fear of rate hike.
  • Recent +ve catalyst is the announcement of acquisition of a china mall.

for buy and hold... If it falls below 1.51 (6-mth mean close), definitely favourable to enter for gd div yield.

Disclaimer: This is not expert opinion.
 
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i finally found an excuse as to why selling pressure is there... new scrip shares were allocated few days ago @ 1.50xx... so ppl happy happy cash in their div while still enjoying the premium. today, buying strength is moderately strong, hope can break 1.6 again soon

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bb jin power la! selll queue thin liao
0dxCMs1l.png


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