Maybank Kim Eng stays positive on S-Reits in 'conservation mode'
Singapore
MAYBANK Kim Eng (Maybank KE) has maintained its positive outlook on Singapore real estate investment trusts (S-Reits) that are now focusing on capital retention, with a sector bias towards industrial Reits and US office S-Reits.
"Slower leasing amidst uncertain (macroeconomics) should challenge near-term occupancies and rents, but cash-flow visibility remains strong, especially for industrial Reits, backed by rising overseas contributions and offices, with low expiring leases and positive reversions into 2020," wrote Maybank KE analyst Chua Su Tye in a research note on Tuesday.
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