Brokers' take

Singapore Post Ltd | Hold Oct 12 close: S$1.265 Target price: S$1.22 Maybank Kim Eng, Oct 11

SingPost opened its new retail mall, SingPost Centre on Oct 9, 2017, after two years of redevelopment. This has doubled its gross retail floor space to 269,000 sq ft and net lettable area to 178,000 sq ft. It has achieved a healthy occupancy rate of 80.4 per cent, helped by its convenient location, next to Paya Lebar MRT interchange station.

It is set to invigorate Paya Lebar Central, which is rapidly transforming into a major commercial hub under the Urban Redevelopment Authority's master plan. The mall houses up to 130 stores, including leading brands in fashion, dining, entertainment, fitness and children's enrichment. SingPost Centre is managed by CapitaLand under a contract.