'Underweight' call on industrial Reits (Amended)
Maybank Kim Eng maintains rating, citing market of sub-normal demand but high supply
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Singapore
MAYBANK Kim Eng has issued a report maintaining an "underweight" rating on industrial real estate investment trusts (Reits), as Singapore heads into a market of sub-normal demand but high supply.
Its top "sell" call is Ascendas Reit, because of the Reit's broad-based exposure to the strongly-supplied market. Ascendas Reit is the largest industrial Reit in Singapore, with a market capitalisation of more than S$6 billion and a huge portfolio of more than 100 properties in Singapore.
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