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'Underweight' call on industrial Reits (Amended)

Maybank Kim Eng maintains rating, citing market of sub-normal demand but high supply

Published Fri, Apr 10, 2015 · 09:50 PM

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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