CapitaLand Integrated Commercial Trust
Handle with extreme care any Reit mergers should CapitaLand, Mapletree merge
Don’t risk destroying value of leaders CapitaLand Integrated Commercial Trust and CapitaLand Ascendas Reit
CapitaLand Integrated Commercial Trust’s H2 DPU rises 9.4% to S$0.0596
Distributable income up 16.4% at S$449 million
CICT to develop, own commercial component of mixed-use Hougang Central site
The trust gains an ‘attractive entry yield’ with an expected yield on cost of more than 5%
CICT to divest Bukit Panjang Plaza for S$428 million
The sale is being undertaken to optimise the Reit’s portfolio and to give it greater financial flexibility
Genting scion to refresh Zouk in ‘multimillion dollar’ revamp; Clarke Quay lease extended
The renovation will take place in Q1 this year, with reopening targeted for June
S-Reits set for best year since 2019 with 14.7% total returns in the year to date
Of the 33 iEdge S-Reit Index constituents, 29 posted positive total returns in the year to date
CICT’s Q3 net property income rises 1.6% to S$294.4 million
Its NPI for the year to date edges up 0.2% to S$874.2 million
CICT overtakes Hong Kong’s Link Reit to become Asia’s largest real estate investment trust
A main factor behind this is the strength of the Singapore dollar, which has gained 5.7% against the greenback so far this year
What would a CapitaLand-Mapletree merger mean for S-Reits in their respective stables?
Combining Clar and MIT could excite the market, but a merger of CICT and MPACT could be trickier to pull off
Owning more of Ion Orchard and some of Jewel Changi Airport will boost CICT’s retail exposure and attractiveness
The manager could also sell Six Battery Road to reduce its office exposure
