Brokers' take

CapitaLand Mall Trust Hold DBS Group Research | July 1 July 1 close: S$2.17 Target price: S$2.20

AS WE approached the last day of operations at Funan, the detailed redevelopment plan has yet to be announced.

Based on our assumptions, we forecast that the redevelopment will impact CapitaLand Mall Trust's (CMT) net asset value (NAV) per share by +1 Singapore cent to +5 Singapore cents, and have provided two scenarios based on different combinations of the various components, and believe that adding a serviced apartment and office in the new integrated development will add most value, nurturing an ecosystem of users to the revamped retail offering.