Key Indices
Top Stories
Company Update | CapitaLand Ascott Trust (CLAS SP/BUY/S$0.83/Target: S$0.99)
- CLAS has recycled capital by deploying divestment proceeds from The Robertson House to acquire the higher-yielding Coliwoo Midtown with an EBITDA yield of 4.1%. The transaction is estimated to be 2.4% accretive to DPU. CLAS has sizeable past divestment gains totalling S$300m, which could be distributed to offset negative impact from ongoing AEIs to stabilise DPU. Maintain BUY. Target price: S$0.99.
Market Spotlight
- US stocks were higher on Monday. All indices rose as materials, communication service and energy sectors gained. There were more advancers than decliners on the NYSE.
- The FSSTI rose 29.51 points to 5,664.33, on the back of strength in Singtel, DBS and OCBC Bank. Both mid- and small-cap indices rose, with a broad market advance on S$1.83b turnover.
Technical Analysis
Singapore Airlines (SIA SP)
- Trading Buy Range: S$6.65-6.66
Parkway Life Real Estate Investment Trust (PREIT SP)
- Trading Sell Range: S$3.97-3.98
Top Stories
Company Update | CapitaLand Ascott Trust (CLAS SP/BUY/S$0.83/Target: S$0.99)
- CLAS has recycled capital by deploying divestment proceeds from The Robertson House to acquire the higher-yielding Coliwoo Midtown with an EBITDA yield of 4.1%. The transaction is estimated to be 2.4% accretive to DPU. CLAS has sizeable past divestment gains totalling S$300m, which could be distributed to offset negative impact from ongoing AEIs to stabilise DPU. Maintain BUY. Target price: S$0.99.
Market Spotlight
- US stocks were higher on Monday. All indices rose as materials, communication service and energy sectors gained. There were more advancers than decliners on the NYSE.
- The FSSTI rose 29.51 points to 5,664.33, on the back of strength in Singtel, DBS and OCBC Bank. Both mid- and small-cap indices rose, with a broad market advance on S$1.83b turnover.
Technical Analysis
Singapore Airlines (SIA SP)
- Trading Buy Range: S$6.65-6.66
Parkway Life Real Estate Investment Trust (PREIT SP)
- Trading Sell Range: S$3.97-3.98
Key Indices
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