Top Stories
Company Results | Mapletree Industrial Trust (MINT SP/HOLD/S$1.93/Target: S$2.07)
7337 Trade Street at San Diego in California with NLA of 499,402sf is currently vacant after lease expiry in May 26. The full impact of the non-renewal would be felt in 2QFY27. Smaller data centres serving enterprise customers accounted for 23.7% of gross rental income. Maintain HOLD on MINT with a target price of S$2.07.
Company Results | Suntec REIT (SUN SP/BUY/S$1.52/Target: S$1.75)
NPI from Suntec City Mall increased 13.6% yoy in 1H26, supported by higher occupancy and completion of AEI. Tenant sales psf rose 5% yoy Aggregate leverage rose 1.4ppt qoq to 43.0% following the redemption of S$150m perpetual securities. SUN’s one-third stake of ORQ has become a potential candidate for divestment. SUN is a beneficiary of tight vacancy in core CDB with the divestment of ORQ on the cards. Maintain BUY with target price at S$1.75.
Market Spotlight
- US stocks were mixed on Friday, with the Dow Jones and S&P 500 rising, while the Nasdaq fell as the real estate, materials and consumer staples sectors rose but there were more decliners than advancers on both the NYSE and NASDAQ.
- The FSSTI rose 6.58pt to 5,588.34, supported by strength in Seatrium and DBS, with both mid- and small-cap indices falling with a broad market advance on S$1.65 b turnover.
Technical Analysis
Jardine Cycle & Carriage | JCNC SP
Trading sell range: S$27.14-27.15
iFAST Corp | IFAST SP
Trading sell range: S$9.39-9.40
Top Stories
Company Results | Mapletree Industrial Trust (MINT SP/HOLD/S$1.93/Target: S$2.07)
7337 Trade Street at San Diego in California with NLA of 499,402sf is currently vacant after lease expiry in May 26. The full impact of the non-renewal would be felt in 2QFY27. Smaller data centres serving enterprise customers accounted for 23.7% of gross rental income. Maintain HOLD on MINT with a target price of S$2.07.
Company Results | Suntec REIT (SUN SP/BUY/S$1.52/Target: S$1.75)
NPI from Suntec City Mall increased 13.6% yoy in 1H26, supported by higher occupancy and completion of AEI. Tenant sales psf rose 5% yoy Aggregate leverage rose 1.4ppt qoq to 43.0% following the redemption of S$150m perpetual securities. SUN’s one-third stake of ORQ has become a potential candidate for divestment. SUN is a beneficiary of tight vacancy in core CDB with the divestment of ORQ on the cards. Maintain BUY with target price at S$1.75.
Market Spotlight
- US stocks were mixed on Friday, with the Dow Jones and S&P 500 rising, while the Nasdaq fell as the real estate, materials and consumer staples sectors rose but there were more decliners than advancers on both the NYSE and NASDAQ.
- The FSSTI rose 6.58pt to 5,588.34, supported by strength in Seatrium and DBS, with both mid- and small-cap indices falling with a broad market advance on S$1.65 b turnover.
Technical Analysis
Jardine Cycle & Carriage | JCNC SP
Trading sell range: S$27.14-27.15
iFAST Corp | IFAST SP
Trading sell range: S$9.39-9.40
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