CapitaLand Retail China Trust - OCBC Investment 2016-10-03: Completed acquisition of Galleria Chengdu

CapitaLand Retail China Trust - OCBC Investment 2016-10-03: Completed acquisition of Galleria Chengdu CAPITALAND RETAIL CHINA TRUST AU8U.SI

CapitaLand Retail China Trust - Completed acquisition of Galleria Chengdu

  • The trustee of CapitaLand Retail China Trust (CRCT) has completed the acquisition of Galleria, Chengdu, China. 
  • The acquisition will enlarge CRCT’s portfolio size by about 14% to RMB 12,547m (S$2,550.3m). 
  • Post-acquisition, CRCT’s gearing ratio is expected to increase to about 37%. 
  • We view the mall as a potential core asset, offering a steady contribution within the portfolio. 
  • Going forward, the focus will be on improving the F&B tenant mix and reaping cost savings from the property management, which is currently outsourced to a third party. 
  • We maintain our BUY rating with a fair value of S$1.67.




Deborah Ong OCBC Investment | http://www.ocbcresearch.com/ 2016-10-03
OCBC Investment SGX Stock Analyst Report BUY Maintain BUY 1.67 Same 1.670



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