CapitaLand Mall Trust - CGS-CIMB Research 2018-09-28: Good Prospects From Funan

CAPITALAND MALL TRUST (SGX:C38U) | SGinvestors.io CAPITALAND MALL TRUST SGX:C38U

CapitaLand Mall Trust - Good Prospects From Funan

  • Positioned as Singapore’s first online-and-offline shopping mall, Funan has differentiated offerings to attract tenants and shoppers.
  • To date, it has received 60- 70% signed and advance negotiation leases.
  • We believe Funan has no issue in filling up its occupancy. But we maintain our HOLD call on the stock due to limited catalysts.



Attended Funan Topping Out Ceremony

  • We attended Funan’s Topping Out Ceremony this morning. The event was held at Funan Showsuite located on Hill Street, Singapore, and was officiated by the Guest of Honor Mr Heng Swee Keat, the Minister of Finance of Singapore.


~ SGinvestors.io ~ Where SG investors share

Bringing forward the opening date

  • To recap, Funan DigitaLife Mall which was a shopping centre primarily known for shops selling computers and other electronic gadgets, has been closed since the 3Q2016 for construction to transform it into a creative hub. ~ S G investors . io ~ Where SG investors share
  • Today, Funan celebrated its 2020 to 4Q2019.


A smart building which focuses on work, live and play

  • CapitaLand Mall Trust showcased a range of digital retailers to tap consumer insights.  ~ S G investors . io ~ Where SG investors share
  • As for its serviced residence, tenants can expect an all-in app which allows social networking, room bookings and also serves as a mobile key.
  • Funan will be the first to deploy automated guided vehicles to provide shoppers with a hands-free shopping experience. It will also be the first to utilise a robotic arm for its 24-hour drive-through click-and-collect service. 
  • Other than smart technologies, Funan will also offer a cycling path through the building at Level 1, eSports Zone, futsal court and the largest rock-climbing facility in CBD in the building.


Maintain HOLD

  • All in, we like the tenants.
  • To date, leases signed and in advanced negotiations for Funan’s retail and office components have reached 70% and 60%, respectively.
  • Maintain HOLD due to limited catalysts. We have factored in the expected contribution from Funan.





EING Kar Mei CFA CGS-CIMB Research | LOCK Mun Yee CGS-CIMB Research | https://research.itradecimb.com/ 2018-09-28
SGX Stock Analyst Report HOLD Maintain HOLD 2.210 Same 2.210



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