News by Michelle Zhu

Maybank Kim Eng is reiterating its “buy” call on UOL as its top sector pick, raising its price target to S$8.30 from S$7.93.

City Developments announced S$85.5 million in earnings for the 1Q ended March, 18.9% lower than the S$105.3 million it posted in the same quarter a year ago.

Hatten Land reversed to a loss of RM74.2 million for the third quarter ended March 31.

ARA Asset Management, the Singapore manager of REITs, is said to be eyeing the purchase of 320 Pitt Street, a major tower located in Sydney’s central business district which is being sold by a fund managed by Propertylink Group.

1Q17 real estate transaction volumes in the UK have hit their highest level since 2015, driven by Asian investors whose confidence remains undeterred even in the face of uncertainties regarding Brexit.

The manager of Manulife US REIT has announced a distribution per unit (DPU) of 1.65 US cents (2.3 Singapore cents) for the first quarter ended March 31, exceeding its projected DPU of 1.52 US cents by 8.6%.

The trustee manager of CapitaLand Commercial Trust (CCT) has entered into an agreement to divest One George Street into a concurrently-formed limited liability partnership – One George Street LLP (OGS LLP), which CCT has established with joint venture partner OGS (II), a special purpose vehicle owned by insurer FWD Group.

The manager of Mapletree Logistics Trust (MLT) has declared a distribution per unit (DPU) of 1.86 Singaporean cents for 4Q16/17, 3.3% higher from 1.80% in the same quarter a year ago.

“FCT is in a strong negotiating position with tenants who want a presence in the north where the group has close to 75% market share of retail malls.”

RHB has downgraded its call on CapitaLand Commercial Trust (CCT) from “buy” to “take profit”, recommending investors to lock in profits and re-enter at lower levels now that the units of the trust are currently hovering close to the research house’s target price of S$1.68, which remains unchanged.