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DBS calls MPACT&rsquo s valuations attractive, reinstates coverage with &lsquo buy&rsquo
DBS Group Research on Wednesday (Sep 14) called Mapletree Pan Asia Commercial Trust : N2IU -1.04% (MPACT) an &ldquo opportunity not to be missed&rdquo as it expects the real estate investment trust (Reit) to be a beneficiary of further recovery when Hong Kong and China reopen.
The Asia-focused Reit is trading at a yield above 5 per cent, offering an attractive yield spread as the third-largest Singapore-listed Reit (S-Reit), DBS said in a report.
It has reinstated its coverage on the counter with a &ldquo buy&rdquo call and target price of S$2.30, implying a potential upside of 20.4 per cent on MPACT&rsquo s last trading price of S$1.91 as at 4.08 pm on Wednesday. Its units were trading 1 per cent or S$0.02 lower at the time.
MPACT is currently trading at 1 time its net asset value, slightly above the mean of the weighted average historical trading range of Mapletree Commercial Trust (MCT) and Mapletree North Asia Commercial Trust (MNACT).
MCT and MNACT merged to form MPACT in August by way of a trust scheme. MNACT was later delisted from the Singapore Exchange.
The potential divestment of non-core assets in Japan and China could allow the Reit to review and optimise its portfolio. This means MPACT will be able to focus on good-quality assets in its core market &ndash Singapore, raising its net property income contributions in the process.
Its retail assets VivoCity and Festival Walk will likely benefit from further recovery when Hong Kong and China reopen further. The Reit could even deliver a 2-year distribution per unit compound annual growth rate of 7 per cent, assuming a full recovery for both assets and other assets remain stable.
fundamentally turning better.
hk is giving out free voucher to spend in oct.
china covid-19 reported by western media like very no good. but in real the lock down is not overall. it is selective in area where it happen and in 3 categories according to seriousness.
singapore covid-19 open up has seen more people returning to work. cbd area jam is back in peak hours. office and retails benefits.
hope it can break 1.94 and stay above.
dyodd
hk is giving out free voucher to spend in oct.
china covid-19 reported by western media like very no good. but in real the lock down is not overall. it is selective in area where it happen and in 3 categories according to seriousness.
singapore covid-19 open up has seen more people returning to work. cbd area jam is back in peak hours. office and retails benefits.
hope it can break 1.94 and stay above.
dyodd
There should be 2 entries if it is credited to your bank account.
whereru ( Date: 27-Aug-2022 05:06) Posted:
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No. Received 3.04c on 25th Aug as expected
whereru ( Date: 27-Aug-2022 05:06) Posted:
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I only received $0.0002 dividend still missing $0.0302 dividend, anyone same issue?
Sorry, typo....MPACT.
Haha, I quickly checked my account.
See nothing then I realised Is MNACT not MAPCT.
MAPCT clean up dividend to be paid on 25 Aug only.
See nothing then I realised Is MNACT not MAPCT.
MAPCT clean up dividend to be paid on 25 Aug only.
bystander1965 ( Date: 19-Aug-2022 19:01) Posted:
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Today I received clean up div for MNACT (why was thread removed?). The amount is correct but it was titled keppel corp. I thought I bought KC on one of my sleep walk episodes. 😂 Not sure whether it was the bank's or sgx's mix up as KC paid their div today also.
LOL.....get u. 
Tipster88 ( Date: 03-Aug-2022 17:14) Posted:
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One day after CD is only post merger... contribution from MNACT will only start from there on...
Hahaha.......111/365 x 10.18 = 3.096.
We getting 3.04......a little below estimate actually.
We getting 3.04......a little below estimate actually.
Tipster88 ( Date: 02-Aug-2022 10:30) Posted:
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👍
Tipster88 ( Date: 02-Aug-2022 10:30) Posted:
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The advance DPU is for a period of 111 days, Q1 + 20 days.... so it' s a little tad more than usual... it' s about 2.5c for Q1 based on simple maths....
DPU 10.18c after merger is what' s stated in the terms...
DPU 10.18c after merger is what' s stated in the terms...
Actually 3.02 for Q1 is very good. I was expecting between 2.5 to 3 closer to 2.5 actually.
The best it has done for half a year was around 5.2-ish.
So this one if annualised will be 12? The best it has done has been just shy of 10.
Of course I am just trivalising the matter to annualise like this. But second half includes Xmas/New Year/CNY period. Hmmm....
The best it has done for half a year was around 5.2-ish.
So this one if annualised will be 12? The best it has done has been just shy of 10.
Of course I am just trivalising the matter to annualise like this. But second half includes Xmas/New Year/CNY period. Hmmm....
It will just follow MCT' s schedule (actually similar to MNACT also) since it' s just a renaming of MCT into MPACT.
Any idea where is the next distribution after the clean up distribution? Back to normal schdule, i.e., every June and November or will there be a new distributino date after becoming MPACT?
You are right. Cockeyed. Mistook 19/7 as 19/8 and just took it as the payout date. 😆
PiRPiR ( Date: 01-Aug-2022 21:34) Posted:
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Payable 25th Aug
bystander1965 ( Date: 01-Aug-2022 20:10) Posted:
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.002 for jul1 to 20jul. So 0.0304 total.
bystander1965 ( Date: 01-Aug-2022 20:07) Posted:
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0.0302 on the way. Payout 19aug.