Singapore Stock Market News

Mapletree Logistics Trust - Another stable quarter

StockFanatic
Publish date: Tue, 21 Jan 2014, 11:54 AM
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MLT's 3QFY14 results were in line with consensus and our expectations, with this quarter's DPU accounting for 26% of our full-year forecast and 9MFY14 for 76%. Revenue for the quarter grew 1% yoy, mainly a result of the weakening of the yen. During FY13/14, MLT hedged/derived more than 95% of its distributable income in SG$.

We maintain our Hold rating with an unchanged DDM-based (discount rate: 8.1%) target price of S$1.11, as the REIT continues to seek opportunities to boost its earnings.
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