Singapore Stock Market News

Cache Logistics Trust - Maiden Australia acquisitions

StockFanatic
Publish date: Tue, 10 Feb 2015, 01:52 PM
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CACHE announced its maiden Australia venture, with the acquisition of three assets for a purchase consideration of S$73.4m. As the acquisition will be funded by debt, we estimate that CACHE's leverage ratio will rise to 35.7% upon completion. Consequently, we expect DPU to be boosted by 1.6/1.2% in FY15/16. Maintain Add rating, with an unchanged DDM-based target price, as we continue to favour CACHE for its upcoming DHL BTS project.
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