Singapore Stock Market News

CapitaLand - Creating More Opportunities

StockFanatic
Publish date: Wed, 24 Jun 2015, 10:10 AM
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The sale of 30% stake of PWC Building by CapitaLand to DBS Group values the office building at SGD1,406 psf. We maintain our BUY recommendation on CapitaLand with an unchanged TP of SGD4.20. We think the divestment is mainly to unlock value and recycle its capital into higher yielding projects. There will be no material impact on our RNAV estimates given that the office building constitute only a small portion of the company's overall portfolio.
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