EarningsVivoCity turned in a stellar performance with NPI growth of 1.4% yoy and positive rental reversion of 16.9%.
Interest RatesThe REIT remains one of the prime beneficiaries of an interest rate cut, especially when benchmark rates in HK and SG remain on a declining trend.
ValuationMapletree Pan Asia Commercial Trust (MPACT) is an undervalued quality S-REIT, with yields in excess of 6.0%, which is close to 1% higher spread vs large cap S-REITs.