KUALA LUMPUR (Jan 25): Maybank Investment Bank Bhd Research has maintained its Hold call on CapitaMalls Malaysia Trust (CMMT) and raised its target price to RM1.37 from RM1.34.
In a note Wednesday, Maybank IB Research said CMMT’s 2011 realised net profit of RM110.9 million came in as expected, adding that 2011 dividend per unit (DPU) of 7.9sen was also in line.
“CMMT has grown its asset size by 31% to RM2.8 billion since its listing in July 2010 with the Gurney Plaza Extension and East Coast Mall (ECM) acquisitions.
“Potential earnings catalysts could come from the reconfiguration of outdoor car park lots at ECM into retail spaces. Hold,” it said.
In a note Wednesday, Maybank IB Research said CMMT’s 2011 realised net profit of RM110.9 million came in as expected, adding that 2011 dividend per unit (DPU) of 7.9sen was also in line.
“CMMT has grown its asset size by 31% to RM2.8 billion since its listing in July 2010 with the Gurney Plaza Extension and East Coast Mall (ECM) acquisitions.
“Potential earnings catalysts could come from the reconfiguration of outdoor car park lots at ECM into retail spaces. Hold,” it said.
