Posted: 17 Jan 2017 05:40 PM PST
The local market will likely continue to be wary of US policy risks as Trump takes an increasing strident view over trade, with the latest charge that the yuan is making dollar too expensive.
Regional bourses opened in negative territory in Tokyo (-0.5%), Seoul (-0.6%) and Sydney (-0.7%).STI remains overbought with psychological support at 3,000 level and topside resistance at 3,040.
Stocks to watch:
*CCT: 4Q16 DPU jumped 10.1% to 2.39¢, taking FY16 payout to 9.08¢ (+5.3%), meeting estimates. For the quarter, revenue and NPI surged to $89.7m (+32.7%) and $70.8m (+35.4%), boosted by the acquisition of the remaining 60% stake in CapitaGreen in Sep '16 (4Q15: 40% stake). Portfolio occupancy remained healthy at 97.1% (3Q16: 97.4%), with aggregate leverage unchanged at 37.8%. NAV/unit at $1.78.
*First REIT: 4Q16 DPU of 2.13¢ (+1.9%) grew at a slower clip to distributable income ($16.5m, +5.1%), due to the issuance of new units. This brought FY16 payout to 8.45¢ (+2%), in line with estimates. For the quarter, growth in revenue ($27m, +5.1%) and NPI ($26.7m, +5.2%) was mainly lifted by the Kupang Property, acquired in Dec '15. Aggregate leverage stood at 31.1% (+1.1ppt q/q). NAV/unit at $1.01.
*GLP: Another co-investor of its US Income Partners III fund has made its initial capital contribution of US$26m, representing 8.1% of the aggregate capital contributions to-date. Following this third syndication, GLP's interest in the fund has been reduced to 74.1% from 82.2%.
*Lippo Malls Trust: Terminated a JV with First REIT to acquire Siloam Hospitals Yogyakarta (SHYG) and retail mall Lippo Plaza Jogja (LPJ). The parties intend to resume talks after AEI works on LPJ is completed, and upon SHYG obtaining required licenses for operations by end-2017.
*Next-Gen Satellite Communications: Entered 55:45 JV with AR Evans Financial to provide investment management, economic publication, investment research and fund raising activities.
*Huationg Global: Formed 40:60 JV with construction peer Samwoh, to participate in a BCA tender.
*Sen Yue: 50% owned SMC Industrial entered into an agreement to purchase a Singapore property located at No 3 Jalan Pesawat for $7.3m.
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