Analysts Coverage

Analyst Reports

Research House	Date	Recommendation	Target Price	Download
RHB	10 October 2022	Neutral	SGD0.55	Proposed Divestments – Slightly Positive
DBS	4 October 2022	Buy	SGD0.70	Insights Direct Company Note
Soochow Securities	15 August 2022	Buy	SGD0.72	Rental escalations, Top-ups stabilize performance
DBS	12 July 2022	Buy	SGD0.70	A bargain despite refinancing hurdles
RHB	27 June 2022	Neutral	SGD0.55	Onerous Loan Refinancing Terms
DBS	17 May 2022	Buy	SGD0.70	Attractive yield should more than offset surprise compensation payment
DBS	24 Feb 2022	Buy	SGD0.85	Organic growth to the rescue
DBS	10 Nov 2021	Buy	SGD0.90	Insights Direct Company Note
DBS	10 Aug 2021	Buy	SGD0.90	Resilient logistics portfolio offering > 7% yield
DBS	24 Feb 2021	Buy	SGD0.80	Wuhan back in business
RHB	12 August 2020	Buy	SGD0.76	Steady As It Goes; Keep BUY
Soochow Securities	11 August 2020	Buy	SGD0.87	Steady as she goes
Phillip Securities	11 August 2020	Buy	SGD0.87	Income visibility from master leases
KGI	03 July 2020	Outperform	SGD0.73	No need for panic
KGI	14 May 2020	Outperform	SGD0.73	Normalcy with an added sprinkle of caution
RHB	14 May 2020	Buy	SGD0.76	Defensive Master Leases, Resilient In Logistics
DBS	14 May 2020	Buy	SGD0.80	Business as usual
Phillip Securities	05 Mar 2020	Buy	SGD0.827	Protected by master leases
RHB	02 Mar 2020	Buy	SGD0.78	Near-Term Headwinds; Long-Term Outlook Intact
KGI	02 Mar 2020	Outperform	SGD0.82	Somewhat immune, but some sniffles expected
Soochow Securities	02 Mar 2020	Buy	SGD0.88	Resilience amid COVID-19 outbreak
DBS	28 Feb 2020	Buy	SGD0.80	E-commerce catching the flu?
KGI	25 Nov 2019	Outperform - Initiation	SGD0.84	E-Commerce taking over the World
DBS	11 Nov 2019	Buy	SGD0.86	Netting another e-commerce asset
Soochow Securities	8 Nov 2019	Buy	SGD0.91	Transitional quarter, new pipeline revealed
Phillip Securities	8 Nov 2019	Buy	SGD0.87	Against FX headwinds
Phillip Securities	8 Aug 2019	Buy	SGD0.87	Operationally stable
RHB	8 Aug 2019	Buy	SGD0.82	Another Stable Quarter Barring FX Impact; BUY
Soochow Securities	7 Aug 2019	Buy	SGD0.91	Upcoming boost from acquisition
Phillip Securities	14 May 2019	Buy	SGD0.87	An accretive acquisition and longer WALE
RHB	14 May 2019	Buy	SGD0.85	Accretive Acquisition Of FEC; Keep BUY
Soochow Securities	13 May 2019	Buy	SGD0.93	ROFR acq boosting growth and portfolio quality
DBS	12 May 2019	Buy	SGD0.86	Proposed acquisition of Fuzhou E-commerce enhances yield
Phillip Securities	01 Mar 2019	Buy	SGD0.85	Optimistic about the outlook
Soochow Securities	25 Feb 2019	Buy	SGD0.89	Strengthened portfolio; imminent asset injection
RHB	25 Feb 2019	Buy	SGD0.84	Master Leases Extended Until 2024; Keep BUY
DBS	21 Feb 2019	Buy	SGD0.86	Boon from e-commerce boom
RHB	08 Jan 2019	Buy	SGD0.81	E-Commerce Logistics + 9% Yield; Initiate BUY
CGS CIMB	04 Dec 2018	Non-rated	-	EC World REIT Unique e-commerce landlord
Fund Supermart	30 Nov 2018	Non-rated	-	EC World REIT: Leverage On China's Burgeoning E-Commerce Industry With This REIT!
Soochow Securities	8 Nov 2018	Buy	SGD 0.88	Resilient core operations; inorganic opportunities
Phillip Securities	5 Nov 2018	Buy	SGD 0.82	The landlord in e-commerce
KGI	29 Oct 2018	Not Rated	–	Site Visit Note
RHB	24 Oct 2018	Not Rated	–	Visit Note: Master Lease Assets Ramping Up
Soochow Securities	8 Aug 2018	Buy	SGD 0.88	Boosted by maiden acquisition
Soochow Securities	14 May 2018	Buy	SGD 0.88	1Q18 tax drag; rising visibility on acquisition roadmap
Soochow Securities	16 Apr 2018	Buy	SGD 0.88	Prime Beneficiary of Hangzhou Logistics Boom 杭州物流飞速�'展的主要受益方
Phillip Securities	19 Mar 2018	Not Rated	–	Foothold in Hangzhou’s specialised logistics arena