Mapletree Logistics

Mapletree Logistics: Cimb upgrades to Outperform from Neutral, ups TP to $1.01 vs $0.89; cites improved demand for logistics space in MLT's key markets & positive rental renewals for the rest of 2010. Notes, aggressive growth plans ready to take full flight given $1bn acqn pipeline from sponsor Mapletree Investments, capability in taking on high-yield devt projects. Adds strong recovery this year in warehouse demand in Spore, HK driven by surge in mfg activity, improvement in external trade.