Cache Log Trust: Has successfully completed a private placement of 60m shares to raise $59.1m, of which 61% will be used to acquire Pan Asia Logistics Centre and 36% to partially repay existing debt.
Macquarie maintains O/p, TP $1.18, improved gearing, more headroom for acquisitions, catalyst wld be yield-accretive acquisitions in the next 6-12 months and improvement in the global macroeconomic environment. Top pick within the industrial space remains Mapletree Industrial Trust (O/p, TP: $1.45), in view of its solid DPU growth of 18.8% in FY12E.
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