Tuesday, December 17, 2013

Viva Industrial Trust

Viva Industrial Trust: CIMB initiates and says it is a proxy for Singapore’s progress into higher value-added services. The house also highlights this as a long term growth segment, with embedded master lease/ rental support to ensure mid-term cashflow stability. Summit Group (key shareholder for VIT), Ho Lee Group (sponsor) and United Engineers will be/ have granted ROFRs to VIT on industrial assets in Singapore and logistics facilities in Korea, potentially adding over 2.3m sf of GFA to initial portfolio. CIMB has an Add rating with target price of $0.87

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