CCT

CCT: UOBK maintains Buy , lifts TP to $1.88 (from $1.75) . Notes CCT has been seeing keen interest in CapitaGreen ,with up to 50% of space available under negotiations. Believes that mgt is on track to reach its target of 50% pre commitments , at rentals of $12-14 psf pm by completion in end '14. The two other major completions in 2014 - South Beach and Westgate Tower are also seeing avid tenant interest with 60% of available space at South Beach under negotiations. Meanwhile, UOBK sees more upside ahead, as CCT fills vacant space at its major buildings including Capital Tower, 6 Battery Road and One George Street. Office rental growth has been accelerating , up 5.1% q/q in 1Q14, to $10.25psfpm, from 2.1% growth in the previous quarter.