MapletreeLogTrust

MapletreeLogTrust: Co's employees are safe in Japan and 13 out of 14 buildings in Japan escaped with no damage or minimal damage. The one property affected is Sendai Centre located along the coastal area. Building is intact but affected area has been cordoned off…

Sendai Centre's latest valuation states that the total cost of reinstating building is estimated at $9.0m but manager expects cost of repairs to be lower. Even at maximum of $9.0m, this is approx 0.8c or 0.8% of current price of $0.91, impact should be minimal. Sendai Centre contributes approx 0.7% to co's revenue. Deutsche maintains Buy TP$1.06, highlights stock has corrected by 3% on Fri and offers attractive yield of 6.9% for FY11e...

MS also maintains Overweight and is positive on counter due to increasing trade flows and income stability (64% of rev composed of single-tenanted leases). Stock at 7.3% yield is reasonable and offers Built to Suit projects which is nxt catalyst for price.