Ascendas India Trust

Ascendas India Trust: hmm the placement will change the price and the use of funds will not be factored in. Previous yield was 7.0%. Anyway assuming price stays at $0.78 and factoring in dilution after issuance of additional 139m. The yield falls to 5.9%. Stanchart upgraded the REIT to Outperform from in-line, and is of the view that the placement was well timed. Other news on the REIT, DBS also highlighted the recent positive INR appreciation which will result in upside risks for AIT's distribution. CS however is of the view that INR has on avg through the quarter depreciated against the SGD.