REITS

REITS: UOBKH reiterate Overweight on the sector
-SG saw strongest tourist arrivals for the mth of Jan on record
-Jan '16 was also record breaking for Chinese tourist arrivals (+62.3% y/y), and expected to persist in Feb amid CNY holidays
-Indonesia, largest source of tourists for SG, reversed a 17-month declining trend to post a 5.4% y/y growth
-tourist arrivals from Msia, India and Australia also recorded positive growth
-strong tourist growth and resilient hotel occupancy to to drive RevPAR

*Top picks: Ascott REIT (TP: $1.39), CDL Hospitality Trust (TP: $1.64), Frasers Hospitality Trust (TP: $0.97)