Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-CIMB upbeat on Mapletree Logistics

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STOCKS NEWS SINGAPORE-CIMB upbeat on Mapletree Logistics Mar 30th 2012, 03:09 Thu Mar 29, 2012 11:09pm EDT Growth in Asia's logistics sector will drive demand for portfolios of Mapletree Logistics Trust (MLT) in the medium term, CIMB said, highlighting the firm as its preferred pick in the industrial Real Estate Investment Trust sector. "Year-to-date, MLT has already achieved close to S$400 million of acquisitions, surpassing our earlier forecast of S$300 million. We believe there is more to come as management had earlier guided it is likely to buy assets from its sponsor this year," the broker said in a note. CIMB was upbeat on growth prospects in the three countries - Malaysia, Japan and South Korea - in which MLT recently acquired assets. CIMB raised its acquisition assumptions for 2012 to S$500 million and expects 70 percent of the funding by perpetual securities and the remainder by debt. "Within the industrial REIT space, MLT is our preferred pick for its limited volatility and predictable cash flows supported by long lease tenures and MNC tenants," CIMB said. Out of 15 brokers tracking MLT, 13 have a buy or strong buy and two have a hold rating, Reuters data shows. To read a statement, click 1100 (0300 GMT) (Reporting by Anshuman Daga in Singapore; anshuman.daga@thomsonreuters.com) ******************************************************** 08:49 STOCKS NEWS SINGAPORE-Singapore index futures fall Singapore index futures dipped 0.38 percent, indicating a weak start for the benchmark Straits Times Index . Seoul shares opened slightly lower with shipbuilders leading declines, while Japan's Nikkei edged lower as investors locked in profits on Friday. 0844 (0044 GMT) (Reporting by Mark Tay in Singapore; mark.tay.thomsonreuters.com) Link this Share this Digg this Email Reprints

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