Broker Name: CGS International
Date of Report: October 23, 2025
Excerpt from CGS International report.

Report Summary

• Mapletree Pan Asia Commercial Trust (MPACT) faces headwinds from its overseas assets, with weak rental reversions in China and Japan, while its Singapore portfolio, led by VivoCity, remains resilient and delivers positive rental growth and occupancy rates.
• The trust reported 2Q/1HFY26 distributable per unit (DPU) in line with forecasts, and maintains a stable funding cost and gearing; management reiterates an “Add” rating with a slightly higher target price, citing potential catalysts such as overseas asset recovery and further rate cuts, but flags risks of prolonged overseas weakness.

Above is an excerpt from a report by CGS International. Clients of CGS International can be the first to access the full report from the CGS International website: https://www.cgs-cimb.com