Broker Name: CGS International
Date of Report: February 2, 2026

Excerpt from CGS International report.

Report Summary

• Mapletree Pan Asia Commercial Trust (MPACT) reported a 3Q/9MFY26 DPU of 2.05/6.07 Scts, in line with forecasts, supported by strong Singapore portfolio performance, especially at VivoCity and Mapletree Business City, with robust occupancy and positive rental reversions.
• Overseas markets, notably Festival Walk in Hong Kong and China properties, continued to face headwinds from negative rental reversions and soft tenant sales, but MPACT is actively managing lease risks, divesting non-core assets, and focusing on financial flexibility and ESG improvements; the stock is maintained at an Add rating with a target price of S\$1.52 and an estimated FY26-27F DPU yield of around 5.5%.

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.cgsi.com.sg/