Broker Name: OCBC Group Research
Date of Report: 6 February 2026
Excerpt from OCBC Group Research report.
Report Summary:
- Global equities fell sharply, led by technology and materials sectors in the US and Asia; volatility spiked and commodities like silver and oil saw significant declines.
- CapitaLand China Trust (CLCT) reported a 20.5% YoY drop in core FY25 DPU, with weak near-term outlook due to lower retail and business park performance, prompting a fair value cut and rating downgrade to SELL.
- Management is seeking new retail asset acquisitions and divestments to replace lost income; leverage rose, but debt cost eased slightly and logistics parks outperformed other segments.
- CLCT’s forward distribution yield appears attractive relative to peers, but the muted DPU outlook leads to the view that units are fundamentally overvalued.
- The report also provides summaries and recommendations for other major Singapore-listed stocks and REITs.
Above is an excerpt from a report by OCBC Group Research. Clients of OCBC Group Research can be the first to access the full report from the OCBC website: https://www.ocbc.com
