Broker: OCBC
Date of Report: 30 April 2026

Excerpt from OCBC report.
Report Summary

• Mapletree Industrial Trust (MINT SP): Downgraded to HOLD. Target price lowered to SGD 2.10 (from SGD 2.34). Main reason: Headwinds from non-renewals in North America, weaker occupancy, and margin assumptions. Management expects further pressure from non-renewed data centre leases and is planning selective divestments in North America. Average debt cost guided higher for FY27. Investors should note the challenging outlook and uncertain macro backdrop.

Above is an excerpt from a report by OCBC. Clients of OCBC can be the first to access the full report from the OCBC website : https://www.ocbc.com