SINGAPORE - Shares of Singapore's largest office landlord CapitaCommercial Trust gained as much as 6.3 per cent on Wednesday after the firm said its full-year distribution per unit increased 26 per cent.
CapitaCommercial Trust said on Tuesday its full-year 2008 distribution increased 26 per cent from 2007 to 11.00 cents per unit and expects 2009 DPU to reach 12.34 cents.
'CapitaCommercial Trust looks safe from its results announced yesterday,' said a local dealer.
Brokerage firm CIMB maintained CapitaCommercial Trust's rating at 'outperform' on Wednesday and raised its target price to S$1.12 from S$1.08.
'Refinancing nightmares in 2009 should ebb with S$650 million of debts refinanced earlier this month,' said CIMB analyst Janice Ding, adding that CapitaCommercial Trust is confident of refinancing its remaining S$116 million due in June 2009.
By 0828 GMT, CapitaCommercial Trust rose by 5.7 per cent to S$0.925.
The benchmark Straits Times Index fell by 1.25 per cent. -- REUTERS
Source:Business Times
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