@SGRatRacer:
$CapLand IntCom T(C38U.SI)$ Is CICT Overpriced at This Stage? Let’s Break It Down! 1️⃣ 1Q Results – A Mixed Bag • Like-for-like NPI saw an uptick, which is good news! • However, overall NPI declined 0.8% YoY, signaling some underlying weakness. • The divestment of 21 Collyer Quay is expected to drag down DPU in the coming quarters. 2️⃣ NAV Snapshot • Last reported NAV: S$2.09 • Based on 1H25 projections, assuming DPU = 5.44 cents (50% of FY24) 3️⃣ Valuation Check • Calculated fair value = NAV + 1Q25 accumulated DPU (2.72 cents) • That gives us: S$2.1172/share • Note: This estimate does not factor in any market discount — something to keep in mind! 4️⃣ My Target Price • TP: S$2.03 • Target timeframe: B