SGRatRacer
05-14

I previously wrote a TP of 2.03 by July, it came earlier than expected. At the time of previous post, price was obviously too optimistic at 2.18, the excitement died off. Now it time for re-entry and accumulate. 


Happy to hear what you think :)

$CapLand IntCom T(C38U.SI)$ $LION-PHILLIP S-REIT(CLR.SI)$  
@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: By July 2025 • This reflects a more conservative outlook, especially considering the income impact from asset divestment.
$CapLand IntCom T(C38U.SI)$ 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: By July 2025 • This reflects a more conservative outlook, especially considering the income impact from asset divestment.

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