HSBC Global Research: European Utilities
Date: 23 November 2011
Language: English
Pages: 96
詳細內容如下:

Investment summary 5
Summary of key changes 10
Industry outlook 16
Valuation framework for developers and REITs 30
What are the developers and REITs pricing in? 34
Companies 39
CapitaLand (CAPL) 40
City Developments (CIT) 43
Keppel Land (KPLD) 46
Overseas Union Enterprise (OUE) 49
CapitaMall Trust (CMT) 52
Ascendas REIT (AREIT) 55
CapitaCommercial Trust (CCT) 58
Suntec REIT (SUN) 61
Mapletree Industrial Trust (MIT) 64
Mapletree Commercial Trust (MCT) 67
CDL Hospitality Trusts (CDLHT) 70
Frasers Centrepoint Trust (FCT) 73
Sabana REIT (SSREIT) 76

APPENDIX I
Price performance 79
APPENDIX II PB Charts 83
APPENDIX III REITs fee
structure 87
Disclosure appendix 92
Disclaimer 95



HSBC Global Research - Inflation-linked Bonds
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