[ET Net News Agency, 22 December 2014] The Link REIT (00823) Manager proposed to expand
investment strategy to permit property development and related activities; and make other
minor amendments to the Trust Deed which do not relate to the proposed expansion.
Macquarie Research said the HK-REITs would have more flexibility in their investment
strategy due to the change in the HK REIT Code, which subsequently became effective from
29 August 2014.
The research house believes Link REIT will benefit most from the REIT code amendments
among the listed H-REITs due to its low gearing of 11% and the largest balance sheet
capacity for development of HK$12.9bn (10% of GAV) as at 30 September 2014.
Macquarie maintained its "outperform" rating on Link REIT, with a price target of
HK$51.9. It believes that accretive asset divestments, potential redevelopments due to
REIT code amendments and an improving capital management strategy should continue to
support the share price in the near term. (KL)
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00823 LINK REIT
Nominal 
32.950 -0.550 (-1.642%) Others
22/12/2014 15:13
[I-bank focus]Link REIT to benefit from REIT code amendments
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