REIT

CapitaMall Trust (CMT SP, $1.89, TP $2.32, BUY) –CMT has declared an FY10 DPU of 9.24 cts. This is on the back of a 5.9% yoy growth in its net property income, while the amount available for distribution grew by 8.1% to $304.9m, in line with our expectations. For prudence sake, CMT will retain $10.1m for distribution in FY11. With forward yields of at least 5.2% and rising, CMT could be an alternative inflation hedge. Reiterate BUY. (UOB Kay Hian, 21-Jan-2011)