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[SGX] Hot Stock Picks For Successful Trading

OCBC Investment Research is reiterating its "buy" call on Viva Industrial Trust (VIT) with a slightly lower fair value of 79.5 cents compared to 80 cents previously, following news of Jackson International Private Limited (JIPL) filing for liquidation.

JIPL, which provides rental income support for VIT's Jackson Square property, had filed for liquidation due to the inability to continue its business, according to a filing by the trustee-managers of VIT to the SGX on Sunday

The company in Nov 2014 agreed to guarantee about $11.6 million per year in gross rental income for five years, where it would top up the difference between what is contributed by tenants at Jackson Square and the guaranteed amount. Thus far, JIPL has provided rental support of $2.6 million and $1.5 million in 2015 and 2016 respectively.

We do not expect this issue to have a material impact on the financials or distributions for FY17, primarily due to the Rental Support Bank Guarantee of ~$3.87 million, states lead analyst Deborah Ong in a Wednesday note.

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Our Recent Stock Recommendations:
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Stock Recommendations Updates:
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