A stable quarter despite challenges ■ MCT's 9MFY22 NPI of S$291.3m (+5.6% yoy) came in line with our forecast.■ Lower rental rebate and lease pre-termination compensation boosted 9MFY22 revenue.■ Upgrade to Add. MCT is trading at a more palatable valuation. Lower rental rebates boosted 9MFY22 revenue and NPI Mapletree Commercial Trust's (MCT) 9MFY22 revenue of […]

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