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Phillip Capital is maintaining CapitaLand at "accumulate" with a target price of $4.19 as divestment gains tripled in FY17 on its active portfolio recycling strategy.

"We like CapitaLand''s quality of earnings which have become more recurrent in nature," says analyst Tan Dehong.

Brokerage PhillipCapital said listing the Africa operations would provide Bharti with “significant ammunition” to fight price wars in India. Bharti’s ability to monetise its Africa operations, it said, would not only provide a big war chest, but also send a signal to competition about its ability to sustain low tariffs for longer periods.

Phillip Capital is maintaining its "equal weight" recommendation on the Singapore industrial REIT sub-sector given the rental market is expected to remain soft and renewal rates stay negative even with the tapering of new supply this year.

Industrial REIT managers have expressed varying degrees of optimism with some believing rents to bottom in 1H18, while others believe it to bottom in 2H18, says the research house.

In a Monday report, analyst Richard Leow says the uncertainty lies in the exact bottom for rents, but believes it should take place by end-2018.

A-Living Services'' Shares Fall In Hong Kong Gray Market Debut:

HONG KONG (Feb 08) -- Shares of A-Living Services fell at gray market venues in Hong Kong on Thursday ahead of their debut on the city''s main board after the property management services provider raised HK$4.1 billion ($524.5 million) gross proceeds in an initial public offering.

The shares closed 11.5% lower at HK$10.88 at a pre-initial public offering trading platform run by Phillip Securities, compared with its IPO price of HK$12.30 apiece. It had fallen as low as HK$10.76 during the session. On a platform operated by Bright Smart Securities, A-Living''s shares fell 11.7% to HK$10.86. About 4.04 million shares changed hands at the Phillip Securities venue, compared with 1.7 million shares on Bright Smart''s platform.

The company plans to use proceeds from the offering for investment and acquisitions, developing its service platform and meeting working capital needs.