Retain NEUTRAL with an unchanged target price (TP) of RM1.69
- 1QFY17 earnings within expectations
- Unexciting earnings on sequential basis
- Marginally weaker earnings on yearly basis
- Maintain NEUTRAL with an unchanged TP of RM1.69 1QFY17 earnings within expectations. CapitaLand Malaysia Mall Trust (CMMT) 1QFY17 core net income of RM40.24m was in line with our and consensus expectations, at 24% and 23% of our and consensus full year estimates respectively. Distribution per unit for the quarter is 2.08sen.