---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000858247.md"
description: "$CapLand IntCom T(C38U.SG)C38U (CICT): Strong Results, But Price MattersCapitaLand Integrated Commercial Trust (C38U) delivered a solid 1H 2026: gross revenue rose 7.5% to S$846.8m, NPI 8.7% to S$630.5m, while distributable income jumped 13.3% to S$466.7m. DPU increased 7.1% to 6.02 cents, despite a 5.8% larger unit base. (SGX Links⁠)Fundamentally, CICT remains defensive: occupancy was 95.6%, retail/office rental reversions were +4.0%/+6.5%, gearing improved to 37.4%, and interest coverage strengthened to 3.9x. Paragon, acquired in July, provides an additional growth catalyst. (SGX Links⁠)Valuation is the sticking point. At around S$2.43, annualised DPU of ~12.04 cents implies roughly a 5.0% yield, while NAV is S$2.15—meaning units trade at about 1.13x NAV. Analyst targets cluster around S$2.69–S$2.80, offering moderate upside. (Beansprout⁠)Technically, C38U remains constructive: RSI was neutral at 55.8, MACD positive, with price above its 20-, 50- and 200-day moving averages. (TipRanks⁠)Verdict: Invest in tranches, not chase. Consider an initial 30–40% position around S$2.40–2.45, adding on weakness toward S$2.30–2.35. The fundamentals justify ownership, but valuation limits the margin of safety.Not financial advice."
datetime: "2026-08-18T00:15:13.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000858247.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000858247.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000858247.md)
author: "[FaithAnchor](https://longbridge.com/en/profiles/24833348.md)"
generator: "portal-rs"
---

# $CapLand IntCom T(C38U.SG)C38U (CICT): Strong Resu…


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**