KIM ENG'S STOCK TAKE - Money Mind

KIM ENG'S STOCK TAKE: Based on MasterCard’s survey, this year’s Great Singapore Sale drew a total spend of $1.2b, up 28% from last year. Consumer spending is likely to be resilient for the rest of the year, which bodes well for the retail industry. With sponsor CMA looking to acquire between $800m and $1b of assets in 2H10, we reckon CMT may selectively chip in with an equity stake.BUY with target price of $2.23.