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Morgan Stanley stated that LINK REIT (00823.HK)  -0.250 (-0.529%)    Short selling $22.20M; Ratio 4.047%   has entered into a non-binding letter of intent on 10 November in relation to the acquisition of 80% interest of Longgang Vanke Plaza and car parks in Shenzhen under CHINA VANKE (02202.HK)  -0.180 (-1.262%)    Short selling $94.83M; Ratio 49.378%   .

The broker believed that the acquisition will pose limited influence on earnings and balance sheet given that the deal was not yet confirmed. However, the northern development of Link REIT may increase risks since the current price of YUEXIU REIT (00405.HK)  +0.040 (+1.044%)    Short selling $2.01M; Ratio 20.115%   and HUI XIAN REIT (87001.HK)  -0.030 (-0.890%)   is equal to 8% of projected dividend yield in 2015, higher than 4% of Link REIT. Hence, Morgan Stanley rated Link REIT as Underweight.

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