I believe CapitalMall Trust is a long-term strong buy based on the following reasons: 1) Strong Management Team : Since inception, DPU (Distribution Per Unit) has risen by a CAGR of 13.1%. This is attributable to successful active management of the malls under Capitamall Trust through value-creation activities - Refurbishment of the malls, active engagement of shoppers through events such as "Tales of the River at Clarke Quay" to differentiate shopping experience. 2) Upcoming Catalyst : New Funan Digital Mall coming online in Mid 2019 this year that would further boost DPU for Capitamall Trust. Given the rebranding and refurbishment, the rental per sq foot is expected to rise for Capitamall Trust as well, further providing tailwainds to Capitamall Trust. 3) Debt Maturity : Average debt maturity stands at 4.4 years, which seems reasonable and the company is unlikely to face serious cashflow needs in the short term. Even in the need to raise additional debt, the company's A2 credit rating would allow the company to meet its cashflow needs relatively easily. 4) Valuation : Based on DPU oof 11.5 cents, current share price of $2.34/share, Distribution Yield stands at 4.91%. Currently, FTSE Straits Times Real Estate Index 12 month yield stands at 4.5%. Given the high quality asset and strong management team at Capitamall Trust, I believe the company should trade at a premium against FTSE Straits Time Real Estate Index. This would imply a yield below of 4.5%. Given that current yield is higher than that of FTSE Straits Times Real Estate Index, I would believe that it is a good buy.