0518 GMT - Mapletree Logistics Trust exploring redevelopment options for a Singapore asset could be an early step towards raising its net-asset value, says DBS Group Research's Derek Tan in a note. The Singapore real-estate investment trust extended the lease and license of a key tenant at the asset by nine months. The short lease extension should preserve Mapletree's rental income from the asset, the analyst says. Potentially selling the property to the REIT's sponsor would likely require independent valuation, which should allow the REIT to capture any underlying land appreciation. DBS maintains its buy rating and target price of 1.55 Singapore dollars. Units are flat at S$1.10.