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CGS CIMB

UOB KAYHIAN

Keppel REIT

Partially unlocking value in OFC

 

■ KREIT is selling a 20% stake in OFC for S$537.3m.

■ Sale to lift book NAV; use of proceeds includes paring down debt.

■ Maintain Add with TP of S$1.34.

 

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CapitaLand (CAPL SP)

Extending Its Wings

 

We update our model to incorporate the latest data points on Jewel Changi, overseas acquisitions and earlier recognition of China residential sales. New acquisitions include the 16 US multi-family properties, as well as an effective stake of 20.85% in Shanghai’s tallest twin towers. We maintain BUY with a raised target price of S$4.40, pegged to a 20% discount to our revised RNAV.

 

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LionelLim8.16Check out our compilation of Target Prices



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Counter NameLastChange
AEM Holdings2.290-0.070
Best World2.4600.020
Boustead Singapore0.945-0.015
Broadway Ind0.125-0.003
China Aviation Oil (S)0.905-0.005
China Sunsine0.400-0.010
ComfortDelGro1.450-0.010
Delfi Limited0.895-0.005
Food Empire1.280-0.040
Fortress Minerals0.305-0.015
Geo Energy Res0.300-0.005
Hong Leong Finance2.480-0.010
Hongkong Land (USD)2.830-0.020
InnoTek0.520-0.015
ISDN Holdings0.3000.005
ISOTeam0.042-0.001
IX Biopharma0.040-0.005
KSH Holdings0.2550.005
Leader Env0.050-
Ley Choon0.0440.001
Marco Polo Marine0.067-0.002
Mermaid Maritime0.136-0.003
Nordic Group0.310-0.005
Oxley Holdings0.089-
REX International0.1380.003
Riverstone0.790-0.005
Southern Alliance Mining0.445-
Straco Corp.0.4950.010
Sunpower Group0.205-0.005
The Trendlines0.069-
Totm Technologies0.022-
Uni-Asia Group0.825-
Wilmar Intl3.4000.020
Yangzijiang Shipbldg1.740-0.030
 

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