UOB KayHian started ARA US Hospitality Trust at Buy with a target price of US$1.15, pointing to its higher-margin niche of upscale select-service hotels.
Hospitality & Tourism
RHB started Oxley Holdings at Buy with a S$0.41 target price, calling it a “major property sector bargain” and “significantly undervalued.”
These are Singapore companies which may be in focus on Wednesday, 11 June 2019: Temasek, Sembcorp, Gallant, OUE, China Jinjiang Environment, OCBC and UOB.
Around 89.67% of OUE’s S$150M 3.0% exchangeable bonds due 2023, or S$134.5M worth, were tendered for redemption, the property developer said Wednesday.
City Developments’ bid for Millennium & Copthorne Hotels is a long-term positive and should help reposition the ageing hotel assets, RHB said Monday.
These are Singapore companies which may be in focus on Monday, 10 June 2019: City Developments, Singapore Airlines, Oxley and SPH.
City Developments launched another takeover bid for Millennium & Copthorne,valuing the hotel operator at around S$3.86B, the Singapore company said Friday.
These are Singapore companies which may be in focus on Thursday, 6 June 2019: Cordlife, GIC, Singtel, ComfortDelGro, OUE and Keppel Infrastructure Trust.
OUE invited holders of its S$150M 3 percent exchangeable bonds due 2023 to tender the securities for early redemption, the property company said Tuesday.
These are Singapore companies which may be in focus on Tuesday, 4 June 2019: Keppel, SPH, Wilmar, LMIR Trust, Accordia Golf, Koufu and Far East Orchard.
These are Singapore stocks which may be in focus on Monday, 3 June 2019: Genting Singapore, ST Engineering, OUE, SPH and Perennial.
The managers of Frasers Hospitality Trust announced Friday that Colin Low will succeed Eu Chin Fen as CEO on 1 July.
Oxley reported Monday its fiscal 3Q net profit jumped 118% on-year to S$66.1M, mainly on fair value gains on investment properties in Dublin and Singapore.
Nomura increased its earnings forecasts for Genting Singapore on expectations for a looser credit policy ahead.
ARA US Hospitality Trust ended its first day of trade on SGX at US$0.88, flat with its offering price, after trading in a range of US$0.865 to US$0.88.
Genting Singapore reported Thursday its first-quarter net profit fell 5 percent on-year to S$205.47 million as gaming revenue declined.
Mandarin Oriental said Wednesday its underlying profit for the first quarter rose on-year on better results at the Mandarin Oriental Hyde Park, London.
Far East Orchard reported Tuesday its first quarter net profit fell 55.4 percent on-year to S$3.42 million, hurt by a weaker Australian dollar. Sales for…
DBS downgraded Frasers Hospitality Trust to Hold from Buy after lower-than-expected fiscal second-quarter results and a weaker Australia outlook.
These are Singapore companies which may be in focus on Friday, 3 May 2019: UOB, SembMarine, Frasers Property, ARA US Hospitality, OUEHT and Great Eastern.
ARA Asset Management said Thursday it registered to list ARA US Hospitality Trust on SGX in an offering expected to raise US$498 million.
OUE Hospitality Trust reported Thursday its 1Q19 net property income fell 2.2% on-year to S$27.7M amid lower hospitality income and higher interest expense.
Frasers Hospitality Trust reported Tuesday its fiscal 2Q net income fell 9.1% on-year to S$25.2M on weaker performances in Australia, Malaysia and Japan.
Oxley entered a deal to sell Chevron House to Golden Compass (BVI) for a total value of S$1.025 billion, the property company said Tuesday.
These are Singapore companies which may be in focus on Wednesday, 24 April 2019: Olam, ComfortDelGro, Mapletree Commercial Trust and UIC.