Maybank Investment Banking Group’s Post

𝐋𝐇𝐍 𝐰𝐢𝐧𝐬 𝐭𝐰𝐨 𝐧𝐞𝐰 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬; 𝐌𝐚𝐲𝐛𝐚𝐧𝐤 𝐤𝐞𝐞𝐩𝐬 '𝐛𝐮𝐲' 𝐟𝐨𝐫 𝐧𝐨𝐰 🚀🏗️ Maybank Securities analysts Li Jialin and Eric Ong have maintained their 'buy' recommendation for LHN shares following the recent announcement that we won the tender for the former Bukit Timah Fire Station and entered into a joint venture to acquire the Wilmer Place property. These properties will be used to host our Coliwoo Singapore co-living space, which will enhance our offerings and presence in prime locations. These new developments not only solidify our market position as one of Singapore's largest co-living operators, they also significantly expand our asset base. 🌍💼 Read the full article: https://buff.ly/3xzjW6l #LHNGroup #Coliwoo #CoLiving #MixedUseDevelopment #CommunityCentric #UpperBukitTimah #SingaporeDevelopment #UrbanRenewal #PropertyTender

CapitaLand Integrated Commercial Trust (#CICT) continued to deliver resilient performance with net property income for year-to-date (YTD) Sep 2024 rising 5.4% year-on-year (y-o-y) to S$872.1 million. Its portfolio achieved high committed occupancy of 96.4% and its Singapore retail and office portfolios achieved positive rent reversions of 9.2% and 11.7% respectively. Delivering on its value creation strategy, CICT completed the acquisition of a 50% interest in ION Orchard, an iconic destination mall in Singapore with universal appeal. This addition reinforces CICT as the proxy for high quality Singapore commercial real estate. Phase 1 and 2 of the asset enhancement initiative (AEI) at IMM Building has also achieved 100% committed occupancy, while the AEI for Gallileo is expected to complete in 2H 2025. Looking ahead, CICT will continue to focus on proactive portfolio, capital and cost management to deliver long-term value to its unitholders. More: bit.ly/CICT3Q2024 #financialresults #REIT

Retail flows in Singapore Real Estate Investment Trusts (S-REITs) remain cautiously optimistic as softer US inflation data fuels expectations of rate cuts. The iEdge S-REIT Index rallied 2%, with top movers like Prime US REIT and Mapletree Pan Asia Commercial Trust seeing significant gains. Despite sector declines since 2021, S-REITs offer income-generating assets, with balance sheets showing strength and valuations at a discount. With increasing retail investor activity and developments in hospitality and acquisitions, S-REITs exhibit resilience amid challenges, hinting at potential outperformance as recovery looms. These were some of the insights shared by team SGX at the recent 10th REITs Symposium 2024 organised by InvestingNote, REITAS (REIT Association of Singapore) and ShareInvestor Pte Ltd. Attended by over 1800 investors, our Market Strategist Geoff Howie, and Emelia Tan, Director of Research and FinLit, were on hand engaging the enthusiastic turnout in the largest REIT event in Singapore. Here are some key takeaways from their sharing: 📈 Past studies have shown that REITs outperform at the end of rate raising cycles 💰 S-REITs with a disciplined balance sheet has shown to be resilient against higher interest rates 💡 S-REITs today are trading at almost 20% discounts to its longer term average Thank you to all delegates, organisers, participating REITs and industry experts for the insightful event. As Asia's most international REIT hub, we are committed to partnering the ecosystem and grow the industry for investors. Stay informed of S-REITs development with SGX Research's using the link in below comment. Cheong Jin O. Yao Loong Ng #SREITS #REITS #SGXSecurities

Singapore’s real estate investment trust (S-REITs) sector is at a turning point, after the challenges of elevated interest rates and an uncertain growth outlook in recent years. The “Bank of Singapore-SGX S-REITS Symposium: A Turning Point” held at SGX Centre on 29 Aug convened industry leaders-Wee Lih Koh (CEO Keppel REIT), Anthea Lee (CEO Frasers Logistics & Commercial Trust) & Serena Teo (CEO CapitaLand Ascott Trust) - who shared their insights on respective sub-sectors of commercial, logistics and hospitality properties. Our thanks to SGX Group for their support for the Chief Investment Office’s research franchise and corporate access, and Matthew Song, Chong Lek Foong for your support. Our research team believes that three key themes will drive the sector’s outlook: 1. Tides turning on lower rates; 2. Exposure to real estate of the future driven by long-term structural trends like digital disruption and ESG; 3. Capitalising on home advantage of Singapore base, even as SREITS are positioned for global exposure. Link to Bank of Singapore’s S-REITS report: https://lnkd.in/gvXmSCeb Bank of Singapore, Asia's Global Private Bank SGX Group Jason Moo Robin Heng Eli Lee Andy Wong Teck Ching, CFA Carmen Lee Pei Han Low, CFA Kok Aun Koh, CFA Donavan Tan Ada Lim Celestee Tan Erica Heng Marianne Lok #bankofsg #ocbc #sreits

SGX Group had the pleasure of collaborating with Bank of Singapore, Asia's Global Private Bank for their client event “Bank of Singapore-SGX S-REITS Symposium: A Turning Point”. Our thanks to our panel speakers Serena Teo Wee Lih Koh Anthea Lee and the BOS team Jason Moo Jean Chia 谢佩华 Robin Heng Eli Lee Andy Wong Teck Ching, CFA Carmen Lee for an engaging client event and insights across hospitality, commercial and logistics sectors. Since our first REIT in 2002, Singapore’s REIT marketplace has evolved significantly beyond our domestic envelope, in terms of size and international asset footprint. From nursing homes in Japan to data centers in Ireland and Trader Joe’s grocery stores in the US, Singapore REITs give investors access to all sorts of rental stream. More than 90% of our REITs hold overseas assets, spread across geographies and sub-sectors. The upcoming REIT IPO pipeline includes data centres, hospitals and new economy sectors. We remain confident the S-REIT sector is at an inflection point with upcoming monetary easing and re-allocation of fund flows from global asset owners and managers.

CapitaLand China Trust (#CLCT) posted a net property income (NPI) of RMB631.3 million for 1H 2024, contributing to the 0.3% increase in distribution per unit of 3.01 Singapore cents against 2H 2023. Its financial performance in 1H 2024 was underpinned by higher income contribution from its retail portfolio and lower net financing cost. CLCT’s proactive efforts in asset and lease management have resulted in improved operating metrics. Its retail portfolio recorded a high occupancy of 97.8% and positive rental reversion of +1.2%, with post-AEI malls registering strong year-on-year growth in shopper traffic and tenant sales. CLCT will also continue to prioritise the occupancy of its new economy assets through a targeted leasing approach and active tenant engagement. Moving forward, CLCT will focus on driving asset performance, optimising its portfolio and strengthening its capital structure as it pursues sustainable growth. More: https://bit.ly/CLCT1H24 Tze Wooi Tan CFA #REIT #earnings #China

Proceeds to refinance existing loan and also help fund the proposed expansion of the company’s MBS integrated resort, the cost of which has more than doubled since it was first proposed. Las Vegas Sands’ planned expansion of the Singapore casino resort is currently expected to cost US$8 billion, versus an original estimate of about US$3.4 billion made in 2019. As they say - when you owe the banks $50k - you are scared of the banks. When you owe the banks $12B - they are the ones that are scared of you 😅 The more important question is whether there is market demand to support the expansion with regional countries - Thailand, Vietnam and Philipines looking to also expand their casino tourism. There is no local market for the casinos obviously. #mbs #banking #singapore #rogerng

#LinkREIT reported resilient results for 2023/24: Total revenue and net property income continued to grow, with the addition of Singapore retail assets to the portfolio and the full-period income contribution of Australia retail assets and Mainland China logistics assets. The disciplined approach in pursuing portfolio growth and #diversification has placed us in a strong position amid continuing headwinds. To pursue our next phase of growth, we are working hard to expand our investment capabilities to manage diverse sources of capital and invest in a wider range of investment opportunities, while minimising our cost of capital and maintaining robust risk management. Read our full results: https://bit.ly/4bTmifd

Did you know that Singapore is home to the largest REIT market in Asia (excluding Japan)? With S-REITs making up about 12% of the Singapore Exchange’s market cap, they play a crucial role in the investment landscape. S-REITs are publicly listed companies that own, operate, or finance income-producing real estate across various sectors like commercial, industrial, retail, and hospitality. They are required to distribute at least 90% of their taxable income to unitholders, primarily derived from rental income and capital gains from property sales. With quarterly or semi-annual distributions, S-REITs offer a dependable source of passive income. With the possibility of upcoming Fed rate cuts, S-REITs could be set to gain! Here’s how: ♦ Lower Borrowing Costs: Rate cuts usually mean lower interest rates, reducing borrowing costs for REITs. This increases profitability given that they are usually heavily reliant on debt to finance their property acquisitions and lower interest expenses mean more net income, which can be distributed to unitholders. ♦ More Attractive Yields: Lower rates make REIT yields more appealing compared to bonds, potentially driving higher investor demand for S-REITs. ♦ Higher Property Valuations: A drop in rates can boost property values, as a lower discount rate will need to be applied when valuing asset prices, increasing the Net Asset Value (NAV) of REITs and providing potential capital appreciation for investors. Join us at the RAK 2024 Annual conference and learn more on the global REIT landscape and how REITs are performing amid the current macro-economic environment. To register: https://lnkd.in/dDPvphxx https://bit.ly/3Zg0jMi https://bit.ly/4cXS6j5 #SingaporeREITs #REITTrends #REITInvestment

25 years ago in 2000, the global heavyweight Government of Singapore Investment Corporation, or GIC for short, made its debut in the commercial real estate market in Korea by acquiring Seoul Finance Center (SFC). This year, GIC is going through more change than ever before. GIC put SFC up for sale, an asset that will not change hands easily. SFC was GIC’s first purchase in Korea back in 2005, and it has been held for 20 years. There have been changes in leadership as well. Jasmine Loo, who had been dispatched to the GIC London office, has been assigned to lead the Korea office. This has led to some apparent changes in investment strategy. https://lnkd.in/gqK2CM7W #SPI #Seoulpropertyinsight #realestate #koreanmarket #investment #commercialrealestate #Hotel #GIC #GLADHotels #FourPoints #L7Hotel #HotelInvestmentPartners