News by Michelle Zhu

CIMB Research is upgrading its sector outlook on Singapore REITs (S-REITs) from “underweight” to “overweight” on a dovish Fed outlook in addition to a potential sector re-rating ahead of a broader physical recovery in 2018.

Frasers Centrepoint Ltd subsidiary, Frasers Property Holdings (Thailand), on March 31 entered into a JV agreement with TCC Assets to establish a JV company, One Bangkok Holdings (OBH) to build an integrated mixed-use development in Central Bangkok, Thailand.

CIMB Research is reiterating its “add” recommendation on property developer UOL Group, which remains the research house’s top pick among Singapore developers with an unchanged target price of S$7.96 (RM25.21).

OCBC Investment Research is maintaining its “buy” call on CapitaLand Ltd, raising its fair value estimate on the stock from S$3.68 to S$3.93 after recent news broke on the group’s developments in Vietnam and Singapore.

OCBC Investment Research is maintaining its “buy” recommendation on Mapletree Industrial Trust (MIT) at a fair value of S$1.88 after the REIT’s recent announcement of its S$60 million (RM190 million) contract win for the development of a build-to-suit (BTS) data centre.

Under the contract, CapitaLand will oversee the pre-opening and retail management for the five-storey SingPost Centre mall, which has 269,000 sq ft of GFA (excluding carpark) and a net lettable area of about 175,000 sq ft.

TEE International has declared about S$200,000 (RM634,000) of earnings for the third quarter ended Feb 2017, down 72.3% from the S$600,000 it reported a year ago.

Singapore’s Prime Minister Lee Hsien Loong was present together as guest-of-honour with Vietnam’s deputy PM, Trinh Dinh Dung, at the opening ceremony held this morning at the office development in HCMC.

As global economic fundamentals begin to improve, DBS Vickers Securities is expecting prices to be supported for Singapore REITs (S-REITs) in the near term given earlier fears that the Fed would be more hawkish.

The high court has dismissed the winding-up applications for three of Perennial Real Estate Holdings’ associated joint venture (JV) companies, namely: Capitol Investment Holdings, Capitol Retail Management and Capitol Hotel Management.