Keppel Pacific Oak US Reit > Buy (maintained) RHB Research Institute, Sept 6 Sept 6 close: US$0.75 Target price: US$0.88

KEPPEL-KBS US Reit announced a change of name to Keppel Pacific Oak US Reit, with plans underway to enter into a new outsourcing management agreement with a new US asset manager, Pacific Oak Capital Advisors.

The new outsourcing management agreement will be substantially on the same terms as the existing one. No operational impact is expected as the asset manager, and the Reit's management team are expected to remain the same, post changes.