Brokers' take

GL | Buy

Dec 9 close: S$0.84

Target price: S$1.43

RHB Research, Dec 9

GL Limited (formerly known as GuocoLeisure), has recently put up its west London hotel, Thistle Kensington Gardens Hotel, for sale and has appointed Jones Lang LaSalle to assist in the process. The 175-room hotel was highlighted as one of the two hotels within GL's portfolio that has redevelopment potential in an independent valuation report by Christie + Co two years ago, and valued at £42 million (S$89 million) on its current use basis. We expect any potential sale to generate a handsome profit given the site's prime location and redevelopment potential. Separately, GL is also reviewing its plans for its mega hotel, the 800-room Tower Hotel, whether to go ahead…