Brokers' take
Singapore Post Ltd | Hold Oct 12 close: S$1.265 Target price: S$1.22 Maybank Kim Eng, Oct 11
SingPost opened its new retail mall, SingPost Centre on Oct 9, 2017, after two years of redevelopment. This has doubled its gross retail floor space to 269,000 sq ft and net lettable area to 178,000 sq ft. It has achieved a healthy occupancy rate of 80.4 per cent, helped by its convenient location, next to Paya Lebar MRT interchange station.
It is set to invigorate Paya Lebar Central, which is rapidly transforming into a major commercial hub under the Urban Redevelopment Authority's master plan. The mall houses up to 130 stores, including leading brands in fashion, dining, entertainment, fitness and children's enrichment. SingPost Centre is managed by CapitaLand under a contract.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
HCA beats first-quarter profit estimates on higher patient admissions
F&B operator YKGI to exclusively operate Chicha San Chen in Macau for next eight years
LMIRT Q1 net property income dips 3.1% to S$30 million on higher expenses
Exxon misses on Q1 profit despite big gains in Guyana
US FDA approves Pfizer’s gene therapy for rare bleeding disorder
Chevron's quarterly profit beats estimates