High potential seen for HPL's west Orchard assets
OCBC analyst says the properties are ripe for revitalisation
HOTEL Properties Ltd (HPL) assets in West Orchard are ripe for revitalisation and a future mega-development could play a central role in remaking the area, according to an OCBC analyst report released yesterday.
In the aftermath of the HPL buyover last month by 68 Holdings, a consortium led by Ong Beng Seng and Wheelock Properties, the report proposes that there is a strong case for the future redevelopment of a large HPL-owned site in the area.
The report estimates that 68 Holdings needed to secure access to approximately $1.3 billion for its general offer. This significant capital commitment combined with a five-year "break-up" clause for any of the consortium parties in 68 Holdings' offer document suggests that the consortium intends to form a m…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
GE Aerospace raises earnings goal on strong engine sales
BRC Asia to buy 19.9% of steel reinforcement company for S$16 million
Lockheed Martin reports higher sales on strong defence demand
UOI reports 67% surge in Q1 profit before tax to S$8 million, driven by favourable market conditions
Euro at highest to yen since 2008, markets nervy over Tokyo stepping in
Apac Realty enters the Philippines with franchise agreement