Brokers' take
Centurion Corp
BUY
Maybank Kim Eng Research | March 20 |
March 20 close: S$0.54
Target price: S$0.70
The Business Times reported that Singapore-based property fund manager Pamfleet Group has closed a deal to buy Homestay Lodge for just over S$127 million from a privately-owned vehicle of Hotel Properties managing director Ong Beng Seng and his brother-in-law David Fu. The dorm in Kaki Bukit Avenue 3 has about 6,000 beds, and sits on two plots of land covering 200,000 sq ft. It has 14 years of lease left and is known to be fully occupied. This is the first sizeable purpose-built dorm sale reported here. We estimate internal rate of return at 7.86 per cent, below Centurion's 7.9 per cent and 8.57 per cent for Westlite Woodland and Westlite Jalan Papan. The two have leases of over 20 years. W…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Asia: Markets rise as traders consider US rate outlook
China reiterates need for steady yuan amid fragile confidence
Singapore shares climb at Thursday’s open; STI up 0.3%
Stocks to watch: CDL, DFI Retail Group, Cordlife, First Resources
US: Wall Street slips as dour earnings, chip stocks weigh
Europe: Adidas, LVMH steer shares higher on earnings relief