Research from SooChow CSSD Capital Markets (Asia), SCCM Asia Research

SCCM Asia Research

Research from SooChow CSSD Capital Markets (Asia)

Headquartered in Singapore, SooChow CSSD Capital Markets (Asia) is an investment bank focusing on emerging growth companies across Asia, providing a full suite of investment banking services, including corporate finance, mergers and acquisitions advisory, equity capital markets, institutional equities sales and trading and equities research.

SooChow CSSD Capital Markets (Asia)

Thematic (Sector/Industry)

<ul><li><a href="https://www.smartkarma.com/entities/mapletree-logistics-trust" target="_blank" data-smartkarma-citation="entities:16035" rel="noopener">Mapletree Logistics Trust (MLT SP)</a> 1Q23 DPU +5.0% YoY; Robust DPU growth and reversions number </li><li><a href="https://www.smartkarma.com/entities/mapletree-north-asia-commercial-trust" target="_blank" data-smartkarma-citation="entities:5127" rel="noopener">Mapletree North Asia Commercial Trust (MAGIC SP)</a> 1Q23 Business Updates – FW recovery continues</li><li><a href="https://www.smartkarma.com/entities/capitaland-integrated-commercial-trust" target="_blank" data-smartkarma-citation="entities:105" rel="noopener">Capitaland Integrated Commercial Trust (CICT SP)</a> , <a href="https://www.smartkarma.com/entities/link-reit" target="_blank" data-smartkarma-citation="entities:872" rel="noopener">Link REIT (823 HK)</a>, <a href="https://www.smartkarma.com/entities/frasers-property-ltd" target="_blank" data-smartkarma-citation="entities:1670" rel="noopener">Frasers Property Ltd (FPL SP)</a> competing for NTUC's S$4bn shopping malls</li></ul>

Mapletree Logistics Trust (MLT SP) 1Q23 DPU +5.0% YoY; Robust DPU growth and reversions number Mapletree North Asia Commercial Trust (MAGIC SP) 1Q23 Business Updates – FW recovery continuesCapitaland Integrated Commercial Trust (CICT SP) , Link REIT (823 HK), Frasers Property Ltd (FPL SP) competing for NTUC's S$4bn shopping malls

ASEAN Builder's Scoop (22Jul22) - MLT Robust Growth and Reversions

<ul><li>Income@Raffles quietly is on the market with S$3,300psf guide price or ~S$900m</li><li>Sultan Plaza takes another stab at en bloc with unchanged S$360m reserve price</li><li>GIC in JV to acquire UK’s third-largest purpose-built student accommodation provider</li></ul>

Income@Raffles quietly is on the market with S$3,300psf guide price or ~S$900mSultan Plaza takes another stab at en bloc with unchanged S$360m reserve priceGIC in JV to acquire UK’s third-largest purpose-built student accommodation provider

ASEAN Builder's Scoop (31May22) - Income@Raffles on the Market for S$3,300psf

<ul><li>Liv @ MB condo by <a href="https://www.smartkarma.com/entities/bukit-sembawang-estates-ltd" target="_blank" data-smartkarma-citation="entities:17987" rel="noopener">Bukit Sembawang Estates (BS SP)</a> in Mountbatten &gt;75% sold @ S$2,387psf</li><li>Asia Green in Tampines on the market with S$470m indicative pricing</li><li>Fresh off student housing deal, <a href="https://www.smartkarma.com/entities/wee-hur-holdings-ltd" target="_blank" data-smartkarma-citation="entities:5653" rel="noopener">Wee Hur Holdings (WHUR SP)</a> keen on more partnerships with institutional investors</li></ul>

Liv @ MB condo by Bukit Sembawang Estates (BS SP) in Mountbatten &gt;75% sold @ S$2,387psfAsia Green in Tampines on the market with S$470m indicative pricingFresh off student housing deal, Wee Hur Holdings (WHUR SP) keen on more partnerships with institutional investors

ASEAN Builder's Scoop (23May22) - Liv@ MB by BS >75% Sold @ S$2,387psf

<ul><li><a href="https://www.smartkarma.com/entities/lhn-ltd" target="_blank" data-smartkarma-citation="entities:27234" rel="noopener">LHN Ltd (LHN SP)</a> 1H22 PATMI +117.4% YoY; More Co-living properties will be launched in 2H22</li><li><a href="https://www.smartkarma.com/entities/ec-world-reit" target="_blank" data-smartkarma-citation="entities:22842" rel="noopener">EC World Reit (ECWREIT SP)</a> 1Q22 DPU -9.7% YoY; Timing difference in pre-termination compensation received</li><li><a href="https://www.smartkarma.com/entities/oue-commercial-real-estate-investment-trust" target="_blank" data-smartkarma-citation="entities:912" rel="noopener">OUE Commercial REIT (OUECT SP)</a> 1Q22 Business Updates – RevPAR recovery appears slow and Commercial occupancy remains flattish at low 90%</li></ul>

LHN Ltd (LHN SP) 1H22 PATMI +117.4% YoY; More Co-living properties will be launched in 2H22EC World Reit (ECWREIT SP) 1Q22 DPU -9.7% YoY; Timing difference in pre-termination compensation receivedOUE Commercial REIT (OUECT SP) 1Q22 Business Updates – RevPAR recovery appears slow and Commercial occupancy remains flattish at low 90%

ASEAN Builder's Scoop (13May22) - LHN Co-Living Bearing Fruits

<ul><li><a href="https://www.smartkarma.com/entities/frasers-logistics-commercial-trust" target="_blank" data-smartkarma-citation="entities:22748" rel="noopener">Frasers Logistics &amp; Commercial Trust (FLT SP)</a> forward purchases a prime UK warehouse development</li><li>Mapletree Investment hits a record year with closing of S$1.9bn US logistics fund</li><li>Shophouse market rounds off banner year with 217 transactions worth S$1.53bn YTD</li></ul>

Frasers Logistics &amp; Commercial Trust (FLT SP) forward purchases a prime UK warehouse developmentMapletree Investment hits a record year with closing of S$1.9bn US logistics fundShophouse market rounds off banner year with 217 transactions worth S$1.53bn YTD

ASEAN Builder's Scoop (2Dec21) - FLT Fwd-Purchases UK Warehouse Dev't

Thailand

Central Pattana Public Company Limited and its subsidiaries develop properties including shopping centers, condominiums, and office, for sale and rental.  The Company's projects include Central Plaza Lardprao, Central Plaza Ram-indra,  Central Plaza Pinklao, Central Festival Center Pattaya, and Central Plaza Ratchada.

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Central Pattana Pub (CPN TB)

ASEAN Builder's Scoop (22Jul22) - MLT Robust Growth and Reversions

MAGIC FW recovery continues; CICT/Link REIT/FPL vying for NTUC's mall assets; Non-landed luxury prop deals rose 64% YoY in 2Q22; CPN rolling out 50...

SCCM Asia Research

ASEAN Builder's Scoop (31May22) - Income@Raffles on the Market for S$3,300psf

Income At Raffles, a 999-year leasehold predominantly office property at 16 Collyer Quay, is being quietly marketed for sale via a closed...

SCCM Asia Research

ASEAN Builder's Scoop (23May22) - Liv@ MB by BS >75% Sold @ S$2,387psf

Asia Green on market @ S$470m price tag; ALI-AREIT executed property swap; CPN aims to become fully-integrated developer; Ikano Centres unveiled...

SCCM Asia Research

ASEAN Builder's Scoop (13May22) - LHN Co-Living Bearing Fruits

ECWREIT timing difference in compensation; OUECT recovery appears slow; UHU min leasing risk; FPL boosted invt props; SMPH reopening play for malls

SCCM Asia Research

ASEAN Builder's Scoop (2Dec21) - FLT Fwd-Purchases UK Warehouse Dev't

FLT fwd-purchases UK warehouse dev't; Mapletree closes S$1.9bn US Logistics Fund; Banner year for shophouse mrkt; CPN sets aside THB3bn capex; MEG...

SCCM Asia Research

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