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/manulife-us-reit" target="_blank" data-smartkarma-citation="entities:567" rel="noopener">Manulife US REIT (MUST) (MUST SP)</a> partners with Flex by JLL to take up ~15,400sqft flexible working space at Plaza</li><li>Condo and HDB rentals climbed faster +3.2% and +2.4% MoM, respectively, in Aug22</li><li><a href="https://www.smartkarma.com/entities/low-keng-huat-singapore-ltd" target="_blank" data-smartkarma-citation="entities:1928" rel="noopener">Low Keng Huat Singapore (LKH SP)</a> 1H23 swung into loss due to slower property sales and divestment loss</li></ul>

Manulife US REIT (MUST) (MUST SP) partners with Flex by JLL to take up ~15,400sqft flexible working space at PlazaCondo and HDB rentals climbed faster +3.2% and +2.4% MoM, respectively, in Aug22Low Keng Huat Singapore (LKH SP) 1H23 swung into loss due to slower property sales and divestment loss

ASEAN Builder's Scoop (15Sep22) - MUST Partners with Flex by JLL

<ul><li>NTUC Enterprise weighs US$2.9bn mall portfolio sale - NTUC Enterprise Co-operative is exploring a sale of its retail malls for about S$4bn (US$2.9bn).</li><li>JustCo to open 4 new Co-working spaces in APAC; Silom Edge Bangkok to open by Sep22</li><li><a href="https://www.smartkarma.com/entities/eco-world-international-bhd" target="_blank" data-smartkarma-citation="entities:24034" rel="noopener">Eco World International Bhd (ECWI MK)</a> secured 57% of sales target in 7 months</li></ul>

NTUC Enterprise weighs US$2.9bn mall portfolio sale - NTUC Enterprise Co-operative is exploring a sale of its retail malls for about S$4bn (US$2.9bn).JustCo to open 4 new Co-working spaces in APAC; Silom Edge Bangkok to open by Sep22Eco World International Bhd (ECWI MK) secured 57% of sales target in 7 months

ASEAN Builder's Scoop (17Jun22) - NTUC Weights US$2.9bn Mall Portfolio Sale

<ul><li>New private home sales rose 108% MoM in May22; But take-up rate falling further to ~109%</li><li>Condo, HDB rents rose at quicker pace in May22; More units leased</li><li>Visitor arrivals continued to rebound strongly in May22 though still 26% of monthly average in 2019</li></ul>

New private home sales rose 108% MoM in May22; But take-up rate falling further to ~109%Condo, HDB rents rose at quicker pace in May22; More units leasedVisitor arrivals continued to rebound strongly in May22 though still 26% of monthly average in 2019

ASEAN Builder's Scoop (16Jun22) - May22 New Home Sales Take-Up Rate Falling Further

Malaysia

Eco World International Bhd (EWI) operates as a special purpose entity. The Company was set up for the purpose of raising funds to acquire real estate assets, including vacant land and redevelopment projects overseas in countries such as the United Kingdom and Australia.

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Eco World International Bhd (ECWI MK)

ASEAN Builder's Scoop (15Sep22) - MUST Partners with Flex by JLL

Condo and HDB rentals climbed faster MoM in Aug22; LKH swung into net loss in 1H23; POGO returning in the Phils; ECWI remains optimistic in UK, AUS

SCCM Asia Research

ASEAN Builder's Scoop (17Jun22) - NTUC Weights US$2.9bn Mall Portfolio Sale

JustCo opening 4 more Co-working space in APAC; ECWI secured 57% of FY sales target; LAND projects IDR75bn capex; AGI increases capex budget +33% YoY

SCCM Asia Research

ASEAN Builder's Scoop (16Jun22) - May22 New Home Sales Take-Up Rate Falling Further

Condo/HDB rents rose faster in May22; Visitor arrivals still ~26% of pre-Covid; SSIA booked 9ha land sales in 1Q22; RLC highest bond rating; ECWI...

SCCM Asia Research

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