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>Property cooling measures finally here – Higher interest rates floor and tighter LTV (for HDB) to moderate demand</li><li><a href="https://www.smartkarma.com/entities/esr-reit" target="_blank" data-smartkarma-citation="entities:10934" rel="noopener">ESR-LOGOS REIT (EREIT SP)</a> continues to divest non-core asset; 2 Jalan Kilang Barat for S$35.3m</li><li><a href="https://www.smartkarma.com/entities/first-real-estate-investment-trust" target="_blank" data-smartkarma-citation="entities:15848" rel="noopener">First REIT (FIRT SP)</a> bagged ~S$17m social loan to fund its acquisition of 2 nursing homes in Japan</li></ul>

Property cooling measures finally here – Higher interest rates floor and tighter LTV (for HDB) to moderate demandESR-LOGOS REIT (EREIT SP) continues to divest non-core asset; 2 Jalan Kilang Barat for S$35.3mFirst REIT (FIRT SP) bagged ~S$17m social loan to fund its acquisition of 2 nursing homes in Japan

ASEAN Builder's Scoop (30Sep22) - Higher IR Floor and Tighter LTV to Moderate Housing Demand

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Equity Bottom-Up

10 in 10 with First REIT - Balancing Growth and Stability

<ul><li><a href="https://www.smartkarma.com/entities/oxley-holdings-ltd" target="_blank" data-smartkarma-citation="entities:1097" rel="noopener">Oxley Holdings (OHL SP)</a> 2H22 net loss doubled to S$20.3m; Future progress billing of S$1.7bn over next 3 years</li><li>Resilient PBSA properties gaining traction amidst slowing economy</li><li><a href="https://www.smartkarma.com/entities/first-real-estate-investment-trust" target="_blank" data-smartkarma-citation="entities:15848" rel="noopener">First REIT (FIRT SP)</a> proposes tender for S$60m perpetual securities</li></ul>

Oxley Holdings (OHL SP) 2H22 net loss doubled to S$20.3m; Future progress billing of S$1.7bn over next 3 yearsResilient PBSA properties gaining traction amidst slowing economyFirst REIT (FIRT SP) proposes tender for S$60m perpetual securities

ASEAN Builder's Scoop (22Aug22) - OHL Pipeline Remains Healthy

Smartkarma Research Team, Smartkarma

Smartkarma Research

Smartkarma Research Team

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

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<p>For our next Corporate Webinar we are glad to welcome First REIT’s Executive Director and CEO, Tan Kok Mian, Victor.</p>
<p>In the upcoming webinar, Victor will share a short company presentation after which, he will engage in a fireside chat with Smartkarma Insight Provider, <a href="https://www.smartkarma.com/profiles/angus-mackintosh" target="_blank" rel="noopener">Angus Mackintosh</a>. The Corporate Webinar will include a live Q&amp;A session.</p>
<p> The Corporate Webinar will be hosted on Tuesday, 6 September 2022, 17:00 SGT.</p>
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<h2><strong><a href="https://share.hsforms.com/1H9pFZOB-RF2J00kbvMmxcw2c5gj?zoom_webinar_id=84657882975" target="_blank" rel="noopener">Register for the Webinar here</a></strong></h2>
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<p>Listed on the Singapore Exchange Securities Trading Limited on 11 December 2006, First Real  Estate Investment Trust (“First REIT”) is Singapore's first healthcare real estate investment  trust. Its investment strategy encompasses a diverse portfolio of yield-accretive healthcare  and healthcare-related real-estate assets in Asia. </p>
<p>Over the years, the Trust has successfully built a high quality and diversified asset portfolio of  31 properties comprising 16 located in Indonesia, three in Singapore and 12 in Japan. The  properties are collectively valued at over S$1,253.0 million¹ as at 31 December 2021. The  stable income-producing portfolio covers the full scale of healthcare real estate, including  hospitals, nursing homes and other healthcare-related facilities. </p>
<p> First REIT is managed by First REIT Management Limited, which is 60% owned by OUE Limited  and 40% owned by OUE Lippo Healthcare Limited ("OUELH"). First REIT enjoys the right-of first refusal ("ROFR") to the pipeline of hospitals in Indonesia by PT Lippo Karawaci Tbk ("Lippo  Karawaci"), Indonesia's largest broad-based listed property company. First REIT also has  another ROFR from OUELH, and the opportunities to tap on its growing healthcare network  across Pan-Asia.</p>
<p><span style="font-size: var(--content-font-size);">Corporate Webinars by Smartkarma Corporate Solutions feature discussions with IROs and Executives, discussing their companies, the challenges they face, and the opportunities in their sectors and markets.</span></p>
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For our next Corporate Webinar we are glad to welcome First REIT’s Executive Director and CEO, Tan Kok Mian, Victor.
In the upcoming webinar, Victor will share a short company presentation after which, he will engage in a fireside chat with Smartkarma Insight Provider, Angus Mackintosh. The Corporate Webinar will include a live Q&amp;A session.
 The Corporate Webinar will be hosted on Tuesday, 6 September 2022, 17:00 SGT.




Register for the Webinar here




Listed on the Singapore Exchange Securities Trading Limited on 11 December 2006, First Real  Estate Investment Trust (“First REIT”) is Singapore's first healthcare real estate investment  trust. Its investment strategy encompasses a diverse portfolio of yield-accretive healthcare  and healthcare-related real-estate assets in Asia. 
Over the years, the Trust has successfully built a high quality and diversified asset portfolio of  31 properties comprising 16 located in Indonesia, three in Singapore and 12 in Japan. The  properties are collectively valued at over S$1,253.0 million¹ as at 31 December 2021. The  stable income-producing portfolio covers the full scale of healthcare real estate, including  hospitals, nursing homes and other healthcare-related facilities. 
 First REIT is managed by First REIT Management Limited, which is 60% owned by OUE Limited  and 40% owned by OUE Lippo Healthcare Limited ("OUELH"). First REIT enjoys the right-of first refusal ("ROFR") to the pipeline of hospitals in Indonesia by PT Lippo Karawaci Tbk ("Lippo  Karawaci"), Indonesia's largest broad-based listed property company. First REIT also has  another ROFR from OUELH, and the opportunities to tap on its growing healthcare network  across Pan-Asia.
Corporate Webinars by Smartkarma Corporate Solutions feature discussions with IROs and Executives, discussing their companies, the challenges they face, and the opportunities in their sectors and markets.


Smartkarma Corporate Webinar | First REIT: Balancing Growth and Stability

Far East Hospitality Trust / Equity Bottom-Up

<ul><li>REIT Watch - SGTI 2022 shows more S-Reits reporting non-financial metrics S-Reits and business trusts see an improvement in their Singapore Governance and Transparency Index (SGTI) 2022 scores, increasing marginally to 85.3 points from 85.0 last year.</li><li>Overall, the mean score of the Reits and business trust category increased by 0.3 points year on year and the mean bonus points for good disclosure practices increased by 0.7 points to 19.2 points.</li></ul>

REIT Watch - SGTI 2022 shows more S-Reits reporting non-financial metrics S-Reits and business trusts see an improvement in their Singapore Governance and Transparency Index (SGTI) 2022 scores, increasing marginally to 85.3 points from 85.0 last year.Overall, the mean score of the Reits and business trust category increased by 0.3 points year on year and the mean bonus points for good disclosure practices increased by 0.7 points to 19.2 points.

REIT Watch - SGTI 2022 shows more S-Reits reporting non-financial metrics

Singapore

First Real Estate Investment Trust is a healthcare real estate investment trust. The Trust invests in and owns a diversified portfolio of healthcare and healthcare-related real-estate assets in Asia.

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First REIT (FIRT SP)

ASEAN Builder's Scoop (30Sep22) - Higher IR Floor and Tighter LTV to Moderate Housing Demand

EREIT divests 2 JKB at 22% premium; CLI sees strong take-up in 1st Luzon project; Thai land appraisal price to rise by ~8%; Property cooling...

SCCM Asia Research

10 in 10 with First REIT - Balancing Growth and Stability

10 in 10 with First REIT - Balancing Growth and Stability

Singapore Exchange Ltd (SGX)

ASEAN Builder's Scoop (22Aug22) - OHL Pipeline Remains Healthy

Resilient PBSA asset class gaining traction; MREIT to reach 500k sqm target in 2023; Manila office vacancy climbs to new record; i-City Finance Ave...

SCCM Asia Research

Smartkarma Corporate Webinar | First REIT: Balancing Growth and Stability

Executive Director and CEO, Tan Kok Mian, Victor, will share a short company presentation after which, he will engage in a fireside chat with...

Smartkarma Research

REIT Watch - SGTI 2022 shows more S-Reits reporting non-financial metrics

REIT Watch - SGTI 2022 shows more S-Reits reporting non-financial metrics S-Reits and business trusts see an improvement in their Singapore...

Singapore Exchange Ltd (SGX)

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