External broker reports(aggregated public sources), UOB Kay Hian

UOB Kay Hian

External broker reports(aggregated public sources)

Backed by the UOB Group, UOB Kay Hian is one of Asia’s largest brokerage firms. Headquartered in Singapore, we are supported by more than 80 branches worldwide including a growing network of offices across Southeast Asia, Greater China, the United Kingdom and North America. Our global footprint and strong international presence have enabled us to feel the pulse of key financial markets and deliver incisive intelligence across industry sectors and asset classes. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>We factor in potential valuation losses and the cost to reduce gearing to correctly appraise the valuation for Prime US REIT.</li><li>We estimate fair value of investment properties to drop 10% and aggregate leverage to hit 48% at end-23.</li><li>Valuation is attractive with Prime US REIT's 2024 distribution yield at 17.4% and P/NAV at 0.44x. Maintain BUY. Target price: US$0.61.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We factor in potential valuation losses and the cost to reduce gearing to correctly appraise the valuation for Prime US REIT.We estimate fair value of investment properties to drop 10% and aggregate leverage to hit 48% at end-23.Valuation is attractive with Prime US REIT's 2024 distribution yield at 17.4% and P/NAV at 0.44x. Maintain BUY. Target price: US$0.61.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Prime US REIT 1Q23 - Resiliency From Diversified Tenant Mix; Bombed-Out Valuations

External broker reports(aggregated public sources), RHB Invest

RHB Invest

RHB Investment Bank is one of the leading capital market players in Malaysia. Supported by an award-winning research team of experienced product specialists, RHB Group Investment Banking offers a full range of investment banking products and services covering primary markets, such as advisory (corporate & debt restructuring, mergers and acquisitions, takeovers), fundraising via both equity and debt instruments, and secondary markets including securities trading for both institutional and retail clients. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Prime US REIT's 1Q23 update shows resilient operational numbers.</li><li>While occupancy is expected to see slight fluctuations on tenant movements, we expect it to remain above 85% with slight positive rent reversions.</li><li>Keep BUY rating on Prime US REIT with new US$0.57 target price.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Prime US REIT's 1Q23 update shows resilient operational numbers.While occupancy is expected to see slight fluctuations on tenant movements, we expect it to remain above 85% with slight positive rent reversions.Keep BUY rating on Prime US REIT with new US$0.57 target price.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

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.

<ul><li>Share buybacks by primary listed companies 3 Mar - 9 Mar 2023 Meanwhile, Genting Singapore, Sembcorp Industries, Jardine Matheson, Singapore Airlines, Yangzijiang Shipbuilding (Holdings) led the net institutional inflow for the five sessions.</li><li>There were 19 primary-listed companies conducting share buybacks over the five trading sessions through to Mar 9, with a total consideration of S$10.6 million.</li></ul>

Share buybacks by primary listed companies 3 Mar - 9 Mar 2023 Meanwhile, Genting Singapore, Sembcorp Industries, Jardine Matheson, Singapore Airlines, Yangzijiang Shipbuilding (Holdings) led the net institutional inflow for the five sessions.There were 19 primary-listed companies conducting share buybacks over the five trading sessions through to Mar 9, with a total consideration of S$10.6 million.

Buybacks, director transactions resume at a lively pace

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Nexus Select Trust / Equity Capital Markets

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<li>
<a href="https://www.smartkarma.com/entities/nexus-select-trust" target="_blank" data-smartkarma-citation="entities:36566:1" rel="noopener">Nexus Select Trust (NST IN)</a> is looking to raise up to US$500m in its upcoming India IPO. </li>
<li>The bookrunners on the deal are Axis, BofA, Citi, HSBC, IIFL, JM Fin, JPM, Kotak, MS and SBI Cap.</li>
<li>Nexus Select Trust (NST) is a REIT with a portfolio of 17 Grade A urban consumption centers.</li>
</ul>



Nexus Select Trust (NST IN) is looking to raise up to US$500m in its upcoming India IPO. 
The bookrunners on the deal are Axis, BofA, Citi, HSBC, IIFL, JM Fin, JPM, Kotak, MS and SBI Cap.
Nexus Select Trust (NST) is a REIT with a portfolio of 17 Grade A urban consumption centers.


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

<p>In the upcoming webinar, Harmeet Bedi, Deputy CEO and CFO of PRIME US REIT, 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/sumeet-singh/about" target="_blank" rel="noopener">Sumeet Singh</a>. The Corporate Webinar will include a live Q&amp;A session.</p>
<h3>The webinar will be hosted on Tuesday, 29 November 2022, 17:00 SGT/HKT.</h3>
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<h2><a href="https://share.hsforms.com/1H9pFZOB-RF2J00kbvMmxcw2c5gj?zoom_webinar_id=86007052435" target="_blank" rel="noopener">Register for the Webinar here</a></h2>
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<p><strong>About Prime US REIT</strong><br> <br>Listed on 19 July 2019 on the Main Board of the Singapore Exchange, Prime US REIT<br>(“PRIME”) is a well-diversified real estate investment trust focused on stabilised income-producing prime office assets in the United States. With the objectives to achieve long-term growth in distributions per unit and net asset value per unit while maintaining a robust capital structure, PRIME offers investors unique exposure to a high-quality portfolio of 14 Class A freehold office properties which are strategically-located in 13 key U.S. office markets. PRIME’s portfolio has a total carrying value of US$1.67 billion as at 30 September 2022.<br><br><strong>Disclaimer: Do note that this webinar will be a live-only event. A recording will not be available afterwards. </strong></p>
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In the upcoming webinar, Harmeet Bedi, Deputy CEO and CFO of PRIME US REIT, will share a short company presentation. After which, he will engage in a fireside chat with Smartkarma Insight Provider, Sumeet Singh. The Corporate Webinar will include a live Q&amp;A session.
The webinar will be hosted on Tuesday, 29 November 2022, 17:00 SGT/HKT.




Register for the Webinar here





About Prime US REIT   Listed on 19 July 2019 on the Main Board of the Singapore Exchange, Prime US REIT (“PRIME”) is a well-diversified real estate investment trust focused on stabilised income-producing prime office assets in the United States. With the objectives to achieve long-term growth in distributions per unit and net asset value per unit while maintaining a robust capital structure, PRIME offers investors unique exposure to a high-quality portfolio of 14 Class A freehold office properties which are strategically-located in 13 key U.S. office markets. PRIME’s portfolio has a total carrying value of US$1.67 billion as at 30 September 2022.  Disclaimer: Do note that this webinar will be a live-only event. A recording will not be available afterwards. 


Smartkarma Corporate Webinar | PRIME US REIT: Diversity and Stability in the US Real Estate Sector

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Prime US REIT (PRIME SP)

Prime US REIT 1Q23 - Resiliency From Diversified Tenant Mix; Bombed-Out Valuations

We factor in potential valuation losses and the cost to reduce gearing to correctly appraise the valuation for Prime US REIT.

UOB Kay Hian

Prime US REIT - Focusing On Operations

Prime US REIT's 1Q23 update shows resilient operational numbers. While occupancy is expected to see slight fluctuations on tenant movements, we...

RHB Invest

Buybacks, director transactions resume at a lively pace

Share buybacks by primary listed companies 3 Mar - 9 Mar 2023 Meanwhile, Genting Singapore, Sembcorp Industries, Jardine Matheson, Singapore...

Singapore Exchange Ltd (SGX)

Nexus Select Trust Pre-IPO Tearsheet

Nexus Select Trust (NST IN) is looking to raise up to US$500m in its upcoming India IPO. The bookrunners on the deal are Axis, BofA, Citi, HSBC,...

Clarence Chu

Smartkarma Corporate Webinar | PRIME US REIT: Diversity and Stability in the US Real Estate Sector

For this Corporate Webinar we welcome Mr Harmeet Bedi, Deputy CEO and CFO of the Manager of PRIME US REIT, who will share a company presentation...

Smartkarma Research

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