Singapore and emerging market real estate

Royston Foo

Thematic (Sector/Industry)

Top Singapore property news this week that you need to know.<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/050/206/original/Rivercove-Residences-EC-Main-Facade.jpg?1524209075" class="editor-image img-responsive" data-smartkarma-image-id="50206"></figure><div class="content-caption">Rivercove Residences - 80% sold at S$965 psf</div>Property Sales &amp; Transactions<a href="http://www.businesstimes.com.sg/real-estate/lian-beng-jv-buys-sembawang-shopping-centre-from-capitaland-mall-trust%20" target="_blank">20th Apr 2018 - Lian Beng JV buys Sembawang Shopping Centre from CapitaLand Mall Trust</a>Royston Foo: Acquisition price of S$248 mil (S$1,727 psf NLA) for Sembawang Shopping Centre (“SSC”) is at a 96.8% premium to its last valuation of S$126 mil (S$877 psf NLA) that was only done 4 months ago. The implied 4.2% NPI yield for the property translates to an annual NPI of…

Top Singapore property news this week that you need to know.Rivercove Residences - 80% sold at S$965 psfProperty Sales &amp; Transactions20th Apr 2018 - Lian Beng JV buys Sembawang Shopping Centre from CapitaLand Mall TrustRoyston Foo: Acquisition price of S$248 mil (S$1,727 psf NLA) for Sembawang Shopping Centre (“SSC”) is at a 96.8% premium to its last valuation of S$126 mil (S$877 psf NLA) that was only done 4 months ago. The implied 4.2% NPI yield for the property translates to an annual NPI of…

Singapore Property Weekly Recap (14th Apr to 20th Apr 2018)

Equity Capital Markets

SLB Development Ltd, the property arm of SGX-listed Lian Beng Group, is seeking to list on SGX Catalist Board at a premium valuation of 1.46 times its NAV and 0.75 times its RNAV. Whilst SLBD offers attractive investment proposition through its exposure to diversified property segments in Singapore with a strong launch pipeline, it needs to demonstrate its ability to grow on its own without being over-reliant on other property developers and deepen its management depth. SLBD appears fully-valued and investors may find more upside potential in investing other undervalued property developers. For exposure to SLBD, Lian Beng Group may offer a better risk-reward proposition.

SLB Development Ltd, the property arm of SGX-listed Lian Beng Group, is seeking to list on SGX Catalist Board at a premium valuation of 1.46 times its NAV and 0.75 times its RNAV. Whilst SLBD offers attractive investment proposition through its exposure to diversified property segments in Singapore with a strong launch pipeline, it needs to demonstrate its ability to grow on its own without being over-reliant on other property developers and deepen its management depth. SLBD appears fully-valued and investors may find more upside potential in investing other undervalued property developers. For exposure to SLBD, Lian Beng Group may offer a better risk-reward proposition.

SLB Development Ltd – Tough Justification for Premium IPO Valuation

Singapore

SLB Development Ltd. operates as a property development company. The Company develops industrial, commercial, and retail properties.

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SLB Development (SLB SP)

Singapore Property Weekly Recap (14th Apr to 20th Apr 2018)

Top Singapore property news this week that you need to know.Property Sales & Transactions20th Apr 2018 - Lian Beng JV buys Sembawang Shopping...

Royston Foo

SLB Development Ltd – Tough Justification for Premium IPO Valuation

SLB Development Ltd, the property arm of SGX-listed Lian Beng Group, is seeking to list on SGX Catalist Board at a premium valuation of 1.46 times...

Royston Foo

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