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/straits-trading-co-ltd" target="_blank" data-smartkarma-citation="entities:15745" rel="noopener">Straits Trading (STRTR SP)</a> – proven track record as a prominent Real Estate Private Equity player</li><li>Residential rents could continue climbing in 2H22: Huttons Asia</li><li>Hospitality sector an attractive asset class amid tourism recovery and limited supply</li></ul>

Straits Trading (STRTR SP) – proven track record as a prominent Real Estate Private Equity playerResidential rents could continue climbing in 2H22: Huttons AsiaHospitality sector an attractive asset class amid tourism recovery and limited supply

ASEAN Builder's Scoop (6Oct22) - STRTR Prominent RE PE Player

<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> acquires Pasir Panjang property for S$30m for its Co-living portfolio expansion</li><li><a href="https://www.smartkarma.com/entities/guocoland-ltd" target="_blank" data-smartkarma-citation="entities:17467" rel="noopener">GuocoLand (GUOL SP)</a> Lentor Modern condo sold 84% of total units at launch weekend for ~S$1,850-2,550psf</li><li><a href="https://www.smartkarma.com/entities/straits-trading-co-ltd" target="_blank" data-smartkarma-citation="entities:15745" rel="noopener">Straits Trading (STRTR SP)</a> acquires remaining 20% stake in Australian trust for S$60m</li></ul>

LHN Ltd (LHN SP) acquires Pasir Panjang property for S$30m for its Co-living portfolio expansionGuocoLand (GUOL SP) Lentor Modern condo sold 84% of total units at launch weekend for ~S$1,850-2,550psfStraits Trading (STRTR SP) acquires remaining 20% stake in Australian trust for S$60m

ASEAN Builder's Scoop (19Sep22) - LHN Buys Co-Living Pasir Panjang Property

<ul><li><a href="https://www.smartkarma.com/entities/aims-amp-capital-industrial" target="_blank" data-smartkarma-citation="entities:933" rel="noopener">AIMS APAC REIT (AAREIT SP)</a> partners with SP Group to install large-scale rooftop solar system across SG properties</li><li><a href="https://www.smartkarma.com/entities/united-hampshire-us-reit" target="_blank" data-smartkarma-citation="entities:28874" rel="noopener">United Hampshire US REIT (UHU SP)</a> set to be included in three indices effective 26Sep22</li><li>New private home sales dropped 48% MoM in Aug22; But take-up rate further rebounded to ~326%   </li></ul>

AIMS APAC REIT (AAREIT SP) partners with SP Group to install large-scale rooftop solar system across SG propertiesUnited Hampshire US REIT (UHU SP) set to be included in three indices effective 26Sep22New private home sales dropped 48% MoM in Aug22; But take-up rate further rebounded to ~326%   

ASEAN Builder's Scoop (16Sep22) - AAREIT Partners SP Group in ESG Move

<ul><li><a href="https://www.smartkarma.com/entities/straits-trading-co-ltd" target="_blank" data-smartkarma-citation="entities:15745" rel="noopener">Straits Trading (STRTR SP)</a> venturing into high-tech warehouses and sophisticated storage areas</li><li><a href="https://www.smartkarma.com/entities/yanlord-land-group-ltd" target="_blank" data-smartkarma-citation="entities:14152" rel="noopener">Yanlord Land (YLLG SP)</a> 8M22 total contracted pre-sales rose 31.9% YoY; Robust Aug22 pre-sales +244.8% YoY</li><li>Jul22 retail sales up 13.7% YoY and +0.6% MoM; Slower YoY growth seen across the board from Jun22 figures</li></ul>

Straits Trading (STRTR SP) venturing into high-tech warehouses and sophisticated storage areasYanlord Land (YLLG SP) 8M22 total contracted pre-sales rose 31.9% YoY; Robust Aug22 pre-sales +244.8% YoYJul22 retail sales up 13.7% YoY and +0.6% MoM; Slower YoY growth seen across the board from Jun22 figures

ASEAN Builder's Scoop (6Sep22) - STRTR Venturing into High-Tech Warehouses

<ul><li><a href="https://www.smartkarma.com/entities/dasin-retail-trust" target="_blank" data-smartkarma-citation="entities:23743" rel="noopener">Dasin Retail Trust (DASIN SP)</a> 1H22 Business Updates – No distributions in 1H22, loan facilities extended until 31Dec22</li><li><a href="https://www.smartkarma.com/entities/bhg-retail-reit" target="_blank" data-smartkarma-citation="entities:21021" rel="noopener">BHG Retail REIT (BHGREIT SP)</a> 1H22 DPU -32.1% YoY; Dragged by one-off refinancing cost and forex losses, though occupancy remains robust</li><li><a href="https://www.smartkarma.com/entities/uol-group-ltd" target="_blank" data-smartkarma-citation="entities:142" rel="noopener">UOL Group (UOL SP)</a> 1H22 PATMI +306% YoY; Robust residential, retail, and hotel operations offset weaknesses in office portfolio</li></ul>

Dasin Retail Trust (DASIN SP) 1H22 Business Updates – No distributions in 1H22, loan facilities extended until 31Dec22BHG Retail REIT (BHGREIT SP) 1H22 DPU -32.1% YoY; Dragged by one-off refinancing cost and forex losses, though occupancy remains robustUOL Group (UOL SP) 1H22 PATMI +306% YoY; Robust residential, retail, and hotel operations offset weaknesses in office portfolio

ASEAN Builder's Scoop (15Aug22) - DASIN Defers Distributions, Extends Loan Facilities

Singapore

Straits Trading Company Limited operates as an investment holding company that positions its investments in real estate, hospitality, resources and other investments in the Asia Pacific region. The Company is also engaged in tin mining and smelting through its subsidiary.

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Straits Trading (STRTR SP)

ASEAN Builder's Scoop (6Oct22) - STRTR Prominent RE PE Player

Residential rents could continue climbing in 2H22; Hospitality sector limited supply; Aug22 retail sales fell 1.3% MoM; Phils inflation at 4yr high

SCCM Asia Research

ASEAN Builder's Scoop (19Sep22) - LHN Buys Co-Living Pasir Panjang Property

GUOL sold 84% of Lentor Modern at launch wkd; STRTR acq 20% stake in Aus Trust; MREIT below IPO price boosting yield appeal

SCCM Asia Research

ASEAN Builder's Scoop (16Sep22) - AAREIT Partners SP Group in ESG Move

UHU included in 3 indexes; New home sales take-up rate reached >300% in Aug22; FPL green note oversubsribed; New private home sales dropped 48% MoM...

SCCM Asia Research

ASEAN Builder's Scoop (6Sep22) - STRTR Venturing into High-Tech Warehouses

YLLG robust Aug22 pre-sales; Jul22 retail sales YoY growth slowed down; DMW growing rentals, heavy downside risks; Manila resi vacancy declining in...

SCCM Asia Research

ASEAN Builder's Scoop (15Aug22) - DASIN Defers Distributions, Extends Loan Facilities

BHGREIT dragged by one-off costs; UOL hotel ops leading the way; ART buys 9 props with +2.8% DPU accretion; STRTR divvy specie in ESR shares; ALI...

SCCM Asia Research

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