In today’s briefing:
- SIAS Agrees The Widjaja Family’s Offer For Golden Energy Is Low-Balled
- Far East Hospitality Trust: A Good Ending to 2022
SIAS Agrees The Widjaja Family’s Offer For Golden Energy Is Low-Balled
- The Widjaja family’s Offer for Golden Energy (GER SP) back in November has been derided in the press, one outspoken minority shareholder, and (a loosely veiled statement) by Singapore RegCo.
- Now the Securities Investors Association (Singapore) (SIAS) has thrown its hat into the ring and has called on GEAR to improve the Offer for shareholders.
- The long stop date was surprisingly pushed back five months to satisfy the Exit offer conditions. This delay should avail the family of ample time to bump terms.
Far East Hospitality Trust: A Good Ending to 2022
- 2H22 and FY22 DPU rose 13.1% and 24.3% YoY respectively
- 4Q22 hotels RevPAR reached 90% of 4Q19. 4Q22 SR RevPAU surpassed 4Q19 level by 15%
- Far East Hospitality Trust’s (FEHT) 2H22 distribution per unit (DPU) increased 13.1% year-on year (YoY) to 1.73 Singapore cents, bringing full year DPU to 3.27 Singapore cents (+24.3%).
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