In today’s briefing:
- Mapletree (MCT & MNACT) Response to SIAS
- SCCM | LHN SP – Acquires Freehold Property Along River Valley Road (BUY; TP SGD0.47/Share)
Mapletree (MCT & MNACT) Response to SIAS
- SIAS posed questions to both Mapletree Commercial Trust (MCT SP) and Mapletree North Asia Commercial Trust (MAGIC SP) (a.k.a. “MNACT”) about how the ratio was decided and deal appropriateness.
- SIAS also asked about whether the deal was absolutely necessary and whether MCT would change its mandate.
- MCT and MNACT responded with lengthy explanations, some of which didn’t answer the questions. That’s what we get til the end-March Circular. And that’s OK. The trade is the same.
SCCM | LHN SP – Acquires Freehold Property Along River Valley Road (BUY; TP SGD0.47/Share)
- LHN announced the acquisition of freehold property at 298 River Valley Road with land area of 205.4sqm for S$9.1m including GST
- Acquisition will be funded through its current cash balances as well as debt
- LHN intends to operate the property as a co-living space, expanding its COLIWOO portfolio of co-living keys from its current c.870 rooms.
Before it’s here, it’s on Smartkarma
