LHN Limited - Maybank Research 2023-08-02: Hopes Rise For Divestment Approval; Reiterate BUY

• LHN has received JTC Corporation’s email consent that it has no objection to grant the change of ownership for a property indirectly held by LHN Logistics. In addition, shareholders have voted overwhelmingly by 99.99% for the proposed sale of its logistics arm. This would fulfil two pre-conditions for the divestment to go through.
• - Read this at SGinvestors.io -
• We remain positive on LHN and maintain our 12-month target price of S$0.54, still based on 8x FY24E. Reiterate BUY.

Received shareholder approval

• - Read this at SGinvestors.io -
• shareholders’ consent at the EGM held on 31 Jul 2023.
• Located at 7 Gul Avenue, the container depot has a land area of 22,480 sqm, handling up to 4,500 TEUs. Acquired from Amos Group for S$13m in 2019, it is the only container depot owned by LHN in Singapore.

Expect more capital recycling in the pipeline

• Read more at SGinvestors.io.

Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.

Read also Maybank's most recent report:
2025-03-06 LHN - Executing Its Expansion Plans.

Previous report by Maybank:
2024-12-02 LHN - Core Earnings A Beat; Make Yourself At Home.

Price targets by other brokers at LHN Target Prices.

Listing of research reports at LHN Analyst Reports.

Relevant links:
LHN Share Price History,
LHN Announcements,
LHN Dividend Payout Dates & Corporate Actions,
LHN News