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

LHN Limited - Hopes Rise For Divestment Approval; Reiterate BUY

Published:
LHN (SGX:41O) | SGinvestors.ioLHN (SGX:41O)
  • 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 the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.




Li Jialin Maybank Research | Eric Ong Maybank Research | https://www.maybank-ke.com.sg/ 2023-08-02



Read also Maybank's most recent report:
2024-05-16 LHN Limited - Co-living To Drive Growth; Core Profit Above Estimates.

Previous report by Maybank:
2024-04-11 LHN - Expanding Co-living Capacity.

Price targets by 2 other brokers at LHN Target Prices.

Listing of research reports at LHN Analyst Reports.

Relevant links:
LHN Share Price History,
LHN Announcements,
LHN Dividends & Corporate Actions,
LHN News Articles





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