- 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:
2024-09-05 LHN Limited - Operations On Track.
Previous report by Maybank:
2024-05-16 LHN Limited - Co-living To Drive Growth; Core Profit Above Estimates.
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 Dividends & Corporate Actions,
LHN News Articles
