LHN - Lim & Tan Securities 2023-09-22: Cash Infusion From Divestment

LHN - Cash Infusion From Divestment

LHN (SGX:41O) | SGinvestors.ioLHN (SGX:41O)
  • In a recent 3QFY23 business update, LHN (SGX:41O) reported strong momentum across its core business segments of space optimization, property development, facilities management and energy.
  • Coliwoo’s co-living 1,681 keys enjoy average room rates of S$2,200-S$3,500 and are backed by solid occupancy rates of 85%-100%.
  • - Read this at SGinvestors.io -
  • Divestments over the year amount to S$48.5mln and will provide LHN with capital for expansion opportunities. Maintain BUY with a target price of S$0.50, pegged to 7.5x core FY23F P/E (25% discount to core historical average P/E of 10.0x).

Completed disposal of LHN Logistics.

  • - Read this at SGinvestors.io -
  • LHN intends to use the cash consideration for general working capital purposes and channel resources to its other core business segments. Gain on disposal is worth 4.4 cents/share and will provide LHN firepower to accelerate expansion in the midst of a co-living boom.

Strong Operational Performance, Steady Flow of Contracts:

Space Optimisation Business.

  • Read more at SGinvestors.io.

Chan En Jie Lim & Tan Securities Research | https://www.limtan.com.sg/ 2023-09-22

Previous report by LIM:
2023-08-10 LHN - Additions To Co-living Pipeline.

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


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