LHN - Maybank Research 2024-04-11: Expanding Co-living Capacity

LHN - Expanding Co-living Capacity

LHN (SGX:41O) | SGinvestors.ioLHN (SGX:41O)
  • LHN (SGX:41O) was awarded the former Bukit Timah Fire Station site to develop a mixed-use project with 60 serviced apartment units on levels 2 & 3, and a ground floor commercial F&B and retail operation. Refurbishment capex is estimated at around S$7m.
  • - Read this at SGinvestors.io -
  • We leave unchanged our forecasts and LHN's target price of S$0.45 (pegged at 8x FY24E P/E) for now. Maintain BUY rating.

Co-living within a community node

  • - Read this at SGinvestors.io -
  • Expected to open in 1H25, this latest project comes after two successful mixed-use projects with ground level F&B offerings (Coliwoo 450 SR & Coliwoo Balestier).
  • In our view, the Bukit Timah project should capitalize on LHN’s expertise and synergy across its business units in co-living, commercial and facility management.

New acquisition with prominent JV partner

  • 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/ 2024-04-11

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

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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