- 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 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