CapitaLand Ascott Trust - UOB Kay Hian 2024-10-02: Enlarging Scale In Home-base Singapore

• CapitaLand Ascott Trust has entered into an agreement to acquire the 329-room lyf Funan at an agreed property value of S$263m, which represents 1.9% discount to independent valuations. Sponsor The Ascott Limited owns 50% of lyf Funan.

Value creation from asset recycling.

• - Read this at SGinvestors.io -
• The property provides EBITDA yield of 4.7%, which is 1.5ppt higher than the exit EBITDA yield of 3.2% from divestment of Citadines Mount Sophia completed in Mar 24.

lyf Funan is tailored for the next-generation travellers.

• It caters to social living with its dynamic design and well-curated programmes. It caters to a wide range of guests from short to extended stays. lyf Funan has outperformed comparable properties in its sub-market by achieving occupancy of more than 80% in 1H24.
• - Read this at SGinvestors.io -

Funded through divestment and draw down of debt.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-07-30 CapitaLand Ascott Trust - Portfolio Reconstitution Through Expansion In Living Sector & AEI.

Previous report by UOB:
2025-01-28 CapitaLand Ascott Trust - Portfolio Reconstitution Starting To Bear Fruit.

Price targets by other brokers at CapitaLand Ascott Trust Target Prices.

Listing of research reports at CapitaLand Ascott Trust Analyst Reports.

Relevant links:
CapitaLand Ascott Trust Share Price History,
CapitaLand Ascott Trust Announcements,
CapitaLand Ascott Trust Dividend Payout Dates & Corporate Actions,
CapitaLand Ascott Trust News