Suntec REIT - RHB Research 2025-01-27: Backstop In Place; Keep BUY

• The ongoing privatisation offer deeply undervalues its long-term potential and is unlikely to be successful – but rather sets a floor to Suntec REIT's share price.
• - Read this at SGinvestors.io -
• Overseas markets, which have been underperforming, are set to bottom out, with improving office outlook and rate cuts commencing.

We recommend unitholders to reject privatisation offer

• We recommend unitholders to reject the low-ball privatisation offer of S$1.19/share, which values Suntec REIT at a 42% discount to its latest book value. The book value is conservative in our view, considering that its key asset Suntec Office is valued at S$2,716 psf vs strata Suntec office units that were divested in the market at 20% higher PSF.
• - Read this at SGinvestors.io -

Expect more divestments in FY25

• Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Previous report by RHB:
2024-10-28 Suntec REIT - Steadily Improving; BUY.

Price targets by 3 other brokers at Suntec REIT Target Prices.

Listing of research reports at Suntec REIT Analyst Reports.

Relevant links:
Suntec REIT Share Price History,
Suntec REIT Announcements,
Suntec REIT Dividend Payout Dates & Corporate Actions,
Suntec REIT News