LHN (SGX:41O) released its 1QFY25 voluntary business update with no financial details. As at 31 Dec 2024, LHN maintained healthy overall occupancy rate of over 95% for its industrial, commercial and Coliwoo co-living space (excluding JV properties and those under progressive handover).
1Q25 operationally on track, maintain BUY
- Read this at SGinvestors.io -
We keep our FY25-27E estimates intact and retain BUY with an unchanged LHN's target price of S$0.55, pegged at an undemanding 7x forward P/E.
Co-living business remains the key contributor
- Read this at SGinvestors.io -
Looking ahead, management expects the demand for both short-term and long-term rentals to remain strong in 2025 due to
rising expatriate hiring and limited supply of new housing units and
continued recovery in international visitor arrivals.
To-date, LHN has also issued six options-to-purchase for its newly constructed LHN Food Chain food factory at 55 Tuas South Avenue 1.
Further expanding its Coliwoo portfolio
Read more at SGinvestors.io.
Above is an excerpt from a report by Maybank Research. Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.
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