Equity Analysis /
Singapore

SG : OUE Commercial REIT - A mixed quarter

    Munyee Lock
    Munyee Lock

    Head of Regional Property

    CGS-CIMB
    16 May 2022
    Published by

    1Q22 revenue/NPI slightly below, at 23.8%/24.2% of our FY22F forecasts. Focus on improving commercial occupancy; Hilton Singapore Orchard commenced operations in Feb 2022. Reiterate Hold with a lower DDM-based TP of S$0.43.