Equity Analysis /
Singapore

SG : OUE Commercial REIT - Mixed performance

    Munyee Lock
    Munyee Lock

    Head of Regional Property

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    CGS-CIMB
    1 February 2021
    Published byCGS-CIMB

    FY20 DPU of 2.43 Scts was slightly below our expectations, at 92.4% of our full-year forecast. Office segment performed well; hospitality underpinned by master lease arrangements. Reiterate Hold with a lower DDM-based TP of S$0.415.