UOB KAYHIAN |
UOB KAYHIAN |
STRATEGY – SINGAPORE
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Ascott Residence Trust (ART SP)
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UOB KAYHIAN |
UOB KAYHIAN |
1H22: Accelerate Recovery With Higher Room Rates For Singapore hotels, RevPAR doubled yoy to S$151 in 2Q22 with occupancy improving 5.3ppt yoy to 75.8% and ADR increasing 85% yoy to S$200. NPI from Singapore, Maldives and the UK grew 60.3%, 90.9% and 354% yoy respectively. Outlook is positive. Singapore will benefit from full impact of the reopening of international borders with the F1 Singapore Grand Prix in September and more than 66 international events in 2H22. Maintain BUY. Target price: S$1.54. |
Raffles Medical Group (RFMD SP)
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CGS CIMB | CGS CIMB |
Raffles Medical Group
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Mapletree Commercial Trust
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