Friday, March 18, 2011


Kepland: JV between NTUC Income and KepLand's Alpha Invtment Partners reported to be doing due diligence to purchase Capital Square. A deal cld be struck as early as next wk and mkt watchers tip the price to be in the region of sgd2300-2400/psf on net lettable area or total sgd889-927m…

Analysts expect price to be a discount to the $2400/psf that MBFC fetched due to age, location and lease remaining. CS has a total net lettable area of 386.5k sq ft comprising a 16-storey office twr, two rows of shophouses with a remaining lease of 84 yrs.KepLand now trades at P/B 1.3x close to its hist avg.

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