HPL

HPL: + 10.6%, with sharp spike up in the last few mins Kim Eng had a report on grp this morning with Buy call and TP $2.75. Note that Hotel Properties holds a prime global portfolio of hotels, investments and residential properties. Based on current market value, e believe HPL is worth more than twice its current share price. Orchard Parade Holding’s spin-off of Orchard Parade Hotel into Far East Hospitality REIT highlights the undervaluation of HPL’s asset in the Orchard Road area. With a benchmark of almost $1.1m per key, similar valuations for the Hilton Singapore and Four Seasons may be worth up to $1.47/share.