OUE

OUE: Expect positive interests to continues, after OUE attained shareholders approval in its EGM yesterday, in regards to its proposed disposal of OUE Bayfront Property to OUE Commercial REIT and the proposed distribution in species in OUE Hospitality Trust to shareholders of the company. OUE’s share price has been pretty strong the last two weeks. So far this yr, after its successful listing of OUE H-T, OUE has paid abt 36¢ of div in total, which represents abt 13.7% yield. Most investors are not ruling out another special div now given that it’s a matter of time before OUE bayfront gets divested. Valuations are still pretty compelling at 50% discount to RNAV and 0.75x P/B.