OUE

OUE: UOBK says look out for special div of potentially over $0.1 per sh on the gain of $116.1m from the divestment of Crowne Plaza hotel, even though the bulk of proceeds will be to pursue higher growth reinvestment opportunities. OUE's NTA and EPS is expected to rise to $4.29 / sh (from $4.11) and $1.21 (from $1.08), respectively. However, the divestment will mean a loss of annual income of about $12.5m. Meanwhile, the acquisition of Crowne Plaza hotel is DPU accretive for OUE H Trust and will increase its AUM by 28% to ~$2.3b. UOBK maintains Buy with TP $2.80 for OUE