Thursday, April 2, 2015

First REIT

First REIT: Share price steadily climbing, from favourable attention from several brokers. This REIT is also one of the corporates featured in Maybank Kim Eng’s Invest ASEAN conference.

CIMB just did a visit with two hospitals in Indonesia, and cites that equipment are well maintained. Occupancies were healthy at about 70%, despite the two hospitals they chose to visit were relatively new, opening in 2011-12

Otherwise, the house reiterates First REIT is a vehicle to ride on the growth of Indonesian healthcare infrastructure, alongside Siloam Hospital and Lippo Karawaci, and their plans to double beds to 10,000 by 2017

CIMB maintains Add with TP of $1.48

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