Wednesday, July 1, 2015
SingHaiyi Group
SingHaiyi Group: RHB is neutral overall on SingHaiyi’s 3-party JV with its controlling shareholder and Suntec REIT to redevelop Park Mall. The house reiterates its BUY rating with TP: $0.18. At a GAV of $2180psf, valuations are on the richer-end and believe this will be a longer-term story for SingHaiyi to capture value from this undertaking.
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