Roxy-Pacific: To acq a commercial building at 116 Changi Rd at S$35.5m. Property has a showroom/retail space on first storey and an existing gross flr area of 50.9k sq ft equivalent to plot ratio of 3.0 over freehold site are of 17.0k sq ft. Cost to be funded by internal sources and bank borrowings…
Stock has been trading in an upward channel since Oct, now trading at resistance level $0.43. Possible break out since stock is testing the channel top for the 4th time. DBSV TP is at $0.55 up from $0.44 on 22 Dec. Trading on high side of P/E 7.4x, compared to avg at 5.9x.
P/B 1.72x compared to high of 1.8x and avg of 1.4x
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