OUE

OUE: Chairman Mr Riady reiterated his stance in a CIMB Roadshow in Europe, that there will not be any more placements of vendor shares for refinancing purposes, and that OUE will remain as a Singapore pure-play. Add that a hotel REIT is an option for OUE but only when its asset base matures and reaches a critical mass. The focus now is to deliver results, enhance asset value and remain vigilant on potential accretive acquisitions. CIMB maintains O/p with $4.16 TP.'