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Far East Hospitality Trust's Downtown acquisition keeps it at 'add'

Samantha Chiew
Samantha Chiew1/15/2018 10:55 AM GMT+08  • 2 min read
Far East Hospitality Trust's Downtown acquisition keeps it at 'add'
SINGAPORE (Jan 15): CIMB is maintaining its “add” call on Far East Hospitality Trust (FEHT) with a target price of 82 cents.
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SINGAPORE (Jan 15): CIMB is maintaining its “add” call on Far East Hospitality Trust (FEHT) with a target price of 82 cents.

This came on the back of the trust announcing on Jan 12 that it will be acquiring the Oasia Hotel Downtown from its sponsor for $210 million.

Sponsor Far East SOHO a member of the Far East Organisation group of companies, is selling the 65-year leasehold estate in Oasia Hotel Downtown, a 314-room upscale hotel in Tanjong Pagar, under its right of first refusal agreement with FEHT.

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