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Keeping the Crowne on OUE Hospitality Trust

Jude Chan
Jude Chan1/26/2017 12:12 PM GMT+08  • 2 min read
Keeping the Crowne on OUE Hospitality Trust
SINGAPORE (Jan 26): OCBC Investment Research is keeping OUE Hospitality Trust at “buy” with a higher fair value estimate of 75 cents, from 73 cents previously, on the back of gains from Crowne Plaza Changi Airport (CPCA).
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SINGAPORE (Jan 26): OCBC Investment Research is keeping OUE Hospitality Trust at “buy” with a higher fair value estimate of 75 cents, from 73 cents previously, on the back of gains from Crowne Plaza Changi Airport (CPCA).

This comes despite OUE H-Trust recording a 29.6% drop in FY16 DPU to 4.61 cents, mainly due to an enlarged unit base following the rights issue.

OUE H-Trust’s FY16 gross revenue dipped 1.7% to $122.5 million. This was mainly due to an 11.3% decline in retail revenue and partially mitigated by a 2.3% increase in contributions from hospitality.

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