PhillipCapital is keeping its “accumulate” rating on food court operator Koufu with an unchanged target price of 68 cents.

This comes on the back of the ahead-of-schedule sale of two of the group’s existing kitchens.

Koufu has granted an independent third party purchaser an option to purchase its two existing central kitchens located at 18 and 20 Woodlands Terrace for an aggregate consideration of $11.8 million, which works out to $312 per sq ft for their two central kitchens.

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