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Latest China expansion plans make Perennial an even better 'buy': DBS

Michelle Zhu
Michelle Zhu1/4/2018 11:31 AM GMT+08  • 2 min read
Latest China expansion plans make Perennial an even better 'buy': DBS
SINGAPORE (Jan 4): DBS Vickers Securities is reiterating its “buy” on Perennial Real Estate Holdings with a $1.05 price target given the research house is positive on its medium- to long-term development plans.
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SINGAPORE (Jan 4): DBS Vickers Securities is reiterating its “buy” on Perennial Real Estate Holdings with a $1.05 price target given the research house is positive on its medium- to long-term development plans.

This comes after the announcement last night of a Perennial-led consortium closing its first capital commitment to develop US$1.2 billion ($1.61 billion) worth of integrated healthcare property mixed developments in China, to be linked up by the upcoming high speed railway (HSR) network.

Perennial holds a 45% stake in the joint venture vehicle Perennial HC Holdings, with the remaining stakes held by Shun Tak Holdings (30%), Bangkok Bank (10%), a subsidiary of BreadTalk Group (5%), an investment vehicle of Kuok Khoon Hong (4%), S1F (4%) and a subsidiary of Wilmar International (2%).

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