SINGAPORE (Sept 14): DBS Bank is keeping Perennial Real Estate Holdings on “buy” with a target price of $1.32.

This comes after Perennial on Tuesday said it is acquiring a 49.9% stake in Shanghai’s largest integrated eldercare services operator through a capital injection of RMB735.5 million ($149.7 million).

Shanghai Renshoutang is a private integrated eldercare company in China, with retirement, nursing and rehabilitation homes, hospital, day care centres, pharmacies and Traditional Chinese Medicine clinics.

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