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RHB keeps 'neutral' on CDLHT as its 3QFY21 and 9MFY21 operational numbers perform below expectations

Felicia Tan
Felicia Tan11/5/2021 12:45 PM GMT+08  • 2 min read
RHB keeps 'neutral' on CDLHT as its 3QFY21 and 9MFY21 operational numbers perform below expectations
RHB now expects a “meaningful recovery” for the hospitality sector only in 2023, compared to the 2H2022 as previously thought.
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RHB Group Research analyst Vijay Natarajan has kept “neutral” on CDL Hospitality Trusts (CDLHT) with an unchanged target price of $1.25.

Natarajan’s Nov 1 report came after the REIT posted its business update for the 3QFY2021 ended September on Oct 29.

For the 3QFY2021, CDLHT’s net property income (NPI) stood 34.8% higher y-o-y at $20.5 million. Revenue for the quarter increased by 32.8% y-o-y to $40 million.

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