SINGAPORE (Dec 19): Maybank Kim Eng Research is keeping its “hold” call on SPH REIT with a marginally higher target price of $1.02, raised from $1.00 previously, even as the REIT makes its first overseas foray.

SPH REIT on Tuesday announced it is acquiring an 85% stake in Australian property Figtree Grove Shopping Centre for A$175.1 million ($175.1 million), or A$188.2 million after including fees.

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