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.

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.

Bonus:

  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply

Subscribe

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook