SINGAPORE (June 20): RHB Research is maintaining Suntec REIT at ‘neutral’ despite an improved balance sheet, given operational weaknesses are expected to persist until 1H20.
This is because two of its seven assets are under development while Suntec City Offices is undergoing asset enhancements.
In Australia, its Olderfleet building is on track to be completed by mid-2020. Leasing progress has been healthy, with 76% pre-committed, and a heads of agreement signed for an additional 13%.
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