OUE

Debt and defaults

Debt danger lurks in Covid-19 shadow

More companies in danger of default given higher leverage, weaker balance sheets and greater risk of liquidity crunch amid the pandemic

Results

OUE reports FY2019 earnings of $255.2 million

SINGAPORE (Feb 20): Property developer OUE Limited has reported earnings of $255.2 million for FY2019, up from $10.0 million a year ago, on the back of a 4.8% y-o-y increase in revenue to $930.8 mi

Funds

OUE dumps stake in Nuvest Capital with no profit or loss

SINGAPORE (Apr 22): OUE announced it had sold its 33% stake in Nuvest Capital for US$1 million ($1.36 million).

The buyer was Aje Kumar Saigal who owns the other 67% of Nuvest Capital.

M&A

OUE buys 49.7% stake in F&B player from related Riady investment vehicle

SINGAPORE (Mar 17): OUE, the property group controlled by Stephen Riady, has acquired a 49.7% stake in Superfood Retail for $7.53 million.

Results

OUE reports 89% fall in FY18 earnings to $10 mil on lower fair value gains, goodwill impairment

SINGAPORE (Feb 27): OUE, the real estate owner, developer and operator, rounded off FY18 ended Dec with earnings of $10 million, down 89.4% from a restated $94.6 million from a year ago.

US Bank Tower in Los Angeles put up for sale by OUE

Property

US Bank Tower in Los Angeles put up for sale by OUE

(Jan 25): The US Bank Tower in downtown Los Angeles, known for its cameos in Hollywood movies and a sky-high outdoor glass slide, has been put up for sale.

Broker's Calls

OUE kept at 'buy' amid plans to clean up house

SINGAPORE (Nov 19): Deutsche Bank is keeping its “buy” recommendation on OUE with an unchanged target price of $3.00, amid plans by the real estate group to cash up for the next phase of growth.

M&A

OUE Lippo Healthcare to acquire stakes in First REIT, manager for $142 mil; to be funded via rights issue

SINGAPORE (Sept 18): OUE Lippo Healthcare (OUELH), the healthcare subsidiary of OUE, announced Tuesday it plans to acquire stakes in SGX-listed First Real Estate Investment Trust (First REIT) as we

Broker's Calls

OUE kept at 'buy' even as 1Q earnings plunge

SINGAPORE (May 15): OCBC Investment Research is keeping its “buy” recommendation on OUE, despite the property developer reporting a 91% plunge in earnings for the 1Q ended March.

Results

OUE reports 31.5% fall in FY17 earnings to $99 mil on provisions and absence of one-off gains

SINGAPORE (Feb 23): OUE, the integrated property developer, reported FY17 earnings fell 31.5% to $98.9 million from $144.4 million in FY16, led by lower earnings before interest and tax but partial

Be informed of the stories that matter