Singapore Stock Market News

Singapore REITs - 2Q18: CDL Hospitality (In Line), 3QFY18: FHT (Below)

StockFanatic
Publish date: Mon, 30 Jul 2018, 01:01 PM
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CDREIT's 2Q18 results were in line but FHT's was below expectations. CDREIT's Singapore RevPAR fell marginally by 0.9% yoy amid weaker corporate demand and competition in RFPs by new hotels although this should subside as supply of new rooms in Singapore is expected to taper to 1.3% in 2017-20 (2014-17: CAGR of 5.5%). Maintain BUY with a lower target price of S$1.86. FHT's Singapore portfolio continued to do well in anticipation of a stronger 2H18 but we see weakness across its Australia and Malaysia markets. Maintain BUY with a lower target price of S$0.82. Maintain OVERWEIGHT. Read More
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