Research from SooChow CSSD Capital Markets (Asia), SCCM Asia Research

SCCM Asia Research

Research from SooChow CSSD Capital Markets (Asia)

Headquartered in Singapore, SooChow CSSD Capital Markets (Asia) is an investment bank focusing on emerging growth companies across Asia, providing a full suite of investment banking services, including corporate finance, mergers and acquisitions advisory, equity capital markets, institutional equities sales and trading and equities research.

SooChow CSSD Capital Markets (Asia)

Thematic (Sector/Industry)

<ul><li>Real Estate Sector: Further upside potential from policy easing (initiate with Outperform rating)</li><li>Privatization offer for <a href="https://www.smartkarma.com/entities/hwa-hong-corp-ltd" target="_blank" data-smartkarma-citation="entities:6648" rel="noopener">Hwa Hong Corp (HWAH SP)</a> closes with acceptance rate of 92.3%</li><li><a href="https://www.smartkarma.com/entities/centurion-corp-ltd" target="_blank" data-smartkarma-citation="entities:5186" rel="noopener">Centurion Corp (CENT SP)</a> expects at least 250% YoY growth in 1H22 net profit</li></ul>

Real Estate Sector: Further upside potential from policy easing (initiate with Outperform rating)Privatization offer for Hwa Hong Corp (HWAH SP) closes with acceptance rate of 92.3%Centurion Corp (CENT SP) expects at least 250% YoY growth in 1H22 net profit

ASEAN Builder's Scoop (2Aug22) - China Prop: Further Upside Potential from Policy Easing

<h2>Singapore</h2><h3><a href="https://www.smartkarma.com/entities/lendlease-group" target="_blank" data-smartkarma-citation="entities:11248" rel="noopener">Lendlease Group (LLC AU)</a> will begin construction on a large-scale Singapore vaccine facility in end-2021</h3><p>Lendlease is commencing construction on a large-scale, greenfield vaccine facility in late-2021. It did not disclose the identity of the client. The move comes as the Republic sees an increase in the number of Covid-19 vaccine-related investments, with three major pharmaceutical companies – BioNTech, Sanofi and Thermo Fisher Scientific – having plans to set up vaccine manufacturing facilities here. LLC has also been appointed to take on additional projects for existing Singapore clients, including expanding existing facilities to enhance their capabilities. The life sciences sector are one of LLC’s key focus areas where it is looking to apply its expertise across the integrated real estate value chain. In Mar21, LLC inked a partnership in the US with institutional investor Ivanhoe Cambridge to develop the 60 Guest Street project in Boston, a 320,000sqft life sciences hub.</p>

SingaporeLendlease Group (LLC AU) will begin construction on a large-scale Singapore vaccine facility in end-2021Lendlease is commencing construction on a large-scale, greenfield vaccine facility in late-2021. It did not disclose the identity of the client. The move comes as the Republic sees an increase in the number of Covid-19 vaccine-related investments, with three major pharmaceutical companies – BioNTech, Sanofi and Thermo Fisher Scientific – having plans to set up vaccine manufacturing facilities here. LLC has also been appointed to take on additional projects for existing Singapore clients, including expanding existing facilities to enhance their capabilities. The life sciences sector are one of LLC’s key focus areas where it is looking to apply its expertise across the integrated real estate value chain. In Mar21, LLC inked a partnership in the US with institutional investor Ivanhoe Cambridge to develop the 60 Guest Street project in Boston, a 320,000sqft life sciences hub.

Thailand

Frasers Property (Thailand) Public Company Limited operates as a real estate developer. The Company acquires, develops, owns, and manages hotels, residential, and commercial properties. Frasers Property serves customers in Thailand.

Frasers Property (Thailand) Pcl (FPT TB)

ASEAN Builder's Scoop (2Aug22) - China Prop: Further Upside Potential from Policy Easing

HWAH offer closes with 92.3% acceptance rate; CENT 1H22 profit guidance +>250% YoY; Reopening buoys SMPH 2Q22 earnings; Ascott to open 8 new...

SCCM Asia Research

ASEAN Builder's Scoop (8Oct21)

LLC begins SG vaccine facility in end-2021; OUECT S$540m green loan at 3.2%; HDB resale prices new record; Ascott expands Co-living biz; FPT...

SCCM Asia Research