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>NTUC Enterprise weighs US$2.9bn mall portfolio sale - NTUC Enterprise Co-operative is exploring a sale of its retail malls for about S$4bn (US$2.9bn).</li><li>JustCo to open 4 new Co-working spaces in APAC; Silom Edge Bangkok to open by Sep22</li><li><a href="https://www.smartkarma.com/entities/eco-world-international-bhd" target="_blank" data-smartkarma-citation="entities:24034" rel="noopener">Eco World International Bhd (ECWI MK)</a> secured 57% of sales target in 7 months</li></ul>

NTUC Enterprise weighs US$2.9bn mall portfolio sale - NTUC Enterprise Co-operative is exploring a sale of its retail malls for about S$4bn (US$2.9bn).JustCo to open 4 new Co-working spaces in APAC; Silom Edge Bangkok to open by Sep22Eco World International Bhd (ECWI MK) secured 57% of sales target in 7 months

ASEAN Builder's Scoop (17Jun22) - NTUC Weights US$2.9bn Mall Portfolio Sale

<h2>Singapore</h2><h3><a href="https://www.smartkarma.com/entities/lhn-ltd" target="_blank" data-smartkarma-citation="entities:27234" rel="noopener">LHN Ltd (LHN SP)</a> revamps 1557 Keppel Road into office and Co-living spaces</h3><p>Once the nine-years lease was up in Dec19 for 1557 Keppel Road, LHN, the master tenant of the state land, decided to repurpose the place on a fresh term of lease into an integrated space comprising office and co-living spaces, occupying over 96,299sqft. The renovations took about 10 months, with delays due to the pandemic. The co-living business at the development runs under LHN’s brand Coliwoo, which has a total of over 800 rooms in the city-state. Coliwoo also operates in other areas like Balestier, Boon Lay and Bukit Timah. To date, LHN says 50% of its office spaces are already leased out. Confirmed tenants include a digital media and financial consultancy firm, while arrangements are still pending with three other businesses: an architectural firm, a digital media consultancy and a FinTech company. There will also be a gym operated by Anytime Fitness, and an F&amp;B eatery catering to the office and residential tenants within the development. At Coliwoo 1557 Keppel Road, LHN has also carved out 47 co-living units ranging from 180-260sqft across two residential blocks. Due to pandemic-led lockdowns, Coliwoo has seen demand from locals increase to 30% from 10% previously.</p>

SingaporeLHN Ltd (LHN SP) revamps 1557 Keppel Road into office and Co-living spacesOnce the nine-years lease was up in Dec19 for 1557 Keppel Road, LHN, the master tenant of the state land, decided to repurpose the place on a fresh term of lease into an integrated space comprising office and co-living spaces, occupying over 96,299sqft. The renovations took about 10 months, with delays due to the pandemic. The co-living business at the development runs under LHN’s brand Coliwoo, which has a total of over 800 rooms in the city-state. Coliwoo also operates in other areas like Balestier, Boon Lay and Bukit Timah. To date, LHN says 50% of its office spaces are already leased out. Confirmed tenants include a digital media and financial consultancy firm, while arrangements are still pending with three other businesses: an architectural firm, a digital media consultancy and a FinTech company. There will also be a gym operated by Anytime Fitness, and an F&amp;B eatery catering to the office and residential tenants within the development. At Coliwoo 1557 Keppel Road, LHN has also carved out 47 co-living units ranging from 180-260sqft across two residential blocks. Due to pandemic-led lockdowns, Coliwoo has seen demand from locals increase to 30% from 10% previously.

ASEAN Builder's Scoop (21May21) - LHN unveils 1557KR Co-living and office space

Philippines

Alliance Global Group, Inc. is a Philippine conglomerate with diverse business interests in real estate development through Megaworld Corporation, food and beverage manufacturing and distribution via Emperador Inc., tourism, entertainment, and gaming through Travellers International, and quick-service restaurants, primarily McDonald's operations in the Philippines through Golden Arches Development Corporation. The company was founded in 1993 and is headquartered in Quezon City, Philippines.

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Alliance Global Group (AGI PM)

ASEAN Builder's Scoop (17Jun22) - NTUC Weights US$2.9bn Mall Portfolio Sale

JustCo opening 4 more Co-working space in APAC; ECWI secured 57% of FY sales target; LAND projects IDR75bn capex; AGI increases capex budget +33% YoY

SCCM Asia Research

ASEAN Builder's Scoop (21May21) - LHN unveils 1557KR Co-living and office space

LHN unveils 1557KR Co-living and office space; SUN rolls out tenant supports; HK starts REIT subsidy to rival SG, Japan; AGI weak 1Q21 results; LBS...

SCCM Asia Research

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