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><a href="https://www.smartkarma.com/entities/cromwell-european-real-estate" target="_blank" data-smartkarma-citation="entities:25889" rel="noopener">Cromwell European REIT (CERT SP)</a> to divest 3 light industrial/logistics asset in Germany and France for EUR22m</li><li><a href="https://www.smartkarma.com/entities/esr-group-limited" target="_blank" data-smartkarma-citation="entities:27983" rel="noopener">ESR Group (1821 HK)</a> in partnership with GIC to launch its Australia third core-plus logistics fund</li><li><a href="https://www.smartkarma.com/entities/kop-ltd" target="_blank" data-smartkarma-citation="entities:8401" rel="noopener">Kop Ltd (KOPL SP)</a> auditors flagged material uncertainty as a going concern</li></ul>

Cromwell European REIT (CERT SP) to divest 3 light industrial/logistics asset in Germany and France for EUR22mESR Group (1821 HK) in partnership with GIC to launch its Australia third core-plus logistics fundKop Ltd (KOPL SP) auditors flagged material uncertainty as a going concern

ASEAN Builder's Scoop (12Sep22) - CERT Divests 3 Logistics Assets for EUR22m

<ul><li>Freehold GCB at Swiss Club Road up for sale at S$39.9m; 1H22 tally -60% YoY</li><li>Collective sale attempt for People’s Park Centre closed without any bids</li><li>Belmont Road bungalow on sale for S$55.5m or S$2,055psf; Seller to gain ~60% profit</li></ul>

Freehold GCB at Swiss Club Road up for sale at S$39.9m; 1H22 tally -60% YoYCollective sale attempt for People’s Park Centre closed without any bidsBelmont Road bungalow on sale for S$55.5m or S$2,055psf; Seller to gain ~60% profit

ASEAN Builder's Scoop (19Aug22) - GCB 1H22 Tally Fell -60% YoY

<ul><li><a href="https://www.smartkarma.com/entities/capitaland-integrated-commercial-trust" target="_blank" data-smartkarma-citation="entities:105" rel="noopener">Capitaland Integrated Commercial Trust (CICT SP)</a> 1H22 DPU +0.8% YoY; Retail turning around led by Downtown malls, but rising energy cost a concern</li><li><a href="https://www.smartkarma.com/entities/keppel-pacific-oak-us-reit" target="_blank" data-smartkarma-citation="entities:25988" rel="noopener">Keppel Pacific Oak US REIT (KORE SP)</a> 2Q22 DPU -9.5% YoY; Declining reversions continue  </li><li><a href="https://www.smartkarma.com/entities/chip-eng-seng-corp-ltd" target="_blank" data-smartkarma-citation="entities:6441" rel="noopener">Chip Eng Seng Corp (CHIP SP)</a> to acquire Park View Mansions development for S$260m</li></ul>

Capitaland Integrated Commercial Trust (CICT SP) 1H22 DPU +0.8% YoY; Retail turning around led by Downtown malls, but rising energy cost a concernKeppel Pacific Oak US REIT (KORE SP) 2Q22 DPU -9.5% YoY; Declining reversions continue  Chip Eng Seng Corp (CHIP SP) to acquire Park View Mansions development for S$260m

ASEAN Builder's Scoop (28Jul22) - CICT Rising Energy Cost a Concern

<ul><li><a href="https://www.smartkarma.com/entities/frasers-logistics-commercial-trust" target="_blank" data-smartkarma-citation="entities:22748" rel="noopener">Frasers Logistics &amp; Commercial Trust (FLT SP)</a> acquires suburban commercial property in AUS for A$60.3m</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> acquires freehold student accommodation in Nottingham, UK for GBP10.4m</li><li>Highly leveraged homeowners face headwinds from rising rates, large incoming supply</li></ul>

Frasers Logistics &amp; Commercial Trust (FLT SP) acquires suburban commercial property in AUS for A$60.3mCenturion Corp (CENT SP) acquires freehold student accommodation in Nottingham, UK for GBP10.4mHighly leveraged homeowners face headwinds from rising rates, large incoming supply

ASEAN Builder's Scoop (20May22) - FLT Buys AUS Commercial Prop for ~A$60m

Philippines

Bloomberry Resorts is a holding company that develops and operates integrated resorts featuring premium accommodations, gaming, and entertainment amenities. The company owns and operates Solaire Resort Entertainment City in the Philippines, as well as has investments in South Korea. It was incorporated on May 3, 1999, and is headquartered in Parañaque City, Philippines.

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Bloomberry Resorts (BLOOM PM)

ASEAN Builder's Scoop (12Sep22) - CERT Divests 3 Logistics Assets for EUR22m

ESR/GIC launching 3rd AUS fund; KOPL auditors flagged material uncertainty; RCR detailed value-accretive infusions; Colliers Phils - FDI to drive...

SCCM Asia Research

ASEAN Builder's Scoop (19Aug22) - GCB 1H22 Tally Fell -60% YoY

People's Park Centre enbloc attempt failed; BLOOM to develop new Cavite casino; Phils BSP hikes benchmark rate; Manila retail prices accelerated in...

SCCM Asia Research

ASEAN Builder's Scoop (28Jul22) - CICT Rising Energy Cost a Concern

KORE declining reversions continue; Orchard Bel-Air en-bloc sale for S$587.5m; SIRI to launch 31 projects worth THB31.2bn; BLOOM tops off Solaire...

SCCM Asia Research

ASEAN Builder's Scoop (20May22) - FLT Buys AUS Commercial Prop for ~A$60m

CENT buys Nottingham PBSA for ~GBP10m; Resi oversupply + rising rates = perfect storm; BLOOM to develop IR in Cavite; BKK housing demand rebounded...

SCCM Asia Research

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