External broker reports(aggregated public sources), Hong Leong Investment Bank Berhad

Hong Leong Investment Bank Berhad

External broker reports(aggregated public sources)

Hong Leong Investment Bank Berhad operates as an investment banking company. The Company provides debt and equity funding, private debt securities issuance, merger and acquisitions, initial public offerings, corporate restructuring, and stockbroking services. 

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Equity Bottom-Up

Hektar Real Estate Investment Trust / Equity Bottom-Up

Hektar Real Estate Investment Trust (HEKT MK)

<ul><li>Hektar has proposed to acquire the building and facilities of KYS College at a purchase consideration of RM150m, to be partially satisfied via 20% placement of existing issued units.</li><li>The property is being leased to KYSA Education Sdn Bhd (operator of KYS College), commencing from 22 June-23 on a quadruple-net lease basis for 30 years with a guaranteed rent of RM8.1m for the first year, followed by a 2.5% annual step up.</li><li>Based on our estimation, the deal is expected to enhance our FY23f forecasted core net profit by 18.9%. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hektar has proposed to acquire the building and facilities of KYS College at a purchase consideration of RM150m, to be partially satisfied via 20% placement of existing issued units.The property is being leased to KYSA Education Sdn Bhd (operator of KYS College), commencing from 22 June-23 on a quadruple-net lease basis for 30 years with a guaranteed rent of RM8.1m for the first year, followed by a 2.5% annual step up.Based on our estimation, the deal is expected to enhance our FY23f forecasted core net profit by 18.9%. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>We initiate coverage on Hektar with a HOLD recommendation and TP of RM0.60, based on FY24f DPU at a targeted yield of 11%.</li><li>We project Hektar’s earnings to grow by 9.5%/8.2%/3.5% for FY23f/FY24f/FY25f – mainly driven by expansion in occupancy rate offsetting the slight negative rental reversion.</li><li>Our forecasts imply a divvy yield of 9.0%/9.8%/10.1% for the corresponding periods.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We initiate coverage on Hektar with a HOLD recommendation and TP of RM0.60, based on FY24f DPU at a targeted yield of 11%.We project Hektar’s earnings to grow by 9.5%/8.2%/3.5% for FY23f/FY24f/FY25f – mainly driven by expansion in occupancy rate offsetting the slight negative rental reversion.Our forecasts imply a divvy yield of 9.0%/9.8%/10.1% for the corresponding periods.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Malaysia

Hektar Real Estate Investment Trust acquires and invests in income producing real estate in Malaysia.

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Hektar Real Estate Investment Trust (HEKT MK)

Hektar REIT - Foray into Education Asset

Hektar has proposed to acquire the building and facilities of KYS College at a purchase consideration of RM150m, to be partially satisfied via 20%...

Hong Leong Investment Bank Berhad

Hektar REIT - Poised for Steady Recovery

We initiate coverage on Hektar with a HOLD recommendation and TP of RM0.60, based on FY24f DPU at a targeted yield of 11%.

Hong Leong Investment Bank Berhad

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