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

SCCM Asia Research

Research from SooChow CSSD Capital Markets (Asia)

Thematic (Sector/Industry)

<h2>Singapore</h2><h3>Park Hotel Farrer Park relaunches under Holiday Inn brand</h3><p>The 300-room Park Hotel Farrer Park, owned by RB Capital and previously managed by Park Hotel Group, has been renamed Holiday Inn Singapore Little India. Its new manager, IHG Hotels &amp; Resorts, now manages three of RB Capital's Singapore hotels, totalling nearly 1,000 keys. The other two are Holiday Inn Express Clarke Quay, opened in 2014, and InterContinental Singapore Robertson Quay, opened in 2017. IHG operates 11 hotels in Singapore across a range of brands including Regent, InterContinental, Crowne Plaza, Hotel Indigo and Holiday Inn. There had been a few more years remaining on the management contract for Park Hotel Farrer Park, but due to the current situation with Park Hotel Management, RB Capital decided to sign on IHG to manage the property on a long-term basis.</p>

SingaporePark Hotel Farrer Park relaunches under Holiday Inn brandThe 300-room Park Hotel Farrer Park, owned by RB Capital and previously managed by Park Hotel Group, has been renamed Holiday Inn Singapore Little India. Its new manager, IHG Hotels &amp; Resorts, now manages three of RB Capital's Singapore hotels, totalling nearly 1,000 keys. The other two are Holiday Inn Express Clarke Quay, opened in 2014, and InterContinental Singapore Robertson Quay, opened in 2017. IHG operates 11 hotels in Singapore across a range of brands including Regent, InterContinental, Crowne Plaza, Hotel Indigo and Holiday Inn. There had been a few more years remaining on the management contract for Park Hotel Farrer Park, but due to the current situation with Park Hotel Management, RB Capital decided to sign on IHG to manage the property on a long-term basis.

External broker reports(aggregated public sources), TA Securities Holdings Berhad

TA Securities Holdings Bhd

External broker reports(aggregated public sources)

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<div class="content-highlight"><em>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.</em></div>

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.

Eying to Clear More Inventories in the Property Division

<h2>Singapore</h2><h3><a href="https://www.smartkarma.com/entities/capitaland-ltd" target="_blank" data-smartkarma-citation="entities:55" rel="noopener">Capitaland (CAPL SP)</a> and City Developments (CIT SP) set to launch CanningHill Piers in 4Q21</h3><p>CanningHill Piers, a 696-unit development located between Fort Canning Hill and Singapore River, is set to launch in 4Q21. The development, by joint developers CAPL and CIT, will feature two residential towers. One of them is 48 storeys at 180m tall, which the developers say will be the tallest residential development along the Singapore River. The other tower of 24 storeys overlooks Fort Canning Hill and is 100m in height. Unit types range from one- to five-bedders, Sky Suites, and a penthouse unit, of sizes from 410-8,950sqft.</p><h3>Strata office deals heating up; 1H21 transaction value at record high</h3><p>A 3,079sqft, strata-titled office unit on the 37th floor of Suntec Tower 1 of Suntec City changed hands recently for S$10.52m (S$3,417psf). The price achieved translates to a capital gain of 44% over two years as the seller had purchased the unit in Mar19 for S$7.3m (S$2,347psf). Total strata office transaction volume climbed steadily to 162 units in 1H21, up 20.9% HoH from 134 in 2H20, while total transaction values increased 106.6% over the same period to S$691.5m. This surpassed all previous half-yearly transaction values that hovered below S$600 m since 1H15. Many of the larger quantum sales took place in 2Q21, with 81 strata office deals worth S$454m recorded for 2Q21. This was up from S$237.5m in 1Q21 for the same number of units.</p>

SingaporeCapitaland (CAPL SP) and City Developments (CIT SP) set to launch CanningHill Piers in 4Q21CanningHill Piers, a 696-unit development located between Fort Canning Hill and Singapore River, is set to launch in 4Q21. The development, by joint developers CAPL and CIT, will feature two residential towers. One of them is 48 storeys at 180m tall, which the developers say will be the tallest residential development along the Singapore River. The other tower of 24 storeys overlooks Fort Canning Hill and is 100m in height. Unit types range from one- to five-bedders, Sky Suites, and a penthouse unit, of sizes from 410-8,950sqft.Strata office deals heating up; 1H21 transaction value at record highA 3,079sqft, strata-titled office unit on the 37th floor of Suntec Tower 1 of Suntec City changed hands recently for S$10.52m (S$3,417psf). The price achieved translates to a capital gain of 44% over two years as the seller had purchased the unit in Mar19 for S$7.3m (S$2,347psf). Total strata office transaction volume climbed steadily to 162 units in 1H21, up 20.9% HoH from 134 in 2H20, while total transaction values increased 106.6% over the same period to S$691.5m. This surpassed all previous half-yearly transaction values that hovered below S$600 m since 1H15. Many of the larger quantum sales took place in 2Q21, with 81 strata office deals worth S$454m recorded for 2Q21. This was up from S$237.5m in 1Q21 for the same number of units.

Malaysia

WCT Holdings Berhad provides civil engineering, specializing in earthworks, highway construction, and related infrastructure works.  The Company also operates in property investment and development as well as trades building materials.

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WCT Holdings (WCTHG MK)

ASEAN Builder's Scoop (8Sep21)

Park Hotel Farrer Park relaunched under IHG; AAREIT new CEO-designate; BSDE invests in DC business; WCTHG selling non-core assets; Phils Aug...

SCCM Asia Research

Eying to Clear More Inventories in the Property Division

Buy Wct Holdings Berhad: Eying to Clear More Inventories in the Property Division. - By: TA Securities Holdings Bhd

TA Securities Holdings Bhd

ASEAN Builder's Scoop (20Aug21)

CAPL/CIT to launch CanningHill Piers in 4Q21; Strata office deals hitting record in 1H21; ALI plans PHP88bn capex in 2021; S&P lowes Phils growth;...

SCCM Asia Research

On Track to Recovery

Buy Wct Holdings Berhad: On Track to Recovery. - By: TA Securities Holdings Bhd

TA Securities Holdings Bhd

Land Disposal for RM214.3mn

Buy Wct Holdings Berhad: Land Disposal for RM214.3mn. - By: TA Securities Holdings Bhd

TA Securities Holdings Bhd

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