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/yanlord-land-group-ltd" target="_blank" data-smartkarma-citation="entities:14152" rel="noopener">Yanlord Land (YLLG SP)</a> sold out 100% of Suhe Century in Shanghai at launch</li><li>CK Holdings selling Tampines HQ building at guided price of S$32m</li><li>Another entire floor at Suntec City T2 is on market at record-breaking S$3,600psf</li></ul>

Yanlord Land (YLLG SP) sold out 100% of Suhe Century in Shanghai at launchCK Holdings selling Tampines HQ building at guided price of S$32mAnother entire floor at Suntec City T2 is on market at record-breaking S$3,600psf

ASEAN Builder's Scoop (13Jul22) - YLLG Sold 100% of Suhe Century Shanghai at Launch

<ul><li><a href="https://www.smartkarma.com/entities/oxley-holdings-ltd" target="_blank" data-smartkarma-citation="entities:1097" rel="noopener">Oxley Holdings (OHL SP)</a> to focus on developed countries; SG residential projects are ~99% sold</li><li><a href="https://www.smartkarma.com/entities/yanlord-land-group-ltd" target="_blank" data-smartkarma-citation="entities:14152" rel="noopener">Yanlord Land (YLLG SP)</a> Jun22 contracted pre-sales up 201.0% YoY; 1H22 pre-sales rose 9.5% YoY</li><li>Park Hotel Management’s director sued by company and its liquidators over disposal of assets</li></ul>

Oxley Holdings (OHL SP) to focus on developed countries; SG residential projects are ~99% soldYanlord Land (YLLG SP) Jun22 contracted pre-sales up 201.0% YoY; 1H22 pre-sales rose 9.5% YoYPark Hotel Management’s director sued by company and its liquidators over disposal of assets

ASEAN Builder's Scoop (5Jul22) - OHL Focuses on Developed Countries

<ul><li><a target="_blank">EC World REIT (ECWREIT SP) extends onshore loan facilities to Apr23; Receiving same terms as offshore facilities</a></li><li>CBD Grade A office rents may surpass pre-pandemic peak by 3Q22; 2Q22 rents rose 2.7% QoQ</li><li><a href="https://www.smartkarma.com/entities/straits-trading-co-ltd" target="_blank" data-smartkarma-citation="entities:15745" rel="noopener">Straits Trading (STRTR SP)</a> unit acquires office/industrial buildings and land in UK for GBP130m</li></ul>

EC World REIT (ECWREIT SP) extends onshore loan facilities to Apr23; Receiving same terms as offshore facilitiesCBD Grade A office rents may surpass pre-pandemic peak by 3Q22; 2Q22 rents rose 2.7% QoQStraits Trading (STRTR SP) unit acquires office/industrial buildings and land in UK for GBP130m

ASEAN Builder's Scoop (30Jun22) - ECWREIT Extends Onshore Loan Facilities

<ul><li><a href="https://www.smartkarma.com/entities/capitaland-investment-ltd-si" target="_blank" data-smartkarma-citation="entities:33774" rel="noopener">CapitaLand Investment (CLI SP)</a> acquires 22-storey office tower in Melbourne’s CBD</li><li><a href="https://www.smartkarma.com/entities/yanlord-land-group-ltd" target="_blank" data-smartkarma-citation="entities:14152" rel="noopener">Yanlord Land (YLLG SP)'</a>s contracted pre-sales down 70% to RMB1.1bn in May22</li><li>More short-term lease sites to be released as Govt studies impact of flexi-work arrangements</li></ul>

CapitaLand Investment (CLI SP) acquires 22-storey office tower in Melbourne’s CBDYanlord Land (YLLG SP)'s contracted pre-sales down 70% to RMB1.1bn in May22More short-term lease sites to be released as Govt studies impact of flexi-work arrangements

ASEAN Builder's Scoop (7Jun22) - CLI Acquires Office Tower in Melbourne

<ul><li><a href="https://www.smartkarma.com/entities/manulife-us-reit" target="_blank" data-smartkarma-citation="entities:567" rel="noopener">Manulife US REIT (MUST) (MUST SP)</a> 1Q22 Business Updates – Slow and bumpy return to office</li><li><a href="https://www.smartkarma.com/entities/first-real-estate-investment-trust" target="_blank" data-smartkarma-citation="entities:15848" rel="noopener">First REIT (FIRT SP)</a> 1Q22 DPU +1.5% YoY; New chapter began with a steady DPU growth and lower gearing</li><li>ABSD of 35% to be imposed on transfers of residential property to living trust</li></ul>

Manulife US REIT (MUST) (MUST SP) 1Q22 Business Updates – Slow and bumpy return to officeFirst REIT (FIRT SP) 1Q22 DPU +1.5% YoY; New chapter began with a steady DPU growth and lower gearingABSD of 35% to be imposed on transfers of residential property to living trust

ASEAN Builder's Scoop (9May22) - MUST Slow and Bumpy Road

Singapore

Yanlord Land Group Ltd is a real estate development company. The Company develops high-end residential property projects in the Peoples Republic of China.

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Yanlord Land (YLLG SP)

ASEAN Builder's Scoop (13Jul22) - YLLG Sold 100% of Suhe Century Shanghai at Launch

CK Holdings selling Tampines HQ; Suntec T2 entire floor on market at record S$3,600psf; Phils FDI inflows surge to 4mo high; Thai prop support...

SCCM Asia Research

ASEAN Builder's Scoop (5Jul22) - OHL Focuses on Developed Countries

YLLG Jun22 pre-sales rebounded; Park Hotel Mgmt director sued; SPSB completed Setia City Mall expansion; Phils CPI out this am

SCCM Asia Research

ASEAN Builder's Scoop (30Jun22) - ECWREIT Extends Onshore Loan Facilities

CBD Grade A rents rose 2.7% QoQ in 2Q22; STRTR unit buys UK office/industrial props; Phils 2Q22 office demand more than doubles; BHI ventures into...

SCCM Asia Research

ASEAN Builder's Scoop (7Jun22) - CLI Acquires Office Tower in Melbourne

YLLG's pre-sales down 70% in May22; Gov't to release commercial sites with 15-30 year lease tenures; Paya Lebar Air Base to be redeveloped; BKSL to...

SCCM Asia Research

ASEAN Builder's Scoop (9May22) - MUST Slow and Bumpy Road

FIRT new chapter began with steady growth; ABSD 35% imposed to Living Trust; Piccadilly Grand 77% sold; BS previews Liv @ MB; YLLG Apr22 presales...

SCCM Asia Research

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