In today’s briefing:
- AVJennings (AVJ AU): Ho Bee Emerges with a Competing Offer
- Asia Real Estate Tracker (15-Jan-2025): Santarli, Apex $368M top bid for West Singapore site
- FP Partner (7388 JP): Full-year FY11/24 flash update
AVJennings (AVJ AU): Ho Bee Emerges with a Competing Offer
- Avjennings Ltd (AVJ AU) disclosed a competing non-binding proposal from Ho Bee Land Ltd (HOBEE SP) at A$0.70, a 4.5% premium to AVID’s A$0.67 offer.
- The potential for a Ho Bee competing offer was discussed in AVJennings (AVJ AU): Competing Offer Brewing.
- Despite the hefty premium to the undisturbed price, the Ho Bee offer is below NTA. Therefore, there is headroom for a bidding war as an offer at NTA implies A$0.81.
Asia Real Estate Tracker (15-Jan-2025): Santarli, Apex $368M top bid for West Singapore site
- Santarli and Apex make joint bid worth $368M for a site in Western Singapore, expanding their real estate portfolio.
- CVC-backed chain competes for First REIT’s Indonesian assets valued at $599M, increasing their presence in the market.
- EdgeConneX ventures into Japan with a 140MW data center project in Greater Osaka, showcasing their global growth strategy.
FP Partner (7388 JP): Full-year FY11/24 flash update
- FY11/24 revenue was JPY35.6bn (+16.6% YoY), operating profit JPY5.3bn (-4.0% YoY), with EPS at JPY169.85.
- FY11/25 forecasts JPY40.2bn revenue (+13.0% YoY), JPY6.1bn operating profit (+15.0% YoY), and JPY175.89 EPS.
- Company plans growth investments, 700 new hires, and aims for 100,000 policy transfers in FY11/25.
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