In today’s briefing:
- Paragon REIT (PGNREIT SP): Cuscaden Peak’s Attractive Privatisation Offer
- Japanese Auto, Tire Firms Sense Opportunity As Trump Clamps Tariffs
- Straits Times Index Makes Fresh All-Time High Above 3,900
Paragon REIT (PGNREIT SP): Cuscaden Peak’s Attractive Privatisation Offer
- Paragon REIT (PGNREIT SP) announced a privatisation proposal from Cuscaden Peak at S$1.0033 per unit (S$0.98 cash per unit and the 2H FY2024 distribution of S$0.0233 per unit).
- The offer price is attractive compared to historical trading ranges, peer multiples and precedent privatisations. It represents an all-time high.
- No disinterested shareholder holds a blocking stake. At the current price and for an end-of-May payment, the gross/annualised spread was 1.3%/4.6%.
Japanese Auto, Tire Firms Sense Opportunity As Trump Clamps Tariffs
- Japanese tire firms mull option of broadening production base in US
- May explore low-cost Southeast Asian destinations too
- Diversifying supply-chain network to be on top of agenda
Straits Times Index Makes Fresh All-Time High Above 3,900
- The Straits Times Index recorded a net institutional inflow of S$489 million over the 10-month period.
- DBS reported a record net profit of S$11.4 billion for FY24, with plans for capital management.
- Yangzijiang Shipbuilding led STI gains with a 65% price increase, continuing its trend from previous years.
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