This undervalued developer could be ripe for a REIT: RHB

By Michelle Zhu / EdgeProp | September 27, 2018 1:12 PM SGT
SINGAPORE (Sept 27): RHB is highlighting Ho Bee Land as a potential REIT and privatisation candidate with a sustainable 4% yield.
At the share price of $2.50, the stock is trading at a deep 48% discount to its latest book value of $4.78 per share, in line with the 30-60% discount seen among its mid-cap developer peers.
In an unrated report on Wednesday, analyst Vijay Natarajan says he believes there is room for this discount to narrow given Ho Bee’s minimal exposure to Singapore residential properties and healthy recurring income base.
Read more at The Edge Singapore.