,Singapore

CDLHT, FEHT to see improved results going into 2022

This was according to a report published by UOBKayHian. 

A report published by UOBKayHian’s Jonathan Koh revealed positive ratings for both City Developments Hospitality Trusts (CDLHT) and Far East Hospitality Trust (FEHT). 

On the side of CDHL, W Hotel experienced a boost due to staycation demand, with the hotel’s RevPAR rebounding 28% quarter-on-quarter (QoQ) to $221 in the third quarter (Q3) of 2021. 

Grand Millenium Auckland, another property owned by CDHL, continues to serve as a managed isolation facility since the second quarter of 2020. The contract is set to expire in the first quarter of 2022, and amounted for 29.6% of NPI in Q3 2021.

Meanwhile, FEHT entered into a put-and-call option agreement over the divestment of Central Square for $313.2m. In this agreement with City Developments, the consideration represents a 57.9% premium on the independent valuation of $198.3m as of 20 December, as well as a 70.8% premium on the original share price of $183.3m on 12 August. 

After receiving outline advice from the Urban Redevelopment Authority to redevelop both Central Square and Central Mall, owned by City Developments, a maximum permissible gros floor area of 78% was set. City Developments took the spot as the highest bidder. 

Also noted by UOBKayHian was FEHT’s position as a defensive hospitality REIT in Singapore. Nine hotels and three serviced residences, all owned by FEHT, are under master lease agreements with subsidiaries within their sponsor, Far East Organisation. Overall, the fixed rent component from its master lease totalled 72% of total gross revenue from its hotels and SRS in pre-COVID-19. These fixed rents also formed 81% of the first half of 2021’s gross revenue, with the 20-year master leases set to last until 2032.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

The growth was driven by the increase in services inflation.
A new range of collaborative social spaces will make up the structure. 
One measure is the removal of the clickable links in SMSes sent by the bank.
The increase represented increased considerations of 2.1% in cash and 5.8% in shares.
It achieved a 100% sellout in its apartment launches at Yanlord Arcadia.
The institutions will collaborate on payments innovation projects amongst others.
Keppel Corp had the most growth.
It got Asian Infrastructure Investment Bank as its investor.
This optimistic performance is expected to continue until March 2022.
The stock saw a contradicting rise of 51%, despite the STI observing a dip of 4.2% during the period. 
Along with this, the group recommends a green financing bank.
The SGX listed SPAC raised $23.4m from the offering.
They believe crypto's value will increase in the next five years.
ThaiBev had the most growth.