Wee Hur’s diversified fund management platform has also seen success with a proven track record of delivering returns.
DBS Group Holdings analysts Ng Jia Hui, Derek Tan and Geraldine Wong have initiated “buy” on Wee Hur Holdings as the Mainboard-listed construction company seeks to diversify its operations to include property development, workers’ accommodation and purpose-built student accommodation (PBSA).
Construction remains a “major revenue driver”, with the group being awarded “major contracts” by HDB in Singapore. Wee Hur also derives revenue from its 6,779 PBSA beds under the Y-Suites brand in Australia and over 25,000 beds in two workers’ dormitories in Singapore. The group’s property development arm focuses on residential, industrial and mixed-use projects in Singapore and Australia, while it also earns revenue from fund management services and PBSA such as sales, marketing and student dormitory management.
