To recap, Perennial Real Estate posted strong 9M17 results with a net profit of $73 million vs $9 million in 9M16, boosted by gains from bargain purchase of UE and gains recognised in 1H17.
SINGAPORE (Nov 9): DBS is maintaining its “buy” rating on Perennial Real Estate Holdings with $1.05 target price given the stock currently trades at 0.5x P/BV, offering upside as it gradually realises its RNAV potential.
Apart from property, Perennial Real Estate has also built a portfolio of medical and healthcare services to leverage on rising healthcare demand in China and Singapore.
