First REIT kept at ‘hold’ as sponsor seeks Siloam expansion

SINGAPORE (Aug 25): OCBC is maintaining its “hold” rating on First REIT (FREIT) with a fair value estimate of $1.38 as sponsor seeks to be expand network of Siloam Hospitals Group further.

PT Siloam International Hospitals TBK, operated by PT Lippo Karawaci Tbk, FREIT’s sponsor, aims to grow from its current 31 hospitals to 50 hospitals in 25 cities by 2019.