In a Wednesday report, analyst John Cheong projects the new SingPost Centre to bring the group an additional rental income of $22 million, which translates to about $13 million of earnings assuming a steady 90% occupancy rate.
SINGAPORE (Oct 11): Maybank Kim Eng is maintaining its “hold” call on Singapore Post (SingPost) with an unchanged price target of $1.22, pending clearer direction from the strategic review of the group’s business strategy.
This follows the launch of the new SingPost Centre mall, which doubles the group’s gross retail floor space to 269,000 sf and net lettable area (NLA) to 178,000 sf.
