CIMB's scenario study shows that increasing floor area utilisation of the former by 5-15% would add between 4 cents and 13 cents to UE's RNAV. This does not include organic improvement in rents due to the ability to command higher rates from the upgraded property.
SINGAPORE (Apr 2): United Engineers can now focus on operational growth, says CIMB, following the completion of the recent takeover exercise.
In a Mar 30 report, analyst Lock Mun Yee says UE should start with low-hanging opportunities to unlock value from its properties such as UE Bizhub City, through increasing property utilisation or optimising the size and use of its hospitality assets.
