Under FEOR30, Far East Orchard aims to scale an integrated lodging platform built around its hospitality and student accommodation assets, as well as its fund management platform. The group’s hospitality assets comprise Far East Hospitality (FEH) and Toga Far East (TFE) Hotels, while student accommodation assets include the beds from Homes for Students (HFS), which the group now holds an 84% stake in.
Shares in Far East Orchard, typically thinly-traded, barely moved after the group announced its FEOR30 strategy — the firm’s five-year roadmap — on Nov 24. On Nov 25, the counter closed flat at $1.22, up 17.31% year to date, but still a 56.9% discount to its net asset value (NAV) per share of $2.83 as at June 30.
The muted reaction could suggest that the market may be waiting for clearer information on how the plan will translate into shareholder gains.
