Purpose-Built Student Accommodation (PBSA)

Although the group is expecting its FY2020 results to be “severely impacted” as the pandemic rages on, the board will be tabling its previously announced FY2019 dividend of 6 cents per share at the upcoming AGM.

Collectively, the hit from the pandemic on the group’s PBSA and PBWA properties has made Lee and Cai shaving their FY20F-22F earnings by 25% (FY20), 15% (FY21), and 4% (FY22) respectively.

Looking ahead, Ling believes the operator has sufficient liquidity to tide the short-term challenges of the crisis.

“While asset quality looks relatively assured, the decline in its media business does not appear to be abating,” UOB lead analyst Lucas Teng says in a Jan 6 report.

SINGAPORE (June 6): UK universities could benefit from the US-China trade war that has prompted China to issue an official warning to students hoping to study in US universities, says UOB KayHian.

SINGAPORE (Apr 23): Despite continued weakness in its core media business, UOB Kay Hian is staying positive on Singapore Press Holdings (SPH) on the back of its foray into the student accommodation segment.

SINGAPORE (Apr 16): Singapore Press Holdings (SPH) announced that its wholly-owned subsidiaries, Straits Five, Straits Six and Straits Eight, have acquired a portfolio of Purpose-Built Student Accommodation (PBSA) assets in the UK for £133.7 million ($23

SINGAPORE (Sept 10): Singapore Press Holdings (SPH) has acquired a student accommodation portfolio in the UK for $321 million.

SINGAPORE (June 4): Wee Hur Holdings announced that its 68.97%-owned Wee Hur PBSA Master Trust, through its wholly owned sub-trust, WH Gibbons Trust, is acquiring a freehold residential block at 13-23 Gibbons Street, Redfern, Sydney, Australia for A$52 mi