>

>

How joint acquisitions and projects are proving advantageous for KSH Holdings

By EdgeProp Singapore

/ The Edge Singapore |

November 16, 2017 4:49 PM SGT

Join our Telegram channel and follow our Facebook for the latest update.

OCBC Investment Research is maintaining its “hold” call on KSH Holdings with a higher fair value estimate of 79 cents after updating its valuation model for the latest results and assumptions.

This comes after the construction and property group last week reported a set of 1H18 earnings which came in broadly in line with its estimates.

In a Wednesday report, lead analyst Eli Lee notes stronger performance from the group’s Tianjin Tianxing Riverfront Square commercial property investment in China, as well as improving construction margins reflected over the half-year in review.

In particular, Lee highlights the management’s belief that KSH is poised to take advantage of the turnaround in the Singapore real estate sector – especially after recently replenishing its land bank with the joint acquisition of Serangoon Ville in the Bidadari Estate as well as Rio Casa in Hougang.

“In Australia, the group has, together with its partners, sold its St Kilda Road property in Melbourne for A$34.0 million and will recognise its share of profits before the end of this financial year, subject to legal completion of the transaction,” says Lee.

“In the UK, KSH has begun the first phase of its township development in Leeds and also acquired an four-storey Dry Bar terraced building in Manchester for conversion into a new boutique hotel,” he adds.

As at 10.14am, shares in KSH are trading 1 cent higher at 84 cents, or 12.3 times FY18 earnings.

Tags:

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Kingsford sells 30% of units at The Hill @ One-North, with average price of $2,595 psf

2

Residential transactions with contracts dated April 2 to 9 [DONE DEALS]

3

The Hillshore sells three units by placement at an average price of $2,626 psf

4

Zion Road residential site triggered for sale at a minimum bid price of $604.57 mil

5

Resale condo prices in the CCR climb 3.7% q-o-q in 1Q2024: OrangeTee & Tie

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00