Stock Name: UOL
Company Name: UOL GROUP LIMITED
UOL also has a stake in over 5,000 hotel rooms across China, Malaysia, Australia, Vietnam and Myanmar, IIFL said in a report, adding that the firm’s hositality business is benefiting from high occupancy rates and rising average room rates.
Company Name: UOL GROUP LIMITED
| Research House: IIFL | Price Call: BUY | Target Price: 5.78 |
IIFL has initiated coverage of Singapore property firm UOL Group (UTOS.SI) with an add rating and a target price of $5.78.
IIFL said UOL is one of the largest hotel room owners and residential developers in Singapore, with a stake in more than 3,200 hotel rooms as well as 4.1 million square feet of residential projects under development in the city-state.
IIFL said UOL is one of the largest hotel room owners and residential developers in Singapore, with a stake in more than 3,200 hotel rooms as well as 4.1 million square feet of residential projects under development in the city-state.
UOL also has a stake in over 5,000 hotel rooms across China, Malaysia, Australia, Vietnam and Myanmar, IIFL said in a report, adding that the firm’s hositality business is benefiting from high occupancy rates and rising average room rates.
IIFL said UOL can make acquisitions worth around $1 billionin 2011 if the group’s gearing increases to 45% from 37% as of its first quarter.
“The group remains largely shielded from any slowdown in the Singapore property market as its profits from earlier projects are locked in,” IIFL said.
“Also, its commercial assets are well-established and are likely to continue delivering steady performance.”
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