First Reit, FY07 gearing at 16% is currently one of the lowest levels across the S-Reits sector. Been the only Singapore listed Healthcare REIT, First Reit has access to a wide range of Healthcare related assets both in Singapore and around the region. By utilizing their debt capacity, First Reit aims to grow its portfolio over the next 12 months. First Reit intends to grow its portfolio in Indonesia, Singapore, Malaysia, Thailand, Hong Kong and notably China. The sponsor of First Reit is Lippo Karawaci, the largest listed broadbased property company in Indonesia. With the rapid aging population in Asia, First Reit has the first mover advantage.
Source: Merrill Lynch
ML has a Buy rating price objective of S$0.90/share based on an analyst report dated 4th of July 2007
Last done price: $0.81 SGD +$0.01
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