SINGAPORE (March 6): Deutsche Bank likes OUE for having the most opportunities for RNAV crystallisation among the developers under its coverage. Given the likelihood of the US Bank Tower divestment and thus a special dividend, Deutsche ranks OUE our top Singapore mid-cap pick. In a Friday report, Deutsche also reiterates its strategy to “hold the developers and trade the REITs” through this RNAV upgrading cycle. “We believe that the key catalyst for OUE will be the crystallisation of RNAV. Currently, US Bank Tower is 69% occupied, while OUE Downtown is 87% occupied for the office space and 70% pre-committed for the retail space.

Source: The Edge Markets March 06, 2017 05:26 UTC