LHN makes a strong defensive play in a soft industrial market

SINGAPORE (Dec 1): UOB Kay Hian is maintaining its “buy” recommendation on property management services company LHN Limited with a lower target price of 28 cents from 32 cents previously.

The research house expects LHN to see “strong contributions streaming in” from its recent acquisitions in the coming year, including from 38 Ang Mo Kio Industrial Park 2.

The $30 million acquisition was completed in May this year, with 30% already sub-let and the remaining 70% leased to the company’s “Work+Store” subsidiary, which provides space optimisation solutions to e-commerce businesses.

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