OUE HT hit by hospitality woes

SINGAPORE (Aug 3): OCBC Investment Research is maintaining its “hold’ recommendation on OUE Hospitality Trust (OUE HT) with a higher fair value of 73 cents after the trust posted a 39.5% decrease in distribution per unit to 0.92 cents for 2QFY2016.

To recap, OUE HT’s revenue for the quarter fell 6.6% as it recognised a 7.1% decline in revenue contribution from Mandarin Orchard Singapore and a 2.7% decline in contribution from CPCA.

See OUE H-Trust posts 39.5% lower 2Q DPU of 0.92 cent on lower revenue

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