OCBC says Hotel Properties could possibly be the next general offer candidate

SINGAPORE (Oct 15): OCBC Investment Research says Hotel Properties (HPL) could be the next candidate of a general offer.

Following the general offer for Hotel Properties (HPL) led by Ong Beng Seng and Wheelock Properties (Singapore) (WPS) in 2014, OCBC noted the potential for HPL and WPS to redevelop their neglected assets along the so-called “western end” of Orchard Road which stretches from Far East Shopping Center to Tanglin Mall into a mega-development.

“The western end of the Orchard district is known to be a less active shopping area comprising generally dated assets, which attract less foot traffic versus the vibrant retail areas to the east of Orchard Ion,” says OCBC analyst Deborah Ong in a Monday report.

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