Thursday 28 Mar 2024
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SINGAPORE (July 19): Lim & Tan Securities says minority shareholders of Wheelock Properties should deserve a higher offer somewhere closer to its last reported NAV of S$2.68/share.

While Lim & Tan does not dispute Wheelock parent’s S$2.10 offer price is attractive compared to its historical trading prices, the property group has a large cash holdings and large base of recurring income streams as well as its long track record of attractive dividend payments.

“We thus recommend to “hold” tight to your Wheelock shares,” says Lim & Tan in a report after the offer was announced... (Click here to read the full story)

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