Ascott Residence Trust (Ascott) owns 88 hospitality properties across 15 countries globally with a range of offerings like serviced residences, hotels and rental housing. Post-merger with Ascendas Hospitality Trust in 2019, it is currently the largest hospitality trust in Asia Pacific and has a market capitalization of S$3bn and S$7.4bn of assets under management. We think that its share price has been beaten...
Earlier today Sembcorp Marine (SCM) announced a recapitalization of S$2.1bn via a rights issue of 5 SCM rights shares for every SCM share currently outstanding at an issue price of S$0.20 per rights share. The amount raised will be supported by an undertaking by Sembcorp Industries (SCI) and Temasek to subscribe for up to S$1.5bn and S$0.6bn respectively.What is Temasek's endgameIt would be...
