Soon Hock Enterprise Set to Benefit From Property Launch — Market Talk

Soon Hock Enterprise is poised to benefit from the launch of its Skye@Tuas industrial property in Singapore, uSmart Group's Ng Xin Yang says in a research report. Located opposite Tuas Link MRT and launching into a 2026 window with limited competing multiuser industrial supply, the property's conditions at launch are structurally favorable, the analyst says. Also, its freehold assets at 20 Shaw Road and Senang Crescent, together with its recent acquisition of Kewalram House in March, extend the real estate developer's earnings visibility to FY 2029 and beyond. uSmart Group initiates coverage of the stock with a buy rating and a target price of S$0.72. Shares are unchanged at S$0.635. (ronnie.harui@wsj.com)