Broker: DBS Group Research
Date of Report: 10 June 2026
Excerpt from DBS Group Research report.
Report Summary
- Stock: Wee Hur Holdings Ltd (WHUR SP)
- Action: BUY (Reiterate)
- Target Price: SGD 0.90
- Current Price (as of 09/06/2026): SGD 0.64
- Key Idea: Wee Hur has entered Hong Kong’s purpose-built student accommodation (PBSA) market via two investments, adding approximately 750 beds. One Bedford Place was acquired at a 62% discount to its previous valuation, offering a strong margin of safety.
- Highlights:
- Hong Kong’s PBSA market is structurally undersupplied with an estimated bed shortage expected to widen to ~120,000 by 2028.
- The assets are well-located near major universities and public transport, supporting strong rental and occupancy prospects.
- These investments are expected to strengthen Wee Hur’s earnings profile as they come onstream from 2H2026 onwards.
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