Broker Name: CGS International Securities
Date of Report: May 22, 2026
Excerpt from CGS International Securities report.
Report Summary
- Stock: Coliwoo Holdings Limited (COLIWOO SP)
- Action: Add (Buy)
- Target Price: S\$0.74 (current price: S\$0.495)
- Key Highlights:
- Core net profit for 1HFY26 grew 14% year-on-year, in line with expectations, supported by a 9% quarter-on-quarter increase in operational keys and strong property ramp-up.
- Portfolio occupancy remained strong at 97% despite a 15% increase in operational keys, underpinned by new launches like Coliwoo Hotel Kampong Glam and Coliwoo Bukit Timah Fire Station.
- 2HFY26 and FY27 earnings expected to be stronger, driven by new openings (Midtown, Resort Chalet, and Changi Business Park) and high pre-leasing activity.
- Reiterated Add call with a 49.5% potential upside to target price; expects FY26-28F core PATMI CAGR of ~25% supported by a committed development pipeline.
- Key risks: softer occupancy and rental rates.
- Actionable Insight: Investors may consider adding Coliwoo Holdings Limited, given strong growth prospects, pipeline visibility, and attractive upside to target price.
- Ticker: COLIWOO SP
above is an excerpt from a report by CGS International Securities. Clients of CGS International Securities can be the first to access the full report from the CGS International Securities website : https://www.cgs-cimb.com/en/
