Broker: CGS International
Date of Report: May 22, 2026
Excerpt from CGS International report.
Report Summary
- Stock: Coliwoo Holdings Limited (COLIWOO SP)
- Action: Add (Buy)
- Target Price: S\$0.74
- Current Price: S\$0.495
- Upside: 49.5%
- Key Idea: Coliwoo is scaling up its portfolio, expecting core PATMI CAGR of ~25% for FY26-28F driven by new property ramp-ups and a committed pipeline. Core PATMI for 1HFY26 was S\$8.6m (+14% yoy), in line at 40% of FY26F. Second half and FY27F earnings to be materially stronger as new properties contribute. Portfolio occupancy remains high at 97%.
- Highlights:
- Operational keys rose to 2,547 (+9% qoq). Further 15% increase in 2HFY26F expected as Midtown and the Resort Chalet ramp…
