RHB Bank has advised unitholders of Suntec Real Estate Investment Trust (SGX:T82U) to reject the mandatory conditional cash offer made by Gordon Tang and Celine Tang, the Singapore Business Times reported Friday.
The offer of SG$1.16 per unit in cash is a 44% discount on the company's net asset value per unit of SG$2.07, according to the report.
RHB expects further rate cuts in 2025 to benefit the company, the report said.
The research firm has maintained its 'buy' call on the company's shares, the report added.
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