UOL's recurrent income to balloon to 70% of overall earnings

That's over the next 2-3 years.

According to DBS, recurrent earnings, including hospitality and dividend income, which makes up 50-60% of current contributions, could expand to c70% of income over the next 2-3 years with the completion of the One KM mall (50% pre-committed) and 1 Upper Pickering office as well as its new hospitality assets. 

The group had committed cS$1bn of investments into these developments and will continue to focus on expanding the PARKROYAL and Pan Pacific brands across cities in Asia like Shanghai, and Bogor in Indonesia.

"On the residential side, plans to launch 631 units from the Bright Hill Drive site in June and St Patrick’s Garden plot in July are on track. Additionally, it will also continue to market The Esplanade in Tianjin and Panorama in KL this year," DBS said.