0543 GMT - Suntec REIT's plans to launch formal sales of its Australian properties could help reduce the earnings drag from higher-cost borrowings in Australia, but the strategic review needs more clarity, Jefferies analysts Wilson Ng and Geraldine Wong say in a note. The REIT's pivot toward Singapore and commitment to enhancing unitholder returns through capital-recycling opportunities, particularly involving 9 Penang Road and One Raffles Quay, are welcome moves, the analysts say. Jefferies maintains its hold rating on the REIT with a target price of 1.60 Singapore dollars. Units are down 0.7% at S$1.37.
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