Company Update: Transformation to bear fruit
- Target 25k annual capacity expansion for FY22 and FY23
- Partnership with sovereign funds to build built-to-suit hyperscale data centres
- Revised down adjusted EBITDA by 14% and 17% for FY22 and FY23 respectively due to slower customer move-in
- Maintain BUY with a lower TP of US$15.3, due to adjusted EBITDA revision and a lower multiple for weak market sentiment
