Singapore Stock Market News

Singapore Property - Ray of light

StockFanatic
Publish date: Thu, 31 Jul 2014, 05:35 PM
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Pockets of mortgage easing and HPR relaxation rules in some China cities will benefit CAPL and KPLD the most among SG developers. With 53% China exposure of which 20% comes from tier 1 residential segment, we upgrade CAPL from UPF to OPF, narrowing RNAV discount.

However, we remain doubtful on CAPL's asset recycling strategy in the near term given its track record. KPLD and FCL remains as top picks given good China exposure, clear asset recycling strategy and M&A potential for the latter.
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