Towards Financial Freedom

Singapore Property - It Is High Time

kiasutrader
Publish date: Tue, 11 Sep 2012, 09:46 AM
Take a high position. We believe 2013 will turn out to be a better year for high-end developers. The ability to move completed inventory will be good news to them, as the profits can be recognized immediately. We raise our target prices for Wing Tai (maintain BUY; TP: SGD2.10) and Ho Bee (upgrade from HOLD to BUY; TP: SGD1.79) as we ascribe a narrower 40% RNAV discount to account for their potential re-rating.

Source: Maybank Kim Eng 
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