China’s pledge for greater yuan flexibility positive for high-end developers in Singapore like SC Global (D2S.SG), Wing Tai (W05.SG), as well as for Noble Group (N21.SG), marginally beneficial for ComfortDelgro (C52.SG), says DMG, according to Dow Jones.

DMG says stronger yuan will increase appetite of Chinese to buy high-end homes outside of China, including Singapore, where they currently account for about 3% of total home sales.

The research house notes with China accounting for about 44% of Noble’s tonnage volume in FY09, stronger yuan could boost demand for supply chain manager’s key iron ore, soybean products.

Expects every 1% rise in RMB vs SGD to raise ComfortDelgro’s EBIT by 0.1% (EBIT from China accounts for 12% of public transport operator’s group EBIT).