Home THE DAILY EDGE Business Jan 14: Singapore property stocks in focus on new cooling measures
Jan 14: Singapore property stocks in focus on new cooling measures

Tags: Capitaland | China Gaoxian | China Gaoxian Fibre | China Gaoxian Fibre Fabric | City Developments | Oxley Holdings | Renewable Energy Asia Group | Sm Summit Holdings

Written by Reuters   
Friday, 14 January 2011 08:23
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Singapore property developers such as CapitaLand (CATL.SI) and City Developments (CTDM.SI) are likely to be in focus on Friday, after the government introduced new measures to cool home prices that have continued to rise. Singapore’s benchmark Straits Times Index <.FTSTI> was up 0.34% on Thursday to 3,255.87 points. Here are some other stocks and factors to watch:

China Gaoxian (CGXF.SI), a Singapore-listed Chinese yarn and fabric supplier, said it expects to raise net proceeds of around $223.8 million from issuing Korean Depository Receipts. The firm will be dual-listed on the KRX Kospi Market on Jan 25.

Property developer Oxley Holdings (OXHL.SI) said on Thursday its residential project Loft@Holland, located at Singapore’s Holland Road, was fully sold within two hours of its launch. The firm said all 41 apartment units were taken up.

Renewable Energy Asia Group (REAG.SI) said on Thursday it had secured a concession to jointly develop a wind farm in China’s Haimen City with China Datang for 500 million yuan ($97.3 million).

SM Summit (SUMM.SI), which manufactures compact discs and digital versatile discs, said on Thursday it plans to acquire the entire shares of Centurion Dormitory (Westlite), a 45% interest in Lian Beng-Centurion (Mandai) and 75% of JYC-NCL.

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Last Updated on Friday, 14 January 2011 08:24