Home Capital Broker's Calls

Bukit Sembawang, Oxley and GuocoLand downgraded by Maybank on property curbs

PC Lee
PC Lee7/10/2018 11:30 AM GMT+08  • 3 min read
Bukit Sembawang, Oxley and GuocoLand downgraded by Maybank on property curbs
SINGAPORE (July 10): Property stocks Bukit Sembawang, Oxley and GuocoLand have had their recommendations downgraded by Maybank Kim Eng in light of new measures to cool the property market and keep price increases in line with economic fundamentals.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (July 10): Property stocks Bukit Sembawang, Oxley and GuocoLand have had their recommendations downgraded by Maybank Kim Eng in light of new measures to cool the property market and keep price increases in line with economic fundamentals.

Even though Bukit Sembawang continues to trade at a steep discount of about 50% to its RNAV, Maybank expects the policy tightening to weigh on the share price performance.

“We downgrade the stock to ‘hold’ from ‘buy’ with a lower target price of $5.10, based on a 50% discount to its revised RNAV of $10.20,” says Maybank.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.