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Great expectations for UOL Group with healthy residential take-up & visibility

Michelle Zhu
Michelle Zhu6/13/2018 11:27 AM GMT+08  • 2 min read
Great expectations for UOL Group with healthy residential take-up & visibility
SINGAPORE (June 13): CGS-CIMB Research is reiterating its “add” call on developer UOL Group with an unchanged target price of $9.65, which is based on a 20% discount to RNAV.
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SINGAPORE (June 13): CGS-CIMB Research is reiterating its “add” call on developer UOL Group with an unchanged target price of $9.65, which is based on a 20% discount to RNAV.

This comes after paying a visit to UOL’s Amber 45 show flat, where CGS-CIMB noted improvement in take-up rates for the project to about 65% presently from 55-60% during the initial May 2018 launch of 139 units.

In a Tuesday report, analyst Lock Mun Yee underscores the group’s declining share price over recent weeks, in tandem with its property peers yet trading slightly above its long-term average discount trend at its current 34% discount to RNAV.

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