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Guocoland looks beyond Singapore for growth

PC Lee
PC Lee9/2/2016 11:52 AM GMT+08  • 2 min read
Guocoland looks beyond Singapore for growth
SINGAPORE (Sept 2): CIMB Research is maintaining its “add” call on Guocoland on expectations that overseas income could grow in 2Q16 with residential sales from its projects in China and Malaysia.
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SINGAPORE (Sept 2): CIMB Research is maintaining its “add” call on Guocoland on expectations that overseas income could grow in 2Q16 with residential sales from its projects in China and Malaysia.

In a Friday report, analyst Lock Mun Yee says she sees maiden contributions from 50%-owned Changfeng Residences in Shanghai to materialise from end-CY16.

Lock also expects further sales from its Damansara City project to filter down immediately to the bottomline given that the residential component of the project is completed.

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