UOL Group could benefit from a couple of recent developments. First off, if CapitaLand’s shareholders vote for privatising its development business, and to list CapitaLand Investment Managers (CLIM), it might be booted off the FTSE EPRA NAREIT Developed Index, which has only three developers. Analysts have already viewed City Developments (CDL) as a beneficiary although it has a host of problems. UOL Group, if deftly managed, could reap even more rewards.

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