|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||7.85 - 8.07|
|52 Week Range||5.89 - 8.56|
|Beta (5Y Monthly)||1.29|
|PE Ratio (TTM)||16.55|
|Forward Dividend & Yield||0.09 (1.11%)|
|Ex-Dividend Date||Aug 21, 2019|
|1y Target Est||7.76|
(Bloomberg) -- Singapore’s decision to remove a restriction on home builders may be the the first step to unwinding cooling measures on the sector, according to analysts.Publicly listed housing developers with a “substantial connection to Singapore” will be exempt from the requirement to complete development within five years and sell all units in a project within an extra two years, the Ministry of Law and Singapore Land Authority said in a statement on Thursday.Singapore Frees Listed Local Developers From Home-Sale RuleStill, the government said it isn’t making changes to existing property market cooling measures and all developers will continue to be subject to the prevailing Additional Buyer’s Stamp Duty.“In light of the current subdued market sentiment and the challenging economic outlook, we hope that the Government will continue to review market conditions and make further policy tweaks,” a spokesperson for City Developments Ltd. said in a statement.Shares in City Developments fell 0.3% and UOL Group Ltd. dropped 0.2% as of 2:50 p.m. in Singapore, both erasing advances of more than 1%.Here is what the analysts are saying:Citigroup Inc. (Brandon Lee, Si Xian Goh)“We think the market may view the move as a sign that the government could ease more existing cooling measures.”Developers will prefer “the abolishment or reduction of Additional Buyer’s Stamp Duty, which is more punitive.”The government’s move might result in a knee-jerk positive impact on developers similar to what happened when seller’s stamp duty was removed in 2017.Developers with unsold inventory from en-bloc market will benefit.Jefferies Financial Group Inc. (Krishna Guha)Authorities are signaling “a willingness to address the concerns of local developers while keeping the overall residential market in line with economic fundamentals, especially in what could be an election year.”Selective easing helping local builders while maintaining price stability.Maintains buy on City Developments.Credit Suisse Group AG (Louis Chua)“We view the QC rule change as an indication the government is cognizant of maintaining a stable property market, both in terms of capping excessive euphoria and providing downside support.”Remains positive on UOL Group and City Developments.(Adds City Developments, UOL stock performance in fifth paragraph, Credit Suisse in final comment.)To contact the reporter on this story: Abhishek Vishnoi in Singapore at email@example.comTo contact the editors responsible for this story: Lianting Tu at firstname.lastname@example.org, Tim Smith, Naoto HosodaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
* Lack of detail about trade talk progress weighs on sentiment * Malaysian palm oil exports to meet EU standards by 2021 * Singapore falls to near 3-week low, Jardine Matheson down By Arundhati Dutta Nov 19 (Reuters) - Most Southeast Asian stock markets fell on Tuesday as lack of significant progress in U.S.-China trade talks kept investors on the edge, while Malaysia slipped after the government announced new food safety standards for its vital palm oil industry. "The trade-talks are starting to look more like an iceberg, and not a lighthouse," Jeffrey Halley, senior market analyst for Asia Pacific at OANDA said in a note. The closer markets were getting to the looming Dec. 15 deadline, when a new set of U.S. tariffs on Chinese imports will kick in if a deal is not met, the more lonely equity markets are starting to look, he added.
* Philippines closes at 4-week low, down 0.7% * Singapore exports shrink for eight straight month in October * Thailand expands at slowest quarterly pace in a year in Q3 By Arundhati Dutta Nov 18 (Reuters) - Singapore and Thailand markets rose on Monday on hopes of stimulus measures following weak data from both countries, while other regions were mixed amid lack of concrete evidence on the progress in Sino-U.S. trade talks. Data on Monday showed Singapore's exports shrank for the eighth straight month in October, with the country's important electronic shipments steeply falling amid the trade dispute. "Instead of a short-term stimulus package, the government will more likely roll out a robust fiscal budget early next year." The index advanced 0.5%, with shipbuilder Yangzijiang Shipbuilding (Holdings) rising 8% and real estate operator City Developments Ltd adding 2.5%.
* Investors watch for signs of thaw in the U.S.-China trade war * Indonesia set to snap eight sessions of gains * Singapore marks worst session in two weeks By Sameer Manekar Oct 23 (Reuters) - Southeast Asian stock markets dropped on Wednesday, with the Philippines leading declines, on prolonged U.S.-China trade spat and as investors locked in profits following a recent rally. Investors are also closely watching for signs of a thaw in the U.S.-China trade war, which has cast a shadow over financial markets and global economic growth. An exclusive Reuters report that one of the U.S. advisers to U.S. President Donald Trump on trade talks with China will leave government could introduce some uncertainty about future trade talks.
* Markets had hoped Beijing would provide further monetary support * Indonesia rises ahead of cenbank policy meet on Oct 24 * Malaysia set to decline for a third consecutive session By Sameer Manekar Oct 21 (Reuters) - Most Southeast Asian stock markets dipped on Monday as China, the region's biggest trading partner, unexpectedly kept its benchmark lending rate unchanged, trimming hopes of further stimulus measures from the world's second-largest economy. The decision to keep the benchmark lending rate steady came just days after China reported its third-quarter gross domestic product growth cooling to a nearly 30-year low. "Market is getting in the frame of mind here that the People's Bank of China is not going to come riding in to the rescue," said Stephen Innes, market strategist at AxiTrader.