Daiwa says NPI was 5% higher than forecast, while DPU was 3% higher. “The stronger-than-expected NPI came almost solely from the Renhe Spring Zongbei Property in Chengdu, China, which reported NPI of S$3.38 million (+72% on quarter).”
Weeks after China conducted a flight test of its new J-20 stealth fighter, a US court has sentenced a former Indian American B-2 stealth bomber engineer to 32 years for selling military secrets to China. Mumbai-born Noshir Gowadia, 66, who has been in custody without bail since his 2005 arrest, showed no emotion as Chief [...]
JPMorgan, which has an Overweight rating and $2.00 target price says the addition of 800 taxis “implies an 8% increase in its China taxi fleet and is positive.”
Singapore shares may climb higher on Tuesday after Wall Street indices closed up overnight as confidence returned in the global economy’s growth prospects.
Singapore’s benchmark Straits Times Index <.FTSTI> closed up 0.04% at 3,185.76 on Monday.
Here are some stocks and factors to watch:
Keppel Land (KLAN.SI), Singapore’s third-largest property developer, may be in focus after it posted an eight-fold rise in fourth quarter net profit, helped by a $363.8 million one-time gain from the sale of its one-third interest in a large office project.
Singapore’s ComfortDelGro (CMDG.SI) said its subsidiary in China has been awarded 800 new taxi licences by the Chengdu Municipal government, making it the second largest taxi operator in the city with 1,050 taxis.
Electronics contract manufacturer Valuetronics (VLUE.SI) said on Tuesday its net profit for the three months ended December more than doubled to HK$31.6 million ($674,000) from HK$13.5 million a year earlier, due to stronger orders from its customers.
Boustead Singapore (BTSS.SI) said its wholly-owned subsidiary won a $25 million contract to design, engineeer and construct a demineralisation plant in Singapore.
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Temasek Holdings Pte will lead a number of Singaporean companies in investing in an industrial park in China’s Sichuan province with a Chengdu high-tech investment group, the 21st Century Business Herald reported today, citing Tang Hua, a local official.
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Singapore-Sichuan Investment Holdings, a Singapore consortium initiated by Temasek Holdings, has signed an MOU with Chengdu Hi-Tech Zone to conduct a feasibility study of the joint development of a Singapore-Sichuan Hi-Tech Innovation Park (HTIP).
The Singapore-Sichuan HTIP project will be situated in the Chengdu Hi-Tech Zone, which is currently ranked fourth out of the 54 national Hi-Tech Zones gazetted in China in terms of competitiveness.
The 35 sqkm development will first begin with an initial start-up area of 10 sqkm. It will focus on integrating modern manufacturing, modern services and modern living into one.
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Yanlord Land (Z25.SG) +1.3% at $1.61 on news developer will team up with affiliate of Government of Singapore Investment Corp. to build high-end residential development in Chengdu, says Dow Jones.
Yanlord Land Group says Yanlord Land Pte Ltd (YLPL) has entered into a joint venture with an affiliate of GIC Real Estate (GICRE) to set up a new subsidiary for the development of a prime residential development site in Panchenggang, Jinjiang district in Chengdu.
GICRE’s affiliate, Reco Yizhong Private Limited, will own 75% of Yanlord Property Investments Pte Ltd, while YLPL will own the remaining 25% interest.
The project has a total planned gross floor area of about 390,658 square metres.
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Yanlord Land Group (Z25.SG) +1.3% at $1.60 in thin trade, continues to consolidate after sharp pullback in mid-April as investors generally not inclined to bet big due to concerns of slower home sales following China’s property-market tightening measures in past months, according to Dow Jones.
Yanlord Land Group (Z25.SG) +1.3% at $1.60 in thin trade, continues to consolidate after sharp pullback in mid-April as investors generally not inclined to bet big due to concerns of slower home sales following China’s property-market tightening measures in past months, according to Dow Jones.
CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has expanded into Chengdu, China, with its latest property in the country — Somerset Riverview, Chengdu.
CapitaMalls Asia (JS8.SG) may get boost from latest acquisition, which helps further company’s strategy of expanding its China footprint; shopping mall owner announces it will buy integrated development in Chengdu comprising retail, residential, office for about $114 million.
More Chinese clubs are being investigated for match-fixing and will be harshly punished if found guilty, according to the new head of the Chinese Football Association. “Guangzhou, Chengdu and Qingdao are not the only clubs under investigation,” said Wei Di, whose predecessor Nan Yong was one of
CapitaMalls Asia says it has entered into an agreement with Chengdu Vanke Property Co. to acquire Meili Mall in Chengdu, China, for RMB459.85 million ($94.6 million). Including fitting out works, CapitaMalls Asia’s estimated total expenditure on the mall is RMB520 million.
The mall is part of a mixed-use development, comprising retail and residential components. It is currently being developed by Chengdu Vanke Property and expected to be completed by 2012. The target opening date is mid-2013.
Singapore’s Straits Times Index climbed 0.5% to 2,836.35 as of 9:23 a.m. in Singapore, poised for its first back-to-back gains in two weeks. Seven stocks climbed for each that fell among the 30 that make up the measure.
CapitaLand (CAPL SP), Southeast Asia’s biggest developer by sales, climbed 0.7% to $4.18, set for its first back-to-back gains in two weeks. CapitaLand said it agreed to sell its entire 50% stake in Chengdu CapitaLand Zhixin Wenjiang Co. for 172.3 million yuan ($35.5 million).
Yanlord Land Group (Z25.SI), the real-estate developer of luxury residential property mixed commercial developments in high-growth China cities, announced today that its subsidiaries, Yanlord Property Investments and Yanlord Land (Chengdu), have jointly acquired a prime residential development site with a total planned gross floor area (GFA) of about 4.2 million sqft in Panchenggang, Jinjiang District in Chengdu for RMB 1.96 billion ($402 million) or RMB 467 psf in a public land auction.
