Latest property cooling rules will barely hurt these 4 developers

Singapore is just ~9% of their market.

According to CIMB, they expect this new policy event to lead to a sector wide sell-down in the near-term. In this scenario, the firm advocates accumulating the following names that are expected to be less affected by policy changes in the Singapore residential sector.

CapLand: Singapore residential segment accounts for only 9% of its GAV. The share price catalysts for CapLand in 1) recovering China volumes, 2) potential asset recycling moves, and 3) a potential restructuring of its business units, remain unchanged. CapLand remains our top big cap pick in the sector.

UOL: Singapore residential accounts for 8% of its GAV, 70% of which have been sold. Commercial, hospitality and retail assets/developments form 82% of its value. Its share price heavily discounts its commercial and hotel assets under the cumbersome UOL/UIC/SL shareholding structure.

With a more active management and a consistent build up of investment properties in the last 5-7 years, we believe valuation discounts should narrow. UOL remains our top mid cap pick.

GLP: The group has no assets in Singapore and should not be affected in the expected sell-down. But if it does, we believe its asset recycling and China recovery themes remain intact and would advocate investors accumulate the stock.

UE: Residential developments make up 29% of UE’s gross value, though more than 50% has been sold. The group is an investment property play (>60% of GAV), with more asset completions coming in 2014. We see potential for accretive asset divestments and redevelopment of old assets.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia