06/06/08
DJ MARKET TALK: Singapore Construction Faces Rising Risks -CIMB
0110 GMT [Dow Jones] The Singapore construction sector is facing leaner trading conditions and investors should tread carefully, says CIMB. Broker notes private residential development subdued due to weak buyer demand, with rapid rise in construction costs putting developers' margins under pressure. Broker remains Overweight on Singapore construction sector as a whole, but turns more selective; "we recommend reduced exposure to integrated construction stocks and a switch to specialist construction companies." Adds best placed construction firms are those that have low exposure to higher construction material costs or who can manage their exposure well thanks to short project turnarounds. Says Tat Hong (T03.SG), Tiong Woon (T06.SG), CSC Holdings (C06.SG) are top picks. Latest prices: Tat Hong +0.5% at S$2.19, Tiong Woon +0.9% at S$0.58, CSC +1.7% at S$0.295. (KIG)
Subscribe to:
Post Comments (Atom)
1 comment:
Thank you for sharing such great information.
It has help me in finding out more detail about critical illness cover
Post a Comment