UOL Group

Property stocks have strengthened, led by UIC initially, then UOL and now Ho Bee Land. Small cap developers could follow.

Developers trade at large discounts to book, and a few maybe ready to restructure to narrow the gap

UOL has yet to break out of a multi month base. UIC has already broken above a base $2.45, indicating a target of $2.90.

Land prices may rise as developers restock their landbank resulting in the best property proxies to narrow their discounts to NAV

UOL plans to launch another project, Clavon by end of the year.

According to the Urban Redevelopment Authority (URA), primary home sales grew 4.6% y-o-y and 5.6% m-o-m to 1,329 units in Sept.

The worst may be over for UOL as it heads towards a recovery

UOL's high quality projects and prudent land acquisition costs will allow it to weather the uncertainties, says OCBC Investment Research.

Looking ahead, UOL expects the global economic outlook to remain uncertain as trade and geopolitical tensions as well as the outcome of a Brexit deal remains sources of risk, alongside the risk posed by the Covid-19 situation.

The markets are likely to be spooked at the opening bell after Singapore on Thursday evening announced its first confirmed case of the deadly Wuhan virus. Here's what you need to watch out for.