Nouvel 18

SINGAPORE (Nov 11): Maybank Kim Eng continues to keep its “hold” recommendation on City Developments Limited (CDL) with an unchanged target price of $9.42, after its 3Q16 results came in line with the research house’s expectations.

SINGAPORE (Oct 28): Maybank Kim Eng is maintaining its “hold” rating on Wing Tai Holdings as it sees “limited upside” for the developer despite low valuations of 0.4 times book value. The research house is recommending investors look at Capitaland

SINGAPORE (Oct 25): The securitisation of Nouvel 18 is a “win-win outcome” for City Developments (CDL) and investors with UOB Kay Hian maintaining its “buy” call with a target price of $10.36.

SINGAPORE (Oct 24): City Developments on Friday launched its third profit participation securities (PPS) to unlock the value for Nouvel 18. This was met with the approval from market watchers.

SINGAPORE (Oct 21): Maybank Kim Eng is maintaining its “hold” call on City Developments Limited (CDL) with a target price of $9.42, citing the lifting of a key stock overhang in Nouvel 18.

SINGAPORE (July 12): City Developments Limited (CDL) has taken a beating since the Brexit vote. But a potential Profit Participation Securities (PPS) following its Nouvel 18 acquisition could give it a much-needed boost.

SINGAPORE (July 8): Daiwa has maintained its “buy” call for City Developments (CDL), with a target price of $11.21.

SINGAPORE (July 7): City Developments’ (CDL) $410.96 million acquisition on Tuesday of Wing Tai’s 50% shareholding interest in Summervale Properties is believed to be motivated by Qualifying Certificate (QC) charges on due end-November.