Analyst Research Report Snapshot

Title:

Flash Note – Sunway Bhd (BUY, maintain) - Acquiring 6 acres of prime land in Mt Sophia, Singapore

Price:

$23.00

Provider:

Affin Investment Bank

Date:

17 Sep 2013

Pages:

3

Type:

AcrobatPDF

Companies referenced:

SWAY.KL

Available for Immediate Download
Summary:

Sunway- Hoi Hup- S C Wong wins Mount Sophia land tender for S$442m Sunway announced that the Urban Redevelopment Authority of Singapore had on 12 September 2013 awarded a land parcel at Mount Sophia to a consortium comprises of Hoi Hup Realty (51%), Sunway (30%) and S C Wong Holdings (19%). The 5.9-acre piece of prime leasehold land was sold for S$442.3m (approximately RM1.1bn). Based on a plot ratio of 1.5x, the purchase price is approximately S$1,157 psf (RM2,960 psf) of gross floor area.

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