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China New Town upbeat on turnaround

Subsidiary of CDB Capital says it has strong pipeline of projects and believes recovery is "just round the corner"

Published Wed, Jul 15, 2015 · 09:50 PM

Singapore

SINGAPORE-listed China New Town Development (CNTD), backed by China's largest policy bank, has lined up a strong pipeline of projects and believes a turnaround is "just around the corner" after two years of losses.

It plans to launch up to four - or even five - new town development projects in China over the next 12 months. This will provide strong earnings visibility, fuelled by a new business model that grants a steady income stream.

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