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Stocks to watch: Singapore property developers, QT Vascular
REPORTS or announcements relating to the following Singapore companies were issued on Tuesday, which may affect their trading activity.
Property developers may rack up as much as S$90 million in extension charges for unsold units in their condo projects from April to December this year, and a further S$238 million in 2016 if the Singapore real estate market remains lacklustre.
This is according to calculations by property consultancy Cushman & Wakefield and is based on the premise that units remain unsold by then.
Among the developers who could incur considerable Qualifying Certificate charges these two years are CapitaLand, City Developments, Wheelock Properties, Wing Tai and Heeton Holdings.
Analysts have, however, said that the charges will weigh more heavily on the smaller developers - such as Heeton - than the bigger ones.
Catalist-listed healthcare company QT Vascular has enrolled the first 11 patients in its first-in-human study of its novel Chocolate Touch PTCA (Coronary Drug-Coated Chocolate) in the Dominican Republic for the treatment of de novo coronary lesions.
If successful, the study would provide initial evidence of a new and unique device that could be able to treat coronary disease in a less invasive way that minimises the placement of stents.
Stents, the most commonly used treatment, are a permanent implant that require expensive long-term therapy.