Wing Tai
Buy
OCBC Investment Research, Aug 21
Aug 21 close: S$1.71
Target price: S$2.58
We see sales slowing in the months ahead due to the lunar seventh month and the elections, and the outlook for the domestic residential space remains fairly muted. This is particularly so for the high-end segment, and sales at Wing Tai's luxury projects will likely experience continued headwinds going into 2H15, barring a reversal of the additional buyer's stamp duty on foreigners. In order to conserve cash and further...
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