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Wheelock Properties (Singapore) | Buy

Oct 13 close: S$1.79

Target price: S$2.38

OCBC Investment Research, Oct 13

Recent flash estimates of the URA private residential property price index showed a 0.6 per cent decline in Q3 2014 - a fourth consecutive quarter of price decrease cumulating in a 3.8 per cent dip since its peak in Q2 2013. We expect unabated headwinds in the weak domestic residential market going ahead, and prefer developers with sizeable diversified income from investment assets, a strong...

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