Brokers' take

First Sponsor Group | Buy

Dec 16 close: S$1.20

DBS Group Research, Dec 16

WE initiate coverage on First Sponsor Group with a buy call and target price of S$1.43. With growing property development business in Chengdu and Dongguan to serve mass market residential property demand, First Sponsor Group is currently developing and selling its second mixed-use project in Chengdu - the Millennium Waterfront in Wenjiang District.

We expect a stable contracted sales in 2014 and double digit growth in contracted...

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