China bonanza for four property companies

FOUR Singapore property stocks recently ran up year highs. A coincidence? Hardly. They have one thing in common: they are all members of a consortium involved in the development of a mega integrated property project in Gaobeidian in China, near the newly announced special economic zone (SEZ) called Xiongan New Area in Hebei province.

KSH Holdings, in particular, rose 7 per cent to S$0.835 on April 12 and, after a light pullback, jumped 7 per cent again on April 18 to a record high of S$0.87.

Lian Beng and Heeton hit a two-year and one-year high of S$0.645 and S$0.545 on April 12 respectively, while Oxley Holdings closed at S$0.60, just half a cent shy of its one-year high, that same day.