Game changer around the corner for China New Town Devt
Singapore
CHINA New Town Development (CNTD) listed in Singapore in 2007 and in Hong Kong three years later to warm investor reception, but two factors have since been keeping it from reaching its full potential.
One is its status as a non-state-owned enterprise, and the other, its limited financial chops.
A game changer is around the corner for CNTD, which clears and prepares land for urban development. The China Development Bank (CDB), a state-owned policy bank which supports state-backed projects, is to give it an endorsement by subscribing for new shares and plumping up its capital base.
Additionally, an upcoming r…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Meta releases early versions of its Llama 3 AI model
Seatrium unit ordered to pay US$108 million in arbitration over equipment supply contracts
TSMC estimates losses of US$92.4 million due to Taiwan earthquake
Marina Bay Sands Q1 profit surges 51.5% to US$597 million on tourism boom
US: Wall St opens higher as some chip stocks bounce back after selloff
Blackstone reports 1% rise in Q1 earnings