Bukit Sembawang ticks all the right boxes, so why aren’t investors biting?

LIKE many property developers on the Singapore Exchange (SGX), mainboard-listed Bukit Sembawang Estates trades at discounted valuations. It is also thinly traded.

But the company – which recently reported changes to key management – has a relatively healthy balance sheet. Bukit Sembawang’s specialisation in developing landed properties and luxury condominiums may also make it worthy of investor attention amid the current property boom.

The counter has fallen 7.5 per cent over the past year to close at S$4.58 on Wednesday (Feb 8). That is worse than the 0.4 per cent decline in Singapore’s benchmark Straits Times Index, but is comparable to the average among real estate developers on SGX.