Business Services Industry
Keppel Land's profit expected to soar due to China property.
Australasian Business Intelligence, March, 2003
Mar 03, 2003 (The Asian Wall Street Journal - ABIX via COMTEX)
Keppel Land, recorded a net profit of $S26.4 million in 2002, compared with a loss of $S368.4 million in 2001. However, Winston Liew, of Daiwa Institute of Research, says he expects the Singapore property developer's 2003 result to be almost triple that of its 2002 result, mostly due to earnings from its residential projects in China. Liew has a 12-month share target of between $S1.80 and $S1.90 for Keppel Land, which closed at $S1.29 on 27 February 2003. Lock Mun Yee, of Kim Eng Securities, who has a "buy" recommendation for Keppel Land, says the forecast sale of its office assets in Singapore could also boost its 2003 results.
Publication Date: 28 February 2003
KEPPEL LAND...
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