SINGAPORE (July 10): Property stocks Bukit Sembawang, Oxley and GuocoLand have had their recommendations downgraded by Maybank Kim Eng in light of new measures to cool the property market and keep price increases in line with economic fundamentals.

Even though Bukit Sembawang continues to trade at a steep discount of about 50% to its RNAV, Maybank expects the policy tightening to weigh on the share price performance.

“We downgrade the stock to ‘hold’ from ‘buy’ with a lower target price of S$5.10, based on a 50% discount to its revised RNAV of S$10.20,” says Maybank... (Click here to read the full story)