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STI OUTLOOK: DBS VICKERS
STI ? 3150 support despite last week?s decline, 3290 view intact but delayed beyond this year-end
The current relative underperformance in the STI could be due to South-East Asian equities falling out of favour among investors as this region is seen as having a higher risk when the FED starts to taper QE. The penny stocks rout over the past 2 months and the year end lull period provides a further drag....
But we continue to see the prospect of the index higher towards 3290 despite STI?s 29pt decline last week. The likelihood of this happening though looks to be delayed beyond the year-end lull period.
The short-term support levels for the index are 3150 and 3100. With the STI currently trading closer to 13.12x (-0.5SD) FY14F PE at c.3100, GDP forecasted to improve next, there is not much more that the STI can dip if the rest of the world continues to stay firm. Unless global equities slip into a correction, we expect the first support level at 3150 to hold.
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GONG GONG jia ti kong....... Lol
hosayleow ( Date: 24-Nov-2013 18:08) Posted:
Bro IgIg666,
In the market, to make big money, you need to catch the big moves. These big moves dont come by all the time. But they do come. You just have to be patient to wait for them to show up. And when they do, to Ka Ka put your chips on the table.
To make money, you need money.
The working class ..... work for their money.
The rich....make their money work for them.
Which is why good companies with a prudent management team will keep cash....lots of it in their bank account even though interest rate is paltry. Why? Becoz if and when a window of opportunity opens up suddenly, the one who can seize that opportunity is the one who the money.
For that reason, I am keeping the bulk of my bullets on standby in the Ammo Dump. I am waiting for those big moves to appear. Meantime, I keep myself entertained by doing small trades. I dont open a trade to make just 1 bid. I make as much as the market is willing to give. But if need be, I am faced with a situation where either I take that 1 bid or the market takes it back, then I will have no hesitation to grab that 1 bid and run.
These small small trades which I do whenever opportunities present themselves... I call them Chicken Run. And when I have a successful run, I get to harvest eggs. One egg represents one dollar. Decimals are ignored. Last Friday, I did 2 Chicken Runs. SHORT CapMallsAsia at 2.04 on Thu and covered at 2.03 on Friday. Collected more than 400 eggs nett. Then on that same day, I LONG CapMallsAsia at 2.02 and unLONG at 2.03 and collected another more than 400 eggs. That was a good day. On better days, the harvest can be more than 1000 eggs. But on a not-so-good day, it can be just 20 to 50 eggs. But do NOT belittle small profits. They add up. And they do your morale a lot of good. If you make $50 today, this month's phone bill is taken care of. If you make another $50 tomorrow, that can pay for half a tank of petrol. Another $50 the next day means your lunch and dinner for the next 5 days is taken care of. I dont know about you guys but I do find this very therapeutic and encouraging. These small trades are to keep me entertained and on my toes. Whilst I patiently wait for the Set Ups for the big moves to appear.
And when I see one, I will chio you. Hope you have your bullets available then to make the trade. I will just sound the GONG. The rest is up to you.
lglg666 ( Date: 24-Nov-2013 17:06) Posted:
| For the courses...it's my wife who insisted that I go. And yes...gone thru Txx, Chartxxxxx, Forex ones too and spent thousands & times and loss much more after that. Frankly I do enjoy attending just to watch gullible ppl...me and my wife included listening to mentors who can be my children talking about how much they earn trading...I always told my wife they made their money from greedy fools like us as trainers and maybe they are the very lucky traders during the good time who had the foresight to quit trading and become trainers....before they lose their pants. Only these past couple of years after I stopped chasing after rainbows....that I can be happy with my trading and found my freedom away from stocks and forex. To be happy with life doing just simple things...fishing, prawning, lim kopi, see movies, happy to wake up in the morning, hold my wife's hand and attend presentations/AGM/seminars together then have a good laugh afterwards. Yes....I'm one old bird. You are spot on regarding the training and courses....no need to go as most materials can be found on the net for free. All one has to do is to look for them and read then try out if it suits one's style. Of course, if got free good mentor to point out the right ways....things will be smoother eg like what you do to teach youngster to trade. Do more good deeds for good karma :) btw my coffin money is riding on Rowsley and it's warrants....with the rest on Wilmar, HyFlux and some leftovers in Viking, GRP and peanuts in Maxi-cash. For my own kids....the advice is "don't ever trade" & "easy early profit is not a blessing more like a curse/bad thing...made one super greedy and can cause huge headache/mess in one's future |
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Hello123, any update pls?
hello123 ( Date: 21-Oct-2013 14:24) Posted:
hello123 ( Date: 08-Nov-2013 12:58) Posted:
2 days after prediction on 18 sept , GLP rallied to and reacted down from 315 as predicted to crash to 297.
expecting a bounce from 297 ..
for more details , see http://sgxswinger.blogspot.sg/
hello123 ( Date: 18-Oct-2013 16:18) Posted:
GLP now 307 , could rally to 313-315 react down then go 330-332 react down then finally 338-40..
for more details , see http://sgxswinger.blogspot.sg/ |
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I don't know what to say.......... Lol
https://www.youtube.com/watch?v=NUgn-Kzgkxw
risktaker ( Date: 22-Nov-2013 11:12) Posted:
Market is terrible especially funds get ready for christmas..... market scene will not improved .....
1) The MAS has to release its investigation report of the 3 famous amos stock by dec.
2) The uncertainty is killing the market sentiment.
3) The circuit breaker that will trigger a trading halt in both ways. For how long and what is the percentage that will trigger it? I would say 30-40% and 15 mins will be nice...
4) Funds are going for holiday and penny stock hit by losses that many have not seen in years...i see gloomy days coming for singapore 2014....
Becareful.... 2014 will not be easy....
I hope PAP will do something about it.... times will be bad but cost keep on raising....
God bless Singapore..... huat ah.....
2014
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Dow Caps Longest Winning Streak Since 2011 on Jobs, Retail Sales
Click the chart for more data on this year's bull market.
U.S. stocks rose for a seventh week, sending the Dow Jones Industrial Average (INDU) to the longest stretch of gains in almost three years, as improved data on employment and retail sales offset concern over a cut in monetary stimulus.
SThe Dow and S& P 500 both ended higher for a seventh week. The Nasdaq posted its third consecutive weekly gain. The Standard & Poor?s 500 Index (SPX) added 0.4 percent to a record 1,804.76 over the five days, extending its longest weekly advance since February. The Dow climbed 103.07 points, or 0.7 percent, to 16,064.77.
Since January, the Dow has climbed by 22%, the S& P 500 is up by 26% and the Nasdaq has soared by 31%.
The surge is thanks in large part to the massive stimulus program administered by the Fed, which has supported the economic recovery with monthly bond purchases.
Related: Fear & Greed Index remains in Greed territory
With stock prices at such lofty levels, some investors say the market is becoming too expensive and the risk of a sell-off is increasing.
" When valuations start to get stretched, that's when we get nervous," said Wasif Latif, vice president of equity investments at USAA Investments. " This thing can go on for a while, but we're becoming more cautious."
The S& P 500 is now trading at 15 times earnings estimates for the next 12 months. That's up from a level of about 12 at the beginning of the year and is just above the market's long-term average. tocks rose further into record territory Friday, as expectations that the Federal Reserve will keep buying bonds for the foreseeable future offset concerns the market is overheating.
?The big change to me looking at this week is just the change in sentiment,? Daniel Genter, who oversees about $4.3 billion as president and chief executive officer of Los Angeles-based RNC Genter Capital Management, said in a telephone interview. ?More and more people are discounting that the potential tapering is not going to totally derail this market. There is life after tapering.? Stocks Rebound
Equities slipped during the first three days of the week as minutes from a Federal Reserve meeting indicated the central bank may reduce monetary stimulus in coming months. Stocks rebounded over the next two sessions, with the Dow closing above 16,000 for the first time, as data showed weekly jobless claims fell to the lowest level since September. Retail sales increased 0.4 percent in October, the most in three months, according to a Commerce Department report.
Four out of five investors expect the Fed to delay a decision to begin reducing its bond buying until March 2014 or later, according to the Bloomberg Global Poll of investors, traders and analysts who are subscribers. Just 5 percent are looking for a move at its Dec. 17-18 meeting, the Nov. 19 poll showed.
Three rounds of Fed bond purchases have helped push the S& P 500 up 167 percent from a bear-market low in 2009. The benchmark gauge for American equities is up 26.5 percent this year, poised for the best annual gain since 1998, and is trading for about 17 times its companies? reported earnings.
While the valuation reached the highest level since May 2010, it?s still below the multiples at the market?s two previous peaks, when the ratio reached 17.5 in October 2007 and 31 in March 2000, data compiled by Bloomberg show. ?Fairly Valued?
?The market is fairly valued,? RNC?s Genter said. ?With slow growth and minimal P/E expansion, earnings will be the focus and earnings are good and will carry us for another year.?
Profits for S& P 500 companies will grow 9.9 percent in 2014, up from a 4.8 percent increase this year, analysts? estimates compiled by Bloomberg show.
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World MarketsNorth and South American markets finished higher today with shares in Mexico leading the region. The IPC is up 0.99% while U.S.'s S& P 500 is up 0.50% and Brazil's Bovespa is up 0.21%. North and South American Indexes |
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LionGold anxious to hear from SGX
Company execs want to know outcome of probe into share trading
Published on Nov 22, 2013, ST
![[Image: ST_20131122_AGLION_3932018e.jpg]](http://www.straitstimes.com/sites/straitstimes.com/files/imagecache/story-gallery-featured/20131122/ST_20131122_AGLION_3932018e.jpg)
CEO Nicholas Ng says LionGold is ?just as amazed as anyone (about the wild swings in share price). We have no idea what?s happening?. -- ST FILE PHOTO
By Anita Gabriel Senior Correspondent
STUNG by a share price collapse and shattered investor sentiment, LionGold Corp's top executives now seem to be in the dark about the status of investigations into the trading of their shares.
In his first media interview since the saga erupted, LionGold chief executive Nicholas Ng yesterday said the company has sent a written query to the Singapore Exchange on the investigations.
But SGX has yet to respond.
" We are anxious to know as well about the outcome of the investigations and are just as amazed as anyone (about the wild swings in share price). We have no idea what's happening," Mr Ng told The Straits Times.
Trading in the shares of LionGold, Asiasons Capital and Blumont Group is being scrutinised by the Monetary Authority of Singapore and SGX.
The counters collapsed early last month, wiping out billions of dollars in market value, after reaching dizzying highs earlier.
Investors and broking firms are still reeling from huge losses.
Mr Ng addressed perceived links between two US firms - boutique finance house Jett Capital and New York-based hedge fund Platinum Partners Value Arbitrage Fund - and the trio.
Platinum Partners, which manages more than US$1 billion (S$1.24 billion) in assets, has been instrumental in striking several deals, particularly fund-raising exercises, involving all three companies. In many of these key deals, Jett Capital was the introducer. These links have led to the perception that the trio's share price falls may be related.
" It's fair and reasonable for us to say we don't quite care what Jett Capital does with Blumont, Asiasons or any other company. We are only concerned with the deal they brought to us and are definitely sure they (Jett Capital) are independent," he said.
Last week, LionGold unveiled plans to raise S$17 million by placing new shares to three parties - Wintercrest Advisors, a hedge fund owned by Platinum Partners, and two other people.
This plan pales in comparison to an earlier aborted deal for a private placement also partly involving Platinum which would have raised S$202 million.
" Given the choice, we'd have liked to raise more. But we are taking baby steps. We don't want to take bold moves."
Yesterday, LionGold said its gold mining unit in Ghana, Owere Mines, has inked a deal to acquire and process gold-bearing waste tailings from Australian- registered B& C Gold.
Mr Ng, formerly boss of DMG & Partners Securities, and investment banker at Rabobank International and Citicorp in Singapore, said the recent drama over the three stocks has dampened investor sentiment even in the wider penny stock market.
LionGold shares, at 17.7 cents, are trading at an enterprise value per ounce (EV/ounce) of gold of US$15, paltry compared with its listed peers, valued at more than US$230 EV/ounce.
Interestingly, Mr Ng said the firm's shareholder base has grown from 3,000 pre-saga to 5,000 or so now.
The firm, which has been on an aggressive shopping spree for gold mines since last March, may now look for partners to gobble up more assets down the road.
But for now, the acquisition binge may be on hold. At the height of the stock crisis, it had to call off the acquisition of a Peruvian gold miner.
" Our fundamentals have not changed. We have real assets in Australia, Africa, South America and Canada. We are waiting for the dust to settle. It's been very frustrating. We also want an explanation. We look forward to the new year," Mr Ng said.
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感 谢 分 享 !
guoyanyunyan ( Date: 22-Nov-2013 10:41) Posted:
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Lol..... Horse year good for Lion.........
Teochew ( Date: 22-Nov-2013 07:43) Posted:
| Liongold's medical leave till end Dec 13 and should be fully recovered by then. 2014 is a better year of this counter. |
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Earnings growth on track with possible one-time gain in 2Q14.
Valuation
? Tiong Woon (TWC) is trading at a 33% discount to its book value of 52.2 S cents with a dividend yield of 1.1%. As at 30 Sep 13, Tiong Woon had a fleet of 431 cranes in lifting assets, 262 vehicles and equipment in haulage assets and 17 tugs and barges in marine assets.
Investment highlights
? TWC reported an 11% yoy increase in net profit to S$4.6m in 1Q14,
driven by a rise in revenues and margins from the Heavy Lift and
Haulage and Trading segments. Total revenue rose 3% yoy to S$44.6m
and gross profit jumped 30% to S$14.8m with gross profit margin
improving to 33% from 26% in 1Q13. The Heavy Lift and Haulage
segment recorded a 6% yoy increase in revenue to S$36.3m and
contributed 81% of the Group?s revenue.
? According to management, the company should see a slight
improvement in utilisation rate after deploying two heavy tonnage
cranes into Russia. On top of this, TWC will also be actively seeking oil
and gas, petrochemical, power and construction projects in Myanmar,
Vietnam and India.
To reduce operating costs, TWC is currently evaluating the tenders
for the re-development of the new office and warehouse space at 15
Pandan Cresent. This property will add 1ha of parking space on the
rooftop as well as a 500-bedded workers? dormitory. The company
expects to lower their total manpower costs and there is also a
possibility of renting out half of their dorms.
? TWC has sold its loss-making subsidiary Tiong Woon Oil & Gas
Services Pte Ltd for a sum of S$18.0m. The subsidiary is in the
business of marine fabrication and engineering works for oil and gas
projects but has faced several challenges in getting new contracts due
to a lack of track record. With the disposal, the company is likely to
record a gain on disposal of approximately S$2.7m in the next quarter.
? We re-iterate that Tiong Woon is not a pure crane rental operator.
Tiong Woon differentiates itself from other crane operators by providing
a comprehensive project management service apart from bare crane
rental. These service project contracts are longer term in nature (rates
are locked in) and therefore, earnings are theoretically less volatile in
nature.
Price Chart
Source: Bloomberg
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CapitaMalls Asia - First foray into Guangzhou
CMA?s latest acquisition in Guangzhou is its first but is unlikely to be its last. The pricing looks reasonable for a site in a tier-1 city and leaves scope for yield enhancements after one leasing cycle. Earnings downtime is also reduced by partial completion slated for end-2014.
We are overall positive on this deal though the immediate impact on RNAV is expected to be muted. We lift our target price (still based on a 10% discount to RNAV) and adjust our FY13-15 core EPS by +2%/-3% for this acquisition. We reiterate our Outperform rating, with rental yield improvements and potential asset recycling being the catalysts. What Happened CMA announced that it will acquire in full a shopping mall at Baiyun Greenland Centre in Guangzhou, China. The vendor is Greenland Real Estate, a subsidiary of the Greenland Group. The total cost is expected to be RM2.64bn or S$534.1m on a completed basis. This works out to c.Rmb30k psm GFA or Rmb47k psm NLA. This is CMA?s first foray into Guangzhou though it owns five retail malls in the greater Guangdong area.
What We Think Construction of this mall is at the final stages and the mail is expected to open in late 2014. Acquisition at this stage will allow CMA to reduce earnings downtime and lower pre-opening losses. Pricing-wise, the deal looks fine. Strata-titled retail units in the area have been sold at c.15% higher or Rmb35k psm GFA. We believe Chinese developers will continue to divest commercial properties to free up tied-up capital, presenting more opportunities for purer retail operators like CMA.
Management indicated that comparable malls in the location are fetching gross rents of c.Rmb250-300 psm. CMA?s latest mall is strategically located, being connected to the Baiyun Park subway station. We think rents could be slightly higher than market. Assuming a gross rent of Rmb300psm, we estimate an initial yield of 4.9%, in line with its previous acquisitions. We expect its NPI yield to rise to c.6% after one rental cycle (typically three years).
CMA?s track record in lifting yields has been good. Net gearing is expected to rise to c.60% in FY14 (look-through), manageable in our view, with more assets set to complete and Grand Canyon mall to be divested.
Technical Analysis | | Daily Chart |
We maintain an Outperform as more of its retail malls will mature in FY14-15. (Read Report)
Read Related Report
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CapitaLand - Restructuring back on?
 We think the partial sale of ALZ could mark the resumption, albeit a gradual one, of CapLand?s restructuring plans. ROE is unlikely to improve immediately but reallocating capital to its core markets is a good start, in our view.
We lower our FY13-15 core EPS by 2-8% to account for lower ALZ earnings but our target price (still based on a 20% discount to RNAV) rises due to higher ALZ equity value. Maintain Outperform with catalysts to come from more capital recycling and operational improvements.
What Happened CapLand has successfully sold, in a secondary placement exercise, 115.6m stapled securities of Australand Property Group (ALZ AU, Not Rated) or 20% of the total issued stapled securities. The placement was priced at A$3.685/share, a 1.7% discount to the last closing price or at 1x P/BV. This move brings CapLand?s stake in ALZ from 59.1% to 39.1%, with ALZ to be deconsolidated from CapLand?s books. The stapled securities were placed out to institutional investors.
What We Think A one-time S$163m foreign currency translation reserve and hedging loss will be realised as ALZ?s financials are deconsolidated. This has no impact on its book value as it has already been accounted for. Earnings contribution from ALZ will decline proportionately but we expect new commercial property completions at the CapLand and CMA level to offset the impact.
However, we are positive on this move from a strategic standpoint as it potentially marks a resumption, albeit a more gradual one, of its streamlining and restructuring process. CapLand says that ALZ will remain a key investment but is not closing any doors to a full exit. We retain our view that ALZ will eventually be fully divested.
The S$485m proceeds are expected to be redeployed into China and/or Singapore. Unlike Australia, these are its core markets, where it can scale up. That said, investors expecting a major lift in ROE in the near term may be disappointed.
We estimate ALZ generates around 6.5-7% ROE for CapLand, which could take a few years to achieve for new investments in China commercial properties (ex-reval gains). Technical Analysis
 | | Daily Chart |
What You Should Do CIMB TP 3.94 Maintain Outperform, with the stock trading at the widest RNAV discount (38%) among the big-caps. (Read Report)
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F & N - Value uncapped
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Dow Closes Above 16,000 on Jobless Claims, Buybacks
Click the chart for more stock market data.
U.S. stocks rose, sending the Dow Jones Industrial Average to its first close above 16,000, as data showed improvement in the job market and companies including Union Pacific Corp., Johnson Controls Inc. and Ace Ltd. said they would repurchase shares.
The Standard & Poor?s 500 Index increased 0.8 percent to 1,795.85 at 4 p.m. in New York, erasing most of the decline from the past three days. The Dow average rose 109.17 points, or 0.7 percent, to a record 16,009.60.
?After three consecutive negative days it?s reasonable to expect a breather at least in the beginning of the day,? Lawrence Creatura, a Rochester, New York-based fund manager at Federated Investors Inc., which oversees about $364 billion, said in a phone interview. ?There is some good news in the labor report too in that it does indicate a degree of improvement.?
Investors are pouring more money into stock mutual funds in the U.S. than they have in 13 years, attracted by a market near record highs and stung by bond losses that would deepen if interest rates keep rising. Stock funds won $172 billion in the year?s first 10 months, the largest amount since they got $272 billion in all of 2000, according to Morningstar Inc. estimates. Fund Flows
The move marks a reversal from the four years through 2012, when investors put $1 trillion into fixed income as the financial crisis drove many to redeem from stocks and miss out as the S& P 500 almost tripled from its low. The U.S. equity benchmark traded for about 17 times its companies? reported earnings at its last record on Nov. 15, the highest valuation since May 2010.
The S& P 500 rose above 1,800 for the first time on Nov. 18 before erasing the advance. The equity benchmark dropped during the first three days of the week after forecasts from Best Buy Co. and Campbell Soup Co. disappointed investors and minutes from a Federal Reserve meeting indicated the central bank may reduce monetary stimulus in coming months. Jobless Claims
U.S. jobless claims in the week ended Nov. 16 dropped by 21,000 to 323,000, the fewest since the week ended Sept. 28, from a revised 344,000 the previous week, the Labor Department said today in Washington. The median forecast of 47 economists surveyed by Bloomberg called for a drop to 335,000.
American consumers became less pessimistic in November about the economic outlook as the effect of last month?s partial government shutdown dissipated, according to data from the Bloomberg Consumer Comfort Index released. The gap between positive and negative expectations for the economy shrank to minus 14 from a two-year low of minus 31 in October.
Financial stocks in the S& P 500 (SPX) collectively climbed 1.5 percent, the most among 10 main groups. Ace, an insurer with operations in more than 50 nations, led gains in the industry with a 3.8 percent advance to $101.53. The company said that it is targeting $1.5 billion in share repurchases through the end of next year. European markets closed mixed. The CAC 40 in Paris slipped after new data showed a contraction in French private sector output in November.
Asian markets were also mixed. Hong Kong and Shanghai's indexes fell after Chinese manufacturing stumbled for the first time in four months. But Japan's Nikkei surged almost 2% as the Bank of Japan expressed optimism about the country's recovery and said it would make no changes to its stimulus program
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World MarketsNorth and South American markets finished mixed as of the most recent closing prices. The S& P 500 gained 0.81% and the IPC rose 0.50%. The Bovespa lost 0.65%. North and South American Indexes |
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Haiz........I don't know what/how to say........
seanpent ( Date: 21-Nov-2013 15:01) Posted:
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many shortists surfacing, even having a Shortist Corner shop newly opened..... guess gonna be another " expect the unexpected" day ..... |
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Singapore shares fall to 1-week low on Fed stimulus withdrawal fears: Reuters
Singapore shares fell for a third consecutive session to a one-week low on Thursday after minutes of the US Federal Reserve's October meeting indicated possible stimulus withdrawal at one of its next few meetings.
The benchmark Straits Times Index was down 0.5 percent at 3,168.19 at 0435 GMT. The MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.3 percent....
Palm oil producer Golden Agri-Resources Ltd and casino operator Genting Singapore PLC were among the worst performers on the index. Genting shares fell 2.1 percent to an almost seven-week low of S$1.42 while Golden Agri dropped as much as 4.3 percent to S$0.56.
However, shares of Rex International Holding Ltd, advanced for a third consecutive session, rising 4.1 percent to S$0.64. The oil exploration company confirmed on Wednesday it acquired 10 percent stakes in two offshore licenses in Norway from North Energy ASA.
On the economic front, Singapore raised its full-year growth forecast for 2013 to between 3.5 and 4.0 percent after third-quarter GDP grew 5.7 percent from a year ago, helped by further signs of a recovery in manufacturing and continued strength in services.
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CapitaLand prices Australand stake sale at bottom end of range, yielding $400 mln: Reuters
CapitaLand Ltd, Southeast Asia's largest property developer, priced a third of its majority stake in Australand Property Group at the low end of an indicated range, valuing the stake's sale at A$426 million ($400 million).
At the start of the year, Singapore's CapitaLand said it would review its Australia presence, and that it regarded Australand as more a financial investment and as a company with a business model different from its own. It later concluded its stake was a " key investment." ...
CapitaLand is reducing its stake in Australand to 39.1 percent from 59.1 percent by selling 115.66 million stapled securities at A$3.685 each, the company said in a statement on Thursday after flagging the sale a day earlier.
The top end of the indicative range was A$3.75. The stock was down 4 percent at A$3.95 at 0145 GMT.
The sale will improve the stock's liquidity and in turn improve its index ranking, which together will boost interest in Australand from institutional investors, CapitaLand said.
It said it will use the proceeds for " new opportunities."
" We are confident of the prospects of Australand as well as the real estate sector in Australia," said Lim Ming Yan, CapitaLand's president and group chief executive officer. " We are comfortable with our remaining interest in Australand and it will remain a key investment for us."
The placement will result in a loss of about S$127.5 million
($102.5 million) taking into account divestment gain, fair value gain and a one-time accounting loss arising from the recognition
of foreign currency translation losses and hedging reserves, CapitaLand said.
CapitaLand shares were a shade higher in a weak broader Singapore market, having fallen 17 percent so far this year.
Citigroup is the sole bookrunner for the placing which is likely to end on Nov. 26, CapitaLand said.
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