Capitaland and CCT today announced the joint redevelopment of Market St carpark into a $1.4 billion office building or $1900 psf of NLA. Tuan Sing's Robinson Towers and International Factors Building is directly opposite the development on Market Street.
A further catalyst for rerating of Tuan Sing's commercial assets. Clearly the share price has continued trending up in the last couple of days. And looks like the trend is not likely to end soon.
KimEng Research today warns of impact of Additional Buyer's stamp duty on Tuan Sing's new projects of 2012....Also, the office mrket looking weak, so the catalyst is not there from upgrading of its office properties. Downgraded to hold.