Vincent Ong 6598531741

Crown the ‘Landlord king’ as shares jump 8%

  • Shares of low-profile property developer Bukit Sembawang soared almost 8% yesterday after DBS Bank issued a report, crowning it the “Landlord King”.
  • About 75% of its more than 2.8 million sq ft land bank is undeveloped and zoned for landed properties, largely in Ang Mo Kio, Seletar and Sembawang.
  • The potential downside of the company was that it could have to pay qualifying certificate penalties for 2 of its projects – Paterson Collection and St Thomas Walk – if they are still unsold by the third quarter of 2017 and 2019 respectively.

3rd March 2017

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