Stock Name: UEMLAND
Company Name: UEM LAND HOLDINGS BHD
KUALA LUMPUR: UEM Land Bhd shares were actively traded on Tuesday, June 28 after the company was appointed to jointly oversee the marketing and development of projects in Singapore and Malaysia.
At 9.40am, UEM Land rose six sen to RM2.88 with 2.88 million shares traded.
RHB Research has upgraded UEM Land to a trading buy and raised its target price for the stock to RM3.35 from RM2.80.
Khazanah Nasional Bhd and Singapore's Temasek Holdings Ltd last night announced the establishment of two JV companies to undertake development of land parcels in Malaysia and Singapore.
Khazanah and Temasek have incorporated a company called M+S Pte Ltd on a 60:40 basis to undertake development of the land in Singapore.
M+S will develop four land parcels in Singapore's financial district in Marina South and two in Ophir-Rochor. All the projects are envisaged as integrated developments.
UEM Land and a wholly-owned subsidiary of Mapletree Investments Pte Ltd, a unit of Temasek, have been appointed to oversee the marketing and development of the project in Marina South.
For the Ophir-Rochor site, UEM Land and a wholly-owned unit of CapitaLand Ltd, another Temasek portfolio company, have been appointed to oversee the project
Company Name: UEM LAND HOLDINGS BHD
| Research House: RHB | Price Call: TRADING BUY | Target Price: 3.35 |
KUALA LUMPUR: UEM Land Bhd shares were actively traded on Tuesday, June 28 after the company was appointed to jointly oversee the marketing and development of projects in Singapore and Malaysia.
At 9.40am, UEM Land rose six sen to RM2.88 with 2.88 million shares traded.
RHB Research has upgraded UEM Land to a trading buy and raised its target price for the stock to RM3.35 from RM2.80.
Khazanah Nasional Bhd and Singapore's Temasek Holdings Ltd last night announced the establishment of two JV companies to undertake development of land parcels in Malaysia and Singapore.
Khazanah and Temasek have incorporated a company called M+S Pte Ltd on a 60:40 basis to undertake development of the land in Singapore.
M+S will develop four land parcels in Singapore's financial district in Marina South and two in Ophir-Rochor. All the projects are envisaged as integrated developments.
UEM Land and a wholly-owned subsidiary of Mapletree Investments Pte Ltd, a unit of Temasek, have been appointed to oversee the marketing and development of the project in Marina South.
For the Ophir-Rochor site, UEM Land and a wholly-owned unit of CapitaLand Ltd, another Temasek portfolio company, have been appointed to oversee the project
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