Faced with curbs on luxury residences and fundraising at home, China’s biggest mainland-listed property developer is building apartments for wealthy Chinese in Singapore and raising debt in the city’s currency.
Keppel Land Ltd., the property developer partly owned by the world’s largest builder of oil rigs, had its biggest gain in three weeks in Singapore trading after profit rose 70 percent on increased sales of apartments.
Hongkong Land Holdings Ltd., which owns a stake in the biggest developer of Singapore’s new financial center, will seek more commercial plots in the island- state as tenants seek to upgrade to new buildings.
Keppel Land Ltd., the property developer partly owned by the world’s largest builder of oil rigs, surged to a two-month high after reporting a 47 percent increase in fourth-quarter profit and a record payout.
Keppel Land Ltd. is marketing dollar- denominated notes, its first public bond sale in the U.S. currency since 1995, as yield premiums for Asian issuers headed for the biggest annual drop in three years. Asia debt risk rose.
The following companies may have unusual price changes in Asian trading tomorrow. Stock symbols are in parentheses, and share prices are as of the latest close. The information in each item was released after markets shut unless stated otherwise.