SINGAPORE (Aug 2): Daiwa has maintained its "buy" call for City Developments (CDL), with a target price of $10.93.
This comes as a Daiwa report dated July 29 says that a Business Times article had reported that CDL is working on a profit-participating-securities (PPS) scheme involving its private residential development, Nouvel 18.
The proposed scheme would allow CDL to avoid Qualifying Charges (QC) on unsold units, estimated at $38 million in the first year of extension, with half of that amount due in November 2016.
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