CapitaMalls Asia

[millionairemind]

Thanks MM for bringing this one to my attention. It has been on my watchlist for a while but when it jumped to 2.70, I took it off my watch-list.

Vested now with a small position to follow their story

W - Always welcome.

My intra-day trader friend alerted me to this one around 3pm. He watches stocks for signs of accumulation and base forming before they make their moves.

Lets see how this one pans out.

[LenaHuat]

I'm keen on this ticker too but I don't think it's time to collect. 50 more basis point tightening from the Central Bank

[winston]

Vested.

Capital Group increased their stake to 11.23%.

[millionairemind]

DJ MARKET TALK: Cosco May Be Dropped From STI, CMA Added - Nomura

0151 GMT [Dow Jones] Cosco (F83.SG) may be dropped from STI while CapitaMalls Asia (JS8.SG) may be added in index's next semi-annual review in March; "this is the opposite of the review one year ago, where two real estate stocks were deleted and two consumer services added." Notes no changes in last review in September.

Expects CapitaMalls Asia to be assigned weight of 0.65% on STI; Cosco's current weighting at 0.45%. STI made up of 30 companies with largest market cap on Singapore Exchange. FTSE ST Advisory Committee expected to unveil results of review around March 11, with any changes taking effect after market close on March 19. (FKH)

Source: Dow Jones Newswires

[Aspellian]

So STI-index funds around the world have to buy CMA now as part of their investment mandate.
it will also raise CMA's investment profile more.

High of $2.75
Low of $2.19
Current at $2.32 (18% away from the high price).

[Musicwhiz]

The STI works on a survivorship bias. Drops the "lousy" companies and add in the "promising" ones. That's why I have some form of disdain for any company on the index. It's most likely fairly valued, if not over-valued! This is because funds rush like lemmings to buy it the moment it is added, including index funds......

[millionairemind]

The STI works on a survivorship bias. Drops the "lousy" companies and add in the "promising" ones. That's why I have some form of disdain for any company on the index. It's most likely fairly valued, if not over-valued! This is because funds rush like lemmings to buy it the moment it is added, including index funds......

aiya, this kind of survivorship bias is Y the index keeps going up over a VERY VERY LONG.... TERM

That's Y those who don't read enough or know only a little bit always say "the market will come back up" and "DIE DIE HOLD ON TO THEIR LOSING STOCKS"

Sure it will come back up, but your stock might not, FOREVER

[Musicwhiz]

Yap, MM. Thanks! Good reminder.

[millionairemind]

Updated chart. Bounded by 10 and 50DMA. 10DMA turning up. Nice

[millionairemind]

March 8, 2010, 6.34 pm (Singapore time)

CapitaMalls Asia buys integrated devt in Chengdu for S$114m

By KALPANA RASHIWALA

CapitaMalls Asia (CMA) announced on Monday that it has agreed to buy an integrated development comprising retail, residential and office components in the Chinese city of Chengdu for 554.2 million yuan(S$114.0 million) from CapitaRetail China Development Fund II (CRCDF II).

Inclusive of the land cost of 305.0 million yuan (S$62.7 million) and construction and fitting-out costs, CMA's estimated total expenditure on the development is about 1.79 billion yuan (S$367.9 million), or 8,866 yuan per square metre of gross floor area (GFA), equivalent to S$1,823 psm of GFA.

The development will have a total GFA of 201,813 square metres and about 1,348 car park lots when completed. This will include a shopping mall with a GFA of 133,571 sq m and residential and office components with planned GFA of 33,246 sq m and 22,820 sq m respectively.

The integrated development is conveniently located in Chengdu's Gao Xin district, at the core of the city's upcoming South Business District (SBD), north of the South Third Ring Road. The project is within 50 metres of a completed metro train station which is expected to be operational by the third quarter of this year.

The retail component, called Tianfu Mall, will connect directly to the metro train station at its basement level. There are also plans to have a second metro line come through this station after 2014.