SC Global

SC Global: IIFL reduce TP to $1.40, but maintains Buy Rating. Optimistic on long-term growth prospects of SG as a financial hub and believes the rise in office demand of late has not been reflected in the residential demand. Whilst near-term risk of govt measures is present, house believes it is in govt’s interest to keep property prices steadily rising in long-run. Note that high-end segment is the only segment that has not reached its previous peak.