Chiwayland: (S$0.082) Expanding its Australian exposure; trades at deep discount to book
- Received endorsement from city council to more than double floor space ratio at its Parramatta residential project.
- Final hurdle from the state government expected before Nov 2016.
- Potential effective surplus of A$193m from the project, more than double its current market cap of $54.7m.
- Trading at significantly discounted 0.26x P/B.
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