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Property players, Temasek suffer paper losses of $1.1b
Tue, Sep 15, 2009
The Straits Times
By Goh Eng Yeow
PROPERTY tycoons and Temasek Holdings have taken the biggest battering from the Government’s introduction of measures designed to prevent future dramatic price swings in the residential property market.
The paper losses incurred by the eight biggest tycoons as a result of the raft of market-calming measures announced yesterday – City Developments’ (CDL) Mr Kwek Leng Beng included – amounted to nearly $700 million.
And Temasek Holdings suffered a total paper loss in share value of some $396 million, after the valuation of its stake in CapitaLand fell at a stroke by $267 million and that of Keppel Land by $129 million
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Post Published: 14 September 2009
Author: admin
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