Are foreign capital controls any good for local developers?

SINGAPORE (Dec 14): Recent moves by China, Malaysia and Indonesia to stem capital outflows from each of their respective country is a timely reminder that the free flow of capital across borders should not be taken for granted, says UOB Kay Hian.

And although no country in the region has yet resorted to draconian capital controls, UOB Kay Hian sees minimal impact on Singapore’s property market even if the controls are tightened further.

“We remain Neutral on the sector with CapitaLand Commercial Trust, Keppel REIT and UOL as our preferred stocks in the year ahead,” says analyst Derrick Heng in a Wednesday report.

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