Portfolio: We’re adding back CDL, Best World and Venture

SINGAPORE (July 8): Equity markets have recovered somewhat after Britain’s rattling vote to quit the European Union. However, we still expect elevated market volatility in the months ahead. To begin with, the British pound has continued its steep depreciation against the US dollar amid a relentless sell-off by investors. Then, there is the imminent US presidential elections, which could add to heightened political uncertainty.

While we are wary of another sharp sell-off in the markets, we think this is an apt time to pick up some stocks with good micro-fundamentals. This week, we are again adding an additional stock to each of our three portfolios.

CDL unlocks value
We are adding property developer City Developments (CDL) to our blue-chip portfolio. This stock was one of the holdings in the portfolio when we liquidated everything five weeks ago. We sold it at $8.81 per share. Since then, it has fallen to $8.04.

---

Related Stories

• Venture Corp posts $60.6 million net profit in 3QFY2024, down 4.7% q-o-q
• City Developments’ acquisitions likely to top $2 bil this year with Xintiandi purchase
• Mixed reactions to City Developments' purchase of a choice site in Xintiandi

---