APAC Realty

Covid-19 uncertainties ahead keep APAC Realty at 'hold'

The company believes that the negative impact of the Covid-19 outbreak on the Singapore property market will be relatively short-lived.

In an SGX filing, the board thanked Tan for his services and contributions during his tenure with the company.

DBS analyst Ling Lee Keng has maintained her “hold” call on APAC Realty with a target price of 41 cents from 52 cents previously.

Listed real estate agency APAC Realty, which operates the ERA brand, said that real estate market transactions “plunged” in the months of April and May due to the circuit breaker measures, which ended on June 1.

Here are three stocks to watch for the week: APAC Realty, Starhill Global REIT and Penguin International.

While market sentiment remains weak, APAC Realty has secured a healthy pipeline of marketing appointments with 25 new projects, or 7,466 units, as of February to be launched this year.

APAC Realty which runs the ERA franchise here, bought 10,000 shares at 38 cents each. On March 16, he bought another 50,000 shares at 36 cents each. Chua now owns 80,000 shares, or 0.02% of the company.

SINGAPORE (Feb 26): Real estate services provider APAC Realty has today acquired a 38% interest in ERA Vietnam for $1.5 million, providing the group with access to Vietnam’s vibrant real estate market.

SINGAPORE (Feb 25): Analysts are rather positive on real estate brokerage APAC Realty, following the announcement of its 4Q19 and FY19 results.