Bloomberg.com
15 Jul 2008
July 15 (Bloomberg) -- City Developments Ltd. fell the most in more than four months, leading declines by Singapore developers after Credit Suisse Group AG said rising construction costs and an inability to raise prices will erode profits.
City Developments, the city-state's second-largest developer, fell 58 cents, or 5.3 percent, to S$10.36 at the 5:05 p.m. close. CapitaLand Ltd., its closest domestic rival, dipped 21 cents, or 3.6 percent, to S$5.60, its biggest decline in three weeks, and Keppel Land Ltd., the third-largest real estate firm, lost 6 cents, or 1.3 percent, to S$4.65, its weakest since Sept. 13, 2006.
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