Updates from the previous post here. What was interesting from the tables below was that the smaller property developers ie Hock Lian Seng (HLS) and KSH are in net cash for their debt-to-equity ratio (HLS was recently came under my watchlist. There was a bit of buzz around it but I will leave that for another post later) Singapore Land (SL) has  two projects – Pollen & Bleu and Mon Jervois. These are in good districts aka atas area (CCR and OCR), hence selling price is beyond the reach of the masses. SL will take a ABSD hit in 2017 of 75% and 12% respectively of their revenue. (fyi, SL belongs to UIC) Wheelock (WL) also has a few atas projects under its belt, Le Nouvel (dont understand why all these atas project need to have Le this or Le that. ), Ardmore 3, The crest. Furthermore, the budget ......