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Flunctuting
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tongphlp
Supreme |
20-Aug-2026 11:29
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ok down 3c, 3 or more to go!
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ruanlai
Elite |
19-Aug-2026 14:22
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Today last day for 6cents div, tmr xd.
Dyodd |
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Joelton
Supreme |
15-Aug-2026 16:13
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CDL&rsquo s divestments will &lsquo probably be more weighted&rsquo in 2HFY2026 more details to come in strategic review Shares in City Developments (CDL) surged 9.67% or 76 cents to $8.62 at market open on Aug 13 after posting a strong set of results for the 1HFY2026 ended June 30. The group&rsquo s patmi surged 230.7% y-o-y to $301.6 million, mainly due to the strong Singapore property development segment, driven by the full contribution from the Lumina Grand executive condominium, and supported by other Singapore projects such as Newport Residences, Norwood Grand and Union Square Residences. Revenue grew by 61.1% y-o-y to $2.72 billion, underpinned by a 166.8% y-o-y surge in the property development segment. &ldquo It&rsquo s been a really good start for us,&rdquo says group CEO Sherman Kwek. However, he acknowledged that capital recycling gains, which led to the patmi growth in the 2HFY2025, were &ldquo noticeably absent&rdquo due to several factors including the conflict in the Middle East, the change of government in the UK, as well as turbulence &ldquo here and there&rdquo that dampened investor optimism. Across CDL&rsquo s three major business segments, the investment properties segment was the only one that posted lower ebitda and profit before tax y-o-y in 1HFY2026. Completed divestments in 1HFY2026 included Quayside Isle and the remaining strata units at Fortune Centre. Despite the accounting practice, Kwek says he does not count the $97.3 million divestment of the Sentosa Cove retail asset as it was announced in December 2025 but completed in January this year. That said, divestments will &ldquo probably be more weighted&rdquo in 2HFY2026, with momentum returning, adds Kwek. &ldquo Some are fairly significant divestments we are in very advanced stages, but they may not close by this year &mdash some may trickle into next year.&rdquo &ldquo As mentioned at previous briefings, capital recycling is going to be a core part of our DNA and our business as usual. So we&rsquo ve really got to get that ramped up, and that will really provide a stronger base for our results,&rdquo he says. At CDL&rsquo s FY2025 results briefing in February, Kwek said that capital recycling initiatives would be a core pillar of the group&rsquo s business moving forward as it tries to &ldquo keep the levels up&rdquo from its record performance in FY2025. When asked if there will be a dip in dividends at the end of the year if the divestments don&rsquo t come through, Kwek reiterated the group&rsquo s policy, but added that there will be a risk of lower dividends if the group does not match its patmi level in FY2025. CDL&rsquo s hotel operations segment returned to profitability in 1HFY2026, turning around from a pre-tax loss of $84.4 million in 1HFY2025 to a pre-tax profit of $42 million in 1HFY2026, mainly driven by higher revenue and a net exchange gain from the appreciation of the Singapore dollar. CDL&rsquo s portfolio includes over 160 hotels worldwide. Global revenue per available room (RevPAR) increased 4.9% y-o-y in 1HFY2026. Singapore hotels recorded a 3.9% y-o-y increase in RevPAR, boosted by higher occupancy from the Singapore Airshow in February. CDL&rsquo s hotels in the rest of Asia saw a 1.7% y-o-y decrease in RevPAR, reflecting softer market conditions in Kuala Lumpur, Jakarta and Manila. Australasia delivered a 14.3% y-o-y increase in RevPAR, Europe hotels recorded a 1.9% y-o-y gain in RevPAR and US hotels increased RevPAR by 9.6% y-o-y in 1HFY2026. The first half was &ldquo still quite volatile&rdquo , says Kwek Eik Sheng, CDL group COO and executive director of Millennium & Copthorne Hotels (M& C). &ldquo Even though there were some hotels and regions which were impacted, we saw other regions pick up the slack as well. That&rsquo s the benefit of having a very diversified portfolio.&rdquo M& C, described as a &ldquo principal subsidiary&rdquo of CDL, is considered a core part of the business. &ldquo I don&rsquo t think we would change that formula for now,&rdquo says Eik Sheng, &ldquo but I think there&rsquo s only so much we can share at this point.&rdquo The group&rsquo s UK purpose-built student accommodation portfolio &mdash comprising six assets &mdash was a &ldquo drag&rdquo with a yield of cost of about 4% on the loan. Given that the market has been under pressure and has had some structural challenges, the group is also looking to see if it should expand, shrink or completely divest the portfolio. Strategic review: delayed, not derailed When CDL first announced that it was embarking on a strategic review, it was slated to release its findings at the end of June. That has since been moved to the end of September. &ldquo We wanted to really spend enough time to make sure that we do a thorough review and ensure that we have a proper road map of how we&rsquo re going to implement the whole refreshed strategy and how we&rsquo re going to get there, and so ensure that every number that we share with you towards the end of September is properly backed up,&rdquo says Sherman. He adds that the review is actually &ldquo more or less complete&rdquo , with the board unanimously giving its stamp of approval yesterday. &ldquo It&rsquo s been close to a year since we started this, but we still need to tweak certain final parts,&rdquo he continues. &ldquo As management, we have to ensure that everything we put out there we can absolutely deliver.&rdquo In 2018, CDL articulated its goal to be a leading fund manager in Asia by 2023 and achieve US$5 billion in assets under management (AUM) by then. RHB Bank Singapore analyst Vijay Natarajan notes at the briefing that CDL&rsquo s growth has been slow and short of this target. Sherman notes that the group&rsquo s current AUM on the financial side is at $4 billion, which mainly comprises its two REITs &mdash CDL Hospitality Trusts and IREIT Global &mdash as well as a few &ldquo small private things&rdquo . He adds that the group will &ldquo address more details&rdquo at the coming briefing over the outcome of its strategic review, although he acknowledged that fund management will play a &ldquo much bigger role&rdquo for the group in the future. &ldquo Having said that, we do have plans to substantially grow this, and obviously put a much stronger setup in place where I&rsquo m sure we can get there. But yes, we will unveil more details on that next month.&rdquo When asked about its gearing levels, the group CEO notes that the group&rsquo s gearing &mdash which rose to 75% from 71% six months ago &mdash increased due to the two government land sales (GLS) sites it acquired at Tanjong Rhu Road and Peck Hay Road. &ldquo We think they&rsquo re good purchases, but it does add to our gearing,&rdquo he says. &ldquo It&rsquo s not at the level we were comfortable with.&rdquo That said, the group has a &ldquo very concrete plan backed by assets and numbers&rdquo to lower its gearing to a level that &rdquo everybody should be very happy with&rdquo , says Kwek. Executive chairman Kwek Leng Beng added that the group looks at the big picture and it is &ldquo not quite often&rdquo that one looks at things in isolation. &ldquo What we want is to be the best of its kind and I will not hesitate to do that.&rdquo |
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Joelton
Supreme |
14-Aug-2026 10:09
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CDL shares surge 11.2% on strong H1 earnings, doubling of interim dividend [SINGAPORE] Shares of property developer City Developments Ltd : C09 0% (CDL) jumped as much as 11.2 per cent or S$0.88 to S$8.74 at the opening bell on Thursday (Aug 13). The group announced pre-trading that its results for the first half of the year ended Jun 30 trebled to S$301.6 million, from S$91.2 million in the year-ago period. By 9.55 am, CDL shares were trading at S$8.51, still S$0.65 or 8.3 per cent up, after almost 3.9 million shares worth around S$32.8 million changed hands. The jump in net profit was driven by robust performance in its property development segment, notably full revenue and profit recognition from Lumina Grand, a 512-unit executive condominium in Bukit Batok, which obtained its temporary occupation permit in April. In addition to Lumina Grand, top-line performance was bolstered by maiden contributions from Newport Residences &ndash which was launched in January and is 83 per cent sold &ndash along with higher contributions from projects such as Norwood Grand and Union Square Residences. In total, CDL and its joint venture associates sold 352 residential units in Singapore worth S$892.2 million in H1 2026. Revenue for the six months grew 61.1 per cent to S$2.72 billion, from S$1.69 billion in H1 FY2025. The board declared a tax-exempt one-tier interim dividend of S$0.06 a share, double the S$0.03 a share declared in H1 FY2025. Basic earnings per share rose to S$0.333, compared with S$0.097 a year earlier. CDL H1 profit jumps three times to S$301 million on strong condo sales, doubles interim dividend [SINGAPORE] Property developer City Developments Ltd (CDL) : C09 0% on Thursday (Aug 13) said it tripled its net profit for the first half ended Jun 30 to S$301.6 million, from S$91.2 million in the year-ago period. The jump was driven by a robust performance in its property development segment, notably full revenue and profit recognition from Lumina Grand &ndash a 512-unit executive condominium (EC) in Bukit Batok &ndash which obtained its Temporary Occupation Permit in April. Revenue for the half year grew 61.1 per cent to S$2.72 billion, from S$1.69 billion in H1 2025. The board declared a tax-exempt one-tier interim dividend of S$0.06 a share, double the S$0.03 a share declared in H1 2025. The dividend will be paid on Sep 4, after the record date on Aug 21. Basic earnings per share rose to S$0.333, compared with S$0.097 a year earlier. Revenue from property development jumped 166.8 per cent to S$1.56 billion in H1 2026, up from S$583.2 million previously. In addition to Lumina Grand, top-line performance was bolstered by maiden contributions from Newport Residences &ndash which was launched in January and is 83 per cent sold &ndash along with higher contributions from projects such as Norwood Grand and Union Square Residences. In total, CDL and its joint venture associates sold 352 residential units in Singapore worth S$892.2 million in H1 2026. Pre-tax profit for the property development segment climbed 121.8 per cent to S$338.1 million, compared with S$152.5 million in H1 2025. Hotel operations turned around to a pre-tax profit of S$42 million, from a loss of S$84.4 million the year before. Segment revenue rose 6.4 per cent to S$781.3 million, lifted by global revenue per available room growth of 4.9 per cent to S$161.90, as well as contributions from the newly acquired Holiday Inn hotel in London. The turnaround was also aided by net exchange gains from the appreciation of the Singapore dollar. Investment properties revenue rose 3.2 per cent to S$257.1 million. However, pre-tax profit for the segment fell 62.6 per cent to S$28.4 million from S$75.9 million, due to lower capital recycling gains and the absence of contributions from divested assets. Net finance costs dropped 46.6 per cent to S$144.5 million, compared with S$270.4 million in H1 2025. This was aided by S$37.9 million in net exchange gains &ndash reversing a net exchange loss of S$63.1 million in the year-ago period &ndash alongside lower interest expenses. CDL maintained a capital position of S$2 billion in cash, with total cash and undrawn committed credit facilities reaching S$4.9 billion. Net gearing after factoring in fair value on investment properties rose to 75 per cent as at Jun 30, up from 71 per cent as at Dec 31, 2025. The increase was mainly due to land acquisitions for two government land sales sites at Tanjong Rhu Road and Peck Hay Road. Average borrowing costs decreased to 3.4 per cent from 3.7 per cent in FY2025, following interest rate cuts across key markets. Net asset value (NAV) per share stood at S$10.74 as at Jun 30. Revalued NAV per share &ndash incorporating fair value gains on investment properties and hotel revaluation surpluses &ndash was S$20.09. CDL plans to launch the 570-unit Lucerne Grand on Lakeside Drive in October, followed by two EC projects in early 2027: the 430-unit Wynwood Grand at Woodlands Drive 17 and the 300-unit Solano Grand at Senja Close. Group CEO Sherman Kwek said: &ldquo Our priorities remain focused on strengthening portfolio quality, enhancing earnings visibility and pursuing capital recycling initiatives.&rdquo CDL added that the outcome of its strategic review exercise remains on track to be announced by end-September. Shares of the company ended Wednesday 0.5 per cent or S$0.04 higher at S$7.86. |
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huattuatua
Elite |
13-Aug-2026 09:29
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all switch out from UOL and pile into this, LOL | ||||
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MrBear12
Supreme |
13-Aug-2026 07:38
Yells: "Cast all our anxieties on Jesus for He cares for us" |
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tripling patmiand interim div of 6 cents ... Trade with CDL | ||||
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tongphlp
Supreme |
02-Jul-2026 07:24
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pretty obvious....take these analysts' TP with a pinch of salt. I dare say that DBS will hit $100, one day. Question is when. No one knows. Maybe to set new KPI for analyst. Other than TP, also lock in a period or date and see how accurate or spot on they are.
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tongphlp
Supreme |
17-Jun-2026 16:23
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so they can sell their shares?
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Joelton
Supreme |
17-Jun-2026 16:10
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JPM reiterates overweight call on CDL GS says market underappreciates ROE uplift for asset-lighter models JP Morgan issued an update on City Developments (CDL) on June 16, reiterating its overweight call with a 12-month price target of $10.45. The report points out that since Kwek Leng Peck was appointed as vice chairman of CDL, the share price has rallied 10.1% compared to a 1.6% gain in the Straits Times Index. &ldquo Kwek Leng Peck&rsquo s return signals strong Kwek family support for CEO Sherman Kwek and management&rsquo s plans to execute CDL&rsquo s strategic review while improving operating performance and capital allocation,&rdquo the JP Morgan report says. The recent win by an 80:20 JV between CDL and Hong Realty for the Newton GLS site signals greater alignment between CDL' s management and the broader Hong Leong Group the report indicates. &ldquo This marks CDL&rsquo s first successful land bid with the Hong Leong Group in seven years since the 2019 Sims Drive GLS site, which became the Penrose project. CDL had also collaborated with Hong Leong Group in a 2022 Dunman Road GLS bid where the JV placed the second highest bid,&rdquo the June 16 report says. In addition, CDL&rsquo s maiden share performance plan with a multi-year vesting, a six-year clawback and share-based non-executive director remuneration further strengthens shareholder alignment. JP Morgan says its overweight rating is &ldquo underpinned by firmer family support for management' s plans to improve operating performance and narrow the large discount to book via non-core sales, with detailed plans expected in the strategic review to be revealed in 3Q2026&rdquo . Elsewhere, Goldman Sachs points out that the market underappreciates the 100-200 basis points (bps) ROE uplift potential over the next three years for CapitaLand Investment (CLI), Keppel, and Hongkong Land (HKL) as they pivot toward fee-based, asset-light fund management models. &ldquo Drawing on Brookfield&rsquo s historical playbook, we expect the focus to shift from NAV-based to earnings-based valuations as fee-related earnings grow, potentially driving a 20-60% expansion in price-to-book multiples. We are Buy rated on all three names, with 12-month target prices of $13.10 for Keppel, $3.27 for CLI, and US$11.20 for HKL, driven by distinct catalysts including infrastructure exposure, capital recycling, and the Hong Kong office upcycle,&rdquo Goldman Sachs says. |
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Joelton
Supreme |
03-Jun-2026 12:49
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RHB maintains ' buy' and $11.20 target price on CDL ahead of strategic review Vijay Natarajan is staying positive on City Developments, ahead of its strategic review expected by the third quarter this year. " We expect greater clarity on assets identified of around $5 billion and timeline for capital recycling, key investment pillars and capital allocation strategies to enhance its flagging ROE," says the RHB Bank Singapore analyst in his June 2 note. " The focused execution of value-unlocking plans remains a key catalyst in narrowing its huge trading discount to RNAV. This is augmented by the recent strengthening of its Board and resilient Singapore market, where it has a dominant presence," says Natarajan, who is keeping his " buy" call and $11.20 target price. According to Natarajan, key assets recently outlined for divestment by CDL include its legacy UK development platform, which is valued at around $800 million. The company has plans to " value unlock" its global living sector portfolio, worth some $4 billion, via potential injection into a private fund, along with likely changes to its hospitality portfolio. " While recent interest rate volatility could impact the execution timeline, a clearer articulation of asset light strategy and identification of core/non-core assets is a key rerating catalyst," says Natarajan. Last month, Kwek Leng Peck, who left the board back in 2020 following disagreements over the company' s China strategy, recently rejoined the board at the elevated role of vice chairman. Leng Peck is the cousin of CDL' s executive chairman Kwek Leng Beng, and uncle of group CEO Sherman Kwek. " We believe his reappointment will strengthen the Board&rsquo s rigour and lead to more robust deliberations over the group&rsquo s divestment and investment strategy, just as CDL embarks on value unlocking plans," says Natarajan. Meanwhile, the analyst notes that the Singapore residential market remains healthy with CDL&rsquo s projects not impacted from recent policy changes targeting executive condominiums that will take effect only for upcoming land tenders. CDL has two EC projects in the launch pipeline and Natarajan expects strong demand as buyers rush in before tighter policy restrictions. Meanwhile, the high-end Newport Residences launched in January saw a stronger-than-expected take-up with around 80% of 246 units sold year to date at an average of $3,200 psf. While FY2026 residential sales value is likely to be lower y-o-y, due to fewer launches, income contribution is expected to be on par from progressive revenue recognition of earlier sold projects, says Natarajan. CDL shares closed at $8.44 on June 2, down 1.63% for the day and up 5.24% year to date. |
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JurongW
Elite |
01-Jun-2026 02:16
Yells: "Earnings give weight, Chart give wings" |
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Falling wedge pattern on the daily chart
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JurongW
Elite |
01-Jun-2026 01:39
Yells: "Earnings give weight, Chart give wings" |
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When it goes past $14, otw to $15!
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MrBear12
Supreme |
31-May-2026 21:35
Yells: "Cast all our anxieties on Jesus for He cares for us" |
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way to go, then 15
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JurongW
Elite |
31-May-2026 17:24
Yells: "Earnings give weight, Chart give wings" |
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JurongW
Elite |
31-May-2026 17:19
Yells: "Earnings give weight, Chart give wings" |
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JurongW
Elite |
31-May-2026 17:12
Yells: "Earnings give weight, Chart give wings" |
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Updated as of Fri 29 May.
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JurongW
Elite |
25-May-2026 17:13
Yells: "Earnings give weight, Chart give wings" |
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Finally close above 50 EMA today. Share price is now trading above short term, mid term and long term MAs. Back to uptrend. 
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tongphlp
Supreme |
21-May-2026 19:00
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Bad...
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Joelton
Supreme |
21-May-2026 10:06
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CDL&rsquo s Singapore property sales fall to S$609.6 million in Q1, global hotel RevPAR rises 4.3% For the three months ended Mar 31, the group and its joint venture associates sold 242 units [SINGAPORE] City Developments Ltd (CDL) posted a decline in its first-quarter Singapore property sales, while its global hotel operations recorded higher revenue per available room (RevPAR). For the three months ended Mar 31, the group and its joint venture associates sold 242 units with a total sales value of S$609.6 million. This was down from the year-ago period&rsquo s 795 units with S$1.9 billion in sales value. The sales were driven mainly by the launch of its 246-unit freehold Newport Residences in January, the developer said in an operational update on Wednesday (May 20). It noted that in contrast, its Q1 2025 showing benefited from the launch of the larger 777-unit The Orie. Newport Residences recorded an average selling price of about S$3,200 per square foot. To date, it has sold 192 or 78 per cent of the units. In February, CDL clinched a government land sales parcel at Tanjong Rhu Road in a joint venture for S$709.3 million, or S$1,455 per square foot per plot ratio. The group&rsquo s hotel operations recorded a 4.3 per cent increase in global RevPAR to S$144.80 for the latest quarter, from S$138.80 the year before. This was on the back of RevPAR growth in Australasia (17.7 per cent), Singapore (7.5 per cent), Europe (4.7 per cent) and New York (4 per cent), it said. As at Mar 31, CDL&rsquo s net gearing ratio stood at 72 per cent, factoring in the fair value of investment properties and the Tanjong Rhu acquisition. Its interest cover stood at 2.7 times. It maintained " strong&rdquo cash reserves of S$2.1 billion, supported by S$4.3 billion in cash and undrawn committed credit facilities. &ldquo The group remains resilient amid ongoing geopolitical uncertainties, such as conflict in the Middle East, evolving trade policies, inflationary pressures, and energy costs,&rdquo CDL noted. &ldquo While global macroeconomic headwinds may lead to cautious sentiment, the group&rsquo s diversified portfolio remains healthy and stable.&rdquo Shares of CDL : C09 -1.82% closed 1.8 per cent or S$0.15 lower at S$8.07 on Wednesday, before the update. |
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JurongW
Elite |
20-May-2026 20:45
Yells: "Earnings give weight, Chart give wings" |
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Can it go above 50EMA tomorrow? Whether breakout from trendline resistance, 50 EMA or fall back into the triangle - we' ll find out tomorrow.
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