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CityDev
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ETLee8
Master |
07-Mar-2022 11:04
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$6 coming soon as the Russia-Ukraine war not settled. Quite exposed in UK & Europe ???? Cash is King DYODD
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ETLee8
Master |
04-Mar-2022 19:10
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No choice, during this period there are not many buyers (all waiting to get it cheaper) and cash is king. With the Ukraine war more uncertainties surfaced. If Europe crashed with Russia, can not imagine ???? This is better than bank defaults. Can never imagine it happen in SG ???, H a Ha Ha
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pasttime
Supreme |
04-Mar-2022 17:12
Yells: "gold silver are real money. not others iou." |
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tong tong maket close. bear win this round riding on the fear of ukraine war. potential nuclear misfire at the nuclear power plant. the bull got f.. and a young bull is forming. |
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cloudy.mountain
Member |
04-Mar-2022 00:17
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Not to forget. This is a large site situated in Orchard that is FREEHOLD. how often does that kind of property come into the market?
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pasttime
Supreme |
03-Mar-2022 18:53
Yells: "gold silver are real money. not others iou." |
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western australia interstate hard borders lift today. now both international and interstate travel to wa is possible. before covid-19 there are between 15-16m passengers passing thru perth airport. occupancy at hotels grow and grow. |
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Jiyaji
Senior |
03-Mar-2022 13:13
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IMHO - not always the case that the price rise for a location will continue exponentially as before. If the upside is 10% in Orchard area versus a ' developing' area 25% in e.g. Paya Lebar - the choice would be the latter. Orchard will maintain its exclusivity. But how much upside from here? However, look no further than Cecil St/Robinson area versus when MBS was launched... |
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finjungle
Veteran |
03-Mar-2022 11:22
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Such excellent perpesctives of CDL. No one in the right financila position would let go of properties on ir near Orchard Road.
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ETLee8
Master |
03-Mar-2022 11:07
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When its cash on hand dropped from $3.4B to $2.0B is clear indication that CDL needs cash urgently. This year their bank loans due is more than $4.2B. When co divest at this time when market is in turmoil is another clear indication of cash stretched. U are right, such an excellent location in Orchard Tanglin giving up is strange. The FY2021 result is disappointing and it will take years to recover the loss in FY2020. DYODD
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Joelton
Supreme |
03-Mar-2022 09:13
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CDL commits undisclosed investment sum to Sydney' s Taronga Ventures
CITY Developments Limited (CDL) CityDev: C09 -0.98% has committed an undisclosed sum of investment to venture capital firm Taronga Ventures for its Asian built environment technology fund, RealTech Ventures Fund.
Taronga Ventures has offices in both Singapore and Australia.
RealTech Ventures Fund has portfolio investments in global emerging technology companies impacting the built environment.
Other investors in the most recent close of the fund include Prudential' s PGIM Real Estate, Canadian real estate company Ivanhoé Cambridge and Dutch pension investor APG.
In its press statement on Wednesday (Mar 2), Taronga Ventures said its partnership with CDL marks the developer' s latest initiative under its innovation investment strategy which entails identifying, investing and scaling technologies and innovative solutions that can value add to its core real estate portfolio.
The firm said CDL has identified technology solutions in the fund' s portfolio which have application across its residential, commercial and hotel asset portfolio. CDL has also embarked on feasibility assessments for the integration of these solutions.
Implementation of such sustainability-focused innovations will also support CDL' s commitment to achieve its goal of net-zero operational carbon by 2030 for new and wholly-owned assets and developments under its direct operational and management control, added Taronga Ventures.
Sherman Kwek, group chief executive of CDL, sees access to emerging technology becoming a key differentiator given a " dynamic shift" within the real estate sector.
" CDL' s investment in Taronga Ventures allows us to partner the market' s best in class to drive product and process innovation. We can leverage their expertise to glean market insights into the future of real estate and gain access to emerging technologies that can be applied across our diversified real estate portfolio," said Kwek.
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cloudy.mountain
Member |
03-Mar-2022 01:22
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wondering if anyone listened in to the analyst briefing conducted by CDL? seems like the Chairman was hinting at relooking CDL' s strategy as he lamented about how the Company' s share price had languished between $6.xx to $7.xx range. i haven' t had a chance to look at financials but the outcome for Tanglin left me with mixed feelings. CDL' s low cost base for it' s 30+% stake should have put it in better position to take the site and amalgamate it with St. Regis site. The Tanglin site is huge and overlooks low rise area (very suitable to build an enlarged St. Regis to rival Shangri-La or a new mixed development with residentials that enjoy solid views in Orchard). Wonder why they decided to go down the route of being bought out... Not complaining though cause i think the purchase price at $2,600+ is ridiculously high. Also wondering if all that cash will be reinvested or be used to cover up the debt arising from Sincere. Any thoughts? |
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pasttime
Supreme |
02-Mar-2022 21:49
Yells: "gold silver are real money. not others iou." |
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bro etlee, good evening. think today drop,in real estate stock are more related to the ukraine war and sanctions.escalating oil prices. it is a sell first talk later scenario. bulls watching what happens first. only those stock with main support managed to be steady or up a bit. next few days will continue to be choppy. when things settle the up turn can be fast. first sign of russia/ ukraine peace agreement will ignite a rally. but not so soon as the conditions to unarm is not acceptable to any country unless already unarm by people. first sign of iran nuclear agreement allowing more oil into market will also cause a rally. also not likely as iran ask us to guarantee no withdrawal of agreement and us said cannot tell future president what not o do. looks like got some time to gyrate. these are time for those agile to trade and make money. slow pepple like me, i follow warren advice. invest in good stock during a war. as war will end. business will continue to grow money no matter what happens to the foreign war. expensive oil etc means higher cost. just past it on. sell product at higher price. is that not what one see in this inflation market. inflation is good for property. |
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ETLee8
Master |
02-Mar-2022 17:53
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No post also dropped!!!! When co divest, it means cashflows issues need to pay off debts, otherwise should sell on better days for better price. Still waiting patiently at $6, Ha Ha Ha Ha
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pasttime
Supreme |
28-Feb-2022 18:56
Yells: "gold silver are real money. not others iou." |
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wa bro, you said like that win already lor. if i have a unit in tanglin mall i will be f.. happy. but lucky indirectly thru city dev also ok. one can ask for a price an ideal price in one mind. but one can only take what the market is willing to pay. at least recycling of asset with cash has happen. later to new unvalue asset for future opportinities. like that the cash asset cash cycle keep turning and profit keep appearing can already. congratulations all all invested. those skeptical can continue to watch while you watch the price improve with time.
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Tigerzbeer
Member |
28-Feb-2022 18:36
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https://www.businesstimes.com.sg/companies-markets/brokers-take-cdl-set-for-turnaround-through-portfolio-optimisation-say-analysts | ||||
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pasttime
Supreme |
28-Feb-2022 13:23
Yells: "gold silver are real money. not others iou." |
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institutions continues collecting last $7.2m purchase. so far for instutions net collected for many weeks totel collected $58.55m retailers buy/sell buy/sell net sold $43.26m so one can see where the shares are changing hands. buyers must be able to hold. investors must respect money pushing down price. traders must be agile. hope all can make money. both long and short. dyodd |
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ETLee8
Master |
28-Feb-2022 11:47
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This is the 4th time they are looking for a buyer. It means quite desperate to divest out. Having said that, due to their last announcement, investment asset gains from certain sector against cost may be given to CDLHT going forward. This may not benefit CDL sharehoders going forward
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pasttime
Supreme |
27-Feb-2022 10:03
Yells: "gold silver are real money. not others iou." |
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it was reported that tanglin mall enbloc sale invited 5 bids with highest bid $868m 10% above reserve price. citydev has 34% stake in this development with 85 strata-titled lots. $$$ comming in again. wonder what is their profit for this recycling of long term investment. the buyer Pacific Eagle Real Estate, own by Tanoto Family. a very prudent buy considering that it is freehold in prime location. looks like indonesia richy is still interested in singapore property. |
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pasttime
Supreme |
25-Feb-2022 17:15
Yells: "gold silver are real money. not others iou." |
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r u even following real estate market of china? guang dong, hong kong, macau greater bay area is a china desinated growth area. will boom in time. these view are conservative as market recover things will be better. 龙 岗 区 ， 隶 属 广 东 省 深 圳 市 . 一 级 城 市 good luck. dyodd |
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ETLee8
Master |
25-Feb-2022 15:56
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Bro Pastime, I extract this paragragh from CDL' s Interim Financial Report. In fact for 2021, there is a loss for Development properties. 15. Development properties The increase in development properties for the Group for the year ended 31 December 2021 is mainly due to the acquisition of an 84.6% equity interest in Shenzhen Tusincere Technology Park Development Co. Ltd., which accorded the Group an effective 55% equity interest in Shenzhen Longgang Tusincere Tech Park (refer to note 24). The Group accounts for its development properties at the lower of cost or net realisable value. Net realisable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and selling expenses. Allowance for foreseeable losses is determined by the management after taking into account estimated selling prices and estimated total construction costs. The estimated selling prices are based on recent selling prices for the development project or comparable projects and prevailing property market conditions. The estimated total construction costs are based on contracted amounts and, in respect of amounts not contracted for, management&rsquo s estimates of the amounts to be incurred taking into consideration historical trends of the amounts incurred. Based on its assessment, the Group recognised an allowance for foreseeable loss of $5,641,000 (FY 2020: $35,014,000) during the year ended 31 December 2021.
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ETLee8
Master |
25-Feb-2022 15:47
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Bro, how u interpret this ?, Good for CDL shareholders or CDLHT shareholders ?? Important Notes on Proposed Distribution, Capital Position and Net Asset Value &bull The Proposed Distribution is yet another positive outcome of the Group&rsquo s holistic review of its hotel operations segment, following its privatisation of Millennium & Copthorne Hotels Limited (M& C) in November 2019. It reflects the Group&rsquo s commitment towards capital recycling to enhance efficiency and maximise shareholder value. The Proposed Distribution would result in an accounting deconsolidation of CDLHT from the Group, allowing the Group the potential to book gains on any future sale of assets from the Group to CDLHT should the transaction value exceed the carrying book value of the assets. &bull Following the accounting deconsolidation of CDLHT, the Group is expected to recognise an estimated gain of approximately S$467.5 million on a pro forma basis. The Group&rsquo s net gearing (including fair value of investment properties) would also be expected to improve from 61% to 55% on a pro forma basis. The Group remains fully committed as a sponsor of CDLHT and will continue to be its largest unitholder with an interest of approximately 27% following the Proposed Distribution.
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