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Latest Forum Topics / CityDev    Last:8.23    -0.04  Post Reply
CityDev
pasttime
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01-Jan-2022 23:00     
 
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Yells: "gold silver are real money. not others iou."
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 Alert Admin 		sin city developers are more like land bankers then develop at opportunity time.
high churn chinese developers are more like manufacturing. quick buy land, quick build, quick sell. quick borrow money, borrow and borrow even if interest rate no make sense, then finally hit the block after chinese gov draw 3 red line. things are changing as they realised that measure may be too tough.
chinese local governments has started not to use land sale as part of their normal spending. 
the change means down the road, there will be shortage of new build.
not all chinese developers are high churn type. some state own one like.china oversea are doing well.
basically developers has to adjust to more like build, hold, rent type of model. how to hold will be the challenge. they are also starting to emphazie on reits. starting with infra related type. 

uiop1223      ( Date: 01-Jan-2022 13:15) Posted:

Crazy.. china developers all crying. What makes CDL think they can do better than native chinese

tongphlp      ( Date: 01-Jan-2022 09:45) Posted:

In yesterday' s ST' s article, various heads of Singapore companies were asked to share on their company' s goals. CDL shared that CHINA is still one of the places where CDL will invest in...Lost so much where got happy one...they are bent on claiming back what they have lost lah...

With government raising GST, sales of properties would take a hit....don' t look good coupled with cooling measures, inflation, rising costs of constructio and labour as well as Covid...
 
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tongphlp
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01-Jan-2022 17:14     
 
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 Alert Admin 		Journalists can be very good graphic artists or cartoonists too :)

cloudy.mountain      ( Date: 01-Jan-2022 13:02) Posted:

this graphic from zaobao very cute

tongphlp      ( Date: 01-Jan-2022 09:51) Posted:



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tongphlp
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01-Jan-2022 16:14     
 
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 Alert Admin 		Singapore is too small a market to develop...has to look abroad..

uiop1223      ( Date: 01-Jan-2022 13:15) Posted:

Crazy.. china developers all crying. What makes CDL think they can do better than native chinese

tongphlp      ( Date: 01-Jan-2022 09:45) Posted:

In yesterday' s ST' s article, various heads of Singapore companies were asked to share on their company' s goals. CDL shared that CHINA is still one of the places where CDL will invest in...Lost so much where got happy one...they are bent on claiming back what they have lost lah...

With government raising GST, sales of properties would take a hit....don' t look good coupled with cooling measures, inflation, rising costs of constructio and labour as well as Covid...
 
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uiop1223
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01-Jan-2022 13:15     
 
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 Alert Admin 		Crazy.. china developers all crying. What makes CDL think they can do better than native chinese

tongphlp      ( Date: 01-Jan-2022 09:45) Posted:

In yesterday' s ST' s article, various heads of Singapore companies were asked to share on their company' s goals. CDL shared that CHINA is still one of the places where CDL will invest in...Lost so much where got happy one...they are bent on claiming back what they have lost lah...

With government raising GST, sales of properties would take a hit....don' t look good coupled with cooling measures, inflation, rising costs of constructio and labour as well as Covid...
 

cloudy.mountain      ( Date: 31-Dec-2021 22:01) Posted:

i don' t expect them to be active in China for a while given how the previous deal blew up and cost the entire board (barring family members) their seats
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cloudy.mountain
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01-Jan-2022 13:02     
 
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 Alert Admin 		this graphic from zaobao very cute

tongphlp      ( Date: 01-Jan-2022 09:51) Posted:


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tongphlp
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01-Jan-2022 09:51     
 
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tongphlp
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01-Jan-2022 09:45     
 
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 Alert Admin 		In yesterday' s ST' s article, various heads of Singapore companies were asked to share on their company' s goals. CDL shared that CHINA is still one of the places where CDL will invest in...Lost so much where got happy one...they are bent on claiming back what they have lost lah...

With government raising GST, sales of properties would take a hit....don' t look good coupled with cooling measures, inflation, rising costs of constructio and labour as well as Covid...
 

cloudy.mountain      ( Date: 31-Dec-2021 22:01) Posted:

i don' t expect them to be active in China for a while given how the previous deal blew up and cost the entire board (barring family members) their seats.

tongphlp      ( Date: 30-Dec-2021 16:13) Posted:

ah Lee, what do you reckon of this? how come good lobang CDL no jeep in and joint venture?
 

Deals, joint ventures & alliances

CapitaLand Development, Mitsubishi Estate to develop RMB1.5 bil business park in China&rsquo s Suzhou New District

Atiqah Mokhtar  Published on Thu, Dec 30, 2021 / 8:48 AM GMT+8 / Updated 7 hours ago
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cloudy.mountain
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31-Dec-2021 22:01     
 
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 Alert Admin 		i don' t expect them to be active in China for a while given how the previous deal blew up and cost the entire board (barring family members) their seats.

tongphlp      ( Date: 30-Dec-2021 16:13) Posted:

ah Lee, what do you reckon of this? how come good lobang CDL no jeep in and joint venture?
 

Deals, joint ventures & alliances

CapitaLand Development, Mitsubishi Estate to develop RMB1.5 bil business park in China&rsquo s Suzhou New District

Atiqah Mokhtar  Published on Thu, Dec 30, 2021 / 8:48 AM GMT+8 / Updated 7 hours ago


ETLee8      ( Date: 28-Dec-2021 13:57) Posted:

It is very obvious that CDL is financially stretched.  Over the last few years, u will noticed that all their property development projects are on a 50-50% joint venture.
In safe SG, risk is very minimal, why not take all and earn more ???   
There are also many advanced announcements such as divestment, redevelopment, listing of REITs, ..etc  when is it happening ? 3 to 5 years down the road ???
It has to pay up $3.6B of unsecured loans within this year and with their $2.5B cash on hand, it is insufficient
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tongphlp
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31-Dec-2021 05:35     
 
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 Alert Admin 		nice bro! Did you get a hole-in-1? :)

ETLee8      ( Date: 30-Dec-2021 22:52) Posted:

Sorry Tong, today is golfing day lah.   
Anyway, how to invest when already water rising to the neck, no more money to invest lah.  Need to sell off more hotels, but now nobody want to buy leh.  Ang Mo very smart, time is bad they run themselves.
Covid, hotel business still jialat jialat.  Wait wait ..  will come back

tongphlp      ( Date: 30-Dec-2021 16:13) Posted:

ah Lee, what do you reckon of this? how come good lobang CDL no jeep in and joint venture?
 

Deals, joint ventures & alliances

CapitaLand Development, Mitsubishi Estate to develop RMB1.5 bil business park in China&rsquo s Suzhou New District

Atiqah Mokhtar  Published on Thu, Dec 30, 2021 / 8:48 AM GMT+8 / Updated 7 hours ago
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ETLee8
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30-Dec-2021 22:52     
 
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 Alert Admin 		Sorry Tong, today is golfing day lah.   
Anyway, how to invest when already water rising to the neck, no more money to invest lah.  Need to sell off more hotels, but now nobody want to buy leh.  Ang Mo very smart, time is bad they run themselves.
Covid, hotel business still jialat jialat.  Wait wait ..  will come back

tongphlp      ( Date: 30-Dec-2021 16:13) Posted:

ah Lee, what do you reckon of this? how come good lobang CDL no jeep in and joint venture?
 

Deals, joint ventures & alliances

CapitaLand Development, Mitsubishi Estate to develop RMB1.5 bil business park in China&rsquo s Suzhou New District

Atiqah Mokhtar  Published on Thu, Dec 30, 2021 / 8:48 AM GMT+8 / Updated 7 hours ago


ETLee8      ( Date: 28-Dec-2021 13:57) Posted:

It is very obvious that CDL is financially stretched.  Over the last few years, u will noticed that all their property development projects are on a 50-50% joint venture.
In safe SG, risk is very minimal, why not take all and earn more ???   
There are also many advanced announcements such as divestment, redevelopment, listing of REITs, ..etc  when is it happening ? 3 to 5 years down the road ???
It has to pay up $3.6B of unsecured loans within this year and with their $2.5B cash on hand, it is insufficient
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tongphlp
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30-Dec-2021 16:13     
 
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 Alert Admin 		ah Lee, what do you reckon of this? how come good lobang CDL no jeep in and joint venture?
 

Deals, joint ventures & alliances

CapitaLand Development, Mitsubishi Estate to develop RMB1.5 bil business park in China&rsquo s Suzhou New District

Atiqah Mokhtar  Published on Thu, Dec 30, 2021 / 8:48 AM GMT+8 / Updated 7 hours ago


ETLee8      ( Date: 28-Dec-2021 13:57) Posted:

It is very obvious that CDL is financially stretched.  Over the last few years, u will noticed that all their property development projects are on a 50-50% joint venture.
In safe SG, risk is very minimal, why not take all and earn more ???   
There are also many advanced announcements such as divestment, redevelopment, listing of REITs, ..etc  when is it happening ? 3 to 5 years down the road ???
It has to pay up $3.6B of unsecured loans within this year and with their $2.5B cash on hand, it is insufficient.

pasttime      ( Date: 28-Dec-2021 13:34) Posted:

cloudy.mountain, greetings.
it is true that redevelopmetn cost more then new build. however no businessman will redevelop if there is no profit. in the case of fuji xerox and central mall there are plot ratio to be gain after redevelopment. that is substaintial profit for redevelopment.  yes land is always a problem for developer. no land nothing to talk about development. so one see established developer try to build recurring income in other ways. like rental property, hotel, office, reak estate management. 
in he near future, increased government land sale will provide some opportunities. overseas we saw increased land bank in nz etc. so naturally debt is increased. but some people think high debt is  bad. so i think how to do land banking with very low or little cost. ----? reits, buy freehold sell as 99 years, etc the people in the trade are all cracking their head. land being in limited supply will always go up in price especially those in prime location
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tongphlp
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30-Dec-2021 16:03     
 
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 Alert Admin

China Evergrande shares fall after missing new coupon payments

 
By  Yu Xie  and  Clare Jim

https://www.reuters.com/world/china/china-evergrande-shares-fall-after-report-missed-coupon-payment-2021-12-30/
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tongphlp
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30-Dec-2021 13:07     
 
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 Alert Admin 		new Chairman = up $6 ::))

tongphlp      ( Date: 29-Dec-2021 07:26) Posted:

hmm...new COO, up 6c.....new CEO maybe up 60c! :)

PhillipTan      ( Date: 28-Dec-2021 19:43) Posted:

CDL appoints new group COO, announces changes to board

Property developer City Developments Ltd (CDL) announced that it has appointed its current group chief strategy officer Kwek Eik Sheng to be the group' s chief operating officer (COO) from Jan 1, 2022.

CDL also announced that Philip Yeo Liat Kok will be redesignated as a non-independent director from Jan 1, 2022, having served more than 9 years on the board.

Yeo will also cease to be chairman and member of the nominating committee as well as member of the board sustainability committee (BSC). Ong Lian Jin Colin will take over as chairman of the nominating committee, while Chong Yoon Chou will be appointed as a member of the BSC.

While Yeo had expressed his intention to step down from the board, the company' s nominating committee recommended that he remain to maintain a balance of experienced and new independent directors (IDs) on the board.

Furthermore, CDL announced Baker McKenzie.Wong & Leow lawyer Wong Ai Ai' s appointment as an independent director on the board. The company noted that she has led a range of landmark transactions for blue-chip clients and led Baker McKenzie as chair of the Asia-Pacific region as well as a member of its global executive committee.

Wong is also a board member of the Singapore Tourism Board and a founding steering committee member of Climate Governance Singapore Limited, a World Economic Forum led initiative to educate non-executive directors on the impact of climate change.

CDL shares closed up 0.9 per cent or S$0.06 at S$6.78 on Tuesday (Dec 28), before the announcements were made.

 


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tongphlp
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30-Dec-2021 13:05     
 
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 Alert Admin 		all is quiet....on or off? Is this like Wilmar' s Adani IPO? say say only....

tongphlp      ( Date: 21-Dec-2021 11:38) Posted:

Been six months...
CDL Applies For S$940mil S-REIT Flotation That Could Include HSBC&rsquo s London HQ

  Office Finder Team
  June 4, 2021


SINGAPORE  &ndash Local developer City Developments Limited (CDL) has authenticated a Bloomberg report on Thursday afternoon that it has made an application for an initial public offering (IPO) for a Singapore-listed real estate investment trust (S-REIT), according to local bourse filings on Friday morning (4 June, SGT). https://officefinder.com.sg/cdl-applies-for-s940mil-s-reit-flotation-that-could-include-hsbcs-london-hq/

tongphlp      ( Date: 21-Dec-2021 11:31) Posted:

anyone knows or hear any updates on this?............
 

City Developments files for Singapore REIT IPO of UK assets

CONTRIBUTOR
Aradhana Aravindan    Reuters
 
PUBLISHED
JUN 3, 2021 10:17PM EDT
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tongphlp
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30-Dec-2021 12:39     
 
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 Alert Admin 		CEO not to be replaced as his KPI met...well, almost every household in China now knows CDL is the richest company in Sinkapore to have set foot in China and have lost almost S$2b...:) Now, who could have beaten that record...

Following its acquisition of Sincere Property Group, its Chinese team members have grown in size from 150 people to over a thousand. &ldquo Working with Sincere, we plan to overcome challenges and strengthen platforms for future growth,&rdquo says Mr Kwek. &ldquo One day, I hope to realise the dream of turning CDL into a household name in China.&rdquo

Joelton      ( Date: 29-Dec-2021 09:04) Posted:

CDL appoints new group COO, announces changes to board
PROPERTY developer City Developments Ltd (CDL) CityDev: C09 +0.89% announced that it has appointed its current group chief strategy officer Kwek Eik Sheng to be the group' s chief operating officer (COO) from Jan 1, 2022.
 
CDL also announced that Philip Yeo Liat Kok will be redesignated as a non-independent director from Jan 1, 2022, having served more than 9 years on the board.
 
Yeo will also cease to be chairman and member of the nominating committee as well as member of the board sustainability committee (BSC). Ong Lian Jin Colin will take over as chairman of the nominating committee, while Chong Yoon Chou will be appointed as a member of the BSC.
 
While Yeo had expressed his intention to step down from the board, the company' s nominating committee recommended that he remain to maintain a balance of experienced and new independent directors (IDs) on the board.
 
Furthermore, CDL announced Baker McKenzie.Wong & Leow lawyer Wong Ai Ai' s appointment as an independent director on the board. The company noted that she has led a range of landmark transactions for blue-chip clients and led Baker McKenzie as chair of the Asia-Pacific region as well as a member of its global executive committee.
 
Wong is also a board member of the Singapore Tourism Board and a founding steering committee member of Climate Governance Singapore Limited, a World Economic Forum led initiative to educate non-executive directors on the impact of climate change.
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tongphlp
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30-Dec-2021 12:29     
 
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Evergrande debt deadline passes with ' no sign of payment' : report



Chinese developer faces new risk to restructuring and housing construction
https://asia.nikkei.com/Business/Markets/China-debt-crunch/Evergrande-debt-deadline-passes-with-no-sign-of-payment-report
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tongphlp
Supreme
30-Dec-2021 10:33     
 
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 Alert Admin 		who ah?

DJ Futures heading down...run..

ETLee8      ( Date: 30-Dec-2021 10:23) Posted:

Contrary to many rosy stories, this was reported by one of the better known developers

In FY2021, the Group&rsquo s construction business continued to face challenges presented by the COVID19 pandemic such as manpower shortages, intermittent work stoppages, disruptions in the global supply chain, fluctuations in prices of raw materials and increased operating costs. Consequently, the handover dates for some of the Group&rsquo s projects have been extended. 

ETLee8      ( Date: 30-Dec-2021 10:13) Posted:

SG property :  Expect a correction of 3 to 8% or at worse a dip of 14 to 16% within the next 2 quarters.
Hope it is the latter as the deeper the dip, the better is the Bounce.
As it is Retailers will be stuck if it is trading range bound.
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ETLee8
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30-Dec-2021 10:23     
 
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 Alert Admin 		Contrary to many rosy stories, this was reported by one of the better known developers

In FY2021, the Group&rsquo s construction business continued to face challenges presented by the COVID19 pandemic such as manpower shortages, intermittent work stoppages, disruptions in the global supply chain, fluctuations in prices of raw materials and increased operating costs. Consequently, the handover dates for some of the Group&rsquo s projects have been extended. 

ETLee8      ( Date: 30-Dec-2021 10:13) Posted:

SG property :  Expect a correction of 3 to 8% or at worse a dip of 14 to 16% within the next 2 quarters.
Hope it is the latter as the deeper the dip, the better is the Bounce.
As it is Retailers will be stuck if it is trading range bound.
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ETLee8
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30-Dec-2021 10:13     
 
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 Alert Admin 		SG property :  Expect a correction of 3 to 8% or at worse a dip of 14 to 16% within the next 2 quarters.
Hope it is the latter as the deeper the dip, the better is the Bounce.
As it is Retailers will be stuck if it is trading range bound.
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tongphlp
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30-Dec-2021 07:28     
 
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tongphlp      ( Date: 29-Dec-2021 20:36) Posted:

that explains the institutional selling over the last weeks....of course, retailers are always the last to know...and got stuck..

ETLee8      ( Date: 29-Dec-2021 16:58) Posted:

The changing of COO, the selling of a key asset, to meet urgent obligations, .. all these are stress points that can not be taken lightly.
Today, volume very low,... all are retail inestors trades, macham cheering for the SG Soccer team in the Suzuki Cup,  Ha H a H
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