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CityDev
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tongphlp
Supreme |
30-Apr-2026 10:31
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put in all yes man
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Joelton
Supreme |
30-Apr-2026 09:50
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CDL strategic review &lsquo timely&rsquo after last year&rsquo s disputes, Sherman Kwek tells shareholders [SINGAPORE] An ongoing strategic review being done by City Developments Ltd (CDL) was &ldquo timely&rdquo after the company went through &ldquo some difficulties&rdquo and internal disputes last year, group chief executive officer Sherman Kwek told a packed shareholders meeting on Wednesday (Apr 29). The property giant is looking to &ldquo revamp&rdquo its strategy and better articulate its value to investors, and has appointed global advisory firm Teneo for the task. At CDL&rsquo s annual general meeting (AGM) on Wednesday, group CEO Sherman Kwek said that the review will be discussed at a board strategy meeting in May, with details expected to be unveiled by end-June. |
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tongphlp
Supreme |
30-Apr-2026 05:48
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cdl lost 2b in china and can survive...not many companies able to do that..
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JurongW
Elite |
30-Apr-2026 02:47
Yells: "Earnings give weight, Chart give wings" |
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Take note that CDL will go XD on Thu 30 April. Share price will adjust downwards by 25 cents. | ||||
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pasttime
Supreme |
29-Apr-2026 22:13
Yells: "gold silver are real money. not others iou." |
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city dev is like a very big carrier. not so easy to go wrong. even with very large mistake they have capacity to survive. uol is already proven handle over to next generations successfully and doing well. both when their 50 level high development and others complete will bring lots of income. |
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moonsun
Veteran |
29-Apr-2026 17:45
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Comparing cdl to uol ? performance of share price is still very laggard. Hope mgt will continue to hunt for new ventures? | ||||
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tongphlp
Supreme |
28-Apr-2026 15:31
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new directors...new ideas....new directions...
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Joelton
Supreme |
28-Apr-2026 11:27
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Citi names top developer picks as mass-market property launches see solid take-up Strong sales momentum in primary residential market &lsquo bodes well&rsquo for CDL and UOL, says brokerage [SINGAPORE] City Developments Ltd (CDL) : C09 -0.47% and UOL Group : U14 -0.94% are the top picks in the real estate sector for Citi Research, as robust weekend sales at two major mass-market launches signal continued strength in the primary residential market. In a research note on Monday (Apr 27), Citi analyst Brandon Lee maintained a &ldquo buy&rdquo rating on both developers, citing a strong year-to-date sales momentum. Across the island, eight projects have had an average initial take-up of around 77 per cent during the period. For CDL, Citi has set a target price of S$11.53, representing a 17 per cent discount to its revalued net asset value (RNAV) of S$13.89 per share. The brokerage&rsquo s key assumptions for CDL through to the 2028 fiscal year include a 1 to 3 per cent annual rise in Singapore residential prices, office capitalisation rates of 3.5 to 4 per cent, and Singapore Grade A rent growth of 4 per cent in 2026, 2 per cent in 2027, and a 3 per cent decline in 2028. For CDL&rsquo s hospitality segment, Citi assumes cap rates of 4.5 to 5.5 per cent and a consistent 3 per cent annual rise in revenue per available room (RevPAR) in the three years. Meanwhile, retail cap rates are estimated at 4.5 to 5 per cent with rent increases of 0.5 to 2 per cent per year. Downside risks that could impede CDL from reaching its target price include a weak take-up at its residential launches, the introduction of additional cooling measures, a sharp economic slowdown, over-expansion in overseas markets, and execution issues in turning around the hospitality platform. UOL Group has a target price of S$12.90, set at a 27 per cent discount to its RNAV of S$17.67 per share. Citi identified several factors that could narrow UOL&rsquo s RNAV discount. These were: a better-than-expected take-up at the upcoming launch at the former Thomson View condominium site in the fourth quarter of 2026, more details regarding the property group&rsquo s redevelopment of Marina Square, and potential asset divestments. For UOL&rsquo s 50.4 per cent stake in Singapore Land Group, Citi estimates RNAV per share based on a similar set of assumptions as for UOL. Key downside risks for UOL include cap-rate expansion as interest rates rise, a sharp economic slowdown leading to weaker office and retail absorption, a fall in tourist arrivals having an impact on RevPAR, and a prolonged period of the existing cooling measures. Strong weekend performance The positive outlook follows a weekend of high activity, where two 99-year leasehold projects saw significant buyer interest. Tengah Garden Residences, an 863-unit development by Hong Leong Holdings, GuocoLand, and CSC Land Group, moved 853 units &ndash roughly 99 per cent of its total inventory. The project achieved an average price of S$2,120 per square foot (psf), which Citi estimates translates to an 18 per cent profit-before-tax margin. Meanwhile, Vela Bay in Bayshore Road, developed by SingHaiyi and Chuan Capital, sold 371 of its 515 units (72 per cent). The average price recorded was S$2,886 psf, reflecting about a 13 per cent profit margin on an estimated break-even of S$2,390 psf. Singaporeans continue to drive the market they accounted for 90 per cent of the purchases over the weekend, noted Citi. &ldquo We attribute the solid take-up to the proximity to MRT stations (Hong Kah and Bayshore, respectively), pent-up demand within the precinct, and soft mortgage rates,&rdquo it added. Citi expects this primary sales momentum to persist, which &ldquo bodes well for our top developer picks&rdquo &ndash CDL and UOL, it said. |
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JurongW
Elite |
23-Apr-2026 14:55
Yells: "Earnings give weight, Chart give wings" |
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Perhaps short-term retracement. Let' s see how share price react to the support line and 20EMA (red)
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ysh2006
Supreme |
23-Apr-2026 14:23
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Yaloh one month downgrade next month upgrade, the changes only thing is their directors resigned new one onboard...so target price go up ? | ||||
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Louistan
Senior |
23-Apr-2026 14:08
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I have stopped taking JPM seriously.
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tongphlp
Supreme |
23-Apr-2026 14:03
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so they have a chance to load up as they missed the boat earlier?
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parcvista
Member |
23-Apr-2026 13:57
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One minute downgrade next minute upgrade so misleading | ||||
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parcvista
Member |
23-Apr-2026 13:56
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Just saw this
JPMorgan upgrades City Development to 'overweight with a price target of S$10.45 InvestingPro | Apr 22, 2026, 18:16 E CTDM -1.14% An analyst from JPMorgan upgraded City Development (SGX: CTDM) from 'neutral' to verweight with a price target of S$10.45 from a prior price target of S$8.70. |
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Louistan
Senior |
23-Apr-2026 13:35
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JPM downgraded CDL and UOL together for similar reasons and it has recently upgraded UOL. Matter of time it upgrades again. DBSV feels the price is already too low and the gap between CDL and UOL in unwarranted and should close up soon.
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ysh2006
Supreme |
23-Apr-2026 13:01
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The report was one month ago, price has come down and broke his down graded target of 8.70, any new support target already....?
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Joelton
Supreme |
23-Apr-2026 11:37
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Three directors linked to CDL boardroom tussle quit hotel unit&rsquo s board The three directors were involved in CDL&rsquo s high-profile boardroom tussle last year [SINGAPORE] Three independent non-executive directors of City Developments Limited (CDL) : C09 -0.57% &ndash who were also involved in last year&rsquo s high-profile boardroom tussle between executive chairman Kwek Leng Beng and his son, group chief executive Sherman Kwek &ndash have resigned from the board of the group&rsquo s hotel arm, Millennium & Copthorne Hotels (M& C). In a bourse filing on Wednesday (Apr 22), CDL said that Jennifer Duong Young, Daniel Marie Ghislain Desbaillets and Wong Ai Ai will step down from the M& C board. In a separate statement, the company said the directors had been appointed to strengthen governance at the key subsidiary. &ldquo With this now largely addressed, they have stepped down to focus on their responsibilities on the CDL board and its committees,&rdquo CDL said, adding that the changes will not affect M& C&rsquo s operations or oversight. The resignations follow a turbulent period for the property group, marked by a public dispute between Kwek Leng Beng and Sherman Kwek over board appointments and control. Young was among the independent directors appointed in February last year, a move that had been questioned by the elder Kwek. She, along with Wong and Desbaillets, were also named in court papers filed by him, which alleged an &ldquo attempted coup&rdquo by Sherman Kwek to consolidate control of the board. Meanwhile, the younger Kwek had identified Dr Catherine Wu, an unpaid independent adviser to the M& C board, as a key source of the dispute he alleged that she exercised influence beyond her advisory role. She eventually resigned from the board following mediation efforts involving family friends and senior establishment figures. The dispute was resolved on Mar 12, 2025 after Kwek Leng Beng withdrew his lawsuit against his son. CDL shares ended Wednesday 0.6 per cent or S$0.05 lower at S$8.77, before the news. |
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Joelton
Supreme |
14-Apr-2026 08:27
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CLI raises $403 mil for second Asia-Pacific real estate credit fund CapitaLand Investment (CLI) (SGX:9CI) says it has raised US$320 million ($403 million) for its Asia-Pacific real estate credit fund, CapitaLand Asia Pacific Credit Program II (ACP II). ACP II is the second regional fund under the Temasek-linked property manager' s flagship real estate credit series. According to a statement from CLI on April 13, the final close of ACP II adds about US$600 million to its funds under management. The fund drew capital from a diverse group of new and existing investors in the Asia Pacific, including insurers, financial institutions and family offices. CLI holds a 20% sponsor commitment in the fund. &ldquo Our disciplined focus on senior secured, asset-backed investments positions us away from the challenges currently facing the wider credit sector,&rdquo says Kishore Moorjani, CLI&rsquo s CEO of alternatives, private funds. &ldquo We remain committed to scale our asset-light fund management platform.&rdquo ACP II has been allocated to five first mortgage loans for logistics, office and living assets located in Sydney and the Seoul Metropolitan Area. The final close of ACP II comes after the full realisation of ACP I, CLI&rsquo s inaugural credit programme. ACP I has invested A$265 million ($240 million) in two prime mixed-used developments in Melbourne and Adelaide. |
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Joelton
Supreme |
10-Apr-2026 11:41
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CDL sets up S$2 billion multicurrency perpetual securities issuance programme [SINGAPORE] City Developments Ltd (CDL) has launched a S$2 billion multicurrency debt issuance programme. The net proceeds will be used to finance general working capital requirements and corporate funding of CDL and its subsidiaries, as well as to refinance existing borrowings, said the group in a bourse filing on Thursday (Apr 9). The perpetual securities will be offered in Singapore to institutional investors and accredited investors. Perpetual securities have no fixed maturities and may be issued in various amounts, bearing fixed or floating rates of distribution. The issuer may also defer the distributions. CDL has applied to the Singapore Exchange to allow trading and listing of the perpetual securities. UOB is the arranger and dealer of the facility. Shares of CDL ended Thursday 1.7 per cent or S$0.15 lower at S$8.44, before the announcement. |
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JurongW
Elite |
09-Apr-2026 20:34
Yells: "Earnings give weight, Chart give wings" |
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ESTABLISHMENT OF CITY DEVELOPMENTS LIMITED&rsquo S S$2,000,000,000 MULTICURRENCY PERPETUAL SECURITIES ISSUANCE PROGRAMME City Developments Limited (CDL) has set up a $2 billion programme to issue perpetual securities (a type of bond with no maturity date). These can be issued in different currencies and sold mainly to institutional and accredited investors. The money raised will be used for CDL general funding needs or to refinance existing debt. https://links.sgx.com/1.0.0/corporate-announcements/I6GANOLGSTS174DZ/882819_Establishment%20Announcement%20-%20final.pdf |
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