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CityDev
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tongphlp
Supreme |
21-Feb-2021 09:03
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Ring fence means the money is set aside for a purpose, in this case refers to investment in Sincere. It was not mentioned if CDL will continue to pump in more $$$ or cut loss or have some action plan to mitigate and stem the loss. That' s why I think the situation is very unclear.
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Sgvale
Supreme |
21-Feb-2021 08:12
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You believe meh? The fence can always re-open when needed. So much money invested. Either you lose all or take a chance. No chance of cutting loss
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uiop1223
Supreme |
21-Feb-2021 06:58
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Most likely will pump in more money to save their initial investment. This is what many retailers here like to do: average down with no aim or strategy | ||||
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tongphlp
Supreme |
20-Feb-2021 21:53
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A major crisis I would think this is..and it could get worst if not handled properly....giving rather vague, unclear and motherhood responses... Cardinal rules apply - Clear, Concise & Complete honesty to Communicate to shareholders timely and promptly... Cut off Sincere? Carry on and Continue Cash injection? Double whammy with Covid-19 & cooling measures (akan datang) questions, questions, questions )
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tongphlp
Supreme |
20-Feb-2021 21:39
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U think too highly of me bro! I wished I had the power or deep pockets to do that, but I' m no WB - Warren Buffet....Warner Brothers... Trump could have easily done that ...with just a tweet :)
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uiop1223
Supreme |
20-Feb-2021 21:18
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Im shorting 😈
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pasttime
Supreme |
20-Feb-2021 20:37
Yells: "gold silver are real money. not others iou." |
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real estate market in china has been like a blister to the foot in their economy. their government move to prick this blister and force out the water. a good move to avoid an uncontrolled collapse like the one that has occurred in usa some time ago. when the blister recover all will be well again. with the large amount of money created. where will the money flow to? so far we see flow into the new economy stock, bit coins. some other digital crypto products are beginning to move with hope of bit coin like gain. my believe is these digital crypto products will eventually burst. they have no real underlaying value, just believe of value, limited numbers (max 21m). as like any game, the operators will continue to exercise to create make believe. and if cannot distribute it will push up the value higher and higher. until eventually when they have distributed enough. or if they can control the high price and make the money. then a new product will permanently be there. one do not know if this will happen. i am not saying that one should not participate in these digital crypto products. it is a game. play as one like, remember to put in risk control and know what one go in for. if wager a $ must not loose more than that. worse is those who gamble then said it is long term investment when gamble failed. the wise one will leave those products early after making their killing. when part of money return to good old real estate, blue chips, gold? it can do wonder. |
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pasttime
Supreme |
20-Feb-2021 19:52
Yells: "gold silver are real money. not others iou." |
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you are right. why not you shot it down to the price you think it is.
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tongphlp
Supreme |
20-Feb-2021 14:59
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Responses have been quite unclear from CDL on Sincere issue and I think investors would like more transparency and information. The issue was then thrown out of proportion with the directors' sudden exit. |
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tongphlp
Supreme |
20-Feb-2021 14:52
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Investors want answers. Investors want clarity. Ring-fence is a term used to describe that the funds are earmarked and can only be used for an agreed purpose or intent. All said and done, let' s presume CDL' s investment in Sincere is $1b to be written off. With this $1b write off, what do you think should be a fair value for CDL moving forward? $2, $3, $8, $10? DYODD
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investshare
Supreme |
20-Feb-2021 14:29
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Whatever money already thrown in is considered sunk cost..
Ring fence mean no need to throw in new money.
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tongphlp
Supreme |
20-Feb-2021 14:21
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Similar situation to DBS acquisition of LVB bank in India?
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tongphlp
Supreme |
20-Feb-2021 14:00
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Got hope - be humble and seek help from Philip Ng and merge with Far East Organisation?
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Starship
Supreme |
20-Feb-2021 13:55
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tongphlp
Supreme |
20-Feb-2021 13:52
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The three directors who resigned must be super happy now? :)
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tongphlp
Supreme |
20-Feb-2021 13:22
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More profitable to go into gloves, masks or toilet paper! :)
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hokpin
Supreme |
20-Feb-2021 13:09
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This CDL, can't see light at the end of tunnel! | ||||
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tongphlp
Supreme |
20-Feb-2021 12:43
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What kind of news update is this? Will see $8 on Monday or $6? :) | ||||
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uiop1223
Supreme |
20-Feb-2021 11:45
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What do they mean by ? As announced on Jan 21, the group stated that it has ring-fenced its current financial exposure to the investment in Sincere and will continue to strenuously protect its position,"
If Sincere in deep shit, CDL investment of $1b+ value will fall right? How CDL protect? Take short position on Sincere? Buy CDS? 😂 😂 😂 😂 |
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Joelton
Supreme |
20-Feb-2021 09:40
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3b yuan of corporate bonds issued by CDL JV Sincere downgraded to ' AA-'
FIVE corporate bonds totalling 3.035 billion yuan (S$621.5 million) issued by Sincere Property, a joint venture of City Developments (CDL), have been downgraded by China Lianhe Credit Rating from " AA" to " AA-" , the mainboard-listed property developer announced in a Friday bourse filing after the market close.
The outstanding principal amount of each bond each ranges between 444 million yuan and 838 million yuan. All five bonds will mature this year. They were all issued before CDL invested in Sincere in April 2020.
CDL said that the credit rating downgrade has no impact on its own borrowings, as it is not committed to the obligations of these bonds. CDL' s total investment in Sincere stood at S$1.8 billion as at end-2020. It said that it has not provided any further liquidity support or corporate guarantees to Sincere since.
" As announced on Jan 21, the group stated that it has ring-fenced its current financial exposure to the investment in Sincere and will continue to strenuously protect its position," CDL said in the filing.
CDL will release its results for FY2020 on Feb 26.
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