Post Reply
241-260 of 5622
He has a good management team in place
tongphlp ( Date: 06-Aug-2025 09:09) Posted:
|
wah...better than his old man performance?
valuehunter96 ( Date: 04-Aug-2025 09:26) Posted:
|
With a clear management strategy in place focused on asset divestments and debt reduction, CDL true Value will be recognised and short sellers will be at their mercy
Workaholic ( Date: 04-Aug-2025 11:19) Posted:
|
Agree. Why settle for less when the golden opportunity presents itself. Go for nothing less than $10+.
valuehunter96 ( Date: 04-Aug-2025 10:40) Posted:
|
Look. The RNAV is MORE THAN $19. Why should it trade under $10?
sengkang ( Date: 04-Aug-2025 10:32) Posted:
|
Congrats man..... six eight five?
A total of 8.5m Shares has been sold short at an average price of $6.05. THEY ARE LIKELY NOT COVERED. SQUEEZE THE SHORT SELLERS
Management direction going forward is VERY CLEAR. UNLOCK VALUE AND SELL ASSETS. SHERMAN KWEK TO REGAIN CREDIBILITY WHEN CDL GOES ABOVE $10
Workaholic ( Date: 21-Jul-2025 14:48) Posted:
|
POWERFUL SHORT SQUEEZE IS COMING!
Some stupid funds WILL Be caught on the wrong side of the trade
CDL RNAV IS MORE THAN $19!
Some stupid funds WILL Be caught on the wrong side of the trade
CDL RNAV IS MORE THAN $19!
CDL&rsquo s Kwek Leng Beng aims to treble the group&rsquo s hotel numbers to 500
&lsquo Developing a strong and reputable brand is my priority,&rsquo says the property veteran
[SINGAPORE] If City Developments Ltd (CDL) executive chairman Kwek Leng Beng&rsquo s plans come to fruition, the group&rsquo s portfolio of hotels &ndash including those under subsidiary Millennium Hotels & Resorts (MHR) &ndash will treble in size, with some 500 properties dotted around the globe.
&ldquo My personal vision and dream is for our group to expand our portfolio to 500 hotels, with hundreds of our Singapore flags flying on our properties in key cities around the world,&rdquo the billionaire told The Business Times.
CDL, which is listed on the Singapore Exchange, has over 160 hotels in its portfolio. Subsidiary MHR operates over 145 hotels worldwide, with 37,000 rooms in total. Of MHR&rsquo s hotels, over 60 are owned by the group through Millennium & Copthorne Hotels.
Well-known properties in Singapore include Copthorne King&rsquo s Hotel and Orchard Hotel.
Most recently, in July, the group held a grand opening for its property in Penang, Malaysia, under its lifestyle and contemporary brand M Social. At M Social Penang, in-room services are handled by a voice-activated butler that runs on artificial intelligence.
MHR&rsquo s hotels cater to business and leisure travellers worldwide and employ some 6,000 employees.
While going from 145 to 500 hotels may sound a tall order, it&rsquo s a long-term vision, said Kwek.
The 84-year-old property veteran added: &ldquo We have expanded our global portfolio significantly over the years through strategic hotel management contracts and partnerships. For example, MHR&rsquo s franchise partner in the Middle East operates over 50 hotels through management contracts we do not own any of the hotels.&rdquo
There are also management contracts in China where the properties are owned by third parties.
Between owned properties and managed ones, Kwek has become increasingly agnostic. &ldquo We are not constrained by ownership structure &ndash whether the hotels are owned, managed, or franchised &ndash as long as they carry the MHR brand and meet our standards as part of our portfolio.&rdquo
And if there&rsquo s a choice to be made between having more assets and building a brand, Kwek plumps for the latter.
&ldquo Developing a strong and reputable brand is my priority,&rdquo he said. &ldquo While growing the number of hotels is important, it&rsquo s the strength of the brand that drives sustainable growth and differentiates us in a competitive market. A strong brand creates value that enables us to expand our portfolio more effectively and strategically.&rdquo
Collaborations can also assist in strengthening a brand. In July, CDL announced a partnership with Lotte Hotel and Resorts, allowing more than four million MyMillennium members to enjoy preferential rates. The news came soon after MHR announced a similar tie-up with Germany&rsquo s Maritim Hotels, with over 30 properties across Germany and the broader European Union.
Such partnerships offer a &ldquo cost-effective way to access new customer segments without the expenses tied to acquisition, renovation, or development of new properties&rdquo , said Kwek.
He added that the group is &ldquo actively pursuing partnerships that support our growth strategy and enhance the overall guest experience&rdquo .
&ldquo Our aim is to work with well-established hospitality groups that complement our brand, extend our global reach, and offer added value.&rdquo
Though there is no set timeframe for getting to the target of 500, it is likely to be achieved partly by scaling in fast-growing markets, such as South-east Asia and China.
While these markets offer opportunities, Kwek stressed that the group&rsquo s vision &ldquo remains global in scope&rdquo , and it will &ldquo continue to evaluate opportunities in other key markets as well&rdquo . &ldquo Our focus is on building a well-balanced, resilient portfolio that strengthens our presence across both mature and emerging markets.&rdquo
In Singapore, a lack of hospitality talent is a potential stumbling block to expansion.
Longstanding hospitality and tourism training institute Shatec recently closed its doors.
&ldquo We need to support these (training) organisations to ensure we have a steady pipeline of talented individuals joining the hospitality sector,&rdquo said Kwek.
CDL and Kwek donated S$24 million in 2023 to the Singapore Institute of Technology (SIT) to establish the Kwek Leng Beng University Tower at SIT&rsquo s Punggol campus. SIT is the first and only autonomous university in Singapore to offer a degree in hospitality and tourism management.
Building a hospitality and property empire
When Kwek joined Hong Leong Group &ndash which holds a controlling stake in CDL &ndash in 1963, the business was primarily focused on building materials and finance.
It was Kwek who spearheaded the development of both the property and hospitality businesses, &ldquo both of which remain very important to me&rdquo , he said.
CDL&rsquo s hotel business started with the purchase of a site along Havelock Road in Singapore. The King&rsquo s Hotel opened its doors in 1970 under Kwek&rsquo s direction.
In the 1990s, CDL acquired its first properties outside Asia, including the Gloucester Hotel and The Bailey&rsquo s Hotel in London, as well as 13 other hotels in New Zealand.
By 1996, it had formed Millennium & Copthorne (M& C) as its hospitality arm after picking up a trophy asset the year before: Donald Trump&rsquo s Plaza Hotel in New York. M& C was even listed on the London Stock Exchange.
Now the hospitality arm, renamed MHR, contributes significantly to both revenue and pre-tax profit. For FY2024, hotel operations saw revenue of S$1.6 billion, and pre-tax profit of S$193.4 million. The other key income stream, property development, brought in revenue of S$939.4 million and pre-tax profit of S$18.5 million.
Looking forward to a new growth phase
Earlier this year, a boardroom disagreement between Kwek and his son Sherman, who is also CDL&rsquo s CEO, erupted into the public realm. While it has been resolved publicly, it sparked speculation over &ndash among other issues &ndash whether the chairman wanted more attention to be devoted to the hotel business.
One issue that analysts have focused on is the group&rsquo s level of debt exposure.
CDL has said that most Singapore-listed property companies record their investment properties at fair value, whereas it reports its gearing at book value, which takes cost minus depreciation and impairment losses. With its more conservative approach, CDL&rsquo s gearing ratio often appears higher than its peers.
In any case, CDL&rsquo s pro forma net gearing as at Mar 31, 2025, will fall from 72 per cent to 66 per cent with the recently announced divestment of its 50.1 per cent interest in the South Beach development on Beach Road.
The market seems to appreciate these moves, with CDL&rsquo s share price recovering to S$6.12 as at market close on Aug 1 the counter was last seen over the S$6 mark in May 2024.
The group continues to actively assess its portfolio and identify assets for divestment, as well as explore strategic partnerships and joint ventures.
Even as these financial aspects are being addressed, &ldquo growing our business is our main priority&rdquo , noted Kwek.
Given the Singapore market&rsquo s property curbs and high land prices, CDL has built an overseas property development and asset-management platform across its key markets of Australia, China, Japan and the UK.
It has expanded into new asset classes, including the private rented sector and purpose-built student accommodation.
Reiterating that there are &ldquo significant opportunities in the hospitality sector, which offer long-term value and resilience&rdquo , Kwek added that the group is &ldquo committed to further strengthening this segment in key global markets&rdquo .
&ldquo Ultimately, I would like to be known as someone who creates lasting value, whether through property development or hotels,&rdquo he concluded. &ldquo I hope to be remembered for growing the group and contributing to Singapore&rsquo s development through our diverse businesses, creating opportunities and value that extend beyond myself.&rdquo
Its actually great news that the loser Phillip Yeo was retired
tongphlp ( Date: 17-Jul-2025 18:45) Posted:
|
Bank Debts are significantly lower after the sale of the Southbeach office
HuatAh7898 ( Date: 21-Jul-2025 22:32) Posted:
|
CDL is selling away alot of assets to unlock value! FAIR VALUE IS MORE THAN $19!
huattuatua ( Date: 23-Jul-2025 09:52) Posted:
|
CDL REAL VALUE IS MORE THAN $19 as shown in the company presentation! Very Undervalued!
640
sengkang ( Date: 25-Jul-2025 16:08) Posted:
|
Today six four three
1000
sengkang ( Date: 23-Jul-2025 10:53) Posted:
|
Next stop - six six six.
Then - seven seven seven.
Then ............... fill in the blank.
Then - seven seven seven.
Then ............... fill in the blank.
This is the reasons for the recent climb.
I hope Sherman learned from the bad management style and go for a more inclusive and open management style. Talents are plenty provided the environment are right for them to be creative and motivated to bring on their best. Certainly they will quit if they were to be mere yes-man and abused for being creative.
I hope Sherman learned from the bad management style and go for a more inclusive and open management style. Talents are plenty provided the environment are right for them to be creative and motivated to bring on their best. Certainly they will quit if they were to be mere yes-man and abused for being creative.
Workaholic ( Date: 21-Jul-2025 14:48) Posted:
|
hv u noticed this? eversince the board tussle months back, this counter has been slowly creeping up from below 5 to now abv 6, really not bad sial.