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I was last at this price in 2008-09, I remember? And also 1998-99? Now 2020-21... ...
Mr Kwek Leng Peck disagrees with Mr Kwek Leng Beng, who we should follow? By the popularity of the name, i follow KLB because i haven' t heard KLP before.
But indeed, maybe there is really some issues in it, otherwise how the CDL price is so low today. ard 7， this price is not usually seen. I know in the past it happened, but it is rare.
But indeed, maybe there is really some issues in it, otherwise how the CDL price is so low today. ard 7， this price is not usually seen. I know in the past it happened, but it is rare.
7.00 now looks a steal on this stock.
Write off is speculative in that it might eventually lead to a write-off. If the danger was not there, unlikley a close blood relative of prominent family would have resigned, knowing very well the impact it would have on the stock price. His resignation letter need not have listed out the reasons so clearly
NT1825 ( Date: 21-Oct-2020 21:30) Posted:
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Astute is not a thing that goes with every business decision one makes. One is bound to to make a misstep.
but, this one can be considered serious and major.
but, this one can be considered serious and major.
There must something be more into this.
It is KLB flagship company, he is too astute to be on something so obvious.
My 2 cents worth.
It is KLB flagship company, he is too astute to be on something so obvious.
My 2 cents worth.
Jamesbond007 ( Date: 21-Oct-2020 20:59) Posted:
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Sorry, did not see any word ' write-off' or similar in meaning in the news.
If this is true - please share the news link, otherwise can be construed as falsehood
First and foremost, the ceo needs to take full responsibility and takes the gentleman' s course, leave the company.
huatster ( Date: 21-Oct-2020 19:53) Posted:
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Wow, that is a lot of $$$$. Who is going to pay for it?
Scarldomz ( Date: 21-Oct-2020 16:21) Posted:
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We are talking about a property conglomerate with a strong track record, not some kacang puteh company.
Let' s not jump to conclusions...
Let' s not jump to conclusions...
The news is much worse than the pandemic.
We are talking of huge write-off.
CDL has indeed swallowed a rotten apple, this time.
We are talking of huge write-off.
CDL has indeed swallowed a rotten apple, this time.
unusual to notice economy so bad, but property market still so hot
During COVID-19 pandemic outbreak with market plunging...CDL drop to a LOW of S$6.23.
Their fundamentals is strong enough to stomach this event...in my watch list....looking to pick up on the low...
Their fundamentals is strong enough to stomach this event...in my watch list....looking to pick up on the low...
I am not vested, is in my watchlist.
7ocean ( Date: 21-Oct-2020 17:27) Posted:
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if is a feud in fmly then will be vry messy....not vested n no interest....
FATABA ( Date: 21-Oct-2020 17:23) Posted:
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The Storm is just begining...Trade with care.... she may sail to south... below $5
CheeryVGoh ( Date: 21-Oct-2020 17:11) Posted:
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Expect a big amt to wipe off $2B ? whatever, it surprise when this deal was NOT very long ago ....u mean they hv a rotten apple
( anyway not surprise with more these situation in China coming up /pandemic)
But I wonder what other issue is inside this disagreement ??? dont hv to resign mah ? a big disagrement moving forward ?
Will some of CDL investment in China also affected.
Anyway , just one afternoon , its price direction is very clear. Stay caution on this type of news
Dyodd
( anyway not surprise with more these situation in China coming up /pandemic)
But I wonder what other issue is inside this disagreement ??? dont hv to resign mah ? a big disagrement moving forward ?
Will some of CDL investment in China also affected.
Anyway , just one afternoon , its price direction is very clear. Stay caution on this type of news
Dyodd
FATABA ( Date: 21-Oct-2020 14:23) Posted:
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The Edge Singapore Published on Wed, Oct 21, 2020 / 2:21 PM GMT+8 / Updated 1 hours ago
Kwek Leng Peck, cousin of City Developments' executive chairman Kwek Leng Beng, has &ldquo regrettably&rdquo resigned from the board of the property giant.
Leng Peck, according to his letter of resignation cited by CDL, disagreed with CDL&rsquo s investment in Sincere Property Group, including the continuing of financial support totalling $1.9 billion to the China-based developer.
In addition, Leng Peck has &ldquo reservations&rdquo with CDL' s approach in the management of its hospitality unit, Millennium & Copthorne Hotels.
Earlier this year, CDL took a 51% stake in Sincere for RMB4.4 billion. It has also subscribed for US$230 million worth of bonds and provided a working capital loan of RMB650 million.
CDL has also provided a liquidity support undertaking totalling RMB 1.5 billion relating to the bonds issued by Sincere that&rsquo s maturing on Oct 26. It is also putting up a RMB1.5 billion corporate guarantee to loans taken out by Sincere.
According to CDL in an SGX announcement, no thanks to Covid-19, the liquidity position at Sincere is challenging, which has added further pressure on top of property cooling measures in China.
&ldquo The intended asset divestment plan for some of Sincere&rsquo s retail, hospitality, office and business parks assets, to lighten its debt load on investment properties exposure and to shore up its residential development plans as a key strategy to transform this platform, is now expected to take place over a longer period of time due to the current climate,&rdquo adds CDL.
CDL is going to appoint an external financial advisor to help evaluate and review its investment in Sincere.
&ldquo The impact on the group or its financial reporting will be prepared and calibrated together with the external financial advisor,&rdquo the company says.
Kwek Leng Peck, cousin of City Developments' executive chairman Kwek Leng Beng, has &ldquo regrettably&rdquo resigned from the board of the property giant.
Leng Peck, according to his letter of resignation cited by CDL, disagreed with CDL&rsquo s investment in Sincere Property Group, including the continuing of financial support totalling $1.9 billion to the China-based developer.
In addition, Leng Peck has &ldquo reservations&rdquo with CDL' s approach in the management of its hospitality unit, Millennium & Copthorne Hotels.
Earlier this year, CDL took a 51% stake in Sincere for RMB4.4 billion. It has also subscribed for US$230 million worth of bonds and provided a working capital loan of RMB650 million.
CDL has also provided a liquidity support undertaking totalling RMB 1.5 billion relating to the bonds issued by Sincere that&rsquo s maturing on Oct 26. It is also putting up a RMB1.5 billion corporate guarantee to loans taken out by Sincere.
According to CDL in an SGX announcement, no thanks to Covid-19, the liquidity position at Sincere is challenging, which has added further pressure on top of property cooling measures in China.
&ldquo The intended asset divestment plan for some of Sincere&rsquo s retail, hospitality, office and business parks assets, to lighten its debt load on investment properties exposure and to shore up its residential development plans as a key strategy to transform this platform, is now expected to take place over a longer period of time due to the current climate,&rdquo adds CDL.
CDL is going to appoint an external financial advisor to help evaluate and review its investment in Sincere.
&ldquo The impact on the group or its financial reporting will be prepared and calibrated together with the external financial advisor,&rdquo the company says.
Ha ha ! Low hanging durian.
Starship ( Date: 21-Oct-2020 16:57) Posted:
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$5?