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5121-5140 of 5622
still no news about the proposed dividend.
same as hong leong fin (under same big boss)
same as hong leong fin (under same big boss)
Banks cannot offend big clients mah.
earthdragon ( Date: 19-May-2020 08:31) Posted:
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Wonder how come ocbc still peg the target price for CDL at 12 dollars.
https://research.sginvestors.io/2020/05/city-developments-ocbc-investment-research-2020-05-18.html
https://research.sginvestors.io/2020/05/city-developments-ocbc-investment-research-2020-05-18.html
AhLiang ( Date: 13-May-2020 15:39) Posted:
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It's dropping so much because of this report? Or a delayed reaction for buying Sincere Property?
CDL sells more units here in first quarter but sales value falls
Property developer City Developments Limited (CDL) and its joint-venture associates sold 185 units with a total sales value of $278.1 million for its first quarter ended March 31, versus 173 units with sales value of $516.3 million a year ago.
The lower sales value was due to a majority of the residential units sold being mass-and mid-market projects like Whistler Grand, Piermont Grand and The Tapestry, it said in a business update yesterday.
In contrast, it sold units mainly from ultra-luxury projects such as Boulevard 88 in the first quarter a year ago.
The firm said it expects its sales volume to decline during the circuit breaker period.
Construction work for its Singapore developments has also been affected. But the temporary occupation permits for the majority of these projects are expected only in 2022 and 2023. The Forest Woods condominium in Lorong Lew Lian remains on track to be completed by the third quarter of this year.
Outside of Singapore, CDL reported a significant slowdown in new home sales for its projects in China, Britain and Australia.
In addition, its global hospitality portfolio, mainly comprising its wholly owned subsidiary Millennium & Copthorne Hotels, has been " severely impacted by closures following lockdowns imposed by local governments" , CDL said.
As of March 31, about 30 per cent of the group' s 152 hotels globally were temporarily closed.
All 10 of its Singapore hotels remain operational but revenue per available room declined 28.8 per cent due to lower occupancy.
CDL said several of its Singapore hotels are housing those hit by recent events such as Malaysia' s border closure, or have been designated as venues for people returning from abroad to serve stay-home notices. " These initiatives have helped to sustain occupancy rates in Singapore, allowing hotels to maintain a break-even position in April," it said.
Its Singapore office portfolio had a committed occupancy of 90.9 per cent for the quarter. In retail, about 80 per cent of its 426 tenants in Singapore are not operating due to circuit breaker measures.
For the first quarter, CDL' s net gearing ratio stood at 44 per cent, with cash reserves of $3.3 billion.
https://www.straitstimes.com/business/companies-markets/cdl-sells-more-units-here-in-first-quarter-but-sales-value-falls
https://www.straitstimes.com/business/companies-markets/cdl-sells-more-units-here-in-first-quarter-but-sales-value-falls
buying distress company is always a gain.
business men know better. they go in with eyes opening.
business men know better. they go in with eyes opening.
This is not the later news,they know b4 that, if not now is $6 not $8
Why City Dev bought? Never do due diligence is it?
Sincere Propety will be a drag to Citydev
Sincere pledged their asset to a lender to secure a debt or loan
今 年 年 初 ， 协 信 远 创 被 杭 州 市 中 级 人 民 法 院 列 为 " 被 执 行 人 " ， 执 行 标 的 9109万 元 ， 案 号 （ 2020） 浙 01执 106号 。 且 协 信 远 创 旗 下 已 有 多 家 子 公 司 股 权 被 质 押 用 于 融 资 ， 甚 至 100%质 押
今 年 年 初 ， 协 信 远 创 被 杭 州 市 中 级 人 民 法 院 列 为 " 被 执 行 人 " ， 执 行 标 的 9109万 元 ， 案 号 （ 2020） 浙 01执 106号 。 且 协 信 远 创 旗 下 已 有 多 家 子 公 司 股 权 被 质 押 用 于 融 资 ， 甚 至 100%质 押
fatpig ( Date: 10-May-2020 08:32) Posted:
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so suntec is trusted by the mutual funds. good??
fatpig ( Date: 10-May-2020 06:54) Posted:
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U mean city buy cheaper from Sincere for their property?
City Dev Enterprice value is 15.11B can they handle 50.1% of 13B debt from Sincere?
Sincere Develper total debt 64.9B CNY (about 13B SGD), nett profit only 36M SGD. not enough to repay interest lo.
进 入 2020年 ， 协 信 地 产 的 资 金 状 况 并 没 有 好 转 。 今 年 年 初 ， 协 信 远 创 被 杭 州 市 中 级 人 民 法 院 列 为 &ldquo 被 执 行 人 &rdquo ， 执 行 标 的 9109万 元 ， 案 号 （ 2020） 浙 01执 106号 。 且 协 信 远 创 旗 下 已 有 多 家 子 公 司 股 权 被 质 押 用 于 融 资 ， 甚 至 100%质 押 。
紧 接 着 3月 9日 ， 因 兑 付 资 金 未 及 时 到 账 ， 协 信 远 创 旗 下 公 司 债 16协 信 03、 16协 信 05、 16协 信 08等 4只 债 券 停 牌 一 天 ， 3月 10日 复 牌 。
协 信 远 创 存 续 债 券 一 共 有 6只 ， 总 规 模 47亿 元 。 从 债 券 明 细 上 看 ， 2020年 面 临 债 券 到 期 存 量 余 额 达 21.1亿 ， 2021年 面 临 债 券 到 期 存 量 余 额 为 25.91亿 。
截 止 2019年 6月 底 ， 协 信 远 创 营 收 仅 为 38.15亿 元 ， 净 利 润 1.81亿 元 。 期 内 ， 公 司 现 金 及 等 价 物 余 额 为 41.37亿 元 ， 总 负 债 录 得 649.28亿 元 ， 资 产 负 债 率 为 79.04%， 其 中 短 期 借 款 达 到 46.18亿 元 ， 一 年 内 到 期 的 非 流 动 负 债 达 到 76.44亿 元 。
Sgvale ( Date: 10-May-2020 07:59) Posted:
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That's why Sincere Property selling & only CityDev can grab it , others local avoid
fatpig ( Date: 10-May-2020 06:38) Posted:
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SunTec - Top mutual fund holders
| Holder | Shares | Date reported | % out | Value |
|---|---|---|---|---|
| Vanguard International Stock Index-Total Intl Stock Indx | 33,522,108 | 31 Oct 2019 | 1.19% | 62,351,120 |
| DFA Investment Dimensions-DFA Int' l Real Estate Securities | 26,880,300 | 31 Oct 2019 | 0.96% | 49,997,358 |
| Vanguard Global ex U.S. Real Estate Index Fund | 13,663,427 | 31 Oct 2019 | 0.49% | 25,413,974 |
| Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund | 12,921,762 | 31 Dec 2019 | 0.46% | 23,776,042 |
| iShares Core MSCI EAFE ETF | 10,191,400 | 31 Jan 2020 | 0.36% | 18,752,176 |
| iShares MSCI Singapore ETF | 8,688,900 | 31 Jan 2020 | 0.31% | 15,987,576 |
| iShares MSCI Eafe ETF | 8,277,100 | 31 Jan 2020 | 0.29% | 15,229,864 |
| SPDR (R) Idx Shares-SPDR (R) DJ International Real Estate ETF | 8,172,376 | 31 Jan 2020 | 0.29% | 15,037,171 |
| SPDR (R) Idx Shares-SPDR (R) DJ Global Real Estate ETF | 4,065,495 | 31 Jan 2020 | 0.14% | 7,480,510 |
| Invesco ETF Tr II-Invesco S& P Intl Dev Low Volatility ETF | 4,041,769 | 31 Jan 2020 | 0.14% | 7,436,854 |
john_ric ( Date: 08-Apr-2020 14:28) Posted:
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Sincere Property Group defaulted 4 of their company bonds in Mar 2020. They have problem repay loan given by CDL, CDL now are responsible all their existing bad debt and defaulted bonds law suit.
8$ will be tested again, dun think is easy to break thru
Time to break $8 and move towards $8.50 ... economies in China, Europe, US are opening up.
Sg will soon follows ...
BE A LONG NOW before missing the boat!!!
Sg will soon follows ...
BE A LONG NOW before missing the boat!!!
CDL to scoop up controlling stake in China' s Sincere Property Group
WED, APR 15, 2020 - 9:12 PMCITY Developments Limited (CDL) is acquiring a 51.01 per cent stake in Chinese real estate developer Sincere Property Group for RMB4.39 billion (about S$0.88 billion), which will enable it to expand its footprint in China.
As part of the transaction, a call option will also be granted to CDL, which it can exercise to purchase an additional 9 per cent interest in Sincere Property for RMB0.77 billion at the same entry valuation. If exercised, it will allow CDL to acquire a 60.01 per cent stake in Sincere for a total of RMB5.16 billion.
&ldquo Given the adverse impact of the Covid-19 crisis and the global uncertainty, CDL has taken the opportunity to negotiate new terms for its investment into Sincere Property, which are significantly improved over the original investment terms announced last year,&rdquo said CDL in a statement to the Singapore Exchange after the market closed on Wednesday.
CDL had announced in May last year that it would acquire a 24-per-cent stake in Sincere by investing RMB5.5 billion, which would comprise an equity investment and extending interest-bearing loans. The investment was to be split equally into two tranches, the first being a four-year interest-bearing loan of RMB2.75 billion, part of which would be converted into equity. The second tranche of RMB2.75 billion was to have been invested once certain conditions were fulfilled. The deal was not completed by Q4 2019 as expected &ldquo due to a variety of factors&rdquo , said CDL, adding that it did not acquire a stake in Sincere, but had extended an interest-bearing loan of RMB2.75 billion last year.
Sincere will use part of the RMB 4.39 billion to repay a loan previously extended to it by CDL. Once the deal is completed, CDL will hold a joint controlling interest in Sincere through an offshore investment vehicle. Sincere chairman Wu Xu&rsquo s stake in Sincere will fall from 60 per cent to 29 per cent Chinese developer Greenland Holdings Group Co will see its shareholding in Sincere about halve from 40 per cent to 19.99 per cent.
The new transaction values Sincere at RMB8.60 billion, almost 50 per cent below its net asset value (NAV) of RMB16.48 billion as at its unaudited consolidated financial statements for the year ended Dec 31, 2019.
With this deal, CDL&rsquo s portfolio allocation in China will go up from 13 per cent to 17 per cent as its presence in China goes from three cities to 18. It will also broaden its capabilities across property segments to include new asset classes such as business parks. The deal also gives CDL access to Sincere&rsquo s development land bank of 9.2 million sq m, with 64 development projects across mostly Tier 1 and 2 cities in China. In addition, Sincere has a portfolio of 27 investment properties in the retail, office and hospitality segments.
Shares in CDL closed 44 cents lower on Wednesday at S$7.48.
https://www.businesstimes.com.sg/companies-markets/cdl-to-scoop-up-controlling-stake-in-chinas-sincere-property-group