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Very strong resistance at 9.95...... move up 2 fast 2 furious!
lynn89 ( Date: 28-Mar-2014 09:06) Posted:
CDL is moving up quite strongly. Today holding at $9.91and will reach $10 and beyond soon !!!
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CDL is moving up quite strongly. Today holding at $9.91and will reach $10 and beyond soon !!!
The Board of Directors of City Developments Limited (?CDL? or the ?Company?) refers to the announcement released on 23 December 2013 in connection with the acceptance of a Memorandum of Understanding (?MOU?) from an unrelated third party (the ?Purchaser?) who had expressed non-binding interest in acquiring from CDL?s wholly-owned subsidiaries (collectively, the ?CDL Entities?) an approximate
52.52% interest in the issued share capital of City e-Solutions Limited (" CES" ) held by the CDL Group through the CDL Entities. The Board wishes to inform that the CDL Entities had on 27 March 2014 served a notice on the Purchaser, stating inter alia that
the Purchaser has not met the terms of the MOU and has demonstrated by its conduct that the Purchaser is not proceeding with the transaction. As there were substantial differences between the parties, no agreement has been reached on the terms of the sale and purchase agreement.
Please also refer to the attached announcement released by CES on 27 March 2014.
http://infopub.sgx.com/FileOpen/27032014_CES.ashx?App=Announcement& FileID=288675
chinastar ( Date: 17-Feb-2014 13:10) Posted:
good luck:)
WanSiTong ( Date: 02-Jan-2014 10:56) Posted:
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City Developments ST: short term rebound towards 9.95 2013-12-29 23:46:00 Our preference: short term rebound towards 9.95.Our pivot point is at 9.43. Our preference: short term rebound towards 9.95. Alternative scenario: below 9.43, expect 9.24 and 9.13. Comment: the RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the stock is trading under both its 20 and 50 day MA (respectively at 9.68 and 10). City Developments is currently trading near its 52 week low at 9.45 reached on 12/12/13. Supports and resistances: 
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Initiate with Accumulate
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CDL reported 4Q13 PATMI at S$221.0mn (-11.1% y-o-y), bringing FY13 PATMI to S$683.0mn (+0.7% y-o-y)
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Undemanding valuation: market over-corrected amidst introduction of cooling measures
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Initiate with ?Accumulate?, with a TP of S$11.16 based on 30% discount to RNAV S$15.90.
CDL announced its 4Q13 and FY13 results on 27 February 2013. For its
full year results, revenue was reported at S$3,162.1mn (-5.7% y-o-y).
FY13 PATMI of S$683.0mn (+0.7% y-o-y) was largely unchanged from the
previous year. Net gearing is lowered to 0.20x (FY12: 0.25x). In 4Q13,
CDL welcomed a new CEO, Mr. Grant Kelley. The new CEO has wide
experience in real estate investment and used to serve as Head of Real
Estate (Asia Pacific) for Apollo Global Management.
How do we view this
Amidst a challenging FY13 for the real estate sector, CDL delivered
commendable results. The lowered profit contribution from the
development properties segment was expected, as CDL saw moderated
recognition of revenue and profits from its previously sold projects.
Although there was little growth in revenue from its hotel operation,
the profit contribution from this segment was better than expected
considering the drop in available room nights due to numerous ongoing
AEIs for its hotel assets.
On outlook, we continue to be positive for the Property Development
segment. In FY2013, the number of units sold was 34% higher than a year
ago. Due to accounting rules, revenue recognition for these projects are
largely on a percentage-of-completion basis. These projects continue to
replenish CDL?s development pipeline. Additionally, CDL has 3
completely sold Executive Condominiums that have yet to be recognized.
These will contribute to stronger future earnings. The company possesses
a strong balance sheet with cash and cash equivalents of S$2,871.3mn
and low gearing ratio of 0.20x. This will allow the new CEO to actively
seek out new opportunities overseas. We expect CDL to secure value
accretive projects/acquisitions in FY2014 and beyond.
Investment Action
We initiate coverage on CDL with an ?
Accumulate?. We
are positive on 1) Undemanding valuation based on current projects and
investments 2) Higher revenue/profit forecast for its development
properties based on previously sold projects 3) New management,
strategic direction to expand overseas and strong balance sheet. We
value CDL at
TP of S$11.16. ...last:$9.32...
Source:
Phillip Securities Research - 3 Mar 2014
STRONG FY 2013 EARNINGS OF $683 MILLION DESPITE CHALLENGING MARKET
CDL CHARTS NEW GROWTH DRIVERS
- Solid balance sheet with cash and cash equivalents of $2.87 billion
- Strong cash reserves ready for acquisitions and other platforms
- Growth focus on new geographies and products to accelerate diversification
- Declared 8c dividend
Financial Highlights
The Group delivered a resilient and consistent performance. Excluding revaluation surpluses from investment properties: Q4
2013 |
Q4
2012 |
% Change |
FY
2013 |
FY
2012 |
% Change |
Revenue ($ million) |
774 |
886 |
(12.6) |
3,162 |
3,354 |
(5.7) |
Profit Before Tax ($ million) |
256 |
326 |
(21.4) |
892 |
960 |
(7.1) |
PATMI* ($ million) |
221 |
249 |
(11.4) |
683 |
678 |
0.7 |
good luck:)
WanSiTong ( Date: 02-Jan-2014 10:56) Posted:
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City Developments ST: short term rebound towards 9.95 2013-12-29 23:46:00 Our preference: short term rebound towards 9.95.Our pivot point is at 9.43. Our preference: short term rebound towards 9.95. Alternative scenario: below 9.43, expect 9.24 and 9.13. Comment: the RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the stock is trading under both its 20 and 50 day MA (respectively at 9.68 and 10). City Developments is currently trading near its 52 week low at 9.45 reached on 12/12/13. Supports and resistances:
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breakout on the wrong side.
Sub sale transaction down to bottom. sales reaching 2003-04 level
recommendation for accumulation down till $5.
if you still the Singapore story. this is the share to own.
big returns in next super property bull run in the next 5-7 years when garmen reverse its policy
City Developments ST: short term rebound towards 9.95
2013-12-29 23:46:00
Our preference: short term rebound towards 9.95.Our pivot point is at 9.43.
Our preference: short term rebound towards 9.95.
Alternative scenario: below 9.43, expect 9.24 and 9.13.
Comment: the RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the stock is trading under both its 20 and 50 day MA (respectively at 9.68 and 10). City Developments is currently trading near its 52 week low at 9.45 reached on 12/12/13.
Supports and resistances:
Home sales may decline 10% in 2014 while prices are expected to drop for the first time in two years, according to broker Chesterton Singapore. Higher borrowing costs, falling public housing resale prices, slower population growth and a record number of apartment completions are key factors that could cause residential demand to wane. The property curbs, which included stamp duties and other taxes on home purchases, led Citigroup and UBS to rate the city?s residential developers underweight in the past two months. CapitaLand (-18% ytd) and City Dev (-25%), the nation?s two biggest listed developers, were among the three worst performers on the index after being in the top 10 last year
City Developments ST: the RSI is oversold
2013-12-22 23:44:00
Alternative scenario: the upside breakout of 9.71 would call for 9.9 and 10.02.Our pivot point stands at 9.71.
Our preference: the downside prevails as long as 9.71 is resistance.
Alternative scenario: the upside breakout of 9.71 would call for 9.9 and 10.02.
Comment: the RSI is below 30. It could either mean that the stock is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the share stands below
The Board of Directors of City Developments Limited (CDL or the Company) wishes to announce that further to the announcement released on 25 November 2013, the Company had, through its wholly-owned subsidiaries namely eMpire Investments Limited, Citydev Investments Pte. Ltd. and Educado Company Limited (collectively, the CDL Entities), on 21 December 2013 received a Memorandum of Understanding (Memorandum) from an unrelated third party (the Purchaser), expressing their non-binding interest in acquiring from the CDL Entities an aggregate of 200,854,743 ordinary shares representing approximately 52.52% interest in the issued share capital of City e-Solutions Limited (CES) held by the CDL Group through the CDL Entities.
In the Memorandum, the Purchaser had also expressed their non-binding interest in acquiring CES shares held by Hong Leong Holdings Limited and Hong Leong International (Hong Kong) Limited (collectively, the HL Entities), which when aggregated with the CES shares held by the CDL Entities amount to 226,929,031 CES shares, representing approximately 59.34% of the total issued share capital of CES as at the date of this announcement.
The CDL Entities and HL Entities have accepted the Memorandum on 21 December 2013, which is subject to the finalisation and implementation of each of the transactions contemplated in the Memorandum and the agreement on terms and conditions to be set out in a binding sale and purchase agreement (Formal Agreement) to be entered into by the relevant parties.
Further announcement will be made by the Company when the Formal Agreement is entered into by the CDL Entities.
Citydev managed to rebound on 17/12 and confirmed its support at 9.46 level. It might continue to rebound until it reaches its resistance at 9.70 level.
Tks for sharing...... Huat arh..
| City Development-Likely further correction after bearish breaks |
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By Philip Teo, OCBC
Likely further correction after bearish breaks Key supports breached.
City Developments could see more downside after breaching its key 4-year uptrend support recently this was followed by a bearish break below the $9.75 key support yesterday.
Indicator is bearish.
The MACD is trending lower steadily, suggesting that the downside momentum is building up.
Target price at $8.90.
The counter could possibly slip further towards the next key base at $8.90 (key troughs) in the weeks ahead.
Stop loss level at $9.90.
Meanwhile, we advocate a stop-loss exit for short sellers around $9.90, which is slightly above the newly established support-turned-resistance of $9.75.
...last: $9.51... |
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CityDev hit recent new low of 9.51..........watch tomorrow!
marubozu1688 ( Date: 08-Dec-2013 12:36) Posted:
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