City Developments 02 (Nov 16 - Dec 26)

[behappyalways]

City Developments reported a 32% y-o-y rise in net profits in 1HFY2024
https://www.theedgesingapore.com/capita ... s-1hfy2024

[behappyalways]

CDL jointly acquires mixed-use development site in Shanghai for RMB8.94 bil with Chinese partner Lianfa Group
https://www.theedgesingapore.com/news/p ... se-partner

[behappyalways]

CDL sells 20% of Union Square Residences by end of Nov 9 at an average price of $3,200 psf
https://www.theedgesingapore.com/news/p ... e-3200-psf

[behappyalways]

CDL sales value nearly doubles y-o-y to $611.1 mil in 3QFY2024
https://www.theedgesingapore.com/capita ... l-3qfy2024

[behappyalways]

CDL divests assets worth more than $600 million in 2024
https://www.theedgesingapore.com/news/p ... llion-2024

[behappyalways]

CDL offers to privatise Millennium & Copthorne Hotels New Zealand for $1.72 per share
https://www.theedgesingapore.com/news/o ... -172-share

[behappyalways]

Battle erupts between billionaire Kwek Leng Beng and son Sherman Kwek for control of CDL
https://www.straitstimes.com/business/b ... rol-of-cdl

[winston]

not vested

Weathering the temporary storm

FY24 results missed our estimates, dragged by lower contributions from property development segment

Earnings visibility improves from FY25F on largely presold residential projects in Singapore

Board feud clouds near-term strategic direction, but fundamentals remain intact

Maintain BUY with revised TP of SGD6.70 (prev SGD10.50)

Source: DBS

https://www.dbs.com/insightsdirect/comp ... ecid=23969

[behappyalways]

City Developments' FY2024 patmi falls 36.6% as gearing rises to 117%
https://www.theedgesingapore.com/capita ... -rises-117

[behappyalways]

CDL increases offer price for Millennium & Copthorne Hotels New Zealand to NZ$2.80
https://www.theedgesingapore.com/news/o ... land-nz280