City Developments’ future RNAV gets boost as redevelopment takes shape
Its book NAV based on historical cost accounting stood at $9.22 as at June 30, 2021.
If NAV were to include fair value gains on investment properties, it would be $14.22.
If NAV were to include fair value gains on investment property and revaluation surplus on the hotel portfolio, it would rise to $17.
Hence based on the closing price of $6.83, CDL is trading at 0.7 times book NAV, 0.48 times P/NAV including fair value gains, and 60% discount to revalued NAV (RNAV).
Source: The Edge Singapore
https://www.theedgesingapore.com/capita ... akes-shape