City Developments Limited

SINGAPORE (Feb 23): City Developments Limited (CDL) reported FY16 earnings of $653.2 million, which represents a 15.5% decline from the $773.4 million posted for FY15.

SINGAPORE (Dec 8): The resurgence in volume growth and residential sentiment in the recent quarters is leading Credit Suisse to believe that these are an important first step towards a sustainable recovery in Singapore’s property sector.

SINGAPORE (Nov 22): UBS is upgrading Singapore equities to “neutral” in its Asia ex-Japan asset allocation, citing Singapore’s resilience due to its defensive nature.

SINGAPORE (Nov 17): DBS Group Research is maintaining its view that the Singapore property market remains on a “modest correction path” while highlighting that developers trading at 0.75x P/NAV still remain attractive.

SINGAPORE (Oct 21): Maybank Kim Eng is maintaining its “hold” call on City Developments Limited (CDL) with a target price of $9.42, citing the lifting of a key stock overhang in Nouvel 18.

SINGAPORE (Oct 18): City Developments Limited (CDL) announced that its special purpose company, Iconique Tokutei Mokuteki Kaisha has signed an agreement with Mitsui Fudosan Residential for a 20% stake in a prime residential development in Tokyo.

SINGAPORE (Sept 16): The clock is ticking for Singapore’s property developers, who are facing the double threat of ABSD deadlines and looming supply.

SINGAPORE (Aug 10): Pokemon Go fever has hit Singapore. And retail malls here are racing to cash ‘em all – before the fad disappears in a puff of smoke like a Pokemon running away.

SINGAPORE (July 5): OCBC Investment Research is keeping its “neutral” rating on Singapore’s residential property sector amid “one of the longest property bear in recent history”.

You need to have the right entry price on the land to get the right price point in the sale to get your fat margin. And, historically, CDL had such a tremendous legacy land-bank that we had a straightforward proposition in that we could deliver products r