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Sherman Kwek
Property
CDL targets at least $1 bil in divestments this year
The group is also looking to close the gap between its share price and its RNAV.
February 29, 2024
Results
CDL marks 60th anniversary in style with record earnings and total FY2022 dividends of 28 cents
The record earnings were boosted by a series of divestment gains
February 23, 2023
Environmental, Social and Governance
CDL receives Terra Carta Seal for sustainability leadership
CDL is the only Singapore company out of the 45 global corporations that received the recognition
November 04, 2021
Property
CDL warns of property cooling measures in Singapore
CDL's comments on potential property curbs mark the first time a developer has waded in on the issue.
May 25, 2021
Company in the news
Fourth CDL director, Jenny Lim, quits board
Lim, a former KPMG partner, joined CDL's board back in June 2018
May 03, 2021
Property
'Proxy to Singapore' to continue land banking
City Developments will continue to landbank in Singapore even as it unlocks value from portfolio of old undervalued assets
March 05, 2021
Results
CDL records $1.78 bil impairment on Sincere Property Group; declares $1.92 bil loss for FY20
Despite the losses, the group has declared total dividend of 12.0 cents per share for the FY2020.
February 26, 2021
Sustainability
City Developments Limited ranked most sustainable company in real estate and in Singapore by Global 100
Group CEO Sherman Kwek says CDL will "continue to drive sustainability to build resilience for a greener and healthier recovery".
January 25, 2021
Property
CDL's Sherman Kwek seeks to salvage Sincere Property deal
It’s the biggest challenge yet for Kwek, who’s been at the helm for three years and spearheaded the Sincere deal in 2019.
January 19, 2021
Results
City Developments reports 34% decline in 3Q earnings to $115 mil on impairment losses, lower revenue
This was partially mitigated by higher revenue contribution from the hotel operations, investment properties and others segments, which saw increases of 4.2%, 28.3% and 6.5% respectively.
November 12, 2019