Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
City Developments (CDL)
15-05-2019, 01:05 PM.
Post: #111
RE: City Developments (CDL)
CDL Charts Next Phase of Growth in China - Enters into Transformational RMB 5.5 Billion Deal

Highlights :
* CDL's single largest investment in China to date
* Expands CDL's geographical presence in China from 3 to 20 cities
* Increases CDL’s portfolio allocation in China from 9% to 15%
* Access to a substantial landbank of 12.6 million sqm GFA across 70 development projects
* Broadens CDL’s asset classes in China to include business parks and serviced apartments
* Invests another RMB 1.2 billion for a 70% stake in a prime Shanghai commercial property

City Developments Limited (CDL) has entered into agreements to invest in Sincere Property Group (Sincere, or 协信远创), an established real estate developer in China. The investment consideration, comprising share subscription and a four-year interest-bearing loan, the allocation of which is subject to adjustments and will be finalised upon completion, amounts to a total of RMB 5.5 billion (approximately S$ 1.1 billion).

More details in :
=========== Signature ===========
Specuvestor: Asset - Business - Structure.
Website Find Reply
12-05-2020, 08:13 AM.
Post: #112
Rainbow  1Q20 Update: City Developments (CDL)
12 May 2020 1Q20 CityDev operation update
(click for details)

Unprecedented Disruption Across All Business
Property Development
Lockdowns across server regions have affected sales and development works
- Residential sales affected by showflat closures
- Construction works affected
Asset Management
- Retail and F&B sector hard hit
- Sector severely impacted by hotel closures

Stay home and stay safe, everyone.

Find Reply
26-05-2020, 11:07 PM.
Post: #113
Rainbow  AGM for New Zealand: City Developments (CDL)
26 May 2020 CDL - Millennium & Copthorne Hotels New Zealand Limited

"To deal with this crisis head-on, Management has had to make decisions about MCK’s workforce which have affected over 70 percent of the company’s total head count. Prior to COVID-19, we had over 1,300 employees working for us at our various hotels.
As a Board, we recognise that the decisions that Management has had to make are very difficult but we agree with our Management team that these have been necessary to ensure that the Company is able to survive now and into the future.
We have lost and will be losing many long-serving and very loyal employees as a direct result of this crisis.
We are sorry to see them go and hopefully we will see some of them again when tourism gets back to more normal levels.
To conclude, this year will be the most challenging year that MCK has ever faced in its history. None of us have ever experienced a crisis of this nature. Your Board and the Management team are absolutely focused on ensuring that MCK is not only able to survive this year but able to be ready when tourism to New Zealand starts to grow again." 
(click for MCK FY2020 AGM ppt)
(click for CDL investments New Zealand Limited 36th AGM ppt)

Stay home and stay safe, everyone.
Bill Ackman on investment

Find Reply
03-06-2020, 08:57 AM.
Post: #114
Rainbow  Div & eAGM: City Developments (CDL)
2 June 2020 Div and eAGM for CDL

(click for sgx announcement)

1. div 8 + 6 (special) cents, xd 3 July 2020
2. eAGM 24 Jun 2020, 3pm
3. Pre-reg before 21 Jun 2020, 3pm
(audio and visual)
(audio only)

Stay home and stay safe, valuebuddies.
Watch Ray Dalio:

Find Reply
21-06-2020, 09:31 AM.
Post: #115
Rainbow  Q&A: City Developments (CDL)
20 June 2020 eAGM Q&A CDL
Question on Balance sheet inventories – how much relates to completed units that are unsold? Is there a government regulation regarding when these units must be sold and what proportion of unsold inventory is affected by such regulation?
The majority of our unsold inventory are projects that are under construction with most projects expected to obtain their Temporary Occupation Permits (TOPs) only from 2022 onwards.
The six-month extension given by the Singapore Government (detailed in the response under B4) is timely as the unprecedented circuit breaker measures have resulted in manpower and supply chain challenges for the industry. It provides some buffer time to accommodate any delays.
The only ABSD deadline the Group initially faced this year is for our Forest Woods project, which is 99% sold with only three units remaining. Due to the extension, the deadline is now pushed back to May 2021. The Group is confident of clearing the inventory within this timeframe.

Reminder: eAGM 24 Jun 2020, 3pm
Pre-reg before 21 Jun 2020, 3pm
(audio and visual)
(audio only)

Stay home and stay safe, valuebuddies.

Find Reply
13-07-2020, 08:03 AM.
Post: #116
Rainbow  1H Ended 30Jun2020 Profit Guidance: City Developments (CDL)
13 July 2020 1H ended 30 Jun 2020 Profit Guidance CDL

1. Hotel - RevPAR expected to decline 50-60%; expected pretax loss $120-140m
2. Property Dev - Rev decrease 10%
3. Investment Ppty - impacted due to $30m property tax and rental rebates given to tenants; +$197m gain from closure of PPS2, sales of Manulife Cenre, and 7&9 Tampines Grade
From 1-3, expects pre-tax profit to reduce substantially, and will be materially and adversely impacted.
Not accounted for:
1. negative goodwill due to acquisition of Sincere Property Group annouced in Apr 2020 - pending finalisining the property valuation
2. fair value valuation of investment and hotel properties which is not meaningful as situation remains volatile
3. robust cash and undrawn credit $5b

Wear mask and keep your social distance, everyone.

Find Reply
22-07-2020, 08:27 AM.
Post: #117
Rainbow  Resignation: City Developments (CDL)
17 July 2020 Resignation Group CEO Millennium & Copthorne

Mr Clarence Tan has submitted his resignation as the Group Chief Executive Officer of Millennium & Copthorne Hotels Limited ("M&C"), which resignation will take effect on 2 August 2020. Mr Tan has shared that he is resigning in order to spend more time with his family. Moving forward, he remains open to interesting or suitable opportunities that may come along.

Wear mask and keep your social distance, everyone.


Find Reply

Forum Jump:

Users browsing this thread: 1 Guest(s) | Return to Top | Lite (Archive) Mode | RSS Syndication | CONTACT US: