City Developments (CDL)

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From the public statement, there is nothing wrong in what KLP is saying. Imho, CDL's Board and management should ruminate on the concerns highlighted.
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From the public statement, there is nothing wrong in what KLP is saying. Imho, CDL's Board and management should ruminate on the concerns highlighted.
Reply
Rainbow 
City Developments Limited (“CDL” or the “Company”) refers to the operational update for the quarter ended 30 September 2020 announced by the Company on 30 November 2020. The prolonged COVID-19 pandemic has continued to impact the various business segments of the Group. Although there are signs of improvement and some early results of changes to operations, cost structure and marketing, the effects of the pandemic are expected to continue into 2021, even with expectations of vaccines being made available. 
https://links.sgx.com/FileOpen/CDL_Guida...eID=640849

Stay home and stay safe, everyone.
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Rainbow 
City Developments Limited (“CDL” or the “Company”) refers to the operational update for the quarter ended 30 September 2020 announced by the Company on 30 November 2020. The prolonged COVID-19 pandemic has continued to impact the various business segments of the Group. Although there are signs of improvement and some early results of changes to operations, cost structure and marketing, the effects of the pandemic are expected to continue into 2021, even with expectations of vaccines being made available. 
https://links.sgx.com/FileOpen/CDL_Guida...eID=640849

Stay home and stay safe, everyone.
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Rainbow 
CDL -
Millennium & Copthorne Hotels Limited (M&C) said today that its hotels in key gateway cities of Singapore and London have reported spikes in staycation bookings and restaurant outlets, with strong domestic demand ahead of the Christmas and New Year festive season leading up to Chinese New Year in February 2021. 

Singapore hotels under M&C – a subsidiary of Singapore Exchange-listed City Developments Limited (CDL) – recorded bookings of 31,480 room nights in the August to November 2020 period, up nearly seven-fold from 4,698 in the preceding four months. M&C owns or operates over 2,000 hotel rooms in Singapore, including Orchard Hotel Singapore, Grand Copthorne Waterfront Hotel, Copthorne King’s Hotel, M Social Singapore, M Hotel and Studio M.
https://links.sgx.com/FileOpen/0312_News...eID=641432

Stay home and stay safe, everyone.
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Rainbow 
CDL -
Millennium & Copthorne Hotels Limited (M&C) said today that its hotels in key gateway cities of Singapore and London have reported spikes in staycation bookings and restaurant outlets, with strong domestic demand ahead of the Christmas and New Year festive season leading up to Chinese New Year in February 2021. 

Singapore hotels under M&C – a subsidiary of Singapore Exchange-listed City Developments Limited (CDL) – recorded bookings of 31,480 room nights in the August to November 2020 period, up nearly seven-fold from 4,698 in the preceding four months. M&C owns or operates over 2,000 hotel rooms in Singapore, including Orchard Hotel Singapore, Grand Copthorne Waterfront Hotel, Copthorne King’s Hotel, M Social Singapore, M Hotel and Studio M.
https://links.sgx.com/FileOpen/0312_News...eID=641432

Stay home and stay safe, everyone.
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Rainbow 
CDL to sell Penang Hotel; combined sales of S$105 million and divestment gains of S$50 million from disposal of three hotel assets" issued by City Developments Limited on 14 December 2020.
https://links.sgx.com/FileOpen/1412_CDL_...eID=642250

Stay home and stay safe, everyone.
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Rainbow 
CDL to sell Penang Hotel; combined sales of S$105 million and divestment gains of S$50 million from disposal of three hotel assets" issued by City Developments Limited on 14 December 2020.
https://links.sgx.com/FileOpen/1412_CDL_...eID=642250

Stay home and stay safe, everyone.
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Rainbow 
CDL - Kwek Leng Beng
Of late, issues of corporate governance and gender diversity have been hotly debated. Having sat on various boards of the Hong Leong Group for over 40 years and served as Executive Chairman of CDL since 1995, I believe I have sufficient experience to assess what makes a successful board.

When the management presents a business strategy, the Board should ask tough questions and raise concerns openly and robustly. Recommendations and constructive advice can be made to refine the strategy. But once a collective decision is made, unanimously or by majority votes, a director who may have disagreed, should now support its successful implementation.

Recently, the CDL Board has undergone changes. As Chairman, I thank the outgoing Directors for their past contributions. Over the last three months, CDL has evaluated its Board composition, Board Committees and qualifications of its members. The departures of several directors offer CDL an opportunity to renew its Board bench.

Accordingly, we have recruited new Independent Non-Executive Directors with diversified skill sets and perspectives. Each of them brings to the table different industry experience at senior levels.

I advocate the adage “Effective people are not problem minded. They are solution minded. They feed solutions and starve problems.

https://links.sgx.com/FileOpen/CDL_Execu...eID=644541



Kwek ended his letter with an excellent adage.
It's very clear, at least from Kwek's point of view, the new team would be able to feed solutions and starve problems.

Putting the decision to invest in China, whether it's right or wrong aside, we should expect some teething problems to be solve.
With the new team, CDL should be in a better position to solve them head-on.

Am I right?

Smile

Stay home and stay healthy, everyone.
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Rainbow 
CDL - Kwek Leng Beng
Of late, issues of corporate governance and gender diversity have been hotly debated. Having sat on various boards of the Hong Leong Group for over 40 years and served as Executive Chairman of CDL since 1995, I believe I have sufficient experience to assess what makes a successful board.

When the management presents a business strategy, the Board should ask tough questions and raise concerns openly and robustly. Recommendations and constructive advice can be made to refine the strategy. But once a collective decision is made, unanimously or by majority votes, a director who may have disagreed, should now support its successful implementation.

Recently, the CDL Board has undergone changes. As Chairman, I thank the outgoing Directors for their past contributions. Over the last three months, CDL has evaluated its Board composition, Board Committees and qualifications of its members. The departures of several directors offer CDL an opportunity to renew its Board bench.

Accordingly, we have recruited new Independent Non-Executive Directors with diversified skill sets and perspectives. Each of them brings to the table different industry experience at senior levels.

I advocate the adage “Effective people are not problem minded. They are solution minded. They feed solutions and starve problems.

https://links.sgx.com/FileOpen/CDL_Execu...eID=644541



Kwek ended his letter with an excellent adage.
It's very clear, at least from Kwek's point of view, the new team would be able to feed solutions and starve problems.

Putting the decision to invest in China, whether it's right or wrong aside, we should expect some teething problems to be solve.
With the new team, CDL should be in a better position to solve them head-on.

Am I right?

Smile

Stay home and stay healthy, everyone.
Heart
Reply
Any thoughts where the problem that needed solutions come from? ?

Those resigned are not new directors either that doesn’t know the rules of engagement.
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

Think Asset-Business-Structure (ABS)
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Any thoughts where the problem that needed solutions come from? ?

Those resigned are not new directors either that doesn’t know the rules of engagement.
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

Think Asset-Business-Structure (ABS)
Reply
Rainbow 
CDL
@S - the chicken have come back to roost?

the Group expects to make provisions for a material impairment loss on the investment.
https://links.sgx.com/FileOpen/2101_CDL....eID=645733

Stay home and stay healthy, everyone.
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Rainbow 
CDL
@S - the chicken have come back to roost?

the Group expects to make provisions for a material impairment loss on the investment.
https://links.sgx.com/FileOpen/2101_CDL....eID=645733

Stay home and stay healthy, everyone.
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