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City Developments Ltd (CTDM.SI)

CTDM.SI on Stock Exchange of Singapore

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Latest Key Developments (Source: Significant Developments)

City Developments Expects Sales Volume To Decline During Circuit Breaker Period
Tuesday, 12 May 2020 

May 12 (Reuters) - City Developments Ltd ::SOLD 185 UNITS WITH TOTAL SALES VALUE OF $278.1 MILLION IN Q1 2020.DURING CIRCUIT BREAKER PERIOD, EXPECTS SALES VOLUME TO DECLINE.IN APRIL SAW INCREASE OF OVER 30% IN ONLINE TRAFFIC VIEWS FOR LAUNCHED PROJECTS.MAJORITY OF GROUP'S RETAIL TENANTS WILL RECEIVE MORE THAN 2.8 MONTHS OF GROSS RENTAL REBATES IN TOTAL.FOR Q1, GLOBAL OCCUPANCY DROPPED TO 52.1% VERSUS 70.0%.HEADWINDS AFFECTING OVERALL DEMAND & DISRUPTING SUPPLY CHAINS EXPECTED TO PERSIST IN NEAR-TERM.DISRUPTED SUPPLY CHAINS WILL LIKELY WEIGH ON GROUP'S OPERATIONS AND FINANCIAL PERFORMANCE.HOSPITALITY BUSINESS SUFFERED MOST SEVERELY FROM COVID-19; NEAR-TERM OUTLOOK HIGHLY CHALLENGING & UNCERTAIN.BOARD TOOK A VOLUNTARY 25% REDUCTION OF DIRECTORS' FEES SINCE 1 APRIL.TOP MANAGEMENT TOOK 20% PAY CUTS, OTHER SENIOR PERSONNEL TOOK 15% PAY CUTS SINCE APRIL 1.  Full Article

City Developments To Acquire 51.01% Joint Controlling Stake In Sincere Property Group
Wednesday, 15 Apr 2020 

April 15 (Reuters) - City Developments Ltd ::CDL TO ACQUIRE 51.01% JOINT CONTROLLING STAKE IN SINCERE PROPERTY GROUP FOR RMB 4.39 BILLION.PART OF INVESTMENT QUANTUM TO BE UTILISED TO REPAY RMB 2.75 BILLION LOAN EXTENDED BY CDL TO SINCERE PROPERTY.UPON COMPLETION, CDL TO HOLD JOINT CONTROLLING INTEREST IN SINCERE PROPERTY VIA OFFSHORE INVESTMENT VEHICLE.CALL OPTION TO ALSO BE GRANTED TO CDL TO BUY ADDITIONAL 9% EFFECTIVE INTEREST IN SINCERE PROPERTY FOR RMB0.77 BILLION.  Full Article

IREIT Global Says Tikehau Capital & City Developments Substantially Increased Respective Unitholdings
Tuesday, 7 Apr 2020 

April 7 (Reuters) - City Developments Ltd ::TIKEHAU CAPITAL & CITY DEVELOPMENTS SUBSTANTIALLY INCREASED RESPECTIVE UNITHOLDINGS IN IREIT, BRINGING STAKES TO OVER 50% IN AGGREGATE..AT INVESTMENTS ACQUIRED A SUBSTANTIAL 5.50% STAKE IN IREIT.  Full Article

City Developments Says City Strategic Equity Pte. Ltd. Acquired 52.1 Million Units In IREIT Global
Tuesday, 7 Apr 2020 

April 7 (Reuters) - City Developments Ltd ::CITY STRATEGIC EQUITY PTE. LTD. ACQUIRED 52.1 MILLION UNITS IN IREIT GLOBAL FOR CONSIDERATION OF S$25.5 MILLION.FOLLOWING ACQUISITION OF IGG UNITS & TJ UNITS, CO'S DEEMED INTEREST IN UNITS OF IREIT INCREASED FROM 12.52% TO 20.87% UNITS IN IREIT.  Full Article

City Developments Says Clarence Tan Appointed As Group CEO For Millennium & Copthorne Hotels
Monday, 30 Mar 2020 

March 30 (Reuters) - City Developments Ltd ::CLARENCE TAN APPOINTED GROUP CEO FOR MILLENNIUM & COPTHORNE HOTELS LTD WITH EFFECT FROM 2 APRIL 2020.  Full Article

City Developments Says Unit CDL Investments New Zealand Confident All Agreements For Sale Of Land It Currently Holds Will Settle During This Year
Wednesday, 25 Mar 2020 

March 25 (Reuters) - City Developments Ltd ::UNIT CDL INVESTMENTS NEW ZEALAND CONFIDENT ALL AGREEMENTS FOR SALE OF LAND IT CURRENTLY HOLDS WILL SETTLE DURING THIS YEAR.UNIT SEES DELAYS IN REGULATORY SITE INSPECTIONS AND ISSUANCE OF TITLES GIVEN IMMINENT LOCK DOWN OF NON-ESSENTIAL SERVICES.UNIT SAYS SALES ACTIVITY NOT AFFECTED BY LOCK DOWN.UNIT ADVISED ALL OF ITS CONTRACTORS TO STOP DEVELOPMENT WORKS IMMEDIATELY.  Full Article

City Developments Posts Qtrly Profit Attributable S$87.7 Mln
Wednesday, 26 Feb 2020 

Feb 26 (Reuters) - City Developments Ltd ::** QTRLY PROFIT ATTRIBUTABLE S$87.7 MLN VS S$77.9 MLN.** Q4 REVENUE S$946.9 MLN VS S$788.3 MLN.** DECLARES FINAL ORDINARY DIVIDEND OF 8.0 CENTS PER SHARE.** DECLARES SPECIAL FINAL ORDINARY DIVIDEND OF 6.0 CENTS PER SHARE.** GROUP'S RESIDENTIAL GLS SITE AT SIMS DRIVE SLATED FOR SALES LAUNCH IN 1H 2020.  Full Article

City Developments Says Qtrly Profit Attributable S$115 Mln
Tuesday, 12 Nov 2019 

Nov 12 (Reuters) - City Developments Ltd ::QTRLY REVENUE S$885.3 MILLION VERSUS S$1.02 BILLION.QTRLY PROFIT ATTRIBUTABLE S$115 MILLION VERSUS S$173.3 MILLION.WILL TAKE A HOLISTIC REVIEW OF HOTEL OPERATIONS SEGMENT, EMBARK ON AN INTERNAL RESTRUCTURING.IN NEAR-TERM EXPECTS TO MAKE SELECTIVE ACQUISITIONS.  Full Article

City Developments Secures S$250 MLN SDG Innovation Loan By DBS Bank
Wednesday, 4 Sep 2019 

Sept 4 (Reuters) - City Developments Ltd ::SECURED A S$250 MILLION SDG INNOVATION LOAN, IN FORM OF A THREE-YEAR REVOLVING CREDIT FACILITY PROVIDED BY DBS BANK LTD.  Full Article

City Developments Enters Series Of Agreements With HCP Chongqing Property Development
Wednesday, 15 May 2019 

May 15 (Reuters) - City Developments Ltd ::ENTERED SERIES OF AGREEMENTS WITH HCP CHONGQING PROPERTY DEVELOPMENT AS PART OF A STRATEGIC PARTNERSHIP WITH SINCERE.ENTERED DEAL WITH SINCERE TO SECURE CALL OPTION TO ACQUIRE 70% STAKE IN SHANGHAI HONGQIAO SINCERE CENTRE (PHASE 2) FOR RMB1.2 BILLION.AS PART OF STRATEGIC PARTNERSHIP WITH SINCERE PROPERTY GROUP, TRANSACTION INVOLVES EQUITY & DEBT ARRANGEMENT OF ABOUT RMB5.5 BILLION.  Full Article