At its closing price of $4.90 on April 23, CDL's shares are down 17.23% from the past year and down 4.3% year-to-date (ytd). The tumble was attributed to several factors including CDL's omission from MSCI's Global Standard Indexes in May 2024 and its internal tussle that started in late February this year.
City Developments Limited's (CDL) CEO Sherman Kwek is not ruling out the possibility of continuing share buybacks, considering that its current share price levels is at an over 70% discount to its true value.
As at the FY2024 ended Dec 31, 2024, CDL's net asset value (NAV) stood at $10.17 per share while its revalued NAV (RNAV) stood at $17.57 per share or $19.68 per share considering its fair value taken all valuation surpluses on portfolio.
