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City Developments (CDL)
Broker's Calls
CityDev kept at 'buy' by Jefferies amid renewed takeover bid for Millennium & Copthorne Hotels
SINGAPORE (June 11): Jefferies Singapore is keeping its “buy” recommendation on City Developments (CDL) with an unchanged target price of $12.00, amid a new takeover offer to acquire the remaining 34.8% stake in Millennium & Copthorne Hotels (M&C) for
June 11, 2019
Broker's Calls
CityDev's takeover offer of M&C likely to get approval from minority shareholders: RHB
SINGAPORE (June 10): RHB Research says CDL’s revised takeover offer to acquire the remaining 35% stake of its subsidiary Millennium & Copthorne hotels (M&C) is likely to gain approval from minority shareholders.
June 10, 2019
Buyout
CityDev launches another takeover bid for Millennium & Copthorne Hotels with 685 pence per share offer
SINGAPORE (June 7): City Developments (CDL) has launched another takeover bid for Millennium & Copthorne Hotels (M&C).
June 08, 2019
Company in the news
CDL announces transformational China transaction amid 1QFY2019 earnings surge
SINGAPORE (May 20): On May 15, City Developments announced it had entered into agreements to invest in a 24% equity stake in Sincere Property Group, a stressed mainland Chinese developer, for RMB5.5 billion ($1.1 billion). The transaction is subject to ap
May 20, 2019
In print this week
SGX explains why Singapore is Asia's largest global REIT platform
(May 6): On March 27, during Manulife US Real Estate Investment Trust’s Investor Day event, Ronald Tan, director of Equity Capital Market at the Singapore Exchange, asked the audience a few questions. It was to gauge the public’s reception to various
May 06, 2019
In print this week
Successful conclusion to PPS2 gives outsized returns to investors
SINGAPORE (Apr 29): On April 19, EdgeProp reported that two adjoining eight-storey Grade-A office buildings at 7 and 9 Tampines Grande were sold to a joint venture between Evia Real Estate and Metro Holdings for $395 million. The purchase price translates
April 29, 2019
Property
Billionaire Kwek keeps it in the family with luxury condo sales
SINGAPORE (Apr 23): Billionaire property developer Kwek Leng Beng’s latest luxury condo in Singapore has seen robust demand since its launch last month. It doesn’t hurt that some of his own relatives have rallied to the cause.
April 23, 2019
In print this week
How to play URA's latest draft master plan
SINGAPORE (Apr 5): Kwek Leng Beng, executive chairman of City Developments, has his own views on what could make Sentosa an exciting place for a property investor.
April 05, 2019
Singapore economy
It's all work, all play in Singapore if urban plan gets go ahead
(Apr 5): Living where you work and play may not seem like the ideal balance in terms of escaping the grind, but it’s a key plank of Singapore’s vision for its central business district.
April 05, 2019
Broker's Calls
Property sector kept at 'overweight' by CGS-CIMB as URA unveils 2019 draft master plan
SINGAPORE (Mar 28): CGS-CIMB Securities is maintaining its “overweight” on property developers given higher possibility of unlocking value from older commercial assets.
March 28, 2019