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City Developments Limited (CDL)
REITs
IREIT Global launches fully underwritten preferential offering to raise $75.9 mil
The proceeds will be used to mainly fund the acquisition of the 17 retail properties located across France.
June 19, 2023
Property
CDL to work closely with contractors to provide necessary support after structure collapse at Tanjong Pagar
“Workplace safety is of paramount importance and we are cooperating fully with the authorities for a thorough investigation."
June 16, 2023
Broker's Calls
RHB lowers CDL's TP to $8.80, says stock is 'still cheap' despite new cooling measures
The unlocking of CDL's portfolio value via an asset spinoff into funds or REITs, is one of the key catalysts identified by RHB.
May 20, 2023
Results
CDL says all business segments were 'resilient' in 1QFY2023
As at March 31, CDL’s net gearing ratio stood at 55%.
May 19, 2023
Investing ideas
Phillip Securities likes CLI for income-generating prowess that covers cradle to grave to 'afterlife'
"Basically, they don't give chance"
April 03, 2023
Broker's Calls
RHB keeps 'buy' on CDL following recent acquisition moves
CDL's core earnings are expected to rebound this year from healthy residential sales and the hospitality sector recovery.
March 31, 2023
Tourism
CDL to acquire Sofitel Brisbane Central for $159.2 mil
This will be CDL’s third hotel in Australia.
March 22, 2023
Property
CDL completes acquisition of landmark St Katharine Docks in central London for $636 mil
The 23-acre freehold mixed-use estate fronts the iconic River Thames and is adjacent to Tower Bridge and the Tower of London.
March 09, 2023
Broker's Calls
Analysts stay positive on CDL, citing earnings recovery, UK spin-off and 'distressed' valuations
"We continue to see value in CDL"
February 27, 2023
Property
Goldman Sachs downgrades CDL to 'sell' and UOL to 'neutral' after third round of cooling measures
CDL was downgraded to "sell" with a TP of $8.05 while UOL was downgraded to "neutral" with a TP of $7.60.
February 21, 2023