Sherman Kwek

The record earnings were boosted by a series of divestment gains

CDL is the only Singapore company out of the 45 global corporations that received the recognition

CDL's comments on potential property curbs mark the first time a developer has waded in on the issue.

Lim, a former KPMG partner, joined CDL's board back in June 2018

City Developments will continue to landbank in Singapore even as it unlocks value from portfolio of old undervalued assets

Despite the losses, the group has declared total dividend of 12.0 cents per share for the FY2020.

Group CEO Sherman Kwek says CDL will "continue to drive sustainability to build resilience for a greener and healthier recovery".

It’s the biggest challenge yet for Kwek, who’s been at the helm for three years and spearheaded the Sincere deal in 2019.

This was partially mitigated by higher revenue contribution from the hotel operations, investment properties and others segments, which saw increases of 4.2%, 28.3% and 6.5% respectively. 

SINGAPORE (Aug 16): Property giant City Developments Limited (CDL) has bought shares from the open market for the first time. On Aug 16, the company bought 300,000 shares at an average price of $9.485, which is a discount of nearly 15% of its net asset va