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Home City Developments Limited (CDL)
Sustainability
CDL, StarHub, Singtel among world's most sustainable listcos
CapitaLand Investment, which placed #56 in last year’s edition of Corporate Knights’ Global 100, has dropped out of the list.
January 18, 2024
Environmental, Social and Governance
CDL, UOB among 320 organisations that pledge to make nature-related disclosures by FY2025
This “first cohort” of 320 organisations plan to adopt the Taskforce on Nature-related Financial Disclosures' recommendations.
January 16, 2024
Broker's Calls
Bright spots in property likely to come from ECs, suburban condos in OCR and RCR and resale HDB flats: DBS
The brokerage has named CapitaLand Investment, CDL and GuocoLand as their top picks within the sector.
December 14, 2023
Environmental, Social and Governance
CDL first to obtain OCBC's 1.5°C loan with three-year GBP200 mil sustainability-linked facility
Launched in March, the 1.5°C loan provided by OCBC incentivises corporates to set and work towards emissions reduction targets.
December 04, 2023
Property
CDL invests in 25 freehold residential assets in Japan for $321.9 mil
The investment is CDL’s largest private rented sector transaction in Japan.
September 28, 2023
M&A
CDL acquires 256-room Osaka hotel for $78.5 mil
This is CDL's third hotel acquisition in 2023.
August 31, 2023
Broker's Calls
RHB lowers target price to $8.20 for City Developments as it awaits stronger performance catalysts
The brokerage house has maintained its “buy” call, although the property developer’s 1HFY2023 performance was “disappointing”.
August 30, 2023
Broker's Calls
PhillipCapital upgrades CDL to 'buy' on City Developments, but lowers target price to $8.22
This new target price is derived from a lower revalued net asset value (RNAV), with a 45% discount to RNAV of $14.94.
August 16, 2023
Results
CDL reports 1HFY2023 earnings of $66.5 mil, down 94.1% y-o-y from absence of substantial divestment gains
A special interim dividend of 4.0 cents per share has been declared. It will be payable on Sept 5.
August 10, 2023
Broker's Calls
'Add' these three property names as Singapore releases highest residential land supply since 2013: CGS-CIMB
Also, expect a moderation in home price growth in 2023.
June 23, 2023