Home Capital Results

CDL posts record PATMI of $1.13 bil for 1HFY2022 mainly from divestment gains and gain on deconsolidation of CDLHT

Felicia Tan
Felicia Tan8/11/2022 07:58 AM GMT+08  • 4 min read
CDL posts record PATMI of $1.13 bil for 1HFY2022 mainly from divestment gains and gain on deconsolidation of CDLHT
CDL's Republic Plaza. Photo: Samuel Isaac Chua/The Edge Singapore
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

City Developments Limited (CDL) has posted record earnings with net profit after tax and non-controlling interest (PATMI) of $1.13 billion for the 1HFY2022 ended June.

The half-year period’s earnings is a reversal from the $32.1 million loss seen in the 1HFY2021. It is also the highest PATMI achieved since CDL’s inception in 1963.

The record PATMI was largely due to the divestment gains from CDL’s sale of Millennium Hilton Seoul and its adjoining land site for 1.1 trillion won ($1.25 billion), as well as the gain on deconsolidation of CDL Hospitality Trusts (CDLHT) from the group resulting from the distribution in specie.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.