Sherman Kwek

CDL warns of property cooling measures in Singapore - THE EDGE SINGAPORE

Property

CDL warns of property cooling measures in Singapore

CDL's comments on potential property curbs mark the first time a developer has waded in on the issue.
Fourth CDL director, Jenny Lim, quits board - THE EDGE SINGAPORE

Company in the news

Fourth CDL director, Jenny Lim, quits board

Lim, a former KPMG partner, joined CDL's board back in June 2018
'Proxy to Singapore' to continue land banking - THE EDGE SINGAPORE

Property

'Proxy to Singapore' to continue land banking

City Developments will continue to landbank in Singapore even as it unlocks value from portfolio of old undervalued assets
CDL records $1.78 bil impairment on Sincere Property Group; declares $1.92 bil loss for FY20 - THE EDGE SINGAPORE

Results

CDL records $1.78 bil impairment on Sincere Property Group; declares $1.92 bil loss for FY20

Despite the losses, the group has declared total dividend of 12.0 cents per share for the FY2020.
City Developments Limited ranked most sustainable company in real estate and in Singapore by Global 100 - THE EDGE SINGAPORE

Sustainability

City Developments Limited ranked most sustainable company in real estate and in Singapore by Global 100

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

Property

CDL's Sherman Kwek seeks to salvage Sincere Property deal

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

Results

City Developments reports 34% decline in 3Q earnings to $115 mil on impairment losses, lower revenue

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. 

CityDev makes share buybacks at $9.485

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

Commentary

Singapore home prices won't pop without migrants

(Aug 14): If Sherman Kwek sounds annoyed, he has his reasons — 2.9 million sf worth of reasons.

Results

CityDev CEO Grant Kelley resigns; developer posts 18% drop in 2Q17 earnings to $110 mil

SINGAPORE (Aug 11): City Developments has announced a 17.9% drop in 2Q17 earnings to $109.9 million from $133.8 million in 2Q16.
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