Asia300

City Developments Ltd.

Singapore

  • 1m
  • 3m
  • 6m
  • 1y
  • 2y
  • 5y
Apr 21, 2017
Prev close: 10.26
Apr 21, 2017
Market cap:
Market cap(USD):
9,329.43M
6,676.04M
Shares: 909.30M

Currency in SGD

Company profile

Market(Ticker): SES(C09)
Sector:
Industry:
Consumer Services
Hotels/Resorts/Cruiselines
Full time employees: 2,482

Business summary

City Developments Ltd. engages in the property development, ownership, and investment holding. It operates through the following segments: Property Development, Hotel Operations, Rental Properties and Other. The Property Development segment develops and purchases properties for sale. The Hotel Operations segment owns and manages hotels. The Rental Properties segment develops and purchases investment properties for sale. The Others segment comprises club operator and owner, investment in shares, property management, project management and consultancy services and provider of information technology and procurement services. City Developments was founded on September 1, 1963 and is headquartered in Singapore.

Company background

City Developments is one of the largest real estate development companies in Singapore with strengths in residential development and hotel operation. Founded in 1963, the firm went public the same year, listing its shares in the former Malayan Stock Exchange. The firm is currently listed on the Singapore Exchange. In 1972, Hong Leong Group, led by founder Kwek Hong Png, acquired a controlling interest in City Developments, making the firm a member of the Malaysian conglomerate. The company is currently led by Executive Chairman Kwek Leng Beng, a son of Hong Leong's founder and one of the richest people in Southeast Asia. Hong Leong Group is still a majority shareholder in the company.

Its portfolio includes major condominiums, as well as retail and office complexes both in Singapore and abroad. It also holds a majority stake in London-listed global hotel group Millennium & Copthorne Hotels, which has a network of over 110 hotels in the world. Faced with a slowdown in Singapore's domestic property market, the company has been seeking to expand overseas, especially in Japan and Australia. In late 2014, it acquired 16,815 sq. meters of land in central Tokyo to develop condominiums, marking its entry into Japan's residential market.

In the news

Financial highlights

Dec 2016

  • Local currency
  • US Dollar
Revenue 3,905.45M
Gross profit 1,757.91M
Operating income 801.13M
Income before tax 843.48M
Net income 653.22M
EBITDA 1,019.16M
Diluted EPS 0.68
Dividends per share 0.08
Total assets 19,797.42M
Total liabilities 8,388.73M
Total equity 9,293.80M
Operating cash flow 1,131.49M

Currency in SGD

Revenue 2,828.71M
Gross profit 1,273.25M
Operating income 580.25M
Income before tax 610.93M
Net income 473.12M
EBITDA 738.17M
Diluted EPS 0.49
Dividends per share 0.05
Total assets 13,703.48M
Total liabilities 5,806.56M
Total equity 6,433.03M
Operating cash flow 819.53M

Currency in USD

Valuation measures

Dec 2016

PER 11.76
ROA 3.25%
ROE 7.14%
Operating margin 20.51%
Profit margin 16.72%

Key executive

  • Chief Executive Officer: Grant Lewis Kelley
  • Chief Financial Officer: Yim Ming Yiong
  • Chief Technology Officer: Seng Chee Tan
  • Head-Administration Department: Cindy Tan
  • Group General Manager: Ngiang Hong Chia

Share holders

  • KWEK FAMILY(37.3%)
  • Aberdeen Asset Management (Asia) Ltd.(9.9%)
  • Hong Leong Asia Ltd.(3.1%)
  • Euroform Singapore Pte Ltd.(2.1%)
  • Nin Investment Holdings Pte Ltd.(1.6%)
  • The Vanguard Group, Inc.(1.6%)
  • Estate of Khoo Teck Puat(1.6%)
  • Garden Estates Pte Ltd.(1.5%)
  • SGI Investment Holdings Pte Ltd.(1.5%)
  • Third Avenue Management LLC(1.0%)

Address

  • Website: http://www.cdl.com.sg
  • Address: No. 20-01 City House, 36 Robinson Road, Singapore, 068877, Singapore
  • Phone: +65.6877.8228

Copyright © 2017 FactSet Research Systems Inc. All rights reserved.