City Developments Ltd.

12.78 SGD
+0.12
+0.95%

Singapore
Apr 20, 2018
Ticker
SES(C09)
Prev. close
12.66
Market cap (SGD)
11,511.80M
Market cap (USD)
8,746.20M
Shares
909.30M

In the news

Malaysia and Singapore stocks rise as Xi comments ease trade war fears Apr 10, 2018
Singapore, Malaysia equities rebound as concerns over US-China trade war ease Apr 5, 2018
Nikkei Asia300 Index little changed amid China-US trade tensions Apr 2, 2018
Singapore stocks gain, helped by real estate firms after private home prices jump Apr 2, 2018
Singapore, Malaysia stocks rebound as banks advance Mar 20, 2018

See more articles on City Developments Ltd.

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.

Business Summary

City Developments Ltd. is an investment holding company which engages in the property development and ownership. It operates through the following segments: Property Development, Hotel Operations, Rental Properties, and Others. 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 of club operator and owner, investment in shares, property management, project management and consultancy services; and provides information technology and procurement services. The company was founded on September 7, 1963 and is headquartered in Singapore.

Financial Highlights

Dec 2017	SGD	USD
Revenue	3,828.62M	2,773.40M
Gross Profit	1,684.94M	1,220.55M
Operating income	1,147.57M	831.28M
Income before tax	734.91M	532.36M
Net income	538.22M	389.88M
EBITDA	1,359.67M	984.92M
Diluted EPS	0.56	0.40
Dividends Per Share	0.14	0.10
Total Assets	19,503.29M	14,593.90M
Total liabilities	7,662.14M	5,733.41M
Total equity	9,583.57M	7,171.18M
Operating cash flow	1,092.45M	791.35M
	Currency in SGD	Currency in USD

Historical Data

SGD | USD

	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017
Revenue	3,213.33M	3,763.93M	3,304.10M	3,905.45M	3,828.62M
Gross Profit	1,661.05M	1,632.36M	1,656.13M	1,757.91M	1,684.94M
Operating income	1,179.40M	1,121.87M	1,127.07M	1,215.73M	1,147.57M
Income before tax	906.68M	948.93M	878.49M	843.48M	734.91M
Net income	686.24M	769.63M	773.36M	653.22M	538.22M
EBITDA	1,364.19M	1,318.19M	1,337.79M	1,433.76M	1,359.67M
Diluted EPS	0.71	0.80	0.81	0.68	0.56
Dividends Per Share	0.16	0.16	0.16	0.16	0.14
Total Assets	17,553.69M	19,700.52M	20,318.53M	19,797.42M	19,503.29M
Total liabilities	7,337.86M	8,924.91M	9,105.51M	8,388.73M	7,662.14M
Total equity	7,731.39M	8,410.12M	8,995.79M	9,293.80M	9,583.57M
Operating cash flow	674.63M	206.78M	-17.65M	1,131.49M	1,092.45M

	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017
Revenue	2,567.94M	2,970.77M	2,402.53M	2,828.71M	2,773.40M
Gross Profit	1,327.44M	1,288.37M	1,204.23M	1,273.25M	1,220.55M
Operating income	942.52M	885.46M	819.53M	880.55M	831.28M
Income before tax	724.57M	748.96M	638.78M	610.93M	532.36M
Net income	548.41M	607.45M	562.34M	473.12M	389.88M
EBITDA	1,090.19M	1,040.41M	972.76M	1,038.47M	984.92M
Diluted EPS	0.57	0.63	0.58	0.49	0.40
Dividends Per Share	0.12	0.12	0.11	0.11	0.10
Total Assets	13,902.81M	14,867.19M	14,322.44M	13,703.48M	14,593.90M
Total liabilities	5,811.70M	6,735.27M	6,418.43M	5,806.56M	5,733.41M
Total equity	6,123.39M	6,346.78M	6,341.09M	6,433.03M	7,171.18M
Operating cash flow	539.13M	163.20M	-12.83M	819.53M	791.35M

Valuation Measures

Dec 2017
PER	21.60
ROA	2.73%
ROE	5.70%
Operating margin	29.97%
Profit margin	14.05%

Key executives

Group Chief Executive Officer: Eik Tse Kwek
Group Chief Financial Officer: Yim Ming Yiong
Chief Technology Officer: Ivan Ng
Head-Corporate Administration & Procurement: Cindy Tan
Group Chief Investment Officer: Shao Hong Khoo

Shareholders

KWEK FAMILY (37.3%)
Aberdeen Asset Management (Asia) Ltd. (4.9%)
Euroform Singapore Pte Ltd. (2.1%)
SGI Investment Holdings Pte Ltd. (1.7%)
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%)
APG Asset Management NV (1.0%)
Gordon Properties Pte Ltd. (1.0%)

Contact Details

Website:http://www.cdl.com.sg
Address: 9 Raffles Place, No. 12-01 Republic Plaza, Singapore, 048619, Singapore
Phone: +65.6877.8228

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Competitors

Last Updated on 20 Apr, 2018

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City Developments Ltd.

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