Asia300

City Developments Ltd.

Singapore

  • 1m
  • 3m
  • 6m
  • 1y
  • 2y
  • 5y
Aug 21, 2017
Prev close: 11.32
Aug 21, 2017
Market cap:
Market cap(USD):
10,293.29M
7,551.71M
Shares: 909.30M

Currency in SGD

Company profile

Market(Ticker): SES(C09)
Sector:
Industry:
Finance
Real Estate Development
Full time employees: 2,482

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 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 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 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 1,215.73M
Income before tax 843.48M
Net income 653.22M
EBITDA 1,433.76M
Diluted EPS 0.68
Dividends per share 0.16
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 880.55M
Income before tax 610.93M
Net income 473.12M
EBITDA 1,038.47M
Diluted EPS 0.49
Dividends per share 0.11
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 31.12%
Profit margin 16.72%

Key executive

  • Chief Executive Officer: Grant Lewis Kelley
  • Chief Financial Officer: Yim Ming Yiong
  • Chief Technology Officer: Ivan Ng
  • Head-Administration Department: Cindy Tan
  • Head-Business Development & Investment: Boon Hwee Sim

Share holders

  • KWEK FAMILY(37.3%)
  • Aberdeen Asset Management (Asia) Ltd.(9.9%)
  • Euroform Singapore Pte Ltd.(2.1%)
  • SGI Investment Holdings Pte Ltd.(1.7%)
  • Nin Investment Holdings Pte Ltd.(1.6%)
  • Estate of Khoo Teck Puat(1.6%)
  • Garden Estates Pte Ltd.(1.5%)
  • The Vanguard Group, Inc.(1.5%)
  • APG Asset Management NV(1.1%)
  • Gordon Properties Pte Ltd.(1.0%)

Address

  • Website: http://www.cdl.com.sg
  • Address: 36 Robinson Road, #04-01 City House, Singapore, 068877, Singapore
  • Phone: +65.6877.8228

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