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City Developments
(SGX:C09)
City Developments (C09) vs. iShares MSCI Singapore ETF (EWS)
City Developments Business Overview & Revenue Model
City Developments Financial Statement Overview
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 4.95B | 3.27B | 4.94B | 3.29B | 2.63B | 2.11B | Gross Profit |
| 1.66B | 1.46B | 1.65B | 1.25B | 977.71M | 828.94M | EBIT |
| 317.31M | 685.67M | 818.53M | 420.11M | 321.87M | -411.69M | EBITDA |
| 123.76M | 1.20B | 918.49M | 696.54M | 439.48M | -330.63M | Net Income Common Stockholders |
| 1.81B | 201.32M | 317.31M | 1.29B | 139.84M | -1.88B |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 2.11B | 3.01B | 2.41B | 2.37B | 2.11B | 3.15B | Total Assets |
| 23.89B | 25.61B | 24.23B | 22.98B | 23.89B | 23.68B | Total Debt |
| 11.41B | 13.98B | 12.30B | 10.37B | 11.41B | 11.81B | Net Debt |
| 9.32B | 10.98B | 9.90B | 8.00B | 9.32B | 8.68B | Total Liabilities |
| 14.56B | 16.30B | 14.69B | 13.42B | 14.56B | 14.43B | Stockholders Equity |
| 8.41B | 9.09B | 9.18B | 9.22B | 8.41B | 8.50B |
| Cash Flow | Free Cash Flow | ||||
| 360.08M | 275.44M | 360.08M | -514.24M | 719.49M | -749.97M | Operating Cash Flow |
| 639.67M | 929.67M | 639.67M | -125.51M | 1.13B | -356.15M | Investing Cash Flow |
| -2.01B | -982.99M | -2.01B | 779.97M | -863.41M | -1.08B | Financing Cash Flow |
| 1.21B | 692.40M | 725.97M | -290.11M | -1.28B | 1.56B |
City Developments Technical Analysis
City Developments Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | S$3.28B | 12.46 | 2.80% | 4.90% | 19.82% | ― | |
72 Outperform | S$5.16B | 14.41 | 3.19% | 2.87% | 4.22% | -49.39% | |
69 Neutral | $4.38B | 19.06 | 5.08% | 5.05% | 1.49% | 5.99% | |
68 Neutral | S$232.73M | 112.50 | 0.35% | 4.76% | 31.28% | ― | |
67 Neutral | $4.76B | 24.67 | 2.21% | 1.50% | -33.84% | -36.71% | |
61 Neutral | $2.85B | 10.96 | 0.41% | 8438.88% | 5.73% | -21.25% | |
58 Neutral | S$235.28M | 35.71 | 0.92% | 1.50% | 12.04% | 18.64% |
City Developments Corporate Events
CDI reported an increased pre-tax profit of $26.8 million for 2024, driven by favorable market conditions and strategic project approvals. The company is committed to sustainability and has expanded its landholdings by 39% over five years. The retirement of Independent Director John Henderson marks the end of an era, as he played a crucial role in guiding the company through significant developments and challenges.
The most recent analyst rating on (SG:C09) stock is a Hold with a S$4.60 price target. To see the full list of analyst forecasts on City Developments stock, see the SG:C09 Stock Forecast page.
Millennium & Copthorne Hotels New Zealand Limited reported a significant increase in revenue and profit in 2024, attributed to a strong performance in its core hotels business and improved sales in residential property markets. The company completed the acquisition of The Mayfair Hotel in Christchurch, enhancing its market reach, and saw consistent demand in its joint venture with Sofitel Brisbane. Despite global challenges, the company remains optimistic about its future growth prospects. Additionally, a takeover offer from CDL Hotels Holdings New Zealand Limited expired, with CDL HHNZ holding 84% of MCK’s shares, below the threshold for compulsory acquisition.
The most recent analyst rating on (SG:C09) stock is a Hold with a S$4.60 price target. To see the full list of analyst forecasts on City Developments stock, see the SG:C09 Stock Forecast page.
City Developments Limited (CDL) held its Sixty-Second Annual General Meeting on April 23, 2025, in Singapore, both in-person and electronically. The meeting was attended by key directors and management, including Executive Chairman Mr. Kwek Leng Beng and Group CEO Mr. Sherman Kwek. The AGM served as a platform for discussing the company’s strategic direction and operational performance, reflecting its commitment to transparency and stakeholder engagement.
The most recent analyst rating on (SG:C09) stock is a Hold with a S$4.60 price target. To see the full list of analyst forecasts on City Developments stock, see the SG:C09 Stock Forecast page.
City Developments Limited reported a strong performance in Q1 2025, with a significant increase in property sales in Singapore, driven by the successful launch of The Orie project. The company also achieved high sales in other projects and is preparing to launch a new mixed-use development at Zion Road. Internationally, the company secured approval for a major mixed-use scheme in London and reported high sales and construction progress in Australia. These developments indicate a robust operational performance and strategic expansion in key markets.
The most recent analyst rating on (SG:C09) stock is a Hold with a S$4.60 price target. To see the full list of analyst forecasts on City Developments stock, see the SG:C09 Stock Forecast page.
City Developments Limited’s subsidiary, CDL Hotels Holdings New Zealand Limited, has completed its takeover offer for Millennium & Copthorne Hotels New Zealand Limited, increasing its stake to 83.915%. The revised offer price was set at NZ$2.80 per share, with the total cash consideration amounting to NZ$23,787,066.80. This strategic move strengthens City Developments’ position in the hospitality sector, although the company advises caution to shareholders in dealing with their securities.
CDL Hotels Holdings New Zealand Limited (CDLHH NZ) has increased its offer price to acquire all ordinary shares of Millennium & Copthorne Hotels New Zealand Limited from $2.25 to $2.80 per share. Despite the increased offer, MCK’s independent directors recommend shareholders not accept it, as they consider it inadequate. CDLHH NZ has waived all remaining conditions, making the offer unconditional, and has secured agreements with some institutional shareholders, now holding 78.678% of the shares. However, the largest institutional shareholder, Accident Compensation Corporation, has declined the offer. The outcome of this offer could significantly impact minority shareholders, especially if CDLHH NZ reaches the 90% threshold required for compulsory acquisition.
CDL Hotels Holdings New Zealand Limited has increased its takeover offer for Millennium & Copthorne Hotels New Zealand Limited to $2.80 per share, making the offer unconditional and waiving the 90% minimum acceptance condition. The Independent Directors Committee is reviewing the new offer and will advise shareholders by 28 April 2025, recommending no immediate action until then.
City Developments Limited has announced the settlement and discontinuation of court proceedings involving its directors. The leadership structure remains unchanged with Mr. Kwek Leng Beng as Executive Chairman and Mr. Sherman Kwek as Group CEO. The Board emphasizes its commitment to good corporate governance and shareholder value enhancement.