CDL TO BOOK A MASSIVE $ 465 MILLION GAIN on $2.75 billion south beach stake sale

SPOT_ON
06-04

At this agreed purchase price, South Beach has an implied property value of $2.75 billion, which is a 3% premium over the valuation of $2.67 billion accorded by Edmund Tie & Company as of last December.


City Developments will be selling its 50.1% stake in South Beach development to joint venture partner IOI Properties Group for $834.2 million and book a gain on disposal of some $465 million in the current FY2025.


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Modified in.06-04
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Comments

  • SPOT_ON
    06-04
    SPOT_ON
    the group’s share price-to-asset value gap as a “chasm”, a shareholder said it reflected the “profound failure” of CDL’s board to “crystallise value”. CDL’s estimated revalued net asset value (RNAV) stands at S$19.86 per share as at Dec 31, 2024
  • SPOT_ON
    06-05
    SPOT_ON
    it would have logged earnings of $638.5 million, up from $190.8 million, had the deal been completed at the start of FY2024.

    Earnings per share would have risen to 71.2 cents from 21.3 cents.

    meaning that the p/e of CDL is richly super undervalued at 6.9 !

    • SPOT_ON: 
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  • SPOT_ON
    06-06
    SPOT_ON
    Besides unlocking significant value and delivering accretion to net asset value, Citi expects a higher pace of asset monetization. This could lead to lower net gearing and higher dividends, which are key share-price catalysts. Citi maintains the stock's buy rating and target price of S$9.51.
  • SPOT_ON
    06-05
    SPOT_ON
    based on technicals..CDL just went above its 50 days moving averages... and the MACD is bullish crossing upwards
  • SPOT_ON
    06-05
    SPOT_ON
    CDL RNAV IS $19.86 !!!!

    BUY !

  • SPOT_ON
    06-04
    SPOT_ON
    @Barcode
    @Aqa @Tiger V @koolgal @BABAMood @Fenger1188 @DiAngel

    LOAD UP

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