|Bid||9.46 x 0|
|Ask||9.47 x 0|
|Day's range||9.43 - 9.50|
|52-week range||7.80 - 11.38|
|Beta (3Y monthly)||1.28|
|PE ratio (TTM)||13.42|
|Earnings date||6 Aug 2019 - 13 Aug 2019|
|Forward dividend & yield||0.08 (0.85%)|
|1y target est||11.48|
Ho Bee Land Ltd (SGX: H13) is gradually shifting its business model to that of recurring rental income. Should investors cheer this move?
** Salesforce.com Inc agreed to buy big data firm Tableau Software Inc for $15.3 billion, adding muscle in its fight with Microsoft Corp for a bigger share of the market that helps businesses target customers with tools to analyze and visualize data. ** Dallas Cowboys owner Jerry Jones strengthened his company Comstock Resources Inc's grip on one of the largest natural gas basins in the United States with a $1.1 billion deal to buy privately held Covey Park. ** Swiss drugmaker Roche's $4.3 billion takeover of U.S. gene therapy specialist Spark Therapeutics has been pushed back again, possibly beyond the first half, as regulators continue to scrutinize the deal for its effect on competition.
Millennium & Copthorne Hotels Plc has agreed to be acquired by majority owner City Developments Ltd (CDL) in a deal that values the British company at 2.23 billion pounds ($2.84 billion), the companies said on Friday. Shares of M&C surged 35% to the top of the FTSE midcap index and were near the offer price of 685 pence per share. The Singapore-listed real estate firm owns a 65.2% stake in M&C, according to Eikon data from Refinitiv.
UPDATED: City Developments (CDL) has launched another takeover bid for Millennium & Copthorne Hotels (M&C). The latest move comes after CDL built up a 65.2% stake in M&C. CDL says the offer price will remain at the pre-conditional final cash offer price of 685 pence ($11.89) per share offer for the remaining 34.8% of M&C not already owned by CDL.
City Developments Limited (SGX: C09) has invested in IREIT Global (SGX: UD1U). Here are three things to know about the REIT.
SINGAPORE (Reuters) - Singapore-listed real estate firm City Developments (CDL) said on Wednesday it intended to invest nearly $1 billion in China including the purchase of an indirect stake in Sincere Property Group.
SINGAPORE (May 15): City Developments (CDL) has announced earnings of $199.6 million for the 1Q ended March, rising 133.8% from restated 1Q18 earnings of $85.3 million on strong profit margins and the realisation of a pre-tax divestment gain.The bottomline growth came despite a 29.5% y-o-y decline in revenue to $746.2 million from $1.06 billion a year ago, in the absence of revenue recognition from The Criterion executive condominium (EC) in its entirety over the previous quarter.Excluding contributions from The Criterion, the group says 1Q19 revenue would have increased by 6% due to healthy residential sales in Singapore and China.In Singapore, CDL and its joint venture (JV) associates sold 173 residential units with a total sales value of $516.3 million, as opposed to 459 units valued at $792.6 million in 1Q18, due to the higher-margin Boulevard 88 project along Orchard Boulevard.In China, the group’s wholly-owned subsidiary CDL China Limited (CDL China), together with its JV associates, sold 113 residential units and one villa in 1Q, achieving a total sales value of RMB 358.8 million ($72.0 million).Rental properties led profit growth in terms of business segments due to recent acquisitions and the divestment of Manulife Centre.This was followed by the property development segment due to key local projects such as Gramercy Park, New Futura, The Tapestry, Whistler Grand, South Beach Residences – as well as overseas projects like Hong Leong City Center in Suzhou and Hongqiao Royal Lake in Shanghai.The hotel operations segment, however, registered a loss over the quarter due to factors that include a challenging US region where it continued to be loss-making, on top of refurbishments that affected two major hotels in the group’s key gateway cities of London and Singapore, as well as higher financing costs.Over the quarter, the group also recognised a $144.3 million pre-tax gain from the divestment of Manulife Centre, which is in connection with the CDL’s second Profit Participation Securities (PPS) structure developed in 2015.“While Singapore will always remain our home ground, our overseas efforts have borne fruit and provided much needed diversification to our earnings. Although global economic and political events have led to market uncertainties, our geographically diversified and income-stable portfolio in Singapore and overseas will enable us to better navigate through these challenges. At the same time, we will continue to actively explore attractive investment opportunities to grow our business,” comments CDL’s executive chairman Kwek Leng Beng.Shares in CDL closed 0.7% higher at $8.68 on Tuesday.