Mai Gong Mo Jio...Yahoo Finance say CDL has very good potential as it is very undervalue...dun miss the boat

[ChenShuang]

View attachment 215366

At the start of the younger Kwek's tenure in January 2018, CDL's share price was around S$12.18. Shares closed at S$5.12 on Tuesday and a trading halt was called on Wednesday morning before markets opened. The last time CDL's share price went below S$5.12 was in February 2009, when it fell to S$4.68.

 

[congo9]

Knn..
Father suing the son for mounting a coup.
How is undervalue sit well ?

I would say useless son. Run the business and earn big money instead of trying to rob your parents

 

[Chase]

Trading Halt becomes Trading Suspended

Sherman still in power
https://links.sgx.com/FileOpen/CDL_...ding_Halt.ashx?App=Announcement&FileID=834416

City Developments Limited (CDL) has taken the decision to temporarily suspend trading in ourshares today, in view of the disagreement within the Board in relation to the composition andconstitution of the Board and the Board Committees. Despite this temporary suspension, ourbusiness operations remain fully functional and unaffected.Mr Sherman Kwek remains the Group Chief Executive Officer until such time as there is a Boardresolution to change company leadership.

 

[po2wq]

wen tis thread started, cdl price was 6.20 ...

on feb 25 2025, iz 5.12 ...

dey making it mor undervalue ...

 

[Chase]

Knn..
Father suing the son for mounting a coup.
How is undervalue sit well ?

I would say useless son. Run the business and earn big money instead of trying to rob your parents

He just roasted his father in media. Sherman found a new sugardaddy?

In a later statement, Sherman Kwek says: "It is incredibly disappointing that our chairman and a minority of the CDL board have decided to take these extreme actions regarding this disagreement around the size and make-up of the CDL board. The legal action taken by his father Kwek Leng Beng was apparently not authorised by the majority of the board."

Sherman Kwek on behalf of what he said was a majority of the board, in a statement said: "These steps to strengthen our Board have purely been to ensure CDL has the highest standards of governance to which it has become known, and our collective decision making as a Board is as robust as possible."

https://www.theedgesingapore.com/news/company-news/sherman-kwek-remain-group-ceo-cdl
https://www.marketwatch.com/story/b...singapore-s-city-developments-update-6a831238

 

[Chase]

The analyst, who declined to be named, noted that it has been a rocky patch for CDL since the Sincere Property Group project, which led to the resignation of four out of its nine directors after the group reported a $1.9 billion loss in 2020.

One of them was CDL’s former non-executive and non-independent director Kwek Leng Peck, who quit after more than 30 years in the role.

Mr Kwek Leng Peck is the cousin of Mr Kwek Leng Beng and the uncle of Mr Sherman Kwek.

At the time, Mr Kwek Leng Peck cited disagreements with the board over CDL’s investment in Sincere, as well as its continuing provision of financial support to the Chinese property group.

He also had reservations with the group’s approach in managing its London-based unit Millennium & Copthorne Hotels.

https://www.straitstimes.com/busine...ceo-as-lawsuit-filed-by-father-kwek-leng-beng

 

[Chase]

if either side makes a general offer to acquire shares from public, which will likely be a low-ball price.....................
it means that this squabble could be a fake one.

 

[congo9]

The analyst, who declined to be named, noted that it has been a rocky patch for CDL since the Sincere Property Group project, which led to the resignation of four out of its nine directors after the group reported a $1.9 billion loss in 2020.

One of them was CDL’s former non-executive and non-independent director Kwek Leng Peck, who quit after more than 30 years in the role.

Mr Kwek Leng Peck is the cousin of Mr Kwek Leng Beng and the uncle of Mr Sherman Kwek.

At the time, Mr Kwek Leng Peck cited disagreements with the board over CDL’s investment in Sincere, as well as its continuing provision of financial support to the Chinese property group.

He also had reservations with the group’s approach in managing its London-based unit Millennium & Copthorne Hotels.

https://www.straitstimes.com/busine...ceo-as-lawsuit-filed-by-father-kwek-leng-beng

Chinese eal estate is heding for crash.
if big boys like Hengda, evergrande, Country garden and other small time developer is crashing, why are you still trying to hold on.

The original bunch of people from China, running sincere holdings, is laughing themselves to the bank.

 

[ChenShuang]

The analyst, who declined to be named, noted that it has been a rocky patch for CDL since the Sincere Property Group project, which led to the resignation of four out of its nine directors after the group reported a $1.9 billion loss in 2020.

Kiasi?

 

[congo9]

It's time to send kuek leng beng city development sinking. The Chinese developer should come in and buy CDL.

 

[Chase]

CDL executive chairman Kwek Leng Beng says son, other directors agree not to take further action after court hearing​

https://www.channelnewsasia.com/sin...son-coup-court-power-tussle-directors-4962311

“The two new directors, irregularly and hastily appointed on Feb 7, 2025 by means of directors’ resolutions in writing, have undertaken not to exercise any powers as directors until further notice of the court,” Mr Kwek Leng Beng said in his statement late on Wednesday.

“Sherman Kwek, Philip Lee, Wong Ai Ai and the remaining directors acting in concert with them, have undertaken not to take any further actions regarding their attempted changes to the board committees and management of certain CDL’s subsidiaries, until further notice of court.

“In addition, the irregularly constituted nominating and remuneration committee has been suspended from taking further actions.”

 

[Chase]

 

[Chase]

Power tussle at CDL sparks concerns over governance and share price volatility​

https://www.channelnewsasia.com/sin...ussle-share-price-governance-concerns-4962046

Requesting the removal of a CEO based on a governance lapse in the nomination and appointment of board directors is “rare”, said Professor Lawrence Loh from the National University of Singapore (NUS), adding that the latest dispute is “likely the tip of the iceberg”.

Mr Kwek Leng Beng had in his statement cited “a long series of missteps” by his son since he took over the company’s top job in 2018, including the ill-fated investment in Chinese developer Sincere Property Group.

The elder Kwek's statement noting that CDL is open to appointing a “professional CEO” suggests the company may seek leadership beyond family control to reassure stakeholders, Prof Loh added.

On the outlook for the company’s share price, experts generally expect a knee-jerk reaction when trading resumes.

 

[WangChuk]

Walao ... maciam like those Korean soap serials siah .... now sinkie version ready for Medium Cork to copy and paste in TV .... nice!

So the price of stocks still good or another scam now?

 

[Chase]

Walao ... maciam like those Korean soap serials siah .... now sinkie version ready for Medium Cork to copy and paste in TV .... nice!

So the price of stocks still good or another scam now?

• Daddy stood up for Sherman when he screwed up in China.
• Mummy went on to scold Brother-in-Law in SCMP to defend son and Brother-in-law left the Board.
• Daddy also accepted Sherman's plan to double-down in China a few months ago.

Rightfully, these developments will depress share price, but Sherman has a track-record of making money from shareholders, instead of making money from outside. (eg. the two recent attempts to low-ball preference shares investors to at a shameless 22% below par value).
https://www.businesstimes.com.sg/co...market-purchase-preference-shares-s078-apiece

They also know the China property meltdown is not over, peers like Keppel Land, OUE, Capitaland are exiting, yet City Development announced another billion-dollar plan to burn money in China, much to the displeasure of the shareholders.
https://www.businesstimes.com.sg/property/capitaland-warns-potential-china-divestment-losses
https://www.mingtiandi.com/real-est...ais-lippo-plaza-to-beijing-capital-financial/
https://www.bloomberg.com/news/vide...s-property-challenges-quite-significant-video

Therefore i wonder if this whole squabble is fake and and an attempt for Hong Leong group to acquire more shares from the public cheaply.

 

[Chase]

Current CDL market value is only 1/3 of their 2017 peak at about S$4.6 billion (US$3.4 billion) - almost 20 years ago.

The family, through Kwek Holdings Pte, controls about 49 per cent of CDL. Other investors include BlackRock Inc., Vanguard Group and the Government Pension Investment Fund Japan, according to data compiled by Bloomberg.

Good summary from Bloomberg:

Father-Son feud plunges richest Singapore clan into crisis​

https://www.thestar.com.my/aseanplu...ud-plunges-richest-singapore-clan-into-crisis

 

[Chase]

Current CDL market value is only 1/3 of their 2017 peak at about S$4.6 billion (US$3.4 billion) - almost 20 years ago.

The family, through Kwek Holdings Pte, controls about 49 per cent of CDL. Other investors include BlackRock Inc., Vanguard Group and the Government Pension Investment Fund Japan, according to data compiled by Bloomberg.

Good summary from Bloomberg:

Father-Son feud plunges richest Singapore clan into crisis​

https://www.thestar.com.my/aseanplu...ud-plunges-richest-singapore-clan-into-crisis

In the past 20 years, the Malaysian side led by QUEK LENG CHAN are the solid ones. After offloading Dao Heng, they went on the grow HL Bank, up about 400% in 20 years, and Guocoland scoring major goals and property milestones in Singapore, including our highest building Guoco Tower.

 

[k1976]

Jiuhu Boleh

 

[k1976]

Current CDL market value is only 1/3 of their 2017 peak at about S$4.6 billion (US$3.4 billion) - almost 20 years ago.

The family, through Kwek Holdings Pte, controls about 49 per cent of CDL. Other investors include BlackRock Inc., Vanguard Group and the Government Pension Investment Fund Japan, according to data compiled by Bloomberg.

Good summary from Bloomberg:

Father-Son feud plunges richest Singapore clan into crisis​

https://www.thestar.com.my/aseanplu...ud-plunges-richest-singapore-clan-into-crisis

Must be a Fengshui problem

 

[Chase]

Family members in the business​

https://www.thestar.com.my/aseanplu...-duo-and-other-family-members-in-the-business

Singaporean billionaire Kwek Leng Beng is the executive chairman of conglomerate Hong Leong Group. Together with his father Kwek Hong Png and his brother Kwek Leng Joo, they bought a controlling stake of a loss-making CDL in 1971.

His elder son, Sherman Kwek, was made CDL’s group chief executive in 2018. Kwek Leng Beng sought to remove him as CEO in February 2025, over disagreements related to the composition and constitution of the board and the board committees. Kingston Kwek Eik Huih, the younger son of Kwek Leng Beng, is a stock trader who was appointed CDL’s non-executive director in March 2019. His cousin Kwek Eik Sheng has been named as an option to be interim CEO at CDL amid ongoing father-and-son feud.

Quek Leng Chan, cousin of Kwek Leng Beng, co-founded Hong Leong Group Malaysia and oversees the Malaysian operations of the Hong Leong Group. Mr Quek was appointed chairman of the board of real estate company GuocoLand in September 2022.

Kwek Leng Peck, CDL’s former non-executive and non-independent director, quit in 2020. He is Kwek Leng Beng’s cousin and Sherman Kwek’s uncle.
He resigned in 2020 over disagreements and clashes with the board over CDL’s investment in Sincere, as well as the continuing provision of financial support to the Chinese property group. The veteran, who was first appointed as director at CDL in 1987, also had reservations with the group’s approach in managing its London-based unit Millennium & Copthorne Hotels.