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My view on City Development (C09.DH)
21 Jun 2021 (476 views)  

A FISCA member asked for my view of City Development. 

I searched the key figures of this stock and compared them with two other property stocks listed in Singapore, namely Hongkong Land (H78.SG) and Capitaland (C38U.SG).

The comparable figures are shown below.

I find Hongkong Land and Capitaland to be more attractive as they have a dividend yield above 4%, compared to a dividend yield of 1.06% for City Development.

Capitaland shows a profit for the past year, while the other two stocks show a loss. However, I suspect that in both cases, the loss was due to a writedown of their assets. Their operating income should be positive. 

I also looked at the discount to the book value (as shown by price to book value). I find Hong Kong Land to be most attractive as the price is only 32% of the book value (or the value of the assets). The discount for City Development is 18%. 

I recall that City Development reported some difficulty with their investment in China. I do not know if this problem has been resolved.

I have personally invested in Hong Land Land and Capiland. I do not have any investment in City Development.

Note - this is my personal view. This is not financial advice. I am not recommending to invest in any stock at any specific price.

Tan Kin Lian


My view on City Development (C09.DH)
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A FISCA member asked for my view of City Development. 

I searched the key figures of this stock and compared them with two other property stocks listed in Singapore, namely Hongkong Land (H78.SG) and Capitaland (C38U.SG).

The comparable figures are shown below.

I find Hongkong Land and Capitaland to be more attractive as they have a dividend yield above 4%, compared to a dividend yield of 1.06% for City Development.

Capitaland shows a profit for the past year, while the other two stocks show a loss. However, I suspect that in both cases, the loss was due to a writedown of their assets. Their operating income should be positive. 

I also looked at the discount to the book value (as shown by price to book value). I find Hong Kong Land to be most attractive as the price is only 32% of the book value (or the value of the assets). The discount for City Development is 18%. 

I recall that City Development reported some difficulty with their investment in China. I do not know if this problem has been resolved.

I have personally invested in Hong Land Land and Capiland. I do not have any investment in City Development.

Note - this is my personal view. This is not financial advice. I am not recommending to invest in any stock at any specific price.

Tan Kin Lian