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MarketScreener Homepage  >  Equities  >  Singapore Stock Exchange  >  City Developments Limited    C09   SG1R89002252

CITY DEVELOPMENTS LIMITED

(C09)
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Southeast Asia Stocks: Singapore, Thailand rise on stimulus hopes; Philippines drops

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11/18/2019 | 07:22am EDT
A Singapore Exchange (SGX) sign sits outside its premises at the central business district in Singapore

Singapore and Thailand markets rose on Monday on hopes of stimulus measures following weak data from both countries, while other regions were mixed amid lack of concrete evidence on the progress in Sino-U.S. trade talks. Data on Monday showed Singapore's exports shrank for the eighth straight month in October, with the country's important electronic shipments steeply falling amid the trade dispute. However, markets took the data as a sign that some measures could follow soon. "We expect additional fiscal impetus in the upcoming budget," DBS said in a note. "Instead of a short-term stimulus package, the government will more likely roll out a robust fiscal budget early next year." The index <.STI> advanced 0.5%, with shipbuilder Yangzijiang Shipbuilding (Holdings) rising 8% and real estate operator City Developments Ltd adding 2.5%. Further aiding sentiment, China's central bank cut rates on seven-day reverse repurchase agreements for the first time since 2015, fuelling speculation about further rate cuts from Southeast Asia's biggest trading partner.

The Thai benchmark climbed 0.4% after the country's economy expanded at its slowest quarterly pace in a year, stirring expectations that the slower-than-expected GDP growth would open the doors for more fiscal stimulus.

Malaysian equities added 0.6%, with hospital operator IHH Healthcare rising 4% and mobile services provider Digi.com gaining 3.2%.

Other markets in the region edged down as investors awaited real evidence on U.S.-China trade deal negotiations, and as rising political unrest in Hong Kong hurt risk sentiment.

Chinese state media said that the two countries had "constructive talks" on trade over the weekend, but neither side gave details on the timing of a possible deal.

Vietnam Philippines shares dropped 0.7% each.

The Philippine index closed at its weakest level in over four weeks. Weighing on the index were conglomerate Ayala Corp which lost 0.8%, and Bank of Philippine Islands which skid 0.5%.

(Reporting by Arundhati Dutta; editing by Uttaresh.V)

By Arundhati Dutta


Stocks mentioned in the article
ChangeLast1st jan.
AYALA CORPORATION 4.17% 775 End-of-day quote.-1.34%
BANK OF THE PHILIPPINE ISLANDS 1.92% 74.4 End-of-day quote.-15.36%
CITY DEVELOPMENTS LIMITED 0.57% 7.04 End-of-day quote.-35.71%
DIGI.COM -0.25% 3.98 End-of-day quote.-10.76%
IHH HEALTHCARE -1.73% 5.1 End-of-day quote.-6.76%
JULIUS BÄR GRUPPE AG -0.66% 43.49 Delayed Quote.-12.28%
LETS HOLDINGS GROUP CO., LTD. 0.11% 9.04 End-of-day quote.49.67%
LINE CORPORATION 0.19% 5370 End-of-day quote.0.37%
LOOK HOLDINGS INCORPORATED 0.83% 970 End-of-day quote.-22.52%
RISE, INC. 0.00% 26 End-of-day quote.-13.33%
YANGZIJIANG SHIPBUILDING (HOLDINGS) LTD. 1.04% 0.975 End-of-day quote.-12.95%
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Financials
Sales 2020 2 562 M 1 884 M 1 884 M
Net income 2020 234 M 172 M 172 M
Net Debt 2020 7 301 M 5 369 M 5 369 M
P/E ratio 2020 29,3x
Yield 2020 1,81%
Capitalization 6 385 M 4 699 M 4 695 M
EV / Sales 2020 5,34x
EV / Sales 2021 3,81x
Nbr of Employees 15 000
Free-Float 31,2%
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Technical analysis trends CITY DEVELOPMENTS LIMITED
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Mean consensus BUY
Number of Analysts 19
Average target price 10,28 SGD
Last Close Price 7,04 SGD
Spread / Highest target 63,4%
Spread / Average Target 46,1%
Spread / Lowest Target 23,6%
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Managers
NameTitle
Eik Tse Kwek Group Chief Executive Officer & Executive Director
Leng Beng Kwek Executive Chairman
Yim Ming Yiong Group Chief Financial Officer
Ivan Ng Chief Technology Officer
Liat Kok Yeo Independent Non-Executive Director