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Yaloh one month downgrade next month upgrade, the changes only thing is their directors resigned new one onboard...so target price go up ?
I have stopped taking JPM seriously.
parcvista ( Date: 23-Apr-2026 13:56) Posted:
Just saw this
JPMorgan upgrades City Development to 'overweight with a price target of S$10.45
InvestingPro | Apr 22, 2026, 18:16
E
CTDM -1.14%
An analyst from JPMorgan upgraded City Development (SGX: CTDM) from 'neutral' to verweight with a price target of S$10.45 from a prior price target of S$8.70. |
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so they have a chance to load up as they missed the boat earlier?
parcvista ( Date: 23-Apr-2026 13:57) Posted:
| One minute downgrade next minute upgrade so misleading |
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One minute downgrade next minute upgrade so misleading
Just saw this
JPMorgan upgrades City Development to 'overweight with a price target of S$10.45
InvestingPro | Apr 22, 2026, 18:16
E
CTDM -1.14%
An analyst from JPMorgan upgraded City Development (SGX: CTDM) from 'neutral' to verweight with a price target of S$10.45 from a prior price target of S$8.70.
JPM downgraded CDL and UOL together for similar reasons and it has recently upgraded UOL. Matter of time it upgrades again. DBSV feels the price is already too low and the gap between CDL and UOL in unwarranted and should close up soon.
ysh2006 ( Date: 23-Apr-2026 13:01) Posted:
The report was one month ago, price has come down and broke his down graded target of 8.70, any new support target already....?
JurongW ( Date: 16-Mar-2026 14:39) Posted:
No thanks to JPM for downgrading CityDev!
JP Morgan downgrades CDL and UOL to &lsquo neutral&rsquo on tougher macro backdrop
Felicia TanMon, Mar 16, 2026 &bull 10:55 AM GMT+08 &bull &bull 5 min read
Analysts Mervin Song and Terence Khi have lowered their target prices on CDL and UOL to $8.70 and $9.55, respectively, in addition to the downgrades.
JP Morgan analysts Mervin Song and Terence Khi have downgraded their calls on City Developments Limited (CDL) and UOL Group to &ldquo neutral&rdquo from &ldquo overweight&rdquo , citing a more challenging macroeconomic backdrop, particularly amid the conflict in the Middle East.
In a March 16 report, Song and Khi say the conflict in Iran could make CDL&rsquo s asset monetisation efforts &ldquo more challenging&rdquo even if they believe the property developer&rsquo s earnings should recover thanks to last year&rsquo s record residential sales, a resilient Singapore housing market and a low three-month Singapore Overnight Rate Average (Sora) of around 1.1%.
CDL posted a strong share price performance in 2025, delivering a total return of 82.6% including dividends. The gains were attributed to Equity Market Development Programme (EQDP) inflows and the divestment of approximately $2 billion worth of non-core assets
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The report was one month ago, price has come down and broke his down graded target of 8.70, any new support target already....?
JurongW ( Date: 16-Mar-2026 14:39) Posted:
No thanks to JPM for downgrading CityDev!
JP Morgan downgrades CDL and UOL to &lsquo neutral&rsquo on tougher macro backdrop
Felicia TanMon, Mar 16, 2026 &bull 10:55 AM GMT+08 &bull &bull 5 min read
Analysts Mervin Song and Terence Khi have lowered their target prices on CDL and UOL to $8.70 and $9.55, respectively, in addition to the downgrades.
JP Morgan analysts Mervin Song and Terence Khi have downgraded their calls on City Developments Limited (CDL) and UOL Group to &ldquo neutral&rdquo from &ldquo overweight&rdquo , citing a more challenging macroeconomic backdrop, particularly amid the conflict in the Middle East.
In a March 16 report, Song and Khi say the conflict in Iran could make CDL&rsquo s asset monetisation efforts &ldquo more challenging&rdquo even if they believe the property developer&rsquo s earnings should recover thanks to last year&rsquo s record residential sales, a resilient Singapore housing market and a low three-month Singapore Overnight Rate Average (Sora) of around 1.1%.
CDL posted a strong share price performance in 2025, delivering a total return of 82.6% including dividends. The gains were attributed to Equity Market Development Programme (EQDP) inflows and the divestment of approximately $2 billion worth of non-core assets
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Three directors linked to CDL boardroom tussle quit hotel unit&rsquo s board
The three directors were involved in CDL&rsquo s high-profile boardroom tussle last year
[SINGAPORE] Three independent non-executive directors of City Developments Limited (CDL) : C09 -0.57% &ndash who were also involved in last year&rsquo s high-profile boardroom tussle between executive chairman Kwek Leng Beng and his son, group chief executive Sherman Kwek &ndash have resigned from the board of the group&rsquo s hotel arm, Millennium & Copthorne Hotels (M& C).
In a bourse filing on Wednesday (Apr 22), CDL said that Jennifer Duong Young, Daniel Marie Ghislain Desbaillets and Wong Ai Ai will step down from the M& C board.
In a separate statement, the company said the directors had been appointed to strengthen governance at the key subsidiary.
&ldquo With this now largely addressed, they have stepped down to focus on their responsibilities on the CDL board and its committees,&rdquo CDL said, adding that the changes will not affect M& C&rsquo s operations or oversight.
The resignations follow a turbulent period for the property group, marked by a public dispute between Kwek Leng Beng and Sherman Kwek over board appointments and control.
Young was among the independent directors appointed in February last year, a move that had been questioned by the elder Kwek. She, along with Wong and Desbaillets, were also named in court papers filed by him, which alleged an &ldquo attempted coup&rdquo by Sherman Kwek to consolidate control of the board.
Meanwhile, the younger Kwek had identified Dr Catherine Wu, an unpaid independent adviser to the M& C board, as a key source of the dispute he alleged that she exercised influence beyond her advisory role.
She eventually resigned from the board following mediation efforts involving family friends and senior establishment figures.
The dispute was resolved on Mar 12, 2025 after Kwek Leng Beng withdrew his lawsuit against his son.
CDL shares ended Wednesday 0.6 per cent or S$0.05 lower at S$8.77, before the news.
CLI raises $403 mil for second Asia-Pacific real estate credit fund
CapitaLand Investment (CLI) (SGX:9CI) says it has raised US$320 million ($403 million) for its Asia-Pacific real estate credit fund, CapitaLand Asia Pacific Credit Program II (ACP II). ACP II is the second regional fund under the Temasek-linked property manager' s flagship real estate credit series.
According to a statement from CLI on April 13, the final close of ACP II adds about US$600 million to its funds under management. The fund drew capital from a diverse group of new and existing investors in the Asia Pacific, including insurers, financial institutions and family offices. CLI holds a 20% sponsor commitment in the fund.
&ldquo Our disciplined focus on senior secured, asset-backed investments positions us away from the challenges currently facing the wider credit sector,&rdquo says Kishore Moorjani, CLI&rsquo s CEO of alternatives, private funds. &ldquo We remain committed to scale our asset-light fund management platform.&rdquo
ACP II has been allocated to five first mortgage loans for logistics, office and living assets located in Sydney and the Seoul Metropolitan Area. The final close of ACP II comes after the full realisation of ACP I, CLI&rsquo s inaugural credit programme. ACP I has invested A$265 million ($240 million) in two prime mixed-used developments in Melbourne and Adelaide.
CDL sets up S$2 billion multicurrency perpetual securities issuance programme
[SINGAPORE] City Developments Ltd (CDL) has launched a S$2 billion multicurrency debt issuance programme.
The net proceeds will be used to finance general working capital requirements and corporate funding of CDL and its subsidiaries, as well as to refinance existing borrowings, said the group in a bourse filing on Thursday (Apr 9).
The perpetual securities will be offered in Singapore to institutional investors and accredited investors. Perpetual securities have no fixed maturities and may be issued in various amounts, bearing fixed or floating rates of distribution. The issuer may also defer the distributions.
CDL has applied to the Singapore Exchange to allow trading and listing of the perpetual securities. UOB is the arranger and dealer of the facility.
Shares of CDL ended Thursday 1.7 per cent or S$0.15 lower at S$8.44, before the announcement.
ESTABLISHMENT OF CITY DEVELOPMENTS LIMITED&rsquo S S$2,000,000,000 MULTICURRENCY PERPETUAL SECURITIES ISSUANCE PROGRAMME
City Developments Limited (CDL) has set up a $2 billion programme to issue perpetual securities (a type of bond with no maturity date). These can be issued in different currencies and sold mainly to institutional and accredited investors. The money raised will be used for CDL general funding needs or to refinance existing debt.
https://links.sgx.com/1.0.0/corporate-announcements/I6GANOLGSTS174DZ/882819_Establishment%20Announcement%20-%20final.pdf
No thanks to JPM for downgrading CityDev!
JP Morgan downgrades CDL and UOL to &lsquo neutral&rsquo on tougher macro backdrop
Felicia TanMon, Mar 16, 2026 &bull 10:55 AM GMT+08 &bull &bull 5 min read
Analysts Mervin Song and Terence Khi have lowered their target prices on CDL and UOL to $8.70 and $9.55, respectively, in addition to the downgrades.
JP Morgan analysts Mervin Song and Terence Khi have downgraded their calls on City Developments Limited (CDL) and UOL Group to &ldquo neutral&rdquo from &ldquo overweight&rdquo , citing a more challenging macroeconomic backdrop, particularly amid the conflict in the Middle East.
In a March 16 report, Song and Khi say the conflict in Iran could make CDL&rsquo s asset monetisation efforts &ldquo more challenging&rdquo even if they believe the property developer&rsquo s earnings should recover thanks to last year&rsquo s record residential sales, a resilient Singapore housing market and a low three-month Singapore Overnight Rate Average (Sora) of around 1.1%.
CDL posted a strong share price performance in 2025, delivering a total return of 82.6% including dividends. The gains were attributed to Equity Market Development Programme (EQDP) inflows and the divestment of approximately $2 billion worth of non-core assets
The upcoming Fed meeting on March 17&ndash 18 is a major factor behind the drop in City Developments (CDL) and UOL today.
Investors are cautious because any signal of delayed rate cuts or prolonged high interest rates from the Fed directly impacts Singapore property developers through higher financing costs and weaker demand.
🏦 Why the Fed Meeting Matters
- Global Interest Rate Linkage: Singapore&rsquo s mortgage rates (SORA-pegged) are influenced by U.S. Fed policy. If the Fed signals slower or fewer cuts, borrowing costs stay elevated.
- Property Sector Sensitivity: Developers like CDL and UOL rely heavily on debt financing. Higher rates reduce margins and dampen housing demand.
- Investor Positioning: Ahead of the Fed meeting, funds often reduce exposure to rate-sensitive sectors (like property) to hedge against hawkish surprises.
📊 Current Fed Outlook
- Rate Path: The Fed is expected to keep rates high, with forward guidance suggesting only gradual cuts in 2026&ndash 2027. Some members even argue for fewer cuts.
- Market Impact: This uncertainty has already pressured Singapore property counters, as investors anticipate slower relief in financing costs.
- Mortgage Effect: Fed policy flows into Singapore&rsquo s SORA benchmark, shaping home loan rates and refinancing costs.
📉 Impact on CDL & UOL
| Factor |
CDL |
UOL |
| Debt Financing |
Large exposure, higher costs if Fed stays hawkish |
Similar exposure, especially in commercial property |
| Dividend Sentiment |
Modest payout seen as cautious |
Conservative payout relative to asset base |
| Investor Reaction |
Selling pressure ahead of Fed meeting |
Sharp declines in recent sessions |
⚠ ️ Risks & Takeaways
- Short-term volatility: Expect property stocks to remain choppy until Fed guidance is clearer.
- Long-term calibration: If Fed signals slower cuts, Singapore developers may face sustained margin pressure.
- Investor strategy: Many are rotating into less rate-sensitive sectors until monetary easing is confirmed.
parcvista ( Date: 16-Mar-2026 11:52) Posted:
| Deep selling fir the past few days |
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Deep selling fir the past few days
the salmon will be back...
when????
when the oil slicks don't choke up the waters upstream.
sengkang ( Date: 16-Mar-2026 11:36) Posted:
Probably peaked at $10.09 this time round.
No more salmon left, lol
MrBear12 ( Date: 16-Mar-2026 10:46) Posted:
| weak market, there is great fear as uncertainty creeps in.. global recession will first hit property markets...
brace for a tough time...
bear is going back to his cave instead of speculating in property...
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Probably peaked at $10.09 this time round.
No more salmon left, lol
MrBear12 ( Date: 16-Mar-2026 10:46) Posted:
weak market, there is great fear as uncertainty creeps in.. global recession will first hit property markets...
brace for a tough time...
bear is going back to his cave instead of speculating in property...
parcvista ( Date: 16-Mar-2026 09:21) Posted:
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weak market, there is great fear as uncertainty creeps in.. global recession will first hit property markets...
brace for a tough time...
bear is going back to his cave instead of speculating in property...
parcvista ( Date: 16-Mar-2026 09:21) Posted:
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Steep drop
What happens today?
