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CDL tries to con gahmen into reducing it's CEO's ideal:actual bonus-income gap.

bic_cherry

Alfrescian
Loyal
CDL tries to con gahmen into reducing it's CEO's ideal:actual bonus-income gap.

"PROPERTY investment can help fight income inequality as it gives people a viable asset that they can add to their portfolios, said City Developments (CDL) yesterday."
I believe that the only income inequality that CDL is striving to reduce is that between the CEO's ideal bonus and what his actual annual bonus is...
Never read such bull as this... Perhaps as CSR, CDL should give every Singapore resident under the HDB rental scheme a free abode to stay in for the rest of their lives so that every Singaporean/ PR can have a permanent shelter to call home... That dear CDL Executive Chairman Mr Kwek Leng Beng, will instantly reduce income gap between rich and poor in Singapore... u don't agree???!!!

CDL: Property investment can help narrow income gap
Friday, May 15, 2015
Rennie Whang
The Straits Times
PROPERTY investment can help fight income inequality as it gives people a viable asset that they can add to their portfolios, said City Developments (CDL) yesterday.

The firm also said it hoped the Government would tweak some of the property cooling measures that have "stamped out speculation" in the market.

It believes one way to help narrow the income gap "is to enable people to invest in different classes of assets so that they can diversify their investment portfolio - and property should be part of the basket of assets", it said in remarks as part of its first-quarter results.

CDL noted that it has seen "the majority of property buyers follow the 'herd instinct'". When prices fall, they tend to "wait and see", but when there is increased activity and prices start rising, more people are eager to buy. "Quite often, this psychology of property buyers and other factors outweigh the fundamentals of supply and demand projections."

But while statistics provide part of the overall market assessment, "investors must realise that the property market is cyclical in nature", it added. "History has shown that real estate assets in a safe and stable environment like Singapore remain a good investment when viewed with a medium- to long-term perspective."

CDL announced a rise in first-quarter net profit to $123.03 million, a 2.8 per cent increase on a year earlier, thanks to contributions from property development and hotel operations.

Revenue for the three months to March 31 was up 11 per cent to $814.94 million. Turnover from development, including projects such as Coco Palms, D'Nest and Jewel @ Buangkok, rose 16 per cent to $298.57 million.

Despite headwinds in the local residential market, the firm noted, quality projects in good locations will still attract discerning buyers. It will launch two new projects in the second half of this year - The Brownstone, a 638-unit executive condominium in Sembawang, and Gramercy Park, a 174-unit freehold condo in Grange Road.

Revenue from hotel operations rose 6.2 per cent to $375.98 million, thanks to income from new hotels acquired last year and better performance from refurbished outlets. Revenue from rental properties rose 4.3 per cent to $99.19 million while turnover from other sources was up 47.3 per cent to $41.21 million.

Earnings per share was 13.5 cents for the quarter, up from 13.2 cents a year back. Net asset value per share was $9.43 as at March 31, up from $9.25 as at Dec 31. A dividend of 1.93 cents per preference share was declared, to be paid out on June 30.

CDL shares closed up nine cents to $10.19 yesterday.

At a glance
Net profit: $123.03 million (+2.8 per cent)
Revenue: $814.94 million (+11 per cent)
[email protected]
http://business.asiaone.com/news/cdl-property-investment-can-help-narrow-income-gap

If this snake really manages to con PAP gahmen, where the following harebrained MP Lim WK is hopefully a minority, then PAP really has no dignity...
"If the annual salary of the Minister of Information, Communication and Arts is only $500,000, it may pose some problems when he discuss policies with media CEOs who earn millions of dollars because they need not listen to the minister's ideas and proposals. Hence, a reasonable payout will help to maintain a bit of dignity."
- MP Lim Wee Kiak apologises for comments on pay
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bic_cherry

Alfrescian
Loyal
The Straits Times, Published on May 21, 2015
Property investment won't narrow income gap
I WAS surprised to read that real estate developer City Developments (CDL) suggested that property investment could help fight income inequality ("CDL: Property investment can help narrow income gap"; last Thursday).
It seems that CDL, like most developers, is hoping that the Government will tweak its property cooling measures to boost sales and raise its profits.
When Singapore's private and public property prices rose from 2005 to 2012, CDL made record good profits for its directors.
CDL should have paid out at least 75 per cent of its net profit as dividends to its shareholders.
The increase in property prices was largely due to our increased population, low interest rates, and the lack of government measures to curb foreigners, permanent residents (PRs) and even locals from buying multiple properties in land-scarce Singapore.
The Government must continue to ensure that foreigners and PRs cannot purchase freehold or 999-year leasehold landed properties, and also continue to place a tax on foreigners, PRs and corporate private and industrial property buyers.
HDB upgraders contributed to the increase in private property purchases last month, but the more worrying sign is Singaporeans and PRs buying smaller condominium units simply because they look "affordable".
If you are lucky enough to find a tenant, the gross yield is no more than 2.75 per cent a year. With increased housing loan interest rates, maintenance fees, sinking funds and 10 per cent rental property tax; it would make better sense to buy other financial products for better yield, or to keep your Central Provident Fund money for a guaranteed 4 per cent annual return.
The Government must also keep watch on developers or housing agents (both local and foreign) marketing overseas projects here.
Many Singaporeans suffered in their property investments during the worldwide recession in 1985, the Asian financial crisis in 1997 and the Lehman financial crisis in 2008; some even went bankrupt.
The Government's emphasis on better education and lifelong learning is the key to better jobs and opportunities, which are the best ways to fight income inequality.
Statutory boards, multinational companies, along with small and medium-sized enterprises, must play their part in training Singaporeans and in giving them a chance to rise to senior management positions.

David Goh Chee Hoe
http://www.straitstimes.com/premium...ty-investment-wont-narrow-income-gap-20150521
 
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